Overview

Nerite is a new over-collateralized stablecoin protocol issuing the yield-bearing USDN stablecoin which is Redeemable, Streamable and Unstoppable.
Nerite is a fork of Liquity V2, and has the exclusive license to deploy on Arbitrum.

Redeemable

Borrowers open vaults and borrow USDN against their ETH at any interest rate they choose, even 0%. At any time, USDN holders may redeem 1 USDN for $1 of ETH in which ever vault is the lowest collateralized, ensuring a hard $1.00 USD Peg. Fees from the interest rate mostly go towards yield for USDN holders.

Streamable

USDN is the first natively streamable stablecoin. It is ideal for use in subscriptions, salaries, vesting, and grants.

Unstoppable

Nerite has limited governance, no new collaterals can be added to the protocol and the code is non-upgradable.

The Vision

Nerite has no VCs and no airdrop. It is built by industry veterans with direct support from Liquity and Superfluid.