1/ 🧵 A Detailed Thread on $NECC 🧵
Thanks to @cvxvxxgvd @AnonUser_404 and other $aurora ecosystem maxis … I’m becoming one myself.
I’ve decided that I am going to provide you with pure alpha and explain the plays I’ll be investing in 🤝
Enjoy! Only invest at your own risk ⚠️
Thanks to @cvxvxxgvd @AnonUser_404 and other $aurora ecosystem maxis … I’m becoming one myself.
I’ve decided that I am going to provide you with pure alpha and explain the plays I’ll be investing in 🤝
Enjoy! Only invest at your own risk ⚠️
2.1/ Introduction - wtf is #NECC ?
No, I’m not talking about @Tradermayne extraordinarily large body part, I mean the “yield-bearing, fully collateralised stablecoin protocol”.
Essentially, deposited collateral is lent out to long/short traders to allow for up to 50x leverage
No, I’m not talking about @Tradermayne extraordinarily large body part, I mean the “yield-bearing, fully collateralised stablecoin protocol”.
Essentially, deposited collateral is lent out to long/short traders to allow for up to 50x leverage
2.2/
The stablecoin is $NDOL and this is can be minted by depositing a whitelisted collateral. It is minted by a ratio of 1:1 to the collateral’s USD value.
NDOL retains its value against trading by seizing the traders’ collateral, upon volatility and price increase.
The stablecoin is $NDOL and this is can be minted by depositing a whitelisted collateral. It is minted by a ratio of 1:1 to the collateral’s USD value.
NDOL retains its value against trading by seizing the traders’ collateral, upon volatility and price increase.
3/ Inverse Longs and Shorts
Necc protocol allows you to compound profits through inverse perps. Inverse perps pays you in the token you’re longing/shorting.
For example, if you short 1 ETH (at $4,000) on 2x lev and it goes down by 5%, you earn 0.105 ETH ($400) profit.
Necc protocol allows you to compound profits through inverse perps. Inverse perps pays you in the token you’re longing/shorting.
For example, if you short 1 ETH (at $4,000) on 2x lev and it goes down by 5%, you earn 0.105 ETH ($400) profit.
4/ Staking
In return for supplying collateral tokens to the Necc protocol, $Necc yield tokens are distributed to NDOL and NECC stakers.
Staking $Necc tokens returns nNECC tokens which rebase per 1 hour epoch backed by NDOL minted from whitelisted collaterals and LP tokens.
In return for supplying collateral tokens to the Necc protocol, $Necc yield tokens are distributed to NDOL and NECC stakers.
Staking $Necc tokens returns nNECC tokens which rebase per 1 hour epoch backed by NDOL minted from whitelisted collaterals and LP tokens.
5/ Fees
These values were calculated to sustain NDOL peg and Necc protocol through a bear market, and to be competitive against cexes.
The fees are redistributed in the form of NECC tokens to: NECC stakers, over collateralise NDOL, Treasury, DAO.
These values were calculated to sustain NDOL peg and Necc protocol through a bear market, and to be competitive against cexes.
The fees are redistributed in the form of NECC tokens to: NECC stakers, over collateralise NDOL, Treasury, DAO.
6.1/ Tokenomics
By supplying collateral to the protocol to be borrowed for leverage positions, NECC is redistributed in return (staking)
NECC is vested over five days at a discount by selling NDOL to the protocol treasury.
By supplying collateral to the protocol to be borrowed for leverage positions, NECC is redistributed in return (staking)
NECC is vested over five days at a discount by selling NDOL to the protocol treasury.
6.2/
1% of bond purchases (vested NECC) is redistributed to $NDOL interest bearing stablecoin stakers.
20% of vested NECC is also distributed to the DAO.
1% of bond purchases (vested NECC) is redistributed to $NDOL interest bearing stablecoin stakers.
20% of vested NECC is also distributed to the DAO.
6.3/
Protocol fees minting and bonding means more collateral locked in, better redemption rates, and more runway to afford rebases.
More LP bonds and collaterals to be whitelisted as decided by Governance to grow the protocol and diversify the treasury.
Protocol fees minting and bonding means more collateral locked in, better redemption rates, and more runway to afford rebases.
More LP bonds and collaterals to be whitelisted as decided by Governance to grow the protocol and diversify the treasury.
6.4/
I’m struggling to find any info about market cap or circulating supply. However, @cvxvxxgvd mentioned that the MC is roughly $3 million, which would mean we’re insanely early.
I’m struggling to find any info about market cap or circulating supply. However, @cvxvxxgvd mentioned that the MC is roughly $3 million, which would mean we’re insanely early.
https://twitter.com/cvxvxxgvd/status/1475230792578215943
7/ Minters, Traders and Degens
***Most info included in the docs for this section is relevant so I wouldn’t like to cut parts out***
***Most info included in the docs for this section is relevant so I wouldn’t like to cut parts out***
8/ Roadmap
~ Token based backlogs and bounties paid out from the dev treasury
~ Snapshot governance
~ Add more volatile token collateral types
~ Crosschain deployments and incentives
~ Dune Analytics (volume and fees)
~ AMM LP farming & CRV stablecoin swap pool
~ Increase lev
~ Token based backlogs and bounties paid out from the dev treasury
~ Snapshot governance
~ Add more volatile token collateral types
~ Crosschain deployments and incentives
~ Dune Analytics (volume and fees)
~ AMM LP farming & CRV stablecoin swap pool
~ Increase lev
9/ Future Products
10/
So, that wraps up this thread about $NECC. If you have any questions, tweet me and I’ll try my best to answer. Also, join @___hounds discord.
Remember this is NFA but for transparency, I invested at 4500 NDOL (top)
Follow for the next $aurora ecosystem thread (💎,🍆)
So, that wraps up this thread about $NECC. If you have any questions, tweet me and I’ll try my best to answer. Also, join @___hounds discord.
Remember this is NFA but for transparency, I invested at 4500 NDOL (top)
Follow for the next $aurora ecosystem thread (💎,🍆)
you can see how shit my entry is but hopefully, in a few weeks, it’ll be a lot higher (don’t rug me guys 😳) @RemindMe_OfThis in 2 weeks
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