BitWell Institute – NAOS Finance (NAOS) Project Analysis

1. Short Review of the Institute

The DeFi market has seen a boom in the past two years, of which decentralized lending is an important track. The earliest DeFi protocol that has received wide market attention is MakerDAO, which provides collateralized lending business. Although the volume of funds in the lending protocol has reached tens of billions of dollars, it is still insignificant compared to the traditional bank lending business in CeFi, mainly due to the limitations of the application scenario caused by the closed nature of DeFi.

The introduction of real assets is a must for DeFi to come out of the loop, not only to enrich the asset types and total assets of DeFi, but also to provide users with low collateral loans. At present, lending protocols such as MakerDAO are already exploring lending solutions with collateralized real assets, and the whole track is still at a very early stage. NAOS Finance has accumulated business, compliance, and asset volume, and it has a certain first-mover advantage.

In terms of team and backing, NAOS Finance’s team has experience in traditional finance and internet finance industry. Besides, it has received investment from many well-known institutions, especially from head exchanges, which is favorable for NAOS tokens to go live on exchanges in the future.

The risk point of NAOS Finance mainly lies in the compliance and legal risk. It is a difficult problem to confirm the rights of real assets on the chain, and it is difficult for the current law to effectively manage the assets on the chain, and some jurisdictions may block NAOS Finance when it reaches a certain volume that affects the traditional banking system.

To sum up, NAOS Finance has an ambitious vision, and if the product can meet expectations, it may become the leading project in this new track. With its core product Galaxy officially launched this month, you can keep an eye on how its full range of products will run once they are online.

2. Introduction of the project

NAOS Finance facilitates loan origination and financing for DeFi lenders and SME borrowers by allowing both parties to interact without permission on the blockchain. NAOS Finance provides lenders with a steady stream of recurring revenue while also combining on-chain and off-chain. The goal is to fully automate real-world assets and use them as part of the end-to-end lending process through NAOS Finance.

3. Token Role

Farm, get deposit eligibility, decentralized governance.

4. Token allocation

The maximum supply of NAOS tokens is 300 million tokens, and it is allocated as follows:

  • Liquidity mining reward: 30%
  • Eco Fund: 25% (50% released at launch, the rest after 1 year)
  • Teams/Advisors: 23% (released linearly every quarter for 2 years)
  • Private/Public: 22% (a small portion released at launch, most released linearly every quarter for 1.5 years)

5. Investment institutions

In March 2021, NAOS Finance closed a seed round with undisclosed funding from Mechanism Capital, The Spartan Group, SNZ, Sora Ventures, Incuba Alpha and others.

In April 2021, NAOS Finance closed a $5.1 million private placement round with participation from The Spartan Group, Lemniscap, CMS, Huobi DeFi Labs, HashKey, Maven 11, Genesis Block Ventures, Incuba Alpha, DeFi Alliance, Collider Ventures, OKEx Blockdream Ventures, Morningstar Ventures, Youbi Capital, A&T Capital, GBIC, PrimeBlock Ventures, Primitive Ventures, GenBlock, AU21 Capital, and Hash Global. In addition, individual investors participating in the round include Quantstamp CEO Huadong Ma and Fosun Group co-founder Xinjun Liang.

According to the official website, NAOS Finance has already received investments from dozens of institutional and individual investors, including top blockchain venture capitalists such as AU21, CMS Holdings, A&T Capital, and investment funds owned by head exchanges such as Coinbase, Firecoin, OKEx, and MXC.

6. Basic Information

Token name: NAOS

Project website: https://naos.finance/

Block-query: https://etherscan.io/token/0x4a615bb7166210cce20e6642a6f8fb5d4d044496