FAQs

What is Neemo Finance?

Neemo Finance is a liquid staking protocol on Soneium. It supports native liquid dApp staking on Soneium, allowing you to deposit your ASTR and earn nsASTR in return. The deposited tokens are then used to participate in dApp staking on Astar. You can then use these liquid nsASTR tokens to participate in DeFi and earn compounded yield.

What is Soneium?

Soneium is an Ethereum Layer 2 Network being built by Sony Block Solutions Labs, part of Sony Group. It aims to connect blockchain with everyday products and services that users know of and use in web2. Through its vast presence across various fields such as entertainment, creativity, finance, and more - it opens up several opportunities for web3 to be leveraged and connected with real users.

How does liquid staking work on Soneium?

We’ve attempted to offer a highly simplified liquid staking experience on Soneium. You can easily deposit your ASTR on Soneium without bridging them to Astar Network. Neemo Finance then bridges these tokens to Astar Network, offering you the dApp staking rewards right in your wallet!

Can we mint nsASTR on Soneium?

Yes! You can easily mint nsASTR on Soneium without needing to bridge your assets. Once Soneium mainnet is live, you can utilize nsASTR in DeFi protocols building on Soneiym for boosted rewards!

What are the main benefits of staking with Neemo?

Fully Optimized Structure:

• Non Rebase Token: Seamlessly integrate with DeFi protocols building on Soneium, providing greater utility for your staked assets.

• No Restaking Required: Continue earning rewards without needing to restake.

• Native Staking/Unstaking: Easily stake and unstake directly on the platform.

Maximized Rewards:

• Optimized for dApp Staking: Achieve the highest possible returns through Neemo’s optimized staking mechanism.

• Extra Rewards from Loyalty Program NFT: Earn additional rewards by holding a Loyalty Program NFT

• Immediate Utilization on Soneium: Utilize nsASTR from Day 1 on Soneium, allowing you to earn rewards and engage with DeFi building on Soneium seamlessly.

Is my investment safe with Neemo?

We prioritize the security of your assets. Our smart contracts have been audited by the leading blockchain security auditor, Hacken. Additionally, all of our contracts also undergo extensive peeaudits. We have also implemented and integrated additional security measures to prevent malicious transactions beforehand.

What is nrASTR? When will it be live?

nrASTR represents the liquid restaked token on Soneium. It is minted by depositing nsASTR on AltLayer’s MACH AVS. This liquid token will be minted on Soneium when its mainnet goes live. And you’ll be able to use it in Soneium DeFi too.

When will nsASTR become tradable?

nsASTR will become tradable on Soneium whenever its mainnet goes live. The token will be supported across the major DeFi applications on Soneium. Stay updated on this by following us on Twitter.

When do I get my Loyalty Rewards?

Every Monday. If you’re an eligible staker, you get rewards every Monday. These rewards depend on multiple factors such as the number of users in your staking tier, the $ASTR price at the time (if the price is higher, the rewards are lower from the Astar Network), and the number of days you have been staking with Neemo Finance. For more details, connect your wallet on the Loyalty Program page.

How much do I need to stake to participate in Loyalty Program?

You need to stake at least 5K ASTR on the Neemo Finance app to be eligible. For more details on tiers, check out this blog.

Is the Loyalty Program different for Soneium, Ethereum, and Bitcoin?

Yes, for Astar Network the Loyalty Program is already live. You can check out more details about it here. Loyalty Programs for Ethereum and Bitcoin will be different. Details on all will be shared soon!

What are Curator Vaults?

Curator Vaults are automated DeFi strategies that allow depositors to earn boosted rewards from a combination of different DeFi strategies. These vaults are created in partnership with whitelisted protocols. Users can deposit their nsASTR, nsETH, and nsBTC (in future) to participate in a variety of DeFi strategies.

Who can create Curator Vaults?

Initially, these vaults are created in partnership with whitelisted protocols. In future, interested protocols and users will be able to create these vaults too.

What is Soneium Genesis?

Soneium Genesis is a campaign designed to incentivize early deposits on Soneium Mainnet. As part of the campaign, you can deposit ASTR/ETH and mint nsASTR/nrETH in return. Deposit either of these assets to leading Soneium DeFi protocols to earn boosted rewards and incentives. List of all partner protocols for Soneium Genesis can be found here.

How can I participate in Soneium Genesis?

1. Head to official Neemo Finance app.

2. Deposit ASTR/ETH on the app. Mint nsASTR/nrETH and add to wallet.

3. Decide which protocol you want to deposit to on Soneium Genesis page. Visit their official app.

4. Deposit the amount of choice.

5. Earn staking APR/restaking APR, 3x Neemo Points, 3x ether.fi Points, Soneium DeFi partner rewards and incentives.

Read more on how you can participate here.

Why should I participate in Soneium Genesis?

Soneium Genesis unifies yield-seeking users and capital-seeking Soneium DeFi protocols via early incentives, rewards, and boosted points. By depositing capital to Soneium DeFi protocols, you get exposure to Soneium DeFi, earn boosted yields/incentives/rewards. And all protocols receive capital and liquidity. Currently, you can deposit to 8 major Soneium DeFi protocols.

What protocols are participating in Soneium Genesis?

The following protocols are participating in Soneium Genesis:

• Bonsai NFT Club

• Kyo Finance

• QuickSwap

• Sonus

• SoneX

• Untitled Bank

• Synstation

• Velodrome

Read more about these partners and the rewards and incentives you can earn from there in the Partner Protocols Point Tracking page.

What rewards do I get when I participate in Soneium Genesis?

You get the following base rewards if you deposit nsASTR/nrETH:

• nsASTR: +20% APY (staking) + +50% APY (Loyalty Rewards) + 3x Neemo Points + partner protocol rewards and incentives

• nrETH: 4.2% APY (restaking, staking) + 3x Neemo Points + 3x ether.fi Points + partner protocol rewards and incentives

How long will Soneium Genesis campaign run?

The campaign begins with the launch of Soneium Mainnet launch. The end date will be updated soon. Check back here and on our X page for realtime updates.

What assets can I use to participate in Soneium Genesis?

You can participate using nsASTR or nrETH. You can mint nsASTR by depositing ASTR on Astar EVM or Soneium. You can mint nrETH by depositing ETH on Ethereum L1.

How can I mint nrETH?

You can mint nrETH by depositing your ETH on Ethereum Mainnet. Soon, you'll be able to deposit on Soneium Mainnet too. Or, you can even buy nrETH via a DEX. You can trade ETH or nsASTR to get nrETH on Soneium Mainnet. This saves you gas fees.

My ETH is on another L2. How can I buy nrETH on Soneium?

Bridge ETH from your L2 to Soneium using the official Soneium bridge. Once you have ETH on Soneium, you can simply trade it for nrETH via any of your favourite DEXes on Soneium.

How can I mint nsASTR?

You can mint nsASTR through 2 ways: deposit ASTR on Astar EVM. Or, deposit ASTR on Soneium Mainnet. When you do, you get nsASTR in return on Soneium Mainnet. You can then use it to participate in Soneium DeFi protocols.

What happens when I use my nsASTR? Do I still get Loyalty Rewards?

Yes, even if you use your nsASTR in Soneium DeFi, you continue to earn Loyalty Rewards. Remember it like this: if you have minted nsASTR and qualify a tier threshold, you will always earn Loyalty Rewards regardless of where you use nsASTR.