Honey Token Supply Distribution
Honey serves as the governance and utility token for the Nectar suite of products and ecosystem.
Nectar protocol charges a 10% fee on all net funding and fee rebates on a rolling two-week period. This revenue is distributed to Nectar stakers locked as veHoney.
Earning NEC
NEC is distributed to protocol users for performing a variety of actions. Some examples include:
Staking necUSD
Providing liquidity for the FRAX/necUSD pair
NEC Utility
NEC is used within the protocol as a governance token.
NEC can be locked in a ve-system
Lock weight is used to vote for the distribution of Nectar emissions to LPs
Lock weight can be used to vote on protocol actions
Fees earned by the protocol are distributed to locked stakers
Total Supply and Allocation
Nectar has a maximum total supply of 100 million. All tokens are minted immediately upon deployment.
The supply of NEC is allocated as follows:
60% (50,000,000 NEC) are allocated towards emissions. These emissions are distributed based on DAO governance votes to incentivize specific actions on-chain and enhance the Nectar protocol.
20% (20,000,000 NEC) are allocated to the Core Team and are unlocked over a 3 year period.
10% (10,000,000 NEC)will be used for creation of the initial Uniswap v3 LP
10% (10,000,000 NEC) for our initial early supporters who helped Nectar launch.
5% (5,000,000 NEC) will be held in the Nectar Treasury.
5% (9,000,000 NEC) will be reserved for partnerships and ecosystem growth.
Last updated