Review on Nectar by francis fernandez
NECTAR: a deflationary digital asset that contributes to the growth of the global exchange network.
NECTAR is a digital asset known by its acronym NEC, which operates the Deversity platform to constitute a comprehensive ecosystem of utility and mass adoption for the growth of the market value of NEC and the deflation of the digital asset; allowing the increase of the world exchange network.
The cryptocurrency has a maximum total supply of 618,133,330 NEC,
NEC Token Features:
• It was released on the market in May 2018.
• It is an ERC-20 typology token because it operates under the Ethereum blockchain.
• It acts as a deflationary mechanism in the DeversiFi exchange.
• Provides benefits to its holders, such as: voting rights in NECDAO governance and discounts on trade operations.
• Due to the use of the Ethereum network it is compatible with the largest decentralized finance organizations.
• Interact and participate with the most popular exchange houses in the market to generate growth and liquidity.
• Uses the trade discount capitalization mechanism on the DeversiFi exchange.
• It uses the system of buying and then burning NEC to avoid inflation and the decrease in the price of the currency, through auctions.
• The NECDAO governance decides the utility of the token.
Functioning:
The NEC token is the engine that drives the DeversiFi exchange network towards decentralization and plays a leading role in the community of both networks in the influence it exerts on the decision-making of NECDAO (decentralized autonomous organization).
Acquisition of the NEC token:
The DeversiFi network uses the NEC token to get USDT and ETH and the Bitfinex platform uses the cryptocurrencies USD, BTC and ETH.
Pros
- NEC holders enjoy privileges in the NECDAO that allow them to decide on important network issues
- It is a digital asset compatible with the DeversiFi network to provide solutions to financial organizations
- The cryptocurrency is highly compatible with various exchanges and assets.
Cons
- The market value of the cryptocurrency is very low.
