Review on Nectar by Inioluwa Okedeji

Name: Nectar
Item: Nectar
Rating: 4

October 26, 2020

NEC Token: Protecting The Nectar Project From Inflation Through Decentralized Governance And Technology

NECTAR (NEC)is an ERC 20 token for the DiversiFi (previously known as ethfinex) exchange which was launched in 2018.
NEC token acts basically as the pillar for DiversiFi exchange with its deflationary features securing the platform from inflation.
 Being a community based project, NEC token aims to grow and develop a large community of decentralized exchange users, connecting people together through decentralized governance and technology.
Holders of the NEC token are opportuned to play a part in its governance and also to stake claim to a share of the collected fees on the exchange. With added advantages of discount benefits available to holders of the NEC token.
Like most community based projects, it gives users the opportunity to contribute and be a part of the development and not only that but also in the governance of the project. This project allows holders of the NEC token to vote when it comes deciding what's best for the advancement and growth of the project.
The NEC token ERC 20 which is built on the the ethereum network is prone to the high gas fees on the ethereum network, this might probably scare off some people but the advantages and benefits that lies in being a part of this project far outweighs this exorbitant gas fees.
So everything about this project revolves around users holding the NEC token which serves as an identification of being a part of such a project and also eligible for the benefits it brings.
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Pros

NEC token is a deflationary token.
Holders of NEC tokens are opportuned to discount benefits and voting privileges that determines the fate of the project.
The project NECTAR is not only a decentralized project but a community driven one.
NEC tokens can be burnt in order to reduce the total and circulatory supply of the tokens thereby causing an increase in its value

Cons