Product announcements, feature updates, industry insights, and technical posts about blockchain, yield aggregation and prediction games.

Stay tuned for our updates and discover industry insights, deep dives, product updates, and more.

Subscribe to our newsletter

Nezha blog - NEZHA

NEZHA

Nezha blog

NEWS

NEZHA APP

In this article, we’re going to be revealing the upcoming Nezha Testnet launch, exploring how you can get involved, and revealing a special sneak-peek at some of the engagement campaigns and prizes up for grabs for those who participate!

The Nezha testnet launch is the first opportunity for our community to use and explore our gamified yield aggregation protocol! The testnet will include most of the functionality you can expect in our mainnet launch, except it won’t be using real funds. 

As this is the first opportunity for our community to interact with the interfaces of the <a href="https://www.nezha.fi/blog/exploring-the-nezha-draw-100000-jackpot-available-every-week">Nezha Draw</a>, and familiarize themselves with how it will work, those participating in our testnet will be at an advantage for participating as soon as our mainnet launches!

We will be gathering feedback from testnet users after the event is finished, and we want your valuable feedback on how intuitive our UX & UI is, your experience in participating in the Nezha Draw, and anything else you believe could be improved. We’re also looking for feedback on those features which you particularly enjoyed, as we look to make the Nezha Draw as playable as possible! 

For those who participated in the Nezha Draw testnet, you won’t just be rewarded with early access. We’re also planning an action-packed testnet period where we’re giving away Solana NFTs, cash prizes, and official Nezha merchandise - only available to those who participate!

The Nezha draw is gamifying yield aggregation by combining prediction events with yield farming. Nezha players can earn game tickets from staking $USDC to the protocol (test $USDC while we’re in our testnet phase), which entails 6 numbers each. Yield is aggregated over the game cycle with our yield partners over the span of a week.

On the last day of the cycle, six random numbers are generated in a live draw event. There’s a chance every single week to win the jackpot, which is at least $100,000 USDC! The minimum staking requirements start at just $25 USDC, but you can stake all the way up to any amount of your choice for increasing chances to win!

You don’t need to forfeit your initial liquidity during the game if you don’t win, only the yield that has been generated on it. After each game cycle, you have the option to unstake your initial liquidity and your winnings, or to continue to leave your $USDC staked for another chance to win!

How can you get involved? A summary of the process to participate

To participate in our testnet launch, you’ll need to follow the few simple steps below. Make sure you read the steps carefully, because we’re also making some unique NFTs available for lucky winners who participate in our testnet launch! 

Remember, many of these steps will help you set up for our mainnet launch, so by participating in our testnet you also get a headstart for when we go live! 

Users will need a <a href="https://www.nezha.fi/blog/how-to-set-up-a-solana-testnet-wallet">Solana Testnet wallet</a> to participate in the Nezha Draw. We recommend using Phantom Wallet (<a href="https://chrome.google.com/webstore/detail/phantom/bfnaelmomeimhlpmgjnjophhpkkoljpa?hl=en" rel="nofollow">Chrome</a>, <a href="https://addons.mozilla.org/en-GB/firefox/addon/phantom-app/" rel="nofollow">Firefox</a>), a Web 3.0 wallet that can interface with the Solana network and the Nezha Draw. Please note - Only Solana wallets will be supported. $USDC ERC-20 or any other token type will NOT be supported. Find our full guides on how to set up your Solana wallet <a href="https://www.youtube.com/playlist?list=PLB2heDcQi6GuXQSMFqYZtCpz5Y2MU0dBP" rel="nofollow">here</a>.

Step 2: Submit an application to receive Nezha Testnet $USDC 

To interact with the Nezha protocol on the testnet, you will need to have our unique Testnet faucet $USDC in your wallet. This isn’t real $USDC, so it has no monetary value and it cannot be traded, but it can be used just like real $USDC would for the purposes of our testnet! You can apply for test $USDC by <a href="https://discord.com/invite/nezha" rel="nofollow">joining our Discord</a> and using this <a href="https://forms.gle/w27KNJqHUwuwUKCi7" rel="nofollow">form</a>.

Once you’ve applied above with an official Solana wallet address, users will be airdropped test faucet $USDC tokens, and automatically enrolled to a raffle to win exclusive NFTs for our testnet participants! You don’t have to do any extra steps to join the raffle, simply fill out the form linked above.

You will need additional testnet Solana tokens to pay for transactional fees, you can get these for free <a href="https://solfaucet.com/" rel="nofollow">here</a>. Simply input your wallet address and hit send.

Once your test tokens arrive, you’re ready to use the Nezha testnet. 

Step 4: Go to the Nezha Testnet landing page! 

Head to our <a href="https://platform.testnet.nezha.fi/my-dashboard">Testnet</a>, you’ll be prompted to connect your wallet, or you can manually connect your Solana wallet by clicking ‘Connect Wallet’. Here, you can ‘spend’ and stake your test $USDC just like using the Nezha mainnet!

Once you’ve had a chance to use the testnet, you will be asked to participate in a short feedback survey. We’re also eager to hear about any bugs you may have encountered during the course of the testnet. Only users who complete the feedback survey will be eligible to receive rewards!

Finally, join our community! If you’re not already a Nezharian, join our social channels below. You can also reach out to us with your testnet questions on Discord, Telegram and Twitter as well as email.

We love your reactions! They can give us valuable insights on how to improve what we're doing.

how do you feel about this article?

latest articles

We are inviting up to 1000 people to participate in our Solana-based Gamified Yield Aggregator Testnet. To incentivize participation, we will be awarding Solana NFTs and cash prizes each week. This will require users to use our platform and provide feedback to help improve <a href="https://www.nezha.fi/">Nezha</a>.

In order to join our <a href="https://www.nezha.fi/blog/how-to-participate-nezha-testnet-launch">Gamified Yield Aggregator Testnet</a>, you will need to apply and have Nezha USDC tokens sent to your Solana wallet. In this article, we will go over how to set up a Solana Wallet and configure it to use the Testnet network.

Before starting, you will need to install a Chromium-based browser or use the Firefox browser to install the Solana wallet extensions from this article.

Installing a Solana Wallet Browser Extension

There are two main wallet options on Firefox & Chromium Browsers for the Solana Blockchain. In this tutorial, we will go over both options. These options are Phantom and Solflare. We recommend navigating to these websites via our links or the official Firefox extensions or Google Web Store as there are often malicious third-party extensions.

Installing Phantom on Firefox is incredibly easy. You will need to install the <a href="https://addons.mozilla.org/en-GB/firefox/addon/phantom-app/" rel="nofollow">Phantom extension</a> by clicking “Add to Firefox".

Once you have clicked to add this wallet to Firefox, you should see a prompt appear asking for permission to add this extension, select “Add”.

This should only take a few seconds. However, once installed, your browser will redirect you to your new Phantom Wallet. It’s important that this is set up now and not later, as closing this tab is known to cause some issues and will require you to remove and reinstall your extension.

Installing Solfare on Firefox is incredibly easy. Much like the Phantom wallet, you will need to install the <a href="https://addons.mozilla.org/en-GB/firefox/addon/solflare-wallet/" rel="nofollow">Solflare extension</a> by clicking “Add to Firefox".

Once you select “Add to Firefox”, you should see a prompt requesting permission to add the extension to your browser. If this isn’t done correctly, you may need to reload the Firefox extension page in question to try again.

Once installed, the wallet won’t automatically open. You should see a symbol in the top right for the Solflare wallet. If you don’t see this, make sure you have <a href="https://support.mozilla.org/en-US/questions/1150234" rel="nofollow">extensions enabled</a>.

Install Phantom Wallet on Google Chrome / Opera / Microsoft Edge / Brave

You can install the Phantom plugin on Chromium-based browser very quickly, you will need to install the <a href="https://addons.mozilla.org/en-GB/firefox/addon/phantom-app/" rel="nofollow">Phantom extension</a> by clicking “Add to Chrome".

You may be prompted with an option to verify this, simply click on “Add Extension”.

Once you add the Phantom Wallet extension, the wallet onboarding page will automatically open. If this does not happen, you should see the Phantom Wallet icon in the top right of your browser window. Simply click on the icon, and you will be shown the onboarding page.

Install Solflare Wallet on Google Chrome / Opera / Microsoft Edge / Brave

Solflare does require a few extra steps but is an incredibly easy wallet to install on your Chromium-based browser. 

Once you add Solflare Wallet to your Chrome installation, you will be prompted to verify the installation, simply click on “Add Extension”.

If you already have a Phantom wallet but don’t know how to set up the Solana Testnet, you can skip to here. Otherwise, click on “Create a new wallet”, and ensure you have either a pen and paper or a secure data storage application to hand as you will need to write down your recovery data. Follow the steps as per the images below, as this part will be quite self-explanatory. 

Note: Ensure this password is unique and recoverable, you will need to keep this information completely secure. NEVER give these details to anyone who asks.

Once you have input a password, you will be provided with a Secret Recovery Phrase. This secret recovery phrase will be unique to your wallet, so you will need to keep this data secure and confidential. If a third party were to find these credentials, your account can be recovered and funds inside the wallet stolen.

Unlike other wallets, you will not be asked to re-enter this to ensure you have these phrases. Upon checking the “I saved my Secret Recovery Phrase” and clicking “Continue”, you will have officially set up your Phantom wallet on the Solana Mainnet. Changing this to Testnet is done within a few clicks.

In the top right of your Firefox browser, you should now see an additional icon for Phantom. This icon will be a ghost inside a purple circle. Click this icon and select the Gear in the bottom right. Some users have expressed issues with this loading, so once you click and open the wallet, give it around 20 seconds to load thoroughly.

Once the settings panel of your wallet loads, you will want to scroll down to “Change Network”. If you click or scroll with your mouse, not in the extension window, the window may close, resulting in having to reload the wallet and waiting again.

You will be presented with 4 options under the Change Network tab. Click on “Testnet”, and this will change your wallet. If you want to change it back to the Mainnet, you will need to go through the prior steps again, however, select “Mainnet Beta”. 

Changing your network does not remove/lose funds from your wallet. It simply acts like a different wallet in a different environment.

Once you open the Solflare extension, you will be presented with a multitude of options. These will vary based on what you need or how you want to set this up if you already have a Solflare wallet and need to know how to swap to the Testnet, skip ahead. 

Create a new Solflare Wallet - This is for users who don’t have any wallet at all. This is a great option if you’re new to the Solana ecosystem or don’t have a hardware wallet.

I already have a wallet - This will run you through the recovery stage for connecting your Solflare wallet, you will need your recovery phrase for this step.

Ledger - If you have a hardware wallet, this option will go through the steps of setting up Solflare to work directly with that wallet. Keeping your funds offline is a great way to stay secure but may make using <a href="https://www.coindesk.com/learn/what-is-a-dapp-decentralized-apps-explained/" rel="nofollow">dApps</a> slightly harder.

Keystone - Much like Ledger, this is another branded hardware wallet that utilizes QR codes to help with connections and transactional data

This next part is crucial, you will need to keep your recovery phrases secure and safe. You can use an offline data storage app or a pad and paper, but make sure it is SECURE. You will be asked for these Recovery Phrases on the next page, do be sure to download/copy them.

Simply paste in the recovery details you were supplied, if you didn’t keep a record of them, close out your browser and start from the first steps again.

You will now be prompted to enter a passcode, this can use symbols, numbers, and letters. Be sure to use something safe and not something you use regularly. Apps like LastPass or 1Password can help keep these secure should you need to keep a record of a randomized password.

Once you hit continue, you will have your wallet set up! Congratulations!

How to swap to the Testnet using Solflare

The next few steps will assist you in configuring your wallet to use the Testnet rather than the Mainnet. Simply click on the “Settings” option in the top right of your screen. This will bring down a multitude of options. From here, select “NETWORK: MAINNET”.

Once you have selected the Network options, you will be presented with 3 choices in a list, it’s important that you select “Testnet” and not “Devnet” as they are two separate entities.

Congratulations! You’ve gotten the Testnet on Solflare set up! Should you wish to change back to Mainnet, simply follow the prior steps again and select Mainnet.

Your Solana Mainnet wallet contents and Solana Testnet wallet contents will be different, so don’t panic if they look like they’ve gone missing!

BLOCKCHAIN

In this blog post, we will discover how Nezha is explaining the DeFi ecosystem on Solana. Nezha’s stake to win dynamics brings novel payout mechanisms to the quickly growing Solana DeFi ecosystem.

Let's dive into what makes Solana such a great ecosystem to be in in the first place, and how the Nezha protocol adds to this ecosystem!

So, for those who may be new here, let's briefly recap the unique features of Solana. Solana is a thriving third-generation layer-one blockchain, meaning it is smart-contract compatible and provides a fast, scalable, and decentralized platform, on which other applications can build.

Through its innovative “proof of history” proof of stake consensus mechanism, Solana eases the otherwise required communication, enabling the chain to generate blocks faster. The high transaction speed and affordability are two of the main factors making the Solana ecosystem attractive for both applications and users alike.

Why is Solana becoming so popular for DeFi protocols?

To answer the question for Solanas popularity for DeFi, we want to discuss two important factors: Solana’s liquidity abundance and infrastucture environment, and its engaged community. Solana is offering DeFi projects a highly functional environment to build on. Furthermore, Solana has a highly engaged and skilled developing community, which has provided the ecosystem with multiple innovative projects adding utility to its ecosystem.

While being rather young, the Solana DeFi space has seen lots of high-quality projects providing necessary infrastructure, making it more and more attractive to continue building. Solana has high-quality DEXs such as Serum, and market-makers such as Cropper.finance, Oracles such as Chainlink.io, access to bridges like Wormhole, launchpads, and multiple lending and borrowing protocols such as Francium.io.

As there are more high-quality projects than we can give a shoutout to here, the combination of the Solana Blockchain itself and the developed infrastructure of DeFi projects make it an attractive ecosystem to continue building.

Lastly, and most notably, the highly engaged community make Solana a thriving place in the cryptospace. Since the end of 2020, the cumulative number of user wallets has increased from a few thousand to 12 million, indicating a steep adoption. The community is benefiting from the low transaction costs, which has led to a thriving DeFi and NFT space, and lots of early projects to discover!

Why did Nezha choose Solana as their Blockchain?

In line with the previously introduced benefits of the Solana ecosystem, <a href="https://www.nezha.fi/">Nezha</a> has decided that Solana is the most attractive place to build in. Our protocol and the community benefit from low transaction cost and high transaction speeds.

While the Nezha team has initially considered building on Cardano, the DeFi infrastructure on Solana has proven to be a better match for our protocol's aspirations. While Nezha plans to become multichain in the future, to tap into liquidity on other chains as well, Solana seems to be the place where we can best scale the Nezha protocol!

How will Nezha contribute to the Solana ecosystem?

Nezha adds a novel twist to the Solana DeFi space with our gamification element adding to yield aggregation. With the Nezha Draw, Nezha offers the unique opportunity to gain potential access to the interest generated on the liquidity of all protocol participants.

Through the attractive outlook of winning up to $100,000 USDC right after launch through our <a href="https://www.nezha.fi/blog/the-role-of-insurance">insurance agreement</a>, Nezha is in the position to draw lots of new liquidity into the Solana ecosystem.

Furthermore, in the long run, Nezha plans to offer its technology as a white-labelling solution, providing other projects, such as from the booming GameFi sector, to integrate Nezha’s liquidity engine into their products.

So, on the one hand, Nezha is going to attract new liquidity to the Solana ecosystem, and on the other, Nezha will bring additional infrastructure to Solana, making the ecosystem even more attractive to build on!

Which Solana-based launchpads will Nezha launch through?

After the launch of our testnet and mainnet, we plan to issue our <a href="https://www.nezha.fi/blog/from-high-stakes-to-staking-what-is-the-nez-token-utility">native token $NEZ</a>, packed with utility for our Nezha ecosystem! We will have our IDO on <a href="https://occam.fi/" rel="nofollow">Occam.Fi</a> and <a href="https://safelaunch.io/" rel="nofollow">Safelaunch.io</a>. These are two multi-chain launchpads that will attract new members to the Solana community, and the Solana-native <a href="https://cropper.finance/" rel="nofollow">Cropper.finance</a>, through their fertilizer launchpad.

Make sure not to miss any news about our IDO by joining our social channels. Keep up to date by following us on <a href="https://twitter.com/NezhaFi" rel="nofollow">Twitter</a> and <a href="https://t.me/nezhafi" rel="nofollow">Telegram</a>, and join the growing community of Nezharians on <a href="https://discord.com/invite/nezha" rel="nofollow">Discord</a>!

In total, we have learned that the Solana blockchain is an innovative, high-performance chain well-suited to our needs. Its community and DeFi ecosystem have seen exponential growth, and several high-quality projects are providing the necessary infrastructure on which we can build.

We are therefore excited to be able to soon bring our gamified yield aggregator with stake to win dynamics to Solana. By offering weekly Jackpots of up to $100,000 USDC, Nezha aims to attract great liquidity and contribute to the growth of this amazing ecosystem!

With the launch of the Nezha Draw just weeks away, let us use this article to discover some exciting details regarding the Nezha Draw! We will dive into that by briefly recapping what the Nezha Draw is all about, what we mean by replacing high stakes with staking, the potential prize, and what our plan for the future is. 

For that, it makes sense to take a step back and consider what the <a href="https://www.nezha.fi/">Nezha</a> draw is all about. The Nezha draw is gamifying yield aggregation by combining prediction events with yield farming. Nezharians can earn game tickets from staking USDC to the protocol which entails 6 numbers each. Yield is aggregated over the game cycle with our yield partners, which spans a week.

On the last day of the cycle, 6 random numbers are generated in an exciting live draw event. All tickets that have the first four, five, or six numbers matching, are entitled to win the tertiary and secondary prizes, and the Jackpot respectively, which are fueled by the yield generated during the game cycle. Due to <a href="https://nezha.fi/blog/the-role-of-insurance">Nezhas Jackpot insurance</a>, the Jackpot consists of $100,000 USDC with room to grow, bringing the chance to win big to Solana!

And the best: You don’t forfeit your initial liquidity during the game but just the yield on it. So, after each game cycle, you have the option to unstake your initial liquidity + the winnings, or to continue playing for another chance to win big!

How does Nezha replace high stakes by staking?

Replacing high stakes with staking is a concept core to Nezha’s gamified yield aggregator. Instead of forfeiting your liquidity for the chance to win big, we harness the transformative power of DeFi to generate a return through overcollateralized lending on the pooled stablecoin stakes of all participants.

Through the insurance agreement, we can offer very attractive prizes solely through yield aggregation! Therefore, we can offer an attractive opportunity for the big win, while keeping the downside to a minimum, all through staking stablecoin. 

Is there really $100k up for grabs every week? 

Even though this seems to be too good to be true at first, there is. Each ticket in each game cycle is insured through our partnership with <a href="https://risqtrading.com/" rel="nofollow">RISQ</a>, which we elaborate on in this article. Therefore, we can sustainably offer a Jackpot of 100,000 weekly. With these outsized wins, it is intriguing to stake some liquidity to the protocol, as there is a recurring chance to win incredibly big!

Aside from the Jackpot, the yield will fuel attractive secondary and tertiary prizes as well. Should there be not enough winners during each game cycle, as much as 50% of the yield is randomly distributed to participating players. This ensures that there are always winners at Nezha. Remaining yield is routed back into the protocol, to let the prizes grow and scale quickly, making the winnings even more attractive!

Does my stake remain in the Nezha protocol each round? 

The decision if you want to continue playing, or unstake after each game is completely up to you! If liquidity is locked into the Nezha protocol, you will receive weekly game tickets to participate in the draw as long as you remain staked!

Still, you have the option to unstake your initial liquidity and any additional winnings after each game cycle. Once you are staked, the liquidity is locked by the smart contract for the duration of the game cycle. 

Yes, there will! Initially, the plan is to grow Nezha with the Nezha Draw, but coming games are planned. After becoming fully operational, we plan to introduce the Nezha Spins as the next game (more information in due time).

In the long term, it is our vision to become an ecosystem of gamified yield aggregation. Therefore, we plan to allow for community-led game development, allowing external developers to build their games with Nezha’s liquidity engine! 

Yes! The winnings are available to claim right after the game cycle. So, after the drawing event, you can unstake your winnings! 

With the launch of the Nezha Draw approaching, it is worth deep-diving into the dynamics of how one can win the most attractive Prizes of the Solana ecosystem with Nezha. With the test-net launch approaching, let's take a few minutes together to understand how to win big with Nezha!

At the Nezha Draw, there are three prize tiers to be won! To understand the prize dynamics of the game, one must first understand the underlying dynamics of the game. The Nezha Draw entails trying to match the sequence of six randomly generated numbers. Prizes are distributed depending on how the players match these numbers.

At each draw event, three tiers are available to players. The first tier prize, which we refer to as the jackpot, is distributed to players who match all six numbers of the draw event. <a href="https://nezha.fi/blog/exploring-the-nezha-draw-100000-jackpot-available-every-week">The jackpot</a> starts at a whopping $100,000 USDC with the option to grow in the future. How can we offer this sustainably you may ask yourself? Well, continue reading, as we will go into more detail about our insurance in the second half of this article.

First, let us continue with the second prize tier, awarded to players who match the first five out of the six numbers. This prize entails 50% of the yield left after the insurance is covered. The prize size varies, determined by the number of winners, the total value locked (TVL) of the Nezha protocol, the interest we generate on USDC, and the insurance payment.

Thirdly, the tertiary prizes are awarded to any player who matches the first four out of six numbers of the Nezha draw correctly. The payout follows the same dynamics as the second prize tier, with the remaining 50% distributed to tertiary winners. As the probability of winning is higher, we expect more winners compared to the second tier. As the same variables determine the prize, we expect the payouts for the third tier to be less than for the second tier.

How Is Nezha’s Jackpot Insured, And How Is It Different To Existing Platforms?

Insured jackpots are a common practice in traditional prediction markets. Due to the industry experience of our co-founder Phil, we built a fruitful partnership with the leading fixed-risk insurer <a href="https://risqtrading.com/" rel="nofollow">RISQ</a>. We are their first partnership to explore the great possibilities for prediction games through DeFi and Blockchain technology.

While some of the existing platforms with gamified payout mechanisms such as PoolTogether simply distribute the generated yield, we can offer an outsized jackpot right from the start. The agreement functions as follows: A portion of the yield generated from staking rewards covers the insurance. The payment depends on the prize size, the insurance risk premium, and the probability.

Basically, each ticket of the liquidity providers is insured independently. Thereby, the total cost of the insurance depends on the TVL and scales with the protocol. Factors such as the prize size can be adjusted, which allows for scaling the jackpot even further in the future. In return, we can offer a weekly 100,000$ up for grabs right in the first game cycle.

Thereby, the prizes offered by Nezha are attractive right from the start, even when there is not much liquidity locked in the protocol! The insurance covers each game cycle, giving you the chance to win $100,000 USDC or even more weekly. Isn’t that exciting!

How Does Insurance Enable Larger Prizes On Nezha?

The insurance agreement is critical for Nezha to attract liquidity, as it resolved the greatest problem we faced when building the protocol: The issue of scaling. Finding a way to make the protocol attractive in the early days proves difficult without such an agreement. If there is low liquidity in the protocol, prizes would be small and therefore unattractive for players to join in. That would be expensive for the protocol to overcome and potentially prolong the time until the protocol can sustainably operate, which would require more funding. Organically growing to $100,000 USDC weekly jackpots would be a long way without this agreement.

Secondly, and perhaps counterintuitively, the insurance agreement also helps scale the secondary and tertiary prizes. Even though some of the yield covers the insurance costs, we are confident that the attractiveness of the protocol through the prize offering will attract greater liquidity. Therefore, the secondary and tertiary prizes, as well as the randomized payouts, can grow much faster than without the agreement. Thus, the insurance agreement is a win-win situation for the whole Nezha community, fitting the theme of our positive-sum prediction market, which we are so proud of!

Everybody who stakes USDC into the protocol and receives their ticket has the opportunity to win the jackpot. As long as the numbers match, you win. We at Nezha want to make our application accessible for everyone, which is why we keep the entry barrier low. A single ticket comes as cheap as through staking $25 USDC, giving you a chance for the big win. Of course, the more you stake, the more tickets you receive, giving you a higher chance to win!

Additionally to the prizes, the protocol mechanisms ensure that at least 50% of the yield is paid out to the participating wallets if less than 50% is distributed through the game's outcome! That mechanism gives equal chances for whales and stakers who can only afford one ticket.

Stick It To The Man - Will You Beat The Insurers?

So, what is left to do except winning! Let's play together and stick it to the insurance. The great about Nezha is that everyone can play together as everyone benefits if more value is locked in the protocol! So, invite your friend, and we will see who first manages to grab a 100,000 from the insurance! Play together and make good use of this amazing agreement!

As we near the launch of our first game in the Nezha Ecosystem, the <a href="https://nezha.fi/blog/exploring-the-nezha-draw-100000-jackpot-available-every-week">Nezha Draw</a>, we thought it would be a great time to revisit our platform as a whole, and give a warm welcome to newcomers to the Nezha community with a deep-dive into our gamified yield-aggregator platform!

We’re now approaching the lead-up to our testnet launch, but before we discover what this momentous occasion will mean for Nezha, let’s start by exploring Nezha as an entire ecosystem, and look at some of the concepts that define our yield aggregation games and founding principles.

At its core, Nezha is a Solana-based yield aggregation platform that transforms traditional elements of decentralized finance (DeFi) through gamification. If that’s a little long-winded, let’s make it simple—Nezha makes yield farming fun.

We do this by introducing a powerful new model in gaming and staking, where Nezha uses the liquidity locked in our protocol by our users to power yield aggregation across the rapidly expanding Solana DeFi ecosystem; while also giving players the opportunity to strike it big with no need to forfeit their initial stake. 

The yield we generate drives and creates our platform's prizes, not losses from other players, and so a user’s initial stake remains untouched for the duration of the game. Once the games are over, even if you didn’t win, you get your original stake back—hence the term ‘positive-sum’. From here, you can either take your stake off the table once a game is over, or leave it staked for a chance to win our jackpot, which is at least $100,000 USDC every week. 

So, unlike traditional yield farming, where rewards are mostly predictable, steady, and let’s be frank, a little bit boring, Nezha injects excitement by giving players a chance to win a huge jackpot every single week. 

They say you have to be in it to win it. Well at Nezha, we say you have to stake it to make it. That’s why we’re passionate about transforming yield farming and rewriting the rulebook on staking. Do you want to stake more into our protocol to instantly boost your chances to win? Then easily deposit USDC into our protocol with low fees on Solana. Or, do you want to diversify and retain a portion of your funds to yield farm as well? Then simply allocate a more modest sum and still get entry to our draw week after week, while keeping the majority of your assets free.

Essentially, with our revolutionary games deployed through our seamless user interface, and powered by the Solana blockchain, Nezha is permanently redefining what it means to be a yield farmer!

We’ve explored the how, now let’s discover the why. Nezha was established to provide a novel spin on the average yield aggregation platform, merging DeFi yields with prediction markets games—and in the process offering participants a way to potentially win huge prizes rather than sit on their hands generating low yields. 

Born from a vision of positive-sum prediction market games, where players could participate without having to realize a total loss when a game didn’t go in their favor, Nezha set out to merge the transformative world of DeFi and yield farming with the age-old prediction market space.

As we discovered in a <a href="https://medium.com/@nezha.fi/nezha-where-prediction-markets-meet-yield-farming-1edd577e5cc9">previous article</a>, yield farming is the practice of staking or lending crypto assets in order to generate rewards. Throughout its fairly short history, yield farming has driven the DeFi market forward immeasurably, and in doing so has spun off a multitude of applications and protocols dedicated to providing, identifying, or aggregating yield for users.

Yield farming often requires users to stake their assets into a protocol for a predetermined amount of time. This introduces long periods of time where users are not interfacing with the yield generation platform, and during this time yield farmers are potentially losing passion for the protocols they stake with. 

But Nezha has a new vision. One where your experience is enhanced through gamification, keeping users staking over a longer period of time for more chances to win. With the risk of losing your initial stake removed, Nezha provides strong incentives to stake stablecoins into our protocol, forget about them, and maybe take home the jackpot.  

Unlike many newly launched projects in the blockchain space, Nezha’s team is already pretty large! This is because we’ve been busy building out our platform for over a year before the imminent arrival of our first testnet games. We work with two independent development companies to deliver our proprietary infrastructure, and we will be submitting our code to a comprehensive third-party audit before our live launch. Our team, who have decades of experience in the blockchain and gaming industries, are already public.  

We invite all our users to <a href="https://medium.com/@nezha.fi/meet-the-nezha-fi-team-50529d9370a5">read more about our team on our Medium</a>, and take the time to browse our previous AMAs with <a href="https://medium.com/@nezha.fi/nezha-meets-oig-ama-recap-9cd457b02553?source=user_profile---------1----------------------------">OIG</a> and <a href="https://medium.com/@nezha.fi/whale-coin-talk-ama-recap-7247a27e3f86?source=user_profile---------0----------------------------">WhaleCoinTalk </a>here to learn more about our founders.

The first game on the Nezha platform will be the Nezha Draw. Through the Nezha Draw, we invite players to test their luck at our fresh take on yield farming, where you can deposit as little as $25 USDC for the chance to win, week after week.  We take a detailed look at the Nezha Draw in <a href="https://nezha.fi/blog/exploring-the-nezha-draw-100000-jackpot-available-every-week">this article</a>, but let’s discover what our testnet roll out will look like.

The Nezha Draw will be made available for public testing for the first time through our testnet launch on the Solana blockchain, where we will invite players to try out our platform using faucet USDC to test our interfaces. You can stake test USDC into the Nezha Draw to learn how our games work, and also to discover how easy it is to stake and win with Nezha. We will shortly be revealing a sneak preview of our interfaces through a video release, so keep an eye out for that too! 

No real funds will be at stake or available to win during the testnet phase, but there will be plenty of chances for our first testnet users to be entered into unique giveaways ahead of our launch!

Despite a challenging crypto market, our team has continued building and shipping code, and we look forward to welcoming users to the Nezha platform! To find out more about our upcoming testnet launch, make sure you’re following our socials here:

Hello Nezharians! As we’ve already shared, at Nezha’s launch debut, we will have one of our first games deployed for you to start playing immediately! 

Called the ‘Nezha Draw’, we are inviting players to test their luck at our fresh take on yield farming, where you can deposit as little as $25 USDC for the chance to win, week after week. It’s also the very first game where our users can truly stake it to make it, and potentially land a huge six figure jackpot! 

Here, we will deep dive into how the Nezha Draw works, explore how we make a $100,000 USDC jackpot available every single week, and discover why the Nezha Draw is going to be the first game to feature on the Nezha platform.

How is Nezha Able to Make a $100,000 Jackpot Available Every Single Week? 

Every week on the Nezha Draw, there is at least $100,000 in USDC up for grabs. The six figure sum, a huge jackpot even by traditional standards, is available week, after week, after week. But how? How is Nezha able to offer such a huge jackpot right from our launch?

The answer to this is simple: we leverage our founder’s deep experience and links in the online gaming space to pair <a href="http://www.nezha.fi">Nezha</a> with specialist insurance technology providers; who deploy tailor-made payout protection for our prediction market games. By offering insured games, we become the first platform that can offer attractive jackpots right out of the box. To solve this huge barrier to growth for new platforms, we have developed the first on-chain insurance agreement with internationally acclaimed fixed risk insurer RSIQ, enabling Nezha to rapidly scale.

Our insurance fund is tailored to the Nezha Draw game, and stands ready to pay out in the event that someone wins the jackpot (read on for how to win!). This enables Nezha to offer users two key features from our inception that other platforms don’t: 

Technically, with Nezha, it’s possible that someone could win the $100k USDC jackpot with just a small sum staked in the Nezha Draw in the weeks immediately after our launch. But, like we say… you’ve got to stake it to make it first! So, let’s discover how the Nezha Draw works, and how you can participate.

The Nezha Draw functions similarly to a traditional sweepstakes game. At the beginning of each Nezha Draw game, six numbers are attributed to each player entry. Each participant is awarded entries proportional to the number of tokens staked into the protocol, which will be a stablecoin such as USDC. So, while the minimum staking requirements start at just $25 USDC, you can stake all the way up to any amount of your choice for increasing chances to win! 

Each Nezha Draw entry holds a series of numbers as well as a unique identifying ID per entry ticket. Every series of numbers generated for the Nezha Draw is passed through a True Randomness Generator using atmospheric noise to translate it into a sequence of truly random numbers. 

A separate sequence is then initiated to generate the winning number of the lottery. Using a Verifiable Random Function (VRF) infrastructure, Nezha generates a sequence of six unique numbers generated at random using Goldberg’s verifiable random function. In this function, a public and a secret key are generated which ultimately determines the winners of each Nezha Draw round.

For the Nezha Draw’s first launch, payouts from the prediction pool are structured into two tiers. In the event that any Nezha Draw participant holds four or more of the drawn numbers in the correct order, they hold a claim to part of the Prediction Pool - the prize pool from which Nezha Draw winnings are paid. All participants who hold four out of six drawn numbers in the correct order are awarded a claim of the total YieldPot.

Nezha Draw stakers who hold five out of six numbers matching the prediction market outcome in the correct order will be awarded a higher claim of the total Nezha Draw Yield Pot. And, for those lucky players who hold six out of six numbers matching the prediction market outcome in the correct order, they will be awarded the grand prize - our huge jackpot of over $100,000 USDC. This jackpot is available every single week, so while it’s likely the jackpot will remain unwon, it’s possible that someone could walk away with this huge sum any week that the Nezha Draw is live!

To celebrate when a lucky winner takes home the Nezha Draw jackpot, we’ll also be exploring the issuance of exclusively minted NFTs. Not only is this a great way to remember a win, but it also enables us to track jackpot winners. These dynamics provide sufficient variety to assure non-bias towards large market participants as well as continuous increases in value of the yield generating sum.

We’ll soon be releasing more information about the debut launch of our Nezha Draw game, make sure you follow our social media accounts below to find out more information and get ready to stake it to make it! 

In just a few weeks, Nezha will make its debut through an IDO, making the NEZ token available for purchase for the first time. The NEZ token, central to the functionality of the Nezha prediction market protocol, is a vital piece of our entire ecosystem. Without the NEZ token, the Nezha ecosystem can’t function, and we want to highlight its importance to our project ahead of our IDO debut!

NEZ tokenomics can be broadly divided into four key areas of utility, including 1) Access to Games; 2) Access to Premium Tiers; 3) Pool Origination and Maintenance; and 4) Governance.

We’re going to explore each of these features within this article, but do also remember to check out <a href="https://uploads-ssl.webflow.com/616ab590dcd432e48bcd2846/61a9d22f5fb3b2513763afe2_Whitepaper%20Nezha.pdf" rel="noreferrer noopener" target="_blank">our whitepaper</a> for a more detailed explanation of how the NEZ token functions within each of these Nezha protocol mechanisms.

Our prediction market games are, naturally, the biggest attraction to the Nezha ecosystem. In order to gain access to the prediction games, users will be required to stake stablecoin tokens, and perhaps other supported tokens in the future, into the NEZ protocol, which will remain locked until the end of each game cycle.

These locked assets, as we discovered in our last article, are pooled and routed to external yield producing protocols, which are then used to generate daily compounding yield that is distributed weekly into the Nezha pools. We’ll explore these below.

However, by staking the $NEZ token, these games can be enhanced. Those staking NEZ will receive access to premium tiers — which we discover in the next section — but there’s also going to be enhanced user experiences and perhaps even enhanced prizes for those staking $NEZ. Therefore, while not essential to access games, $NEZ is a critical component for those looking to up their game and take their prediction market playing up a notch!

Staking NEZ provides access to premium tiers to its holders. Premium tiers correspond to different levels of user experience, which is solely achievable through staking NEZ tokens.

Depending on the tier level, premium users are rewarded with extra prediction market entries (i.e. more ‘tickets’ to games), which are handed out proportional to their NEZ stake in the protocol.

Staking NEZ tokens also give access to premium game pools — unavailable to regular users — which may have higher jackpots and yields, or to early releases of new games being released in the Nezha ecosystem.

Finally, if a user is a premium member for a long enough time, their commitment to the Nezha community will be rewarded by receiving exclusively minted Nezha NFTs! More information will follow on this after our launch.

Pools are essential to the Nezha ecosystem, as they power our prediction market games, accumulate yields, and generate interest. In order to launch the pools required to operate a game, participants will be required to stake a certain amount of NEZ tokens.

After a pool has been created, NEZ tokens will be required on a rolling basis to maintain the pool’s balance. In addition to the main prediction pool, which generates winnings for Nezha’s YieldPot, there will be several other pools which either support our ecosystem or provide bonus incentives for the NEZ token. These include the Rollover Pool, the Operational Pool, the Reserve Pool, our Affiliate Flywheel Pool, the Nezha Foundation Pool, the Liquidity Provider Pool, and lastly, the Buyback and Burn Pool.

A detailed overview of each pool and it’s functionality is included in our whitepaper, but let’s briefly explore the role of the NEZ token within each specific pool:

Last but not least is the role of the NEZ token for governance within the Nezha protocol. NEZ token holders will be granted rights that allow participation in governance and administrative decisions, as well as voting on the operational development of the ecosystem.

Any token holder who has staked their NEZ within the Nezha platform can contribute a suggested improvement proposal to the wider Nezha ecosystem. All suggested improvements will be reviewed by the board of the Nezha DAO and suggested solutions will be proposed to all members for voting. This will evolve over time as Nezha grows.

Independent of DAO membership, NEZ holders will be able to vote on newly submitted games or game proposals by developers; allowing devs to validate game ideas before embarking on their development.

As you can see, NEZ is a token with deep utility and a multitude of clearly defined use cases within the Nezha ecosystem. We went to great lengths to define our tokenomic strategy ahead of the NEZ IDO, and we hope you’ll agree that we’ve laid the foundations for a strong and flourishing NEZ token economy.

To learn more about Nezha’s upcoming initial decentralized offering, follow us on social media below:

About Nezha: Nezha.fi is a revolution in prediction markets. Nezha is the liquidity engine for prediction markets where the participants do not wager their principal investment, but rather the yield generated on the pooled principal of all participants. Learn more at: <a href="https://www.nezha.fi/" rel="noreferrer noopener" target="_blank">https://www.nezha.fi/</a>

Nezha will soon make its debut in the crypto sphere through a multi-platform IDO, which will make our $NEZ token available to our community for the first time.

But before we welcome new users and token holders to our ecosystem, we want to build a solid foundation of knowledge and material to help you understand why Nezha was founded, our position in the market, and what makes our solutions unique.

Here, we’re going to examine Nezha’s cutting-edge positive sum smart yield routing, discover the benefits of our approach, and explore why we chose Solana as our first go-to blockchain protocol. But before we begin, let’s discover what prediction markets are.

To help us understand why Nezha is a revolutionary concept, we must first briefly examine prediction markets as a concept and an instrument of speculation.

For the uninitiated, prediction markets are created for the purpose of speculating on the outcome of an event — which could be as diverse as an election outcome, who’s next in line for an Oscar, or even when the next Apple product launch will be.

They are typically a zero-sum game, in that they are essentially a <a href="https://en.wikipedia.org/wiki/Prediction_market" rel="noreferrer noopener" target="_blank">binary option</a> with only two outcomes; win or lose. Therefore, a prediction market player typically stands to either lose their entire stake, or win — there are no additional ways to win or realise different outcomes.

The internet kickstarted the popularity of prediction markets, and blockchain technology added another layer of functionality, ease of access, and decentralization to the traditional prediction market model. But, to date, there has been little in the way of innovation or paradigm shifts within the prediction market ecosystem, and it’s still a zero-sum game. Until now.

How is our solution and technology unique?

At its core, Nezha’s revolutionary prediction markets are powered by smart yield routing across third-party DeFi protocols, which generate — and subsequently distribute — yields to our prediction market participants. This mechanism, paired with the high yields of DeFi, enables Nezha to optimize yields for its users beyond that of traditional prediction markets. This is all explained in detail in our whitepaper already, but what does this actually mean in simple terms?

When players use Nezha-based games and prediction markets, they stake crypto assets into NEZ protocol smart contracts, which essentially contribute to Nezha’s total value locked (TVL), much like other DeFi protocols. These tokens then remain locked until the end of each game’s staking cycle. It’s at this point that Nezha’s smart yield routing takes over, identifying opportunities and using these funds to leverage and take advantage of the highest and most stable APYs that DeFi has to offer.

The benefit of this approach is two-fold. For Nezha’s community and users, we can finally provide a positive-sum predictions market environment, powered by the unparalleled opportunity and yield generated by the decentralized finance market. But how do we ensure that instead of the all-or-nothing approach of traditional prediction markets, Nezha players can take advantage of a positive-sum environment?

As we have already examined above, when a user places their stake into a NEZ protocol smart contract, this liquidity is used to generate DeFi yield. But, if a Nezha user speculates on a prediction market outcome and loses, they don’t lose this initial stake. Instead, they only forfeit the yield their liquidity made while it was locked into the NEZ smart contract. Therefore, the only loss is essentially only a small lost opportunity cost, compared to traditional prediction markets where the loss of initial capital would be 100%. Conversely, if they win, they are distributed the yields which accumulated on their stake during the course of the game or prediction event.

On the other hand, for the Solana ecosystem and other layer one blockchains on which Nezha builds, Nezha functions as an unparalleled liquidity engine driven and powered by the very users of the blockchain upon which we are building. This approach not only provides better rewards for Nezha users compared to traditional prediction markets by leveraging the phenomenal returns of the DeFi market, but it also helps build a strong and sustainable on-chain economy for the world’s most promising layer one blockchains, and therein lies the transformational power of Nezha.

Nezha will host several liquidity pools to support this functionality, including the core prediction pool, a rollover pool, an affiliate flywheel pool for referral bonuses, and the Nezha Foundation pool — all of which will be explored in greater detail in a future article. But now, let’s look at our choice of layer one blockchain.

Firstly, we should start by reminding our community that Nezha will eventually be blockchain agnostic — that is, able to run cross-chain and interoperable with a number of layer one blockchains. As some of you may know from our whitepaper, we also plan to deploy for the Cardano blockchain once our platform has reached maturity on Solana.

Solana is an exciting and rapidly expanding ecosystem with a huge and dedicated community. With a focus on scalability and affordability, it has rapidly become one of the leading smart contract blockchains of choice for developers worldwide, who are seeking an alternative to Ethereum’s rampant network fees.

Solana already has a vibrant staking ecosystem, with some 75% of all SOL actively staked within the network, and supported by a growing range of crypto wallets and exchanges. This is quickly paving the way for advanced DeFi protocols — with multiple <a href="https://defiprime.com/solana" rel="noreferrer noopener" target="_blank">live DeFi protocols</a> running on Solana at the time of writing.

By extension, this is also good for Nezha. Not only can Solana provide lightning fast transaction finality and affordable transactions to Nezha’s users, but it is also a rapidly expanding ecosystem in need of liquidity providers, which is the perfect opportunity for our project to grow rapidly alongside the Solana protocol.

We look forward to welcoming new users to Nezha’s community in the coming weeks, and we will be looking for opportunities to connect with the wider Solana ecosystem. So, if you’re interested in being at the forefront of the prediction market revolution, make sure you follow us on social media here: