NUTS Finance is dedicated to building open source technology solutions to enable simple issuance of diversified financial instruments on public blockchains; empowering all types of Financial Service Providers by simplifying the issuance process, and further enriching instrument diversity on blockchain networks.
NUTS Platform, developed by NUTS Finance is an open source technology framework designed for Financial Service Providers to issue and manage diversified financial instruments on the blockchain. Specifically, the NUTS Platform aims to serve the following functions:
- To simplify the issuance process for multiple classes of financial instruments on public blockchains
- Enrich financial instrument diversity to enable different forms of risk management strategies and asset quality classification
- Plug-and-play solutions to enable non-technical savvy teams and individuals to build and participate in the open finance ecosystem
- Compatibility for financial applications with varying degrees of decentralization
- Modularized - our approach to simplifying the issuance process for complex financial instruments is by modularizing technology solutions in a way that is business objective oriented, highly standardized and reusable. This design offers the highest level of flexibility and efficiency for financial application builders.
- Stateful - financial contract states are immutable, discoverable and can be easily managed and analyzed by contract participants.
- Open source - we are committed to providing transparency, auditability and truly open access to all participants interested to take part in the open financial system.
The NUTS Platform is a technology framework designed to support multiple classes of financial instruments characterized by the following attributes: - Exchange frequency of instrument is non-latency sensitive - Instruments possess a natural status lifecycle (delinquent, defaulted, liquidated, etc.) - Instrument trades in a peer-to-peer, off-exchange and non-atomic format In general, we characterize such instruments as non-standard financial instruments. Instruments that fall under such categories include loan, forward contracts , swaps and various forms of promissory notes. At the initial stage, NUTS Platform is designed to support the issuance of financial instruments based on ERC-20 and Quark native tokens. Specifically, our standardized modules will support the issuance of (i) Lending contracts (ii) Borrowing contracts (iii) Swap contracts (iv) Savings contracts.
We observed several legacy problems regarding to the traditional financial system; lack of transparency and counterparty risks caused by rent seeking intermediaries have been a major hurdle in many financial transactions. We believe with the use of distributed ledger technology, consensus trust mechanism combined with game theory economics, the overall transparency, efficiency, and accessibility of the financial system can be greatly improved.
Our vision is to enable an open, inclusive and transparent financial system by simplifying the issuance process of traditionally complex financial instruments. The ultimate goal is to reduce the barriers to entry in financial services markets for all participants. As we are creating the building blocks to support an open financial system, we are aware of the magnitude of this project. Hence, we would need all the development support we could get from the community. We welcome constructive feedback and challenges from anyone who shares our vision and we believe the best way to achieve this is by being transparent with our methodologies and approach.
Our target users include Financial Service Providers (FSPs) who are interested in integrating blockchain technology as part of the financial instruments issuance workflow.
Specifically; digital asset lenders, digital asset exchanges and digital asset OTC brokers have specific use cases for our technology solutions.
Also, please note that our definition of FSPs in the open finance context includes both businesses and individuals; because we believe open source technology empowers individuals to compete with financial institutions on a leveled playing field.
At the initial stage, we will focus our efforts on crypto FSPs since this group is already familiar with the benefits of open finance. As on-chain asset continues to grow through native origination and off-chain migration, we envision our technology solutions to be adopted by all participants in the financial services markets; individuals and businesses, crypto maximalists to Wall Street veterans.
At the current stage, NUTS Platform is a collection of modules composed of smart contracts. As we continue to introduce open, secure and modularized technology for the open finance community, NUTS Finance will be introducing capabilities ranging from smart contracts to developer tools. For more information on our development roadmap, please visit our Domain Model.
Our goal is to deploy our solutions to multiple public blockchains to enable an open finance ecosystem within each blockchain network. With that being said, we are currently building on the Ethereum and QuarkChain network. We chose to build on these networks for a few compelling reasons: (i) amount of assets stored on the network (ii) integration with existing DeFi infrastructure (iii) network’s technology capabilities such as flexibility, scalability and usability. As we prioritize the next blockchain network for deployment, our decision would be based on the network’s compatibility with the open finance vision.