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Saturday, January 22, 2022

Nemesisdao Finance Defi Coin Review: Decentralized Reserve Currency Protocol.

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About Nemesisdao Finance

Nemesisdao Finance is what’s known as a decentralized reserve currency protocol. Built on the Binance Smart chain, each NMS token is backed by a basket of assets (BUSD, LPs, etc.) in the Nemesis treasury, giving it an intrinsic value that it cannot fall below.

NemesisDAO aims to create the go-to reserve currency that the BSC needs while optimizing for short & long-term profit for holders of the NMS token. Our unique project introduces economic and game-theoretic dynamics into the market through staking and bonding to achieve this.

Frax Defi Finance Facts

Olympus Finance Facts
Defi Coin NameNemesisdao Finance
Short Name NMS
Circulating Supply19,215.00 NMS
SourceClick Here To View Source
Chat Option Click Here To Visit Chat
ExplorersClick Here To View Explorers
Official WebsiteClick Here To Visit

What is the aim of Nemesis DAO?

One of primary goals is for NMS to be a common trading pair on the BSC, which is backed by real assets. They want to build a policy-controlled currency system, in which the behavior of the NMS token is controlled at a high level by the DAO in a way that serves the majority. In the long term, they believe this system can be used to optimize for stability and consistency so that NMS can function as a global unit-of-account and medium-of-exchange currency.

How do participate in NemesisDAO?

Participating in Nemesis DAO is simple and rewarding. There are two main strategies for users of Nemesis DAO: staking and bonding. Stakers stake their NMS tokens in return for more NMS tokens, while bonders provide LP or BUSD tokens in exchange for discounted NMS tokens after a fixed vesting period, meaning your tokens will be dripped to you bit by bit.

They are a community-driven DAO and governance participants can get involved on forum and through discussions on Discord. Join there and you’ll soon see firsthand that the lifeblood of Nemesis DAO is loyal members and contributors. We are a community-driven protocol and are always looking for new community members to contribute.

Who runs Nemesis DAO?

No one. That’s the beauty of a DAO. They all govern Nemesis DAO together, and because community is so engaged and devoted, all decisions will be formed by community members on the forum and made by token holders through snapshot voting.

Stake NMS

Staking allows you to earn NMS passively via auto-compounding. By staking your NMS, you receive sNMS (staked NMS) in return at a 1:1 ratio. After that, your sNMS balance will increase automatically on every epoch (8 hours) based on the current APY. On Nemesis DAO rebase is every 8 hours, giving it a bigger compounding effect.

Is NMS a stable coin?

Rather, NMS aspires to become an algorithmic reserve currency backed by other decentralized assets. Similar to the idea of the gold standard, NMS provides free floating value its users can always fall back on, simply because of the fractional treasury reserves NMS draws its intrinsic value from. In terms of a reserve currency, NMS is far better suited to the task than stablecoins pegged to USD.

Why do the need Nemesis DAO in the first place?

NemesisDAO aims to be the go-to reserve currency of the BSC. There’s a number of reasons why this is needed. Simply put, ‘stablecoins’ aren’t as stable as they’re made out to be. Let’s dive a little deeper.In recent times, dollar-pegged stablecoins have become an essential part of crypto due to their lack of volatility as compared to tokens such as Bitcoin and Ether.

Users are comfortable with transacting using stable coins knowing that they hold the same amount of purchasing power today vs. tomorrow. But this is not actually true.. The dollar is controlled by the US government and the Federal Reserve. This means a depreciation of the dollar also means a depreciation of these stablecoins, which is not ideal given they are supposed to be a ‘stable currency’.

And this is where Nemesis DAO comes in. Nemesis DAO aims to address the shortcomings of stablecoins by creating a free-floating reserve currency, NMS, that is backed by a basket of assets. By focusing on supply growth rather than price appreciation, NemesisDAO hopes that NMS can function as a currency that is able to hold its purchasing power regardless of market volatility.

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