Today we have a few important updates for you regarding the upcoming launches. The deployment of the Nimbus Platform on BSC was followed shortly by 4 listings in less than 14 days — on PancakeSwap DEX, CoinGecko, MathWallet, and Bitkeep Wallet. So we can say with much certainty that this month has been quite productive.
Now all eyes are on the three upcoming launches: the Wrap Machine, the Lending-Borrowing dApp, and the P2P Exchange.
We understand the enthusiasm and eagerness of our community for these functionalities to go live. We also acknowledge that in the past, we were only able to mention approximated timelines instead of precise dates. Today, we would like to apologize that those timelines were not met. We are continuously working on fine-tuning our processes and the interaction with the auditors to fix this. Yet we’re still a growing startup and things do not always go smoothly. But we’re grateful that you’re going through this with us side by side and show incredible patience. We immensely thank you for that!
The good news is, today we are much more confident about the dates that will be shared with you in this post. We are here to relay them to you as well as explain what exactly affects the launch timelines.
Why did the Previously Estimated Timelines not Work out?
On the part of the Nimbus team, the development for the two dApps was concluded in the month of April. However, we are yet to receive the final audit report.
Why is it taking so long, you rightfully ask? There are at least 3 reasons for why the audit timelines are hard to predict:
- Before a launch, all Nimbus functionalities undergo multiple technology and security code audits according to our 3-tier security system. First of all, this requires coordination between different parties and it’s not always feasible to streamline that. Second, since you should never rush the auditors — unless you want the audit to be quick yet low-quality! — you need to give time to everyone. In fact — as much time as needed. Now multiply that threefold and that’s what we’ve got!
- Every time new functionality is added to the platform, the system becomes more and more complex. This makes the audit process more time-consuming over time — yet the exact pace is not always predictable. For example, you need to check all the interdependencies between the platform components and take note of how a dozen other details intertwine. That’s the sacrifice you need to make in order to have all these great tools in one spot!
- Since Nimbus is now a cross-chain solution present on both Ethereum and BSC networks, the technical process has become even trickier. Especially considering that not so many DeFi projects have followed this path to date, it’s even harder to rely on some common benchmarks and estimate the development and testing timelines.
…But There are Positive Sides to it as well!
The fact that these much awaited dApps will be as secure as potentially possible is not the only good side to this situation.
We would like to remind you that the Lending-Borrowing dApp will serve as a basis for other future dApps. Meaning that now, this is the most time-consuming step for Nimbus Platform to flourish! For the majority of the currently planned future functionality, we’ll just need to build up different layers on this Lending-Borrowing mechanism. That speeds up the process like never before! You can read about it here.
All in all, we are truly regretful for not fitting the estimated timelines that were announced before. But we hope for the best understanding from our community, as our only mission is to deliver the dApps with CONFIDENCE!
What Can You Expect in Terms of the Launch Timelines?
Admittedly, it is high time for the three functionalities to launch. Our most recent conversations with the auditors have given us much more confidence with the update timeline. We will do our very best to make sure that the audit is ready on time and all these solutions can be launched safely and on time!
- July 1, 2021 — final estimated date for the launch of the Nimbus Wrap Machine.
- July 9, 2021 — final estimated date for the launch of Lending-Borrowing dApp.
- The Peer-to-Peer Exchange should follow shortly after — the final estimated timeline will be announced soon.
Why not Use the Waiting Time Wisely?
While you wait for it all to come alive, we would like to remind you that the Nimbus Platform currently holds many rewarding opportunities that you can take advantage of. To name a few:
1. Nimbus Staking
- 6 different options to choose from
- Rewards up to 80% APY
- Rated by NEWSBTC as on of the top 3 most attractive Staking opportunities in DeFi
Want to learn more about it? Hop on to this post for a quick read 👉 https://nimbusplatform.medium.com
2. Liquidity Providing and LP Staking
- Receive 2 rewards at once: swap fees plus 100% APY reward on LP Staking!
- Multiple pairs to choose from — both on BSC and Ethereum
- More exposure worldwide plus more use-cases for Nimbus tokens and platform overall brings even more benefits for LP providers
3. The Nimbus Referral Program
- For the Nimbus Referral program, we have lowered the participation requirement from 250 to 50 USDT worth of NBU. So now, you only need 50 USDT in NBU to activate your participation in the program.
- We have also increased the automatic staking rewards for the NBU tokens that were acquired via the Program. This creates additional exposure and incentives for market participants in regions that Nimbus is currently expanding on, such as the Asian market.
A new referral guide will be released soon — so stay tuned!
With Potential Comes Great Responsibility
In the abundance of caution, we believe that rescheduling the upcoming launches until the audits are complete was a strategic decision in the interest of our community.
We apologize for the inconvenience caused and look forward to delivering more opportunities in a safe, secure, and optimistic setting.
We thank you once again for your understanding and support! More details will be released in due course.