Earlier this year, a governance proposal passed where the community voted ‘Yes’ for QuickSwap to deploy on the Soneium Testnet and, ultimately, Mainnet. The hype for Soneium and the DEX’s eventual launch on the chain has been nothing short of phenomenal.
As the Soneium starts to grow and develop, it’s imperative that QuickSwap develops partnerships and integrations with the chain’s top ecosystem protocols.
Enter Neemo Finance, the leading liquid dApp staking protocol for Astar Network. They’ve already developed and deployed a partial implementation on the Astar EVM Mainnet called ‘nrASTR’ (with ~108 million of ASTR tokens in TVL). They’re currently expanding to include ASTR, ETH, and BTC LRTs (Liquid Restaking Tokens such as nrASTR, nrETH, and nrBTC).
Furthermore, Neemo Finance has already been accepted into the acceleration programs by both Soneium and Astar Network.
Neemo Finance is in the works of developing Curator Vaults on the Soneium Minato Mainnet and would like to invite Quickswap as their Curator partner, which would require an investment from QuickSwap (more details below).
Next Steps:
- To begin, the governance discussion on the official QuickSwap Discord & Reddit will run until Saturday, December 7 at 10:30 AM UTC
- Once the Discord & Reddit discussions finish, a formal Snapshot vote will begin and run until Wednesday, December 11 at 10:30 AM UTC
- Once you’ve read this entire blog post, make sure to visit the official QuickSwap Discord server & Reddit discussion forum to share your perspective with your fellow community members
What Is Neemo Finance?
Neemo Finance is building a liquid staking/restaking protocol through their nsASTR, nrASTR, nrETH, and nrBTC tokens. These liquid staking tokens are fully optimised to maximise rewards and liquidity on the Soneium chain, developed by the Sony and Astar teams.
By providing a highly efficient staking structure with no need for restaking and enabling native staking/unstaking, Neemo allows users to mint LSTs/LRTs and earn maximum rewards from the start.
With a strong backing from Soneium and Astar Network, including selection for an Unstoppable Community grant, Neemo is well positioned for rapid growth.
Since their launch in September 2024, they’ve reached around 110M ASTR ($8M) in staking TVL - this is without even issuing nsASTR (ASTR LST).
Their team anticipates additional growth after the Soneium Mainnet launch and nsASTR issuance. Plans include expanding into ASTR, ETH, and BTC LRTs, launching on Soneium, and introducing additional DeFi products. Furthermore, they are currently raising $1.6M at a $20M valuation as part of their seed round.
Links
Website: https://neemo.finance/
Discord: https://discord.gg/Mv7a9sunXh
Gitbook: https://docs.neemo.finance
QuickSwap As A Curator Vault
Through the development of nsASTR, an LST for ASTR, Neemo Finance has proposed to collaborate on creating a Curator Vault with Quickswap.
Similar to Ether.fi’s liquid feature, QuickSwap could act as a Curator Vault that optimises LPing performance. Unlike Ether.fi’s Vault, nsASTR is an LST for ASTR, allowing Neemo to direct Astar’s dApp staking votes to Quickswap.
Despite nsASTR minting only starting after Soneium’s Mainnet launch, Neemo has already acquired over 100M ASTR that has been selected by Soneium Spark acceleration. They expect TVL to grow significantly, helping elevate QuickSwap’s dApp staking tier.
Why is this important?
As DeFi integrations grow, it becomes increasingly challenging for the Neemo community to identify the best opportunities. Moreover, certain activities like LPing on DEXs require specific expertise (e.g., selecting tick ranges) to optimize performance. Curator Vaults will simplify this process and expand integrations over time, growing alongside nsASTR, nrASTR, nrETH, and nrBTC.
QuickSwap has a unique opportunity to play a key role here and continue to push adoption on Soneium x Astar.
Neemo Finance’s current design is most similar to Beefy Finance, where users deposit appropriate assets into a Vault designated by the Curator. The Curator then manages LPing or asset strategies, enabling users to easily earn Vault revenue with a seamless UX.
For Curators, this structure brings TVL growth, performance fees, and additional revenues. In the case of nsASTR/nrASTR, Curators (in this case QuickSwap) also benefit from ASTR votes delegation. Vault creation is restricted to whitelisted participants, prioritizing protocols that invest in Neemo.
Additionally, QuickSwap (as an exclusive partner) would receive additional reward incentives.
Investment From QuickSwap
This proposal is for the dragon community to decide if QuickSwap should invest in Neemo Finance (as a DAO) and become a Curator partner for liquid restaking on the Soneium chain.
The investment options are as follows and will be outlined in the vote:
- $5,000
- $10,000
- No investment
Please note that if an amount of investment is agreed upon by the community, the investment would be made by the QuickSwap DAO treasury.
Join the Discussion
As always, QuickSwap community members are encouraged to participate in and contribute to QuickSwap governance discussions and proposals across all of QuickSwap’s online forums, especially on Discord & Reddit. As a Dragon, you are a valued community member and your opinion matters – but you have to participate in community voting procedures to make it count.
Critical decisions guiding QuickSwap’s strategic development will always be determined by way of decentralized governance. QuickSwap’s future is in your hands, so make your voice heard!