(MENAFN- Hmedium.com) BitMart, a premier global digital asset trading platform, will list Nabox (NABOX) on August 18, 2021. For all BitMart users, the NABOX/USDT trading pair will be officially available for trading at 4:00 AM EDT.
What is Nabox?
Nabox was created in 2018 as simply a wallet built for the NULS ecosystem for the purpose of sending and receiving NULS tokens.
NULS is a blockchain infrastructure project built with cross-chain capabilities in mind, back when "cross-chain" was a buzzword. To that end, NULS incubated a cross-chain DEX in 2019, NerveNetwork, which now forms the foundation of Nabox's cross-chain functions.
As DeFi started becoming more and more popular, the vision of NULS started becoming more and more apparent. Sensing the market demand for a crosschain wallet, the decision was made to branch Nabox off as an individual project so as to be able to dedicate resources for independent growth.
Nabox Competitive Advantages
● One-click cross-chain for easy swaps across different chains
● Works with Wallet Connect & various DApps
● Supports ETH, BSC, HECO, OKExChain, and various DApps on the NULS ecosystem
● Decentralized Identifier for management across chains and KYC purposes in future
● Current userbase: 20,000+, with over 40,000+ downloads
Product Architecture
As a cross-chain wallet, Nabox strives to achieve compatibility with most existing DApps across various chains, allowing seamless transfers and swaps and providing users a safe and efficient experience.
● Network layer: A compilation of the largest number of DApps across various chains, currently including Ethereum, BSC, HECO, OKExChain, Nerve, NULS, and others to come.
● Contract layer: Nabox connects to various public chains, creating an applicable address for each chain, all requiring only one private key, allowing internal transfers, and yet at the same time achieving cross-chain functions via Nerve's cross-chain capabilities.
● Application layer: Consists of 3 main modules: Cross-chain transfer, Crosschain swap, and DApp plugin.
Cross-chain Transfer
Nabox facilitates cross-chain transfers with NerveNetwork as a bridge via an API for each chain.
Virtual banks created on Nerve's consensus nodes are used to create and manage cross-chain contracts. They are responsible for the verification and execution of transfers from other chains.
Cross-chain Swap
Nabox Swap's main capabilities are facilitated by two main components: Nabox Aggregator and Nabox Pool.
Nabox Aggregators are deployed to help users find the most efficient routings on connected networks. Nabox Pools allow users to achieve 0% slippage via NerveNetwork's cross-chain capabilities.
Nabox Pool
Nabox Pools are comprised of stablecoins and other assets across various chains on NerveNetwork. This type of Automated Market Making provides low slippage, opening up new possibilities for cross-chain swaps.
NABOX Token Utility
● Users can provide liquidity or stake their NABOX tokens for rewards. As the userbase grows, more pools and farms will be started based on user demand.
● Holding NABOX Tokens grants users various DID tiers, which allows for several different use cases.
● NABOX Tokens can also be used for voting purposes once the Governance module is ready for use.
● At a later stage, transaction fees will be levied on swaps, and a percentage of NABOX Tokens will be burnt in proportion.
About BitMart
BitMart Exchange is a premier global digital assets trading platform with over 5 million users worldwide and ranked among the top crypto exchanges on CoinMarketCap. BitMart currently offers 370+ trading pairs with one of the lowest trading fees in the market. To learn more about BitMart, visit their website, follow their Twitter, or join their Telegram for more updated news and promotions. Download BitMart App to trade anytime, anywhere.
About Nabox
Nabox is a cross-chain DeFi wallet or Web 3, built with DID capabilities. NABOX tokens can be transferred across Nabox wallets with 0 gas fees through NerveNetwork. The tokens can be used for various rewards and incentives for encouraging engagement with Nabox, accelerating mainstream adoption of cryptoassets. To learn more about Refinable, please visit their website, follow their Twitter and join their Telegram.
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