Anchored by an algorithm-owned reserve, the Nirvana platform guarantees a floor price for ANA that permanently ascends with demand, while NIRV provides zero-risk credit. Together the pair harmonizes risk with reward, and transforms digital assets into durable wealth.
App
At Nirvana’s core is a new kind of AMM which mints and burns tokens on demand as tokens are bought from and sold to the protocol. ANA tokens are purchased with stablecoins which then remain in the protocol’s reserve to support both the floor value and market price. We call it a Market Driven Mint.
Instead of arbitrary rewards emitted by fiat, the market continuously calibrates the yield generated by holding ANA. The reward is directly proportional to the risk – as ANA moves further above the floor price, lowering its collateralization ratio, the yield for holding ANA increases and vice versa.
The ANA token is volatile, but price cannot go below its floor price that is permanently guaranteed by the protocol’s native market reserves. At any entry point, ANA speculators know exactly how much they can lose. But with increased demand for ANA, the floor rises and locks in permanent gains.
Stablecoins are the bedrock of DeFi, but they are risky & brittle. Nirvana builds its value on top of stablecoins, but de-risks exposure through diversification. It concentrates a diverse array of stablecoins into a single reserve, spreading out dependence on any single asset, while absorbing the shock if a stablecoin loses its value.
ANA’s minimum value (floor price) grants access to zero-liquidation-risk, negative interest-rate loans. Using ANA as collateral, speculators can borrow NIRV loans equal to the floor value of their locked ANA balance with no liquidation risk. Since the Nirvana protocol provides this liquidity, there are no parties to pay-off, and no interest rate on holding the loan. In fact, NIRV borrowers continue to earn yield on their locked ANA, effectively giving this debt a negative interest rate and making it DeFi’s first “borrow-to-earn” protocol.
Every ANA token is backed by a floor price that is the minimum value ANA can ever reach. This floor price will rise over time as the treasury profits from asset sales. For each sale of ANA above the floor price, an amount equivalent to the floor price is reserved by the treasury to back this newly minted ANA, and the rest can be used to raise the floor price for every ANA token now in circulation.
prANA is an option to purchase ANA at the floor price. The holder of a prANA token can, at any time, exchange their token plus an amount equivalent to the current floor price for an ANA token. Since the market price of ANA will never trade below the floor price, there is an intrinsic value to prANA equivalent to the positive difference between the market price of ANA and the floor price.
ANA tokens can be acquired in three ways. 1. Tokens can be purchased directly from the protocol’s AMM. 2. trANA contracts can be purchased from the protocol, after which ANA is claimable according to the trANA contract vesting schedule. 3. Holders of prANA tokens can realize the option that their prANA token affords them: to purchase ANA at the floor price.
Nirvana is not a rebase token, though it does have similar mechanics to rebase projects, namely staking rewards. One key difference is Nirvana’s infinite runway for rewards. Since rewards for staking are paid in prANA, rather than the native ANA token, the high APY does not come at the expense of treasury reserves. Moreover, staking rewards are not employed to regulate the value of ANA, as they can be in a traditional rebase currency.
ANA is a currency, and the supply of ANA is not and never will be limited. ANA tokens have the feature of being burnable, meaning that the total supply of ANA can both increase and decrease. An ANA token is burned when it is sold back to the protocol – whether at the spot price, or floor price. This has no effect on the value of other ANA tokens in circulation.
We currently accept Phantom, Slope and Solflare wallets.
Using the roadmap of features and advancements outlined below, we are charting our path into the future of DeFi.
Balancing the Nirvana reserves through a swap-to-earn module.
Customized prANA reward rates for ANA stakers based on lock-up tenors.
Direct routing into the ANA market, as well as the stablecoins in the Nirvana reserves.
Incentivization program to earn prANA rewards for referring new users.
