Nibbio - Borrow Request

Borrower Requests
1

Nibbio is a proprietary trading firm and one of the larger market makers in the crypto space. We have been working on developing our algos and risk management systems since mid-2017 and have gone through basic triangular arbitrages to market neutral strategies on futures and swap; and are starting exploring the DeFI space. As a start, we would like to borrow 1,500,000 TUSD for 30 days at a rate of 11.5%, and steadily increase this amount as we build Trust with the community.

Who we are

Nibbio was founded in 2017, from a simple observation: trading cryptocurrencies was just the same as trading any other thing, except that everything was still to be done in that space. With our background in developing the most effective, robust and low-latency systems for top tier banks, we knew we could have an edge. And we still do.

Screenshot 2021-01-15 at 10.41.54 AM
Screenshot 2021-01-15 at 10.41.54 AM882Ă—859 55.9 KB

Our achievements

• 2017: Nibbio started with market-neutral triangular arbitrage on multiple different exchanges – coding 140 API connectors in 10 months;
• 2019: Nibbio transitioned to run market neutral strategies on perpetual futures and swaps;
2020: Nibbio publicly invested in Bonfida (https://bonfida.com/about) to support Serum, along with other decentralized projects;
• 2020: Nibbio’s trading volume is above $100B;
• January 2021: Volume is the highest we’ve ever traded;
• In 2021: We plan to launch new products – with starting MM and arbitraging Spot across all major exchanges – which will drive our volume even higher.

• Nibbio’s risk management tools are very resilient and robust, and after 20 months of trading perps, we have never been at risk or liquidated from any venue (even on March 13th, 2020);
• Nibbio is currently working with all major crypto lenders;
• Nibbio is partnered with one of the biggest crypto firm which currently works with TrueFi.

Use of funds

We wish to use the funds to run our higher-yielding crypto trading strategies and we do have a solid amount of collateral to support the loan, our current debt-to-equity ratio being lower than 0.1

We are excited to build a relationship with the TrueFi community!
Questions?

5 Likes
2

Hi everyone. Please take a minute to cast a vote.

Nibbio
  • Yes - Approve request as is
  • Yes - But limit credit to 500,000
  • No - do not add the borrower to the platform at this time

0 voters

3

@KevinNibbio - thank you for the excellent borrower application, I believe this is one of the strongest applications we’ve received so far. Looking foward to seeing how the $TRU community votes.

1 Like
4

Hi @KevinNibbio
The address you had shared with our team has been whitelisted. Could you please share the name which you would like to use on our front end (e.g. Alameda Research Ltd, Grapefruit Trading etc. ).
Meanwhile you can create a loan application on TrueFi.

  1. Visit app.truefi.io
  2. Connect with your whitelisted wallet address on MetaMask and click on Borrow
  3. Click on “Apply for a new loan” and fill up the relevant details
  4. Execute the transaction on your wallet
  5. Please note that there would be two transactions (One for creating and the other one for submitting)

The 5th point in the list is not so greatly executed in the UI, but it works for now. Please let me know if you need any help in creating the loan application.