Performances
RD Popularity Index
RD Growth Index
Comparison
Follow Updates
Follow Lists
People
About Nerite
Nerite is a decentralized lending protocol deployed on Arbitrum, operating as a fork of Liquity V2. Its core business allows users to deposit crypto assets such as ETH, wstETH, rETH, ARB, COMP, and tBTC as collateral to borrow the USND stablecoin, which is pegged to $1.00. Each borrowing position, called a "trove," is represented as an NFT, and users set their own interest rates.
The protocol's key differentiators include: first, it is governance-minimized with immutable core code, meaning no governance body can alter collateral types or mint new stablecoins, addressing the risk of centralized control seen in older CDP protocols like Maker. Second, USND is a "super-token" built on Superfluid, enabling continuous money streaming for use cases like payroll, grants, and subscriptions. Third, it supports multiple collateral assets, unlike Liquity V1 which only accepted ETH, while implementing debt limits for each asset to manage risk. Fourth, it uses OEV (Oracle Extractable Value) auctions to capture revenue from oracle price updates, returning value to the protocol.
Regarding market pain points, Nerite addresses the trade-off in existing CDP protocols: either strict governance with collateral risk (Maker) or limited collateral flexibility (Liquity V1). By combining immutable rules with multi-collateral support, it aims to offer both safety and usability.
In the past six months (March to September 2026), NERI, the governance token, experienced significant price volatility. According to CoinGecko, its all-time high was $0.001880 in April 2026, and its all-time low was $0.0002353 in July 2026. As of early September 2026, the market cap stood at approximately $19,580, with a 24-hour trading volume of about $895. Notably, trading of NERI on all tracked exchanges has been halted for 22 days as of the data date, indicating a lack of active market liquidity. The circulating supply was approximately 83.13 million tokens out of a total supply of 100 million, with portions allocated to vesting contracts and a DAO treasury.
Nerite, a Liquity V2 fork on Arbitrum, has made significant progress in the past six months. The protocol launched its mainnet, introducing the USND stablecoin and NERI governance token. Key developments include a liquidity incentive program distributing $25,000 USDC across Bunni and Camelot pools, plus SHELL points for early LPs. The team delegated 65,000 ARB to its own DAO via Aragon, enabling participation in Arbitrum governance. Nerite also ran an "Arbitrum Week" campaign offering 5x boosted SHELL points for ARB-backed loans. Looking ahead, the roadmap focuses on expanding collateral types beyond the current 8 assets, deepening integrations with Arbitrum DeFi partners like Superfluid and Bunni, and launching a dedicated rewards program for BOLD/USND LPs on Ethereum mainnet. The protocol emphasizes governance minimization, with Summerstone managing interest rates and Octane Security providing automated auditing. Future plans include more partner incentives and cross-chain expansion.
Joseph Schiarizzi (aka CupOJoseph), founder of Nerite. He holds a BS in Computer Science from George Washington University and has served as Senior Solidity Engineer at OpenSea, Developer at ConsenSys, Developer Relations at Gitcoin, Senior Software Engineer at Discovery, and Lead Engineer at Airbus. He was also CEO of Open Dollar and CEO of Nifty Chess. In 2023, he founded SolarpunkVC and currently leads Nerite while serving as Falls Church Lead for YIMBYs of Northern Virginia. Smart contracts he created or helped write have settled over $10B. No reliable public information was found on other co-founders or current core executives. | |