Choosing a Balancer LBP for $NERI distribution is a deliberate signal — no VC unlock overhang, no insider pre-sale, just a declining-weight curve that punishes snipers and rewards patience, consistent with Nerite being entirely self-funded with zero VC backing. The real alpha here isn't the token itself but what Nerite's collateral model unlocks: letting ARB and COMP holders borrow USND *without* surrendering delegation rights effectively turns governance tokens into productive capital, which could quietly siphon governance-active treasuries away from competing Arbitrum lending markets. Worth watching whether the ~36 previous Liquity forks that blew up on security actually drive sticky TVL toward Nerite as the only officially licensed Arbitrum deployment — that Liquity AG co-sign is a moat most forks would kill for.

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