$NEC Tokenomics

$NEC (NECTAR)

$NEC is the contribution token of the OpenFi protocol and is an ERC-20 token on the Ethereum blockchain.

The total supply of $NEC is 100 million, with 500,000 initially allocated for liquidity and voting, and the remaining tokens to be produced through staking rewards.

When users utilized $NEC, it will be sent to the DAO contract. All remaining $NEC is used for minting protocol contribution values. The $NEC held in the DAO contract is used for subsequent protocol contribution rewards, creating a cycle.

In the OpenFi protocol, users who contribute more to the protocol receive more $NEC rewards, which are distributed per block. For example, if a user with a staking value of 1,000 USD is invited, the inviter will receive rewards based on the following formula:

10 * (1 - circulating supply of $NEC / total supply of $NEC)

If the current value of $NEC is 10 USDT, the inviter will earn 10% of the $NEC token value per month. Inviting a user with a staking value of 100 USD will earn the inviter 5% of the $NEC token value per month. It's important to note that these rewards are subject to change based on the circulating and total supply of $NEC and its market value.

$NEC serves as an incentive mechanism for users to contribute to the OpenFi protocol and helps to build a strong and active community.