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Citadel.one and Nexus Mutual to Jointly Work on Advanced DeFi Projects

by Jose Brown
December 17, 2020
in Cryptocurrency News
0
Citadel.one partners Nexus Mutual

Citadel.one, the non-custodial PoS (proof-of-stake) service provider for decentralized finance (DeFi), has announced its partnership with Nexus Mutual, Ethereum-based mutual insurance, to research an advanced DeFi project, named DeFi Recap jointly. Citadel.one also manages and stores various crypto assets, thereby enabling the users to create public addresses for all supported networks.

The platform’s analytical dashboard provides relevant information like wallets’ balances and the main metrics of the associated networks. One of the main functions of the Citadel.one platform is its participation in the PoS (proof of stake) consensus. This enables users to stake and delegate their underlying assets, or claim rewards, following the latest network proposals in the platform’s voting tab.

With this partnership with Nexus Mutual, both the platforms have agreed to explore the various functions of financial derivatives, which have been serving as the most essential financial tools for ages. Derivatives are the most mature and sophisticated instruments in the financial market.

With DeFi, developers can recreate traditional financial instruments like Derivatives in a decentralized context, and therefore the DeFi derivatives have become the mainstream financial and crypto investment tools. If properly executed, DeFi derivatives have the potential to bring a multitude of investors and institutions. The partnership between Citadel and Nexus Mutual is meant to bring out these perspectives of derivatives as effective marketing tools.

DeFi derivatives may include cryptocurrencies, stocks, bonds, commodities, interest rates, and currencies. DeFi derivatives are contracts that help users to hedge or mitigate their risks. With DeFi derivatives, users can also link their asset performances to external events. It also enables users to interact with an underlying asset, even without having direct access to the asset itself. Overall, it helps users leverage even a small movement in an underlying asset, resulting in huge profits.

Jose Brown

Jose Brown

Jose Brown writes about cryptocurrencies and blockchain technology. He joined Current Cryptocurrency.News as a news writer, and he has years of experience in news writing. He also loves trading cryptocurrencies, and in his free time, he learns new tools of trading platforms.

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