How Nest works
Nest is Plume's flagship RWAfi permissionless protocol enables
anyone to earn institutional-grade yields from real-world assets.
Flow of Funds
Nest Protocol is the primary interface that allows Real World Assets to be tokenized to yield-bearing tokens. Users can deposit stablecoins to receive real world yield via Nest vault LP token, and use the LP token seamlessly across Plume's RWAfi ecosystem.
Step 1
Deposit stablecoins
Step 2
Vault invests into RWAs
Step 3
RWAs generate yield
Step 4
Withdraw stablecoins
Risk Management
Plume's institutional credit underwriting team, Cicada Partners, has over 35 years of experience in traditional and on-chain credit markets, successfully underwriting over $1B+ in loans. Cicada Partners is responsible for conducting due diligence on the managers, assets, and curation of products through Nest.
Experience credit underwriting team
Plume's institutional credit underwriting team, Cicada Partners, has over 35 years of experience in traditional and on-chain credit markets, successfully underwriting over $1B+ in loans. Cicada Partners is responsible for conducting due diligence on the managers, assets, and curation of products through Nest.
Organization
Cicada Partners
Website
Cicada Partners is a specialist credit and advisory firm focused on institutional stablecoin financing and the modernization of traditional lending. They provide end-to-end services for the origination, underwriting, and structuring of real-world asset offerings, combining deep credit expertise with next-generation tools like wallet infrastructure and AI-powered underwriting. Cicada empowers institutions to deploy capital into safer, smarter lending strategies using stablecoin rails.
- Co-Founder of Orthogonal Credit
- Director of Credit, abrdn
- Credit at Loomis Sayles and Standard Life Investments
- Corporate Banking IBCB, BNP Paribas, Deutsche Bank
- Certified Financial Risk Manager (FRM®)
- Masters, London School of Economics
Director of Credit
Christian Lantzsch
- Co-Founder of Orthogonal Credit
- Leveraged Finance at PNC
- Masters in Blockchain at Nicosia
- BS University of Southern California
Risk management methodology
Cicada's full risk management methodology can be studied below, including but not limited to the below scorecard parameters
Asset Quality
Liquidity
Diversification
Currency Risks
Counterparty Quality
Capital
Leverage
Security
Capital Structure
Stickiness of Capital
Quality of Business
Track Record
Burn Rate
Business Strategy
Complexity
Management
Quality of Data/Reporting
Skin in the Game
Transparency
Reputation
Proprietary scoring system 1-5 scale
HoldCo/SPV lending requires a minimum borrower score of 3.0 CCR
AAA = 5.0-4.2
BBB = 4.1-3.9
BB- = 3.8-3.3
Security
Each vault has detailed information containing financial disclosures and agency ratings. Issuers are required to present third-party financial audits to include their assets in Nest vaults.
Regulated Asset Custodians
Assets are held by regulated custodians, including Coinbase Prime, Alpaca Markets, Anchorage Digital and others.
World-Class AML
Best-in-class sequencer-level controls powered by TRM, Elliptic and Chainalysis to remove malicious actors at the root.
Smart Contract Audits
All Nest smart contracts are audited by leading crypto security firms.
