Nucleon State of the Project: Part 1) A Look Back
The end of June marked the halfway point through the year. We thought this would be a good time to look back at Nucleon’s accomplishments and partnerships. To appreciate what we have done so we can reach new heights in the future.
A Star is Born
It goes without saying that one of the proudest moments for a developer is the launching on Mainnet for a beloved project. This is how we all felt on Jan. 31st when Nucleon officially launched on Conflux eSpace. The first day alone saw over 2M CFX staked. 2M was an exciting start, but looking back it truly humbles us now to have nearly 37M CFX staked in Nucleon’s pool.
Words cannot express the gratitude we have for the +1500 stakers out there who use Nucleon, and believe in us. From the whole team — truly, Thank you.
LP Pools Deep Enough to Do a Cannonball
Obviously, Nucleon would need liquidity to function, which is why we created CFX/xCFX and CFX/NUT staking pools from the beginning. The team at Swappi was kind enough to create LP Farm for CFX/NUT for PPI rewards. As of now, there is over $850K in liquidity. That is the second most liquidity behind only PPI in all of eSpace.
As xCFX grew in popularity, we soon realized a liquidity staking pool was needed for xCFX/NUT. As of now, there is nearly as much xCFX/NUT staked in the Nucleon Pool as CFX/NUT
Nucleon’s Big Stake and Other Events
The team has been quite persistent in trying to develop fun ways to interact with the community and bring in new users to see the benefits of Nucleon. All the events have been designed to help users see that there is more to Nucleon than a cash prize. Regardless of earning a prize, the user won.
Perhaps Nucleon’s greatest example of that was Nucleon’s Big Stake Campaign in March. Users were able to stake their CFX to be eligible for a tiered reward pot that grew as more CFX was staked in Nucleon. The end result was a reward of $7,500 USD worth of CFX. A reward we were more than happy to payout to teach people that staking on Nucleon is super easy. By the end of the Event, Nucleon’s CFX pool had grown by over 7M CFX.
Readers can see the details of the campaign here. 👇
That was not the only event Nucleon created. There were other events in partnership with other projects such as the Liquidity event with Swappi to create LP tokens which were then staked on Nucleon. We also had an event with Multichain to bridge and stake CFX from the Binance chain over to eSpace.
Readers can see the details of the Swappi campaign here. 👇
Reader can check out the Multichain (RIP) campaign details below. 👇
Nucleon DAO Has the Floor
Staking CFX has not been the only focus for the team. Nucleon has made significant strides in governance and decentralization. Nucleon’s DAO created an entire process for important decisions that will be voted on by the people. The DAO launched a Subreddit dedicated to discussing proposal ideas that affect Nucleon and its operation.
The first proposal, for example, was for the creation of a Constitution that guides the ideals of the DAO. The proposals are then adjusted for comments and suggestions, then posted on the Nucleon website for a formal vote using veNUT. veNUT is the governing token of the Nucelon DAO. It is created when users stake NUT for a set amount of time.
A more recent DAO proposal is the decision to airdrop xCFX to veNUT holders.
(See the Reddit link below to see all three proposal discussions)
Collateralizing Nucleon Tokens on Goledo
One of the more successful partnerships to date has been with Goledo. Users can take both xCFX or NUT and supply, collateralize, or borrow them. Over 8.4M xCFX and over 4,000 NUT were actively supplied on Goledo’s markets. We strongly feel the lending and collateralization of xCFX in particular will play a greater role in the ecosystem as it develops. We are very excited to see how this develops in the future.
Visit their marketplace from here. 👇
A Wallet to Suit Your Needs
Nucleon has made it a point of emphasis to support a wide range of wallets. Token Poket, OneKey and OKX wallet. We have more we plan to support. As always, it takes time, and the list will grow.
OKX Earn
Nucleon has teamed up with OKX to allow you to stake your CFX from your wallet through Nucleon without having to leave their site. It is a great way to help users who are still uncomfortable with DeFi to branch out and get used to the staking feature from a trusted group like OKX. As we said before, whatever it takes to help people learn and use liquid staking.Y
You can check out OKX below. 👇
Anything Else?
There are many smaller items that have happened since launch, but we don’t want this to become a novel 😜. Moving forward, we will be making this at least a quarterly event if not monthly. Either way, we promise to help keep you all informed of the latest happenings through our socials.
Again, we humbly thank everyone for your support and we promise to continue being open and honest about the development of Nucleon.
Now back to BUIDLing. 💪
About Nucleon
Nucleon is a liquid staking solution for Conflux PoS backed by industry-leading staking providers. Nucleon lets users stake their CFX without locking assets or maintaining infrastructure.
Our goal is to solve the problems associated with Conflux PoS staking — illiquidity, immovability, and accessibility — making staked CFX liquid and allowing for participation with any amount of CFX to improve the security of the Conflux network.
Connect with us!
Link to our social channels 👇
