Nest

The protocol functions on Plume, an EVM-compatible blockchain purpose-built for RWA tokenization. Nest enables fund managers and asset issuers to create structured financial products on-chain, while individual users can gain permissionless access to these traditionally restricted investment opportunities without needing to undergo KYC processes. When users deposit stablecoins like pUSD, the protocol mints vault receipt tokens (nTOKENs) that represent their stake and accrue value as the underlying assets generate yield. These nTOKENs are designed to be composable within the broader Plume DeFi ecosystem, allowing them to be used in lending markets and decentralized exchanges.

Nest's architecture consists of several smart contract components, including a Core Vault for securing assets, a Vault Extension for managing deposits and redemptions, and a Manager contract for executing automated investment strategies. All assets within the vaults are held by regulated custodians such as Coinbase Prime and Anchorage Digital. To ensure the quality and security of the assets, Plume's partner, Cicada Partners, a credit advisory firm with experience in on-chain credit markets, conducts due diligence on all managers and assets. The protocol has also undergone security audits by firms like SlowMist and OtterSec.

The platform partners with regulated financial institutions like BlackRock, Securitize, and Apollo to source its asset offerings. For instance, through these partnerships, Nest provides access to tokenized versions of products like the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and private credit funds from WisdomTree and Hamilton Lane. This model bridges traditional finance (TradFi) with decentralized finance (DeFi) by making institutional assets accessible on-chain while adhering to compliance standards, including AML screening at the sequencer level.