Supply, distribution, and emissions of the NRV governance token.
Chain: Binance Smart Chain (BEP-20)
- NRV is a BEP-20 token capped at 100,000,000 NRV.
- Rewards are calculated as: (Emissions x Price x Reward weight of the pool) / Total Value Locked
- NRV rewards are distributed every block (3 seconds). The initial emissions schedule began with 50 tokens minted per block on 01/03/2021, and was reduced by 33% each week, until the third week. Starting on 22/03/2021, emissions have been reduced by 10% every week.
- Rewards are vested following the SushiSwap model (as of 09/03/2021), to align the long-term incentives between the protocol, its liquidity providers, and holders of the governance token. To this end, 1/3 of the NRV rewards are claimable immediately after emission, and the remaining 2/3 are emitted to a vesting token contract that will be unlocked in 6 months. The details of this unlock will be decided only after discussion with and input from the community.
- Also following the SushiSwap model, 10% of all emissions are reserved for the community treasury to fund future Nerve development and expansion. The treasury will be governed by the community once the NerveDAO is established.
- After the NerveDAO is established, the emission schedule, total supply and protocol utility of the NRV token can be modified via a decentralized governance vote.
- Initial liquidity was provided at $0.2, seeded by $500k (250k BUSD 1.25m NRV) and time-locked.