Updated Roadmap for 2022
As a DeFi lending protocol that provides crypto loans to real businesses, NAOS’ roadmap plan requires constant re-alignment of needs from lenders and borrowers. While the borrowing demand remains strong, the liquidity supply and lending appetite have become more cautious due to recent market conditions.
With that said, we remain dedicated to our mission. With real world assets now accounting for 5% of MakerDao’s interest revenues, we’re optimistic about how DeFi may evolve in the coming quarters and years. We’re encouraged by ecosystem partners’ surging interests in innovating with us, together we believe NAOS holds the key to sustainable and predictable yield from real world assets.
The team continually analyzes the situation and re-prioritizes resources to ensure liquidity is properly connected to real world assets with suitable risk-reward profiles. As most of our liquidity partners are new to “regulated DeFi”, we concluded that more onboarding preparation is required for our liquidity partners and decided to postpone the launch of liquidity related partnerships. We’ll assist our partners with legal structure setups and compliance fulfillment. More importantly, providing their communities with the necessary information and understanding of RWA lending.
What have we done in Q1 and Q2?
We’ve successfully incorporated DeFi insurance in RWA lending, a significant step from over-collateralized lending to credit-based lending. The borrowers are able to purchase insurance coverages to provide first-loss guarantees instead of committing to the junior tranche themselves, thus reducing the need for over-collateralization.
We’ll continue working with our insurance partners to optimize insurance premiums based on borrowers’ credit ratings, and scale the insurance pool in anticipation of incoming RWA on-chain.
Less visible to the community but a crucial component in the operation, we’ve developed a management portal for borrowers — containing monthly billing information on interest, insurance and penalty, all lender and funding details, repayment records and available facilities. The goal is to provide a banking experience comparable to what they’re used to in TradFi. We will continue to optimize and build a better infrastructure for all NAOS stakeholders.
We’ve completed a website upgrade with multiple UI/UX improvements, and launched a multilingual version for the global community. As of now, we’re also working on simplifying the dApp flow and the KYC process.
Bull or bear market, the team has never stopped optimizing and building.
What’s been updated?
Corporate Treasury Program (Q2), Liquidity Partnership (Q2) will be postponed by 1–2 quarters depending on market conditions. The delay is not related to the progress of NAOS product development, but an anticipation of liquidity partners readiness. We will continue engaging and onboarding partners on a rolling basis.
NAOS Bond Program (Q3), similar to Olympus Pro which allows users to exchange existing liquidity for NAOS tokens at a discount, will be postponed until better market conditions. We believe the delay is for the best interest of the project.
Multi-currency support for ALPHA Pool (Q3) will launch in tangent with Liquidity Partnerships, this is to ensure we provide all optionalities as part of the lender onboarding process.
We look forward to community feedback and initiatives to accelerate protocol growth and expand the range of services available! If you have any questions regarding the roadmap update, feel free to ask on Telegram.
About NAOS Finance
NAOS Finance is a decentralized real-world asset (RWA) lending protocol that facilitates the borrowing of crypto native assets by using RWA as collateral. NAOS has established a large network of corporate borrowers and is operating with financing licenses in multiple regions. In the effort of connecting CeFi with DeFi, NAOS takes an ecosystem approach and looks to engage in meaningful strategic partnerships to expand the boundary of decentralized finance.
