Review on Nectar by Benaiah A. Akinlade
Nectar (NEC): A project with good prospects but still has a long way to go in the cryptospace
Nectar (NEC) is an ERC20 native token of the DeversiFi (formerly Ethfinex) exchange where investors are able to make claims of the shares of fees that are charged on the exchange. This Token was launched in 2018 in order to give incentives on liquidities on the markets that were traded on the Ethfinex exchange (now DeversiFi). It is a deflationary token which serves the DeversiFi exchange. As a community project, DeversiFi's main aim is to support decentralisation through Technology and Governance, and also to make NEC the tool for incentives for investors.
Trading NEC on DeversiFi comes with several benefits such as:
1. Provision of Competitive Fees
2. Completion of transactions at very high speeds
3. Dependable security and control for your tokens
4. Withdrawal of toke is guaranteed
5. Ensuring that your privacy is protected
6. You enjoy very good aggregated liquidity from your crypto wallet.
Nectar Token price is currently valued at USD 0.152993 with a circulating supply of 160,000,000 coins and a maximum supply of more than 600,000,000 coins.
If you hold NEC token, you enjoy a wide variety of services such as:
1. Voting in necDAO,
2. Getting trading fee discounts on DeversiFi
You can hold your NEC on the following wallets:
1. Metamask,
2. Ledger wallet, and
3. Keystore wallet.
This token is found out to be not available for trading for investors who live in the United States of America.
Currently, the most active market where you can trade NEC is Balancer.
With the recently launched Nectar2.0 and the fascinating features clearly stated in its Whitepaper, I'm hopeful that NEC will gain the required grounds needed to become a big game player in the cryptospace most especially with the launching of 'Trustless', which is the first ever trustless exchange interface that makes use of the ERC blockchain. It has the ability to connect directly into a centralized exchange and thereby gives users the liberty to choose between trustless on chain settlements or high speed execution settlements.
Pros
- The token was developed to aid decentralization through DeversiFi exchange
- There is an encouraging incentive for holding the token
- Token holders are able to make decisions like voting on which tokens that can be listed on the platform
Cons
- NEC token is traded on few number of cryptocurrency exchanges
- NEC Token has a low trading price
- The token has not gained widespread popularity
- The token can be held on few cryptocurrency wallets
