At the heart of DeversiFi lies the Nectar token (NEC).

Originally designed to maintain liquidity and market efficiency through the incentivisation of platform loyalty, the Nectar Token has expanded to be more than a loyalty reward for platform users. With the new deflationary model for the token, holders are incentivised with governance and staking opportunities in the form of a necDAO as well as platform usage utility with trading fee discounts. 

NEC adheres to the ERC20 Token Standard to ensure cross-compatibility with alternate exchange protocols interfacing with DeversiFi. This allows other protocols and exchanges to join forces and reward users for the governance and direction provided by the necDAO. 

Token Functionality & Governance

The fundamental purpose of the Nectar token is to grow the world's largest community of decentralised exchange users.

The Nectar token encompasses 3 fundamental features:

  1. Unique trading fee discount structure which benefits all Nectar holders
  2. Deflationary supply via a weekly Buy and Burn model utilising up to 50% of exchange revenues from trading fees
  3. Governance decision making by an open and decentralised community via earned Reputation (REP), gained by NEC staking mechanisms.  

As NEC holders trade on the DeversiFi platform, they benefit from trading fee discounts that are dependant on the amount of NEC they hold on average over a 30-day period. Specifically, every 1 NEC entitles the holder to a 20% fee discount on 100 USD of 30-day trading volume. Consequently holding on average 1000 NEC over a 30-day period would yield a 20% fee discount on 100,000 USD of 30-day trading volume. 

More Info

To learn more about the Nectar token, please refer to the Nectar 2.0 Whitepaper and the Nectar community website, which outlines our complete vision for the token.