RetroPGF Buyer Contributions Nested Finance

Let’s get to know Nested Finance I, which is in the Optimism contribution program organized by ThriveCoin

It is a protocol that aims to make Nested Defi available to everyone, with a simple interface and a single confirmation that aims to perform many transactions. Nested aims to democratize SocialFi and believes that the idea of privileges does not fit well with the idea of democratization.

This is where optimism comes into play. Optimism provides a protocol that is aligned with what Nested is trying to achieve because of how effectively it cuts cost, increasing accessibility. There are basically no gas limit restrictions in rollup transactions. It allows multiple transactions in a single transaction, which is technically quite difficult, but optimism has achieved it. This is exactly what is sought in Nested finance. 12 swap or burn transactions can be performed with a single transaction confirmation, which saves a lot of cost and time.

In terms of security, as for Nested finance, the funds are kept on the blockchain in accordance with the spirit of Web3, under the control of the user, and a digital signature on the wallet is required for every transaction to be made. Although the systems are quite secure, Nested Finance insures user funds up to $5 Million in case of potential hacking attacks and loss of funds. It has partnered with Nexus in this transaction.

Let’s first look at the purpose of Nested Finance’s products, and then the benefits for optimism:

1. Nested Finance offers a platform service to users who are new to Defi and those who do not have much time to deal with. It allows its users to choose which coins they want to buy after depositing their assets and buy them all at once, in a single transaction. Thus, users do not need to pay fees many times by using different dexes for each coin, and they can conclude all of them in a single transaction. In addition, as proof of this transaction, you receive an NFT from Nested Finance for each coin portfolio you create, and when you want to make a change on your coins, you prove your ownership in this way.
2. Apart from this, there is a denominator for users who are new in the field of crypto and defi, as new users can observe the contents of the coin portfolios created by more experienced users and the profit-loss status according to days, weeks, months, and can copy the portfolio created by that trader. A small royalty is paid to the portfolio owner for this copying process. In this way, both the simple interface and the possibility to benefit from experienced traders is a factor that attracts new defi users.

Nested encourages traders to buy and trade various coins using optimism. It uses both its native token $NST token and the $OP you get from incentive programs. Nested Finance has an incentive program that has been running for about a year and rewards platform users, providing its users with $NST tokens that will be released in the future as a reward.

What is the amount of incentive given to Nested by Optimism? and what is it used for?

While Nested is expected to receive a total of 8,663.52 $OPs by Optimism, Nested Finance announced that they were entitled to receive 250k $OPs in March as part of the grant program. According to the statement made by Nested in Q1 2023 on where these contributions will be spent, the commitment made so far is as follows:

While Nested is expected to receive a total of 8,663.52 $OPs by Optimism, Nested Finance announced that they were entitled to receive 250k $OPs in March as part of the grant program. According to the statement made by Nested in Q1 2023 on where these contributions will be spent, some of the commitments made so far have been realized and some are still waiting to be realized.
The main purpose of these incentives is to encourage all users, whether professional or amateur, to trade here. In order to ensure that the traders at these two ends can use the same platform, while adding various trade orders such as complex farming strategies, yield systems, limit orders to the system for professional users, it is also possible for amateur users to access these features more easily. Within this, many processes, including various interface facilitations and mobile applications for users, are waiting to be implemented.

Finally, for the incentives organized by nested finance,
As a user who started using Nested Finance more than 1 year ago, Nested Finance’s influencers, various defi users and all community members were able to attract users with incentives at first, afterwards, I see that it is able to retain traders, with it being a quality platform and offering plenty of variety.

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