Introduction

Nephrite is a censorship-resistant, non-custodial, governance-less confidential stablecoin on the Beam blockchain. It is pegged to the US dollar and overcollateralized by BEAM.

These docs are derived from the Nephrite Manifesto. Read them in order if you're new — each chapter builds on the previous one.

At a glance

• Censorship-resistant — every network participant has equal rights to issue, transfer, and redeem NPH. No one can ban anyone from doing this.
• Non-custodial — a private key owner is the only person who controls the respective NPH balance and the BEAM that backs it.
• Governance-less — Nephrite's smart contracts are immutable. There is no DAO that can change them, and therefore no governance token to be captured.
• Confidential — NPH is a Beam Confidential Asset, indistinguishable from BEAM itself on chain.

The rest of these docs explain why each property is necessary, what trade-offs were made along the way, and how to use the dApp in practice.