0xnodes, a cryptic new project with extremely technical/comp sci themed communication, is launching their initial yield farming protocol on June 1. All communications via Twitter appear to be coming from a computer, and written in code, e.g.:
0xnodes has done a tremendous job uniquely marketing the project and creating hype ahead of the launch. 0xnodes is attempting to be the first cross-chain yield aggregator (think yearn but across different blockchains - both Ethereum/EVM compatible and non-EVM compatible like Solana). Their infrastructure and strategies will attempt to capture the best yield and generate enable passive income for depositors across multiple blockchains. Details on how the protocol works can be found in the 0xnodes docs here. DOCS.
It’s unclear whether 0xnodes will be building their own bridges to access yield on other chains, or if they’ll be using existing infrastructure. Regardless, having multiple onramps from different blockchains and ecosystems is a differentiator. 0xnodes will start with Ethereum to get the ball rolling before expanding to other chains.
The BIOS token can be purchased now on Sushiswap, and will be critical for early yield farmers. BIOS token stakers earn a portion of all yield from non-BIOS asset stakers. BIOS will also be used for protocol governance and ‘feature unlocks,’ which seems interesting. Other protocols have required a minimum amount of the native token to generate the highest yield (e.g. Curve/CRV), which has had nice benefits. I imagine BIOS token lockers may have the ability to farm new pools first or receive a larger share of yield than non-BIOS depositors.
Details about the early yield farming can be found via this Medium post or Twitter:
A word of caution if you’re looking to buy $BIOS for yield farming. 0xnodes raised $4.2m from strategic/private investors ahead of the public sale and airdrop. The tokens vest quickly over the first 5-6 months and it’s possible there could be some sell pressure so it’s unlikely this token will moon off the bat. The team’s allocation is currently 0 and all tokens will be earned post-launch so they are incentivized to ship and grow the platform.
Currently, the token is trading for $7.30, according to CoinGecko. Anecdotally, I’ve heard VC’s usually look for a minimum of 17X before exiting so it’s likely to be an OK play now.