Introducing Nephrite

Today we are publishing the Nephrite Manifesto, the design document for a censorship-resistant, non-custodial, governance-less confidential stablecoin on Beam.

Bitcoin is a significant step in the evolution of money, but it is not money — it is too volatile, and its history is permanently public. Stablecoins solve volatility but not privacy. Privacy coins solve privacy but not volatility. Nephrite combines both in one coin.

We chose Liquity as our reference design because it is simple, immutable, redeemable, interest-free, and uses only decentralized collateral. We chose Beam because it is the only confidential PoW chain that supports smart contracts and doesn't require third-party frontends.

Read the full Manifesto. Follow updates on X and the Beam Forum.

— The Nephrite Team