Nimbora: Yield Farming Protocol on Starknet

1. What is Nimbora? A Comprehensive Guide to the Leading Yield Farming Protocol on Starknet

 

Nimbora is a next-generation Yield Farming protocol built on the Starknet network. Its mission is to maximize user returns by focusing on two core products: Borrow and Earn, leveraging omni-chain DeFi strategies to generate yield across multiple protocols and chains.

 

2. Key Highlights of Nimbora

 

Nimbora has quickly become one of the standout projects in the Starknet ecosystem, with its Total Value Locked (TVL) skyrocketing from $1 million to $14 million between June and August 2024.

 

Notable Features:

 

 - Gasless Transactions: Users can interact with the platform without paying gas fees, providing a seamless and cost-effective DeFi experience.

 

 - User-Friendly Interface: The platform’s intuitive UI and streamlined design cater to both beginners and advanced users.

 

 - High-Yield Strategies: Nimbora integrates with multiple DeFi protocols such as Pendle, Spark, and Angle, offering users APRs of up to 30% on assets like DAI, ETH, and USDC.

 

 - Backed by Starknet Foundation: In July 2024, Nimbora received a grant in STRK tokens as part of DeFi Spring 2.0, solidifying its place in the ecosystem

 

3. Nimbora's Core Products

 

3.1 Borrow – Collateralized Lending with ETH

 

Nimbora's Borrow product is built in collaboration with Liquity, allowing users to deposit ETH to borrow LUSD(Liquity’s stablecoin).

 

Note: Nimbora requires a high LTV (Loan-to-Value) ratio ranging from 500% to 700%. For example, borrowing 100 LUSD would require at least $697 in ETH as collateral.

 

- Users can repay the loan to reclaim their ETH.

 

- Repayment process: Takes approximately 24 hours to complete.

 

3.2 Earn – Deposit Assets to Earn Rewards

 

 - The Earn feature provides access to multiple vaults where users can deposit crypto assets to receive:

 

  + LP Tokens

 

   + APR (paid in STRK) – distributed bi-weekly

 

  + Points – used for airdrop eligibility and exclusive platform perks

 

- Withdrawal Options:

 

  + Instant: Immediate but incurs a slippage fee

 

  + Normal: No fees, but takes 12 to 48 hours

 

All vaults feature auto-compounding, automatically reinvesting rewards for optimal returns.

 

Reminder: Each vault has a deposit cap. If the limit is reached, users must wait for new vaults or select an available one.

 

4. How to Farm Airdrops with Nimbora Points

 

Nimbora runs an incentive program called Nimbora Points, serving two main goals:

 

 - Incentivize usage for future airdrop eligibility

 

- Utility-based perks and access to exclusive platform features

 

Ways to Earn Points:

 

- Earning – Borrowing LUSD

 

- Liquidity Points – Depositing assets in Earn

 

 - Referral Points – Inviting friends to the platform

 

 - Ranking Points – Climbing the leaderboard through active usage

 

Users can also earn additional points from integrated protocols like:

 

 - EigenLayer

 

 - Puffer Finance

 

 - ether.fi

 

5. Step-by-Step Guide:

 

Step 1: Visit Nimbora and connect your Starknet wallet (supports Argent and Braavos)

 

Step 2: Navigate to the Strategies tab and choose between:

 

 -  Borrow – Deposit ETH to borrow LUSD

 

 - Earn – Choose a vault and deposit your assets

 

Step 3: Track your rank and point progress under the Points section