Nibiru Chain (NIBI): Empowering Developers Across Web3 Industries

A blockchain development project can rapidly escalate in complexity due to the variety of standards, tools, languages and frameworks necessary for building decentralized apps (DApps) from the ground up. Even when a DApp has been built on a particular chain, it often exhibits poor interoperability with other networks. The complexity and inadequate interoperability inherent in typical blockchain application development present significant barriers to the expansion of web3.

Nibiru Chain (NIBI) is a developer-friendly blockchain platform that aims to reduce the complexity of the DApp development process. This Layer 1 platform provides an array of development tools and frameworks designed to streamline and accelerate the creation of DApps.

Built using the Cosmos SDK, Nibiru benefits from great interoperability with numerous blockchain networks via Cosmos's Inter-Blockchain Communication (IBC) bridge. In addition to its interoperability and developer-friendliness, Nibiru boasts a secure environment and high transaction throughput. What more could a blockchain developer ask for?

Thanks to the numerous benefits offered by its platform, Nibiru is quickly gaining the interest of investors and developers.

Key Takeaways:

• Nibiru Chain (NIBI) is a Cosmos SDK–based Layer 1 blockchain that features superior throughput, fast finality, excellent security and a user-friendly smart contract ecosystem.

• Its blockchain focuses on enabling DApps across niches like DeFi, RWA and gaming, among others.

• Nibiru achieved significant success with its incentivized testnet operations in 2023, and has just launched its mainnet as well as its native token, NIBI.

What Is Nibiru Chain?

Nibiru Chain (NIBI), a Layer 1 blockchain network developed using the popular Cosmos SDK framework and Tendermint Core Byzantine fault tolerance (BFT) system, aspires to become the leading developer-friendly and user-friendly environment in the web3 industry. Its blockchain is geared toward creating highly secure, interoperable and efficient DApps in areas such as decentralized finance (DeFi), real-world assets (RWAs) and gaming.

Nibiru Chain was founded in 2022 in Palo Alto, California by Unique Divine, Kevin Yang and Joonathan Gimero. Its technical advantages and developer-friendly features have attracted significant interest from the blockchain-focused venture capital (VC) community, with the project having raised $20.5 million in funding as of mid-March 2024.

Nibiru launched its testnet in 2023 and its mainnet on Mar 12, 2024.

How Does Nibiru Chain Work?

As a Cosmos SDK–based blockchain, Nibiru uses a delegated proof of stake (DPoS) block validation model to power its operations. With DPoS, users can allocate their stakes to a preferred validator node and earn a proportion of the block validation rewards.

Nibiru’s block validation system is designed to maintain high throughput and processing efficiency. In addition, its Tendermint Core functionality facilitates instant finality and prioritizes security to prevent double spending and forking, thanks to its BFT approach. A block of transactions is confirmed on the network in an average time of 1.4 seconds, and the platform’s overall throughput capacity is 40,000 transactions per second (TPS) — one of the best results in the industry.

DApps developed and hosted on Nibiru can establish cross-chain communications with dozens of other blockchains using the Inter-Blockchain Communication (IBC) bridge, a popular interconnectivity solution linking the vast majority of Cosmos blockchains. The IBC bridge is a critical platform, enabling users to move digital assets quickly and seamlessly between blockchains within the Cosmos ecosystem.

Nibiru Smart Contracts

Nibiru’s smart contract ecosystem is based on CosmWasm, a modular framework for developing blockchain contracts using WebAssembly (Wasm) technology within the Cosmos ecosystem. These smart contracts power Nibiru's primary execution engine.

Due to CosmWasm's modular design, it can be added to different blockchain networks without requiring all smart contracts on those networks to use it. Its smart contracts are also upgradeable, making its structure not only flexible but also future-proof. Additionally, its smart contracts are interoperable with any other IBC-linked chain. 

CosmWasm-based contracts also feature enhanced security. They’re largely resistant to re-entrancy attacks, a form of smart contract exploit to which alternative Ethereum-based Solidity smart contracts are highly vulnerable.

Developer Tool Kit

Nibiru offers several technologies and tool kits that let client apps interact with the underlying blockchain. One of these is NibiJS, an app development framework based on TypeScript, an extension of the popular JavaScript programming language. NibiJS is particularly suitable for the development of web apps using the React and Vue JavaScript libraries, as well as for interaction with browser-based wallets like MetaMask and Keplr.

The platform’s comprehensive dev toolkit also includes SDKs for three other popular languages — Rust, Golang and Python.

Nibiru Chain DApps

Nibiru Chain already features over a hundred early DApps and solutions developed by the project team and its ecosystem partners. The chain's excellent technical properties, including high throughput, finality and security, make it an ideal environment particularly for DeFi apps. Among DeFi-related products on the platform, three of the notable ones are Nibi-Perps, Nibi-Swap and Nibi-Oracle, solutions that enable the next era of money in web3.

Nibi-Perpsis an app for fully on-chainperpetual futures trading. By offering this product, Nibiru aims to solve some common problems in decentralized perpetuals trading, such as high latency during high volatility, imbalances in open interest and low numbers of unique traders.

Nibi-Swapis an automated market maker (AMM) crypto exchange that facilitates crypto asset swaps and liquidity fund provision. All Nibi-Swap operations are permissionless, which helps integrate the platform with external DeFi apps without the need for intermediaries.

Nibi-Oracleis an on-chain oracle solution that provides Nibiru-based DeFi apps with up-to-date and accurate external pricing data. Nibiru's oracle setup is quite unique, and unlike the typical blockchain oracle systems used on other platforms. On the Nibiru blockchain, validator nodes act as oracles by voting on swap rates between pairs of cryptocurrencies. The nodes source these rates from various external platforms and major liquidity centers. A voting cycle occurs every few blocks to establish consensus-based, fair swap prices.

Besides the DeFi products above, other notable Nibiru initiatives include Nibiru USD (NUSD), a stablecoin designed to simplify operations involving various USD-pegged stablecoins on the platform, and Coded Estate, a dynamic NFT-based marketplace for tokenized real estate trade.

Using Nibiru Chain

Nibiru Wallets

The best crypto wallets to directly interact with the Nibiru ecosystem are Leap Wallet and Keplr. The former is recommended specifically by the Nibiru team. Both Leap and Keplr are capable of supporting the entire ecosystem of Cosmos blockchains.

Nibiru Web App

Nibiru Web App is a web-based interface designed to provide access to some of the critical functions and DApps on the Nibiru platform. Using the Web App, you can access the Nibi-Perps and Nibi-Swap trading platforms, stake your funds on a preferred validator, and claim your staking and airdrop rewards.

Nibiru Chain Gamified Engagement Airdrop

Nibiru Chain launched its native token, NIBI, on Mar 12, 2024. A month earlier, between Feb 7 and Feb 28, the platform conducted a unique Gamified Engagement airdrop in which users were rewarded with points for interactions with Nibiru’s social media pages. Different points were awarded depending upon the task involved. For instance, following Nibiru's page on X (formerly Twitter) could earn you 5,000 points, while subscribing to the platform's YouTube channel was worth 500 points. The engagement airdrop campaign involved Nibiru's pages on six major social media platforms — X, Discord, Telegram, TikTok, YouTube and Instagram.

Nibiru Chain’s team clarified that the earned points, called Nibi Points, will be used to provide various rewards to holders upon the launch of the project’s mainnet.

What Is the NIBI Token?

The platform’s native cryptocurrency, NIBI, is designed for several critical functions. First, NIBI is used in the staking process. Validator nodes need to stake NIBI in order to participate in the block processing activity and earn the associated rewards. Other users can also delegate their NIBI funds to a preferred validator and earn a part of the rewards.

NIBI also acts as a decentralized governance token. Stakers can vote on proposals related to any changes to (and future development of) the platform. Additionally, the token is used to pay for network/gas fees to initiate on-chain transactions.

NIBI has a total and maximum supply of 1.5 billion. The entire supply will be distributed over a period of eight years, starting from the token generation event (TGE) on Mar 12, 2024. NIBI’s total supply allocation shares upon full distribution are per the chart below.

Nibiru Chain Price Prediction

As of the time of this writing (Mar 15, 2024), the NIBI token is in its initial days of trading. The token’s current price is $0.618, with initial trading activity registering a significant uptrend. Naturally, it's too early to speculate about NIBI's short-term price outlook at this stage.

Long-term forecasts for NIBI on all major portals point to a higher price than the current, early trading price. PricePrediction expects NIBI to trade at a high of $1.40 in 2025 and $9.44 in 2030, whileDigitalCoinPrice forecasts a more gradual ascent to $1.56 in 2025 and $4.48 in 2030.

Is Nibiru Chain a Good Investment?

Although NIBI is new on the market, the project’s past achievements point to a sound longer-term potential for the token. However, it always pays to be prudent in your investment and conduct sound research prior to investing.

In 2023, Nibiru Chain achieved significant success with its incentivizedtestnet. Around 4 million wallet addresses and 137 million transactions were registered on the testnet between February and November 2023, indicating strong interest in the user community toward the new platform.

Additionally, the investor community hasn’t remained indifferent to Nibiru Chain, with the project having raised over $20.5 million thus far. This came over two funding rounds, the latest in February 2024, when Nibiru raised $12 million from the likes of Kraken Ventures, NGC Ventures, Tribe Capital and Banter Capital, among other VC backers.

These achievements are rather unsurprising, considering that Nibiru’s network features outstanding technical properties — 40,000 TPS, six-second transaction finality and 1.4-second block times. On top of that, the platform utilizes highly secure CosmWasm-based smart contracts, offering developers a rare combination of excellent security and high performance.

Where to Buy Nibiru Chain (NIBI)

The NIBI token is available on Bybit via a Spot pair with USDT (NIBI/USDT). Additionally, between Mar 12 to Mar 26, 2024, you can join the Bybit Launchpool campaign to earn a share of 3,750,000 NIBI by staking either USDT or NIBI. If you don’t have a Bybit account, you can easily register for one and access hundreds of crypto assets and products offered in our Spot and Derivatives markets.

Closing Thoughts

Early 2024 has been an eventful time for Nibiru Chain. The project has successfully launched its mainnet and native token and secured significant funding of $20.5 million. With stellar technical performance, unparalleled security and a focus on developer-friendliness, the platform might easily emerge as a key player in the blockchain industry later this year.

Following the highly successful incentivized testnet conducted in 2023, during which the project notched an impressive 4 million wallet signups, Nibiru can expect at least comparable performance from its brand new mainnet.

These are still the early days of Nibiru's full-fledged market presence. Over the next few weeks and months,things will settle in and more objective assessments of the platform's performance will emerge. But even at this early stage, Nibiru Chain's solid fundamentals suggest a promising future, backed significantly by enthusiastic blockchain investor and developer communities.

Nibiru Chain’s smart contract ecosystem is leading the way toward mainstream web3 adoption with its new mainnet — a development that will definitely shake things up in the web3 landscape. 

#LearnWithBybit