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## Nerd DAO investment Briefing

### What is NERD DAO?

Nerd DAO is a post-work collective exploring the InterChain. We are designing blockchain solutions and participating in the latest developments in the industry. Our goal is to provide people with opportunities to invest in the latest innovations and technologies while also providing a platform for collaboration and education.



1. What is the InterChain and why is it important? 

The InterChain is the network of blockchains that work together to create a more efficient and secure global network. By using multiple blockchains, the InterChain can provide higher speeds, improved security, and reduced costs. This makes it an ideal platform for businesses and organizations who want to take advantage of the benefits of blockchain technology but don't need to do so for the next billion users. 

2. How does Nerd DAO work and what are their goals? 

Nerd DAO is a network of highly skilled individuals who collaborate by sharing the latest developments both within the crypto industry and around other domains in order to get a sense of where the space is heading to. In that proccess we have acquired and deployed a portfolio of projects which we use to implement the newest technologies and gain market knowledge that we can then replicate for our clients.

3. What are some of the latest developments in the blockchain industry that you're excited about ? 

Some of the latest developments in the blockchain industry that we're excited about include: 

- The increasing popularity of social decentralized applications (dApps) 

- The rise of novel financcial primitives

- The development of new implementations of incentive structures 

4. Why should people invest in Nerd DAO ? 

There are several reasons why people should invest in Nerd DAO: 

- We are actively involved in developing new blockchain solutions and participating in the latest industry developments 

- We have a strong focus on education and collaboration, providing people with access to learning opportunities and a forum for networking with other industry professionals 

- We believe that blockchain technology has the potential to revolutionize many industries, and we want to help make that happen 



## The Nerd Portfolio

> DeFi

strudelfinance.io
https://orkan.finance
https://y.at/🏦💰💵
https://allyu.xyz

> Gaming

spherius.io

> Communication

[Nerd Finance ](https://y.at/🤓✉%EF%B8%8F🤓)
+EV podcast

>NFTs

regenz.io
ai-universe.io

> Development

Fullstack development team

## Strudel DAO case study

Nerd DAO submitted a proposal on the strudel governance forum feb 2021 to take over management of strudelfinance.io after the core developers announced their departure. Since then we have been developing the strudel ecosystem to achieve its original vision of creating a decentralized BTC bridge that provided a non custodial for the wrapper issue.



### Problem Statement
Bitcoin is poorly incorporated into web3. The existing landscape relies mainly on wBTC, a trusted bridge operated primarily by funds such as 3AC, which have the exclusive right to mint and burn wBTC, therefore cornering the benefit of the arbitrage between on-chain BTC and legacy markets.

Vitalik has stated that trusted BTC bridges pose a systemic risk to the DeFi ecosystem. I would go even further and say that DeFi cannot grow until its intimately integrated with BTC and we capture a significant % of the BTC network on-chain. To achieve this goal, we must find a robust solution to bridge many BTC into the Web3 economy.

### The On-Chain Bitcoin Landscape


#### Key Takeaways

Less than 1.5% of the BTC supply is currently bridged on-chain.
On-chain, BTC balances are very stable compared to price volatility.
Trusted bridges (wBTC+hBTC) represent over 90% of all the BTC bridged on-chain.
Decentralized alternatives have not found strong PmF: RenBTC only has 4,000 BTC bridged. Hardly 2% of the total on-chain BTC

#### The Strudel Bridge
By eliminating the need for custodial control of assets that come with typical wrappers, the Strudel protocol trades off counter-party risk for market risk while using market dynamics, crypto-economic incentives, and cross-chain capabilities to maintain a pegged, scalable, and capital-efficient ecosystem. This one-of-a-kind economic approach offers average users and big money investors numerous options for monetary growth and grants more diversity and security to DeFi.

#### Strudel Bridge Architecture
When BTC is requested to be transferred using the Strudel dApp, a transaction output with the transfer amount and the receiving Ethereum wallet address is created. This output is handed to the user’s Bitcoin wallet through the QR code.

#### Strudel Bitcoin
Token Address: 0xe1406825186d63980fd6e2ec61888f7b91c4bae4

Current vBTC Supply: 23.27238764

Token Distribution:

Hodlers: 461

Total Liquidity: ~150,000 USD combined

Market Cap: 337,000 USD

Once BTC crosses the bridge using the Strudel Protocol its issued as Strudel Bitcoin (vBTC) on the Ethereum network. vBTC is fully erc20 compliant with 18 decimals and flash loan capabilities.

https://etherscan.io/token/0xe1406825186d63980fd6e2ec61888f7b91c4bae4
https://ftmscan.com/token/0x9049198f6b21acf1e050cfcf36a6879a07b0bbe4

## The $TRDL token

PRICE: $0.01 @ 0.000010 Eth (-1.24%)

FULLY DILUTED MARKET CAP : $87,982.41

Total Supply: 6,807,802.663084553940008589 $TRDL

Holders: 1,320 (0.00%)

Transfers: 46,890

At its peak the TRDL token was trading 30MM USD valuation with a token price of 4.5 $USD currently at 0.013c it presents an opportunity to return to its peak valuation with the appropiate financing.





### Historic Performance
![](https://i.imgur.com/tvuOP0D.png)


* vBTC has outperformed both ETH (+146%) and BTC (+175.1%) YTD
* The Strudel Protocol controls > 50% of vBTC, which are acquired through Orkan.Finance bond issuance and MitiCushqui stablecoin issuance.

### Liquidity landscape
Strudel utilizes a mandate-based approach to guide the development of the protocol

Mandate #1 - Achieve true decentralization of BTC on DeFi 

Mandate #2 - Design incentive structures that issue and manage reserve-backed currencies

By utilizing vBTC as a reserve asset, we reduce the floating supply and therefore provide price stability when interacting with demand driven by incentives to provide liquidity for vBTC

## NERD Designed Incentive Structures

The first stop for vBTC once bridged is the strudel. Finance farms. The protocol utilizes a sushi-style LP farm to issue 1 $TRDL per block split evenly among the following positions:

$ TRDL: ETH (Pool0) (320%APY)
vBTC:$TRDL (73.51%APY)
vBTC:ETH (14.96%APY)
vNFT::vBTC:PUNK:CC:BAYC (NA* APY)
*have to develop code to calculate the price on multi-asset pool to use in APY formula.

Reserve Backed Currencies

https://Orkan.finance

$vBTC's peg through The Orkan

When $vBTC gets under the peg, $ORK bonds are issued to increase the treasury supply and therefore remove $vBTC from circulation
When $vBTC gets above the peg, previously acquired $vBTC is exchanged by the protocol for other assets to diversify the treasury basket or to buy back and burn $ORK.


vBTC as a Store of Value

The Orkan treasury has managed to retain most of the value issued for the purchase of vBTC even though the market has gone through a significant downturn. ORK is trading at .25, whereas the backing per token is 0.7c.
![](https://i.imgur.com/MSQJ7Ys.png)


🏦💰💵MitiCushqui🏦💰💵

![](https://i.imgur.com/8D5rvUz.png)


We recently deployed MitiCushqui, a stablecoin issuing protocol. This protocol can be used to deploy redeemable stablecoins backed by a fixed ratio of a base stablecoin and any other asset.

The protocol oracles the BTC price and therefore creates an arbitrage where users can mint $Miti at a discount and redeem for USDC. The vault keeps vBTC out of circulation, therefore, reducing the supply and increasing the price until the arbitrage is closed and the peg is met.



#### The Future of Bitcoin is on-chain and the on-chain future is Bitcoin.
To make the web3 ecosystem more robust, we need to onboard a more significant percentage of BTC on-chain. A way to achieve reliable yields is to incentivize the flow of BTC into Web3. This capital can finance projects that generate value for the entire space. This makes BTC more useful, which is vital For it to gain mainstream adoption.

The future of BTC cannot depend on any one group of developers or caretakers. To realize its potential, we must find ways to bridge it into the Web3 ecosystem by utilizing as many techniques as possible and later building tools to create an interoperable interface



## Nerd DAO equity structure

NerdDAO ownership is established through the NERD token on the Ethereum mainnet chain. the DAO is willing to sell a 12% stake of the token supply with an internal valuation of 25MM USD. 

Nerd tokens represent a voting share of the NerdDAO which can be used to vote for or against protocol activities. At present NERD tokens are not liquid on chain but will be introduced into our larger liquidity ecosystem through incentive implementation.

Nerd DAO shares are entitled to a number of possible benefits such as buybacks, dividents, and equity in spinoff projects among other structures devised by shareholders. Nerd shareholders are also entitled to vote for introducing inflationary schemes which by default are set to 0.
