Nephrite vs. Liquity
Nephrite uses the base Liquity design. If you are not familiar with Liquity, the official Liquity documentation is the best place to start.
Nevertheless, Nephrite is not just a copy of Liquity on Beam. The differences are summarized in the table below and elaborated in the following chapters.
Comparison table
| Topic | Nephrite | Liquity |
|---|---|---|
| Liquidations | ||
| Liquidator's reward | 10 NPH | 50 LUSD + 0.5% of debt in ETH |
| Liquidation order | From the weakest trove only | Arbitrary |
| Recovery mode | ||
| Stability pool withdrawals | Paused | Not paused |
| Frontends | ||
| Frontend entity | Each Beam desktop wallet is a frontend | Independent economically incentivized operators |
| Collateral | ||
| Collateral token | BEAM | ETH |
| Oracles | ||
| Main oracle | BeamX Network Oracle | Chainlink |
| Fallback oracle | Phase 1: Nephrite team. Phase 2: decentralized oracle network. | Tellor |
| Secondary token | ||
| Utility | BEAMX (BeamX DAO governance token) ¹ | LQTY (pure profit-sharing token) |
| Privacy | ||
| Stablecoin | Confidential | Pseudonymous |
| Secondary token | Confidential | Pseudonymous |
| Collateral | Confidential | Pseudonymous |
¹ BEAMX is not a secondary token of Nephrite by default — see Secondary token.
The next chapters explain each of these differences.