Calling Beam facilitators to add Nephrite to Epoch 18 vote

Announcements
1

Calling Beam facilitators to add Nephrite to Epoch 18 vote

Proposal title: Allocate 6% of BEAMX Total supply to Nephrite LPs and make Nephrite a DAO DAPP

Proposal description:

Nephrite aims to get 6% of BEAMX’s total supply and distribute these tokens to its Stability Pool depositors for 24 months. These BEAMX will only go toward LPs to make Nephrite more stable.

There is no Team allocation or other form of reward, while some of the DAPP profit will be directed to the DAO treasury.

Every Defi ecosystem needs a stable asset, after listening to the community we went back and set Nephrite to be Pegged to USD ($), it is essential that this Pegg will hold, and for that, we need the community’s help.

After many months of hard work in the shadow, we want to make it official, we call the BEAMX holder to support this vote.

Nephrite source code can be found here:

The Nephrite audit will be published shortly

Our plan is to deploy Nephrite as soon as the vote ends,

References: Presenting the Nephrite Manifesto A truly Censorship-resistant Confidential Stablecoin

https://twitter.com/NephriteMoney

5 Likes
2

I don’t want to rain on the parade but the dapp net version isn’t working properly yet. Shouldn’t making that one work be top priority first?

2 Likes
3

comments and suggestions are always welcome!

We have seen all the reports on the latest dappnet release here on the forum, we think we know the issue and reproducing it now - we will not launch before fixing the known issues.

Thanks for reporting!

5 Likes
4

Hey Nephrite team,
I just want to ask that if the epoch 18 vote passes, when will we expect to see Nephrite on mainnet? :yum:

5

We plan to release it right after the vote.

6

Why 6% and why 24 months?
Can you elaborate on the reasons behind these values?

Remark: Allocating to Nephrite the same amount of BeamX as to the DEX seems maybe a bit too much (the DEX will have multiple LPs to reward). Maybe allocate 4% to Nephrite and 8% to DEX?

2 Likes
7

Quickly Nephrite tell people on twitter what nephrite is and why it won’t collapse together with banks unlike centralized cryptos. Now that a Silicon valey bank has collapsed it is a good time

2 Likes
8

Yes this is really a great opportunity to save Beam’s popularity

9

Will Nephrite’s source code be published somewhere other than a proton drive folder on a Beam forum? (e.g. a public repo like Github). Can also publish the audit there

10

I’m a bit ignorant, how is nephrite any better than, say, DAI? I mean, given that DAI de-pegged, there better be a really good reason why nephrite is any better.

11

Have a look at their paper. The comparison between Liquity (LUSD) and Maker (DAI) systems is there.

Facing the USDC depeg today, LUSD resisted better than DAI (which was too exposed to USDC).

1 Like
12

Okay, that’s an informative and interesting read.

On first glance, it seems everything stands on the quality of the beam oracle, which presumably is not immutable.

Also, in times of recovery, how do things become un-paused?

I think the name “nephrite” is not a great choice. Perhaps too long and obscure.

Can I ask to which currency / currencies is this stablecoin pegged to? I’m guessing USD but I think it would be interesting to also have other currencies, or even a basket of currencies.

13

The code is relatively compact, we might just put it on-chain.
Most likely will not be on Github.

14

Any particular reason for that? Feel like it should be posted where it’s most accessible to folks. Por que no los dos

1 Like