Description
Nemesis protocol is building the next-generation liquidity framework that enables permissionless margin trading of any onchain tokens. Its core innovation, the Omni-Directional Market Maker (OMM), is a non-derivative design that builds leverage directly on top of real AMM LP tokens rather than a synthetic vAMM curve or off-chain orderbook, using a native EMA oracle for pricing and eliminating reliance on external price feeds. All trading, market making, and liquidations occur fully onchain in a decentralized, permissionless manner, with anyone able to participate as a liquidity provider.
The protocol serves two main user types: traders, who can long or short any onchain ERC20 token with up to 5x leverage as long as a liquidity pool exists, paying utilization-based interest and funding; and liquidity providers, who supply liquidity to OMM pools used for both swaps and leverage, earning swap fees, borrow fees from leveraged traders, and liquidation premiums in a single unified LP position. Risk is bounded through LTV caps, health-factor-based margining, and automated (including partial) liquidations executed by dedicated liquidation capital. Nemesis is currently live on testnet.