Nibiru Chain: The Rise of Emerging Public Chains and Technical Characteristics

Recently, a new public chain called Nibiru Chain has attracted market attention. This public chain, focused on solving security and speed issues in DeFi applications, has seen its community size grow more than three times in just one month, demonstrating strong development momentum. As an emerging public chain that has secured over $20 million in funding support, Nibiru Chain is expected to become an important player in the decentralized trading space.

Nibiru Chain plans to launch its mainnet this week. As a rapidly growing Layer 1 public chain, what technical features and competitive advantages does Nibiru Chain have? What security issues should developers pay attention to when building projects in its ecosystem? Let's dive into these questions.

Nibiru Chain Protocol Analysis

Nibiru Chain's core business focuses on the DeFi trading sector. Its main components include:

1. Nibi-Perps: An on-chain perpetual contract trading system that allows users to trade popular crypto assets with up to 10x leverage. $NIBI token holders enjoy governance rights and trading fee discounts.

2. Nibi-Swap: An automated market maker protocol that plans to provide two types of liquidity pools: a stablecoin exchange pool and a regular constant product pool.

3. $NUSD: An over-collateralized stablecoin of the Nibiru ecosystem. Initially supports minting with $USDC and $NIBI, and will expand to more types of collateral in the future.

4. Nibi-Oracles: Native oracle solution that achieves efficient and accurate integration of off-chain data through validator participation in oracle consensus voting.

In 2024, the development focus of Nibiru Chain includes expanding the ecosystem, integrating with multi-chain DeFi projects, listing on mainstream exchanges, achieving parallel optimistic execution, and full EVM compatibility.

Secure Development Practices

When developing applications on the Nibiru Chain, the development process and required languages are similar to other Cosmos ecosystem public chains. The following security guidelines can help enhance the contract security of the project:

Contract Development Security

1. Preparation for Attack Response: Build scalable smart contracts and develop comprehensive risk response plans.

2. Address Verification Standardization: Pay attention to the case sensitivity of the Cosmos SDK address; this should be considered when handling addresses in contracts.

3. Operations and Overflow Handling: Use CosmWasm's Uint256 and Uint512 types, employing non-overflowing mathematical functions such as full_mul().

4. Access Control: Strictly implement access control mechanisms to avoid unauthorized operations.

5. Avoid Infinite Loops: Handle the data packet transmission between contracts with caution to prevent getting stuck in an infinite loop that drains gas.

Project Security Practices

1. Smart Contract Audit: Conduct a comprehensive security audit before mainnet deployment to identify and eliminate potential risks.

2. Multi-signature Wallet Management: Consider using a multi-signature wallet to manage project funds and smart contracts. Nibiru Chain has adopted the Nomos multi-signature solution.

Conclusion

Nibiru Chain, as an emerging Layer 1 public chain, provides an innovative platform for DeFi, gaming, and the on-chain integration of physical assets. It aims to address accessibility, security, and performance issues of Web3 applications, offering comprehensive and high-quality services to developers and users. With the mainnet about to launch, Nibiru Chain is expected to play an important role in the decentralized finance sector, driving further application and development of blockchain technology.