Review on Nectar by Olugbenga Ajayi
I think the project will grow since it is community driven
The crypto project nectar was originally invented by ethfinex, a company based in London, Uk in 2017 but later evolved into what we now know as Deversifi in 2019, a decentralized exchange. Prior to thethis Nectar token was being used as utility token in Nectar ecosystem. Being an erc-20 token built on ethereum network, the token is useful in decentralized finance ecosystem.
With the invention of deversifi, all traders on the platform will now have a democratic governance right to determine what token will be listed and what features should be added to contribute to the overall growth of the exchange. Also the token will be used for governance and loyalty purpose for deveraifi. This is beside other advantages inherent in decentralized exchange.
The project nectar will be community driven, first because traders have a say in every matter concerning the exchange and secondly because 50% of the trading fees will be redirected into the purchase of the token.
I think the project is good since it allows the community of traders and not a few members of the team to drive it's growth which I believe will be for the best. I also believe that it is too early to complain about the little value of the token being a relatively new project.
Pros
- Nectar is listed on many exchanges
- It allow community participation for n governance which I really believe in
- The token is useful in decentralized finance being that it is a token built on ethereum network
Cons
- The value of the token is low
- The project is relatively new, hence one cannot say much about it
- White paper was not accessible
