NEST Protocol

NEST Protocol is a decentralized network of price prognoists developed based on the Ethereum network. NEST has defined and implemented a new way to generate on-chain prices on a blockchain. The market of game theory, through the way of the miners two-way quotation will chain under market price synchronization, produced by the chain and combining the NEST offer mining mechanism, incentive for miners, make it become a logical loop of distributed quotation system, perfect the chain price under synchronous generated in the chain, form the NEST price predicted machine.

In the Nest design, the user can directly participate in the quoted price of the specified trading pair as a miner and receive the corresponding Nest token reward. At the same time, during the verification period of the miner's quotation, if an arbitrager finds that the miner's quotation deviates from the market price, he can directly buy the corresponding asset with the quotation to complete the arbitrage, but at the same time, the arbitrager needs to quote a new price. If the miner's offer is not completed within the verification period, it will be used as a valid offer to form the final block price, which can be used as a price predictor by the DeFi contract of the third party. Now that Fortube and dForce are integrating Nest's price Predictor service, they could be the first to officially integrate the DeFi protocol with Nest's price Predictor.