What Is Nirvana prANA (PRANA)?
Nirvana prANA is a project which has negative interest, over-collateralized stable coin loans with zero liquidation risk. They create a stable of own which is pegged to the basket of stables making up the treasury. The Nirvana protocol produces twin tokens with two distinct purposes, working in concert to build a sustainable, algorithmic store of wealth that supports a decentralized, super stable currency.
The Nirvana protocol operates out in the open, with robust documentation, SDKs, and open-source code. Every component of the algorithm will be fully available & explainable for the community, as will every asset in the reserve.
| Coin Basic | Information |
|---|---|
| Coin Name | Nirvana prANA |
| Short Name | XECO |
| Max Supply | 10,000,000,000 |
| Total Supply | 10,000,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Mission
Nirvana prANA is designed to prevent hyper-inflation. It is an antidote to investment assets that boom sharply in price and then swing suddenly down from the heights. The protocol and its liquidity are oriented towards supporting the price of ANA (see the chapter on price support). This priority will result in modest appreciation, and modest APYs for stakers. But the the value will be reserved to support the price of the token during market downturns.
How the protocol works
The Nirvana protocol produces the NIRV and ANA tokens on the Solana blockchain. ANA is the first metastable token with a rising floor – a store of wealth with permanent gains, limited downside, and unlimited growth. NIRV is powered by ANA’s reserves. It is a decentralized superstable coin with low risk through its diversified backing.
Reserve-backed floor
Every token of ANA is backed by a diversified basket of stable tokens stored in a protocol-owned reserve. The protocol exposes a method to buy back and burn ANA tokens in exchange for their current floor price. At any point, a holder may sell ANA back to the protocol for the floor price. This policy limits potential loss.
Protocol owned liquidity
Nirvana prANA protocol secures liquidity through acting as a rational agent participating in the open market. It offers to sell ANA tokens in competition with other exchanges. When buying from the protocol, instead of simply swapping ANA for another asset, the protocol mints new ANA and locks away the liquidity in a special-purpose AMM. This liquidity is permanently owned by the protocol, guaranteeing the floor price.
Rising floor
Permanent rising floor guarantees ANA will never sell below a certain price. The protocol invests its reserve surplus into raising the floor price. Extra funds are invested into rebalancing of the floor price of ANA. This process of raising the floor happens continuously with demand for the ANA token.
Staking rewards
The rewards for staking are in the form of prANA (pre-ANA). The prANA token entitles the holder to buy newly minted ANA token for the floor price. The profit is the difference of ANA token market price vs floor price. Nirvana’s reward system has a sustainable, infinite runway.
Why Nirvana now?
Nirvana prANA is designed to store value, and encourage it to appreciate sustainably. It accomplishes this through market driven incentives:
Low-risk investment.
ANA is a yield-bearing volatile token, and so comes with risk. But the risk is limited. A rising floor price sets a minimum price to the token. Any purchase of ANA comes with knowledge of how much can possibly be lost.
Ultra-low-risk store of value.
NIRV is a superstable token backed by a diversified reserve of stablecoins. It delegates its peg to these stablecoins, and is strengthened through this diversification. Given sufficient diversification, if a single stablecoin loses its peg, NIRV’s value remains held up by the rest of the portfolio.
Liquidity concentration.
NIRV & ANA de-fragment stablecoin liquidity into a single reserve and return that liquidity back to the ecosystem in the form of tokens with a diversified backing. Their diverse collateralization gives the tokens real value.
Risk speculation.
ANA is a speculative, risky token. It can be traded for gains & loss. This energy from trading is captured by the protocol to increase the amount of superstable NIRV. Demand for ANA translates into an increase in protocol-owned liquidity, which translates into a higher floor price, and ultimately more NIRV.
