Review on Nectar by Yenkelys Barcenas
Nectar. An interesting supply and demand game on DeversiFi.
Nectar is the token of the DeversiFi platform, which offers the transition from an inflationary model to an aggressive deflationary proposal through the burning of tokens. Its developers explain that this model is designed to drive DEX adoption, reduce market capitalization, and increase the Nectar´s value. It could be referred to as a game of supply and demand, burning tokens and increasing demand for them: an interesting bet on the cryptocurrency market, reducing the market capitalization and increasing the scarcity / value of Nectar.
Nectar exists as a token on the Ethereum blockchain, developed as a deflationary utility and governance token serving the DeversiFi exchange, it is in a good position of the global cryptocurrency rating with a quite attractive price for users. It offers its holders / traders so much benefits, including discounts on trading fees and membership in DAOs, and more importantly, voting rights in necDAO: it will be possible to vote on events such as proposals sent, potential token listings, platform enhancements, and governance methods, holders can control the usefulness of the Nectar token itself, but can also control how necDAO's 17,000 ETH is allocated to drive DeversiFi volume, adoption, and other relevant DeversiFi or Nectar proposals.
The interesting thing about this project is its way of operating its tokens, the income from commercial commissions is used to buy back and burn Nectar tokens in an auction format, in which the purchased tokens are burned and permanently deleted, this process can result in a higher sale price than in the open market, a game in which the supply of the $ NEC is reduced and this may incur in the increase of its value at auction, an interesting and intelligent move.
Pros
- The Nec token is a utility and governance token of the Ethereun blockchain that allows interaction on multiple exchange platforms.
- Holders of $Nec receive many benefits, including discounted fees and the right to participate in the collective decision-making and direction of Nectar and DeversiFi.
- Good position in the global rating of cryptocurrencies and good price of the coin.
Cons
- They require greater momentum and promotion in the market.
- Small investors are not very considerate.
