Metis recently completed its decentralized autonomous company (DAC) staking program and it was a huge success. More than 800 DACs were built on the Metis Andromeda network, staking more than 600,000 tokens altogether.
However, this initiative was designed to be short-lived. It was intended to serve as an introduction to Metis’ wider DAC architecture. A foundation on which tens of thousands of small, decentralized enterprises may start up and flourish. A Layer 2 network built within the DAC architecture will serve as a central node for the Web3 economy as a whole.
A massive explosion is taking place in the Metis DeFi ecosystem! Metis has collaborated on a wide range of interesting DeFi projects. The Andromeda network has also seen the debut of a number of DApps.
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As such, we believe it is time to introduce you to one of the future DeFi initiatives on Andromeda, Nemesis Finance, which we believe will be a huge success. In the Metis ecosystem, Nemesis Finance is the first node as a service (NaaS) protocol. By utilizing its financial protocol, you can earn some of the most delectable benefits: a recurring passive income. Additionally, you have the option of compounding or cashing out your Andromeda (METIS) profits.
Interesting, isn’t it? Well, there’s more if you can stick around…
Ok. Yes! You are sticking around.
So, keep reading to find out more about Nemesis Finance and some of its peculiar features!
What is Nemesis Finance
Nemesis Finance is a new decentralized protocol that is based on the Metis Andromeda ecosystem. It costs 10 $NEM tokens to buy a node and the daily payouts are set at 3% every day.
Nemesis features a revolutionary currency built for the new financial system
Unlike other currencies, the $NEM, Nemesis‘ native token, isn’t linked or paired with any fiat currency. $NEM provides a community-owned decentralized financial infrastructure that is totally open-source and transparent by executing simultaneous investments in other low and high-risk ventures.
Tokenomics
Here, we’ll talk about how $NEM will fit into the larger ecology of Metis Andromeda. This will include topics like the distribution of Nemesis tokens and how they may be used to encourage good behavior on the network.
Now let’s talk numbers.
Ready?
Nemesis token allocation breakdown
● Tethys (Exchange) Allocation: 15%
● Presale Allocation: 15%
● Reward distribution pool: 70%
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Fees
Nemesis finance is the first node protocol to include integrated transaction fees. This element will aid in the protocol’s long-term viability. Another advantage is that the 10% sell charge will prevent sniping and frontrunning bots from taking advantage of it. Here’s how the generated fees will be distributed:
● For a stable price floor, 5% of all $NEM received through node construction and compounding will be contributed to liquidity.
● A 15% cut of the money goes to the marketing and development funds that we’d use to build the new NEMESIS FINANCE protocol.
● 80 percent goes into the Reward Distribution pool to ensure the project’s long-term viability.
$NEM allocation
There are 770,000 $NEM in the distribution pool and a total supply of 1,000,000 $NEM. A total of 80,000 $NEM is available for pre-sale, and 150,000 $NEM is available for exchange.
$NEM price
The pre-sale and listing price of Nemesis is 1 $NEM, which is equal to 0.0066 Metis.
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What makes Nemesis Finance Unique?
Secure Treasury/Vaults
Security is a big worry for crypto investors. Cryptocurrency wallets and security protocols are two of the most frequently mentioned sources of security issues. This might pose a substantial risk to finances that are vulnerable to manipulation or theft by cybercriminals.
This is why NEM’s Treasury is monitored by a multi-signature wallet. When signing and sending a transaction, a multi-signature wallet necessitates the use of more than one private key. Multi-signature wallets are comparable to bank vaults in that they require several signatures . Because of this, multi-signature wallets are sometimes referred to as vaults.
You have control over the number of keys that can be used to access the vault. The minimum number of keys required to open it can also be configured.
All of this means that your transactions can only be executed if a specific number of keys approves the operation. This way, the investor has a better sense of security and peace of mind
Protocol Owned Liquidity
This is a novel approach that Olympus DAO came up with to make liquidity tokens available on decentralized apps. The protocol-owned liquidity model uses a bonding mechanism instead of depending on market incentives to deliver liquidity to liquidity pools.
This bonding mechanism entails the protocol selling their $NEM at a discount to buyers. In return, the purchasers will contribute another $NEM to the protocol’s treasury. Nemesis can then use the treasury to supply liquidity instantly via trading fees which can be invested to produce earnings.
Decentralized Governance
This is a way to keep track of and implement changes to the Nemesis network. Rules for instituting modifications will be encoded into the Nemesis protocol under this sort of governance. Nodes vote on whether or not to accept or reject modifications offered by developers through code updates.
Ultimately, NEM wants to give the community control over the Protocol’s management. Token holders in the NEM network have the power to propose, discuss, and ultimately implement modifications to the NEM network. Nemesis Finance‘s future is decided by the $NEM community through on-chain voting.
Encrypted Vault Storage
Nemesis was designed from the bottom up in Rust with security and privacy in mind. Rust is a popular cryptographic programming language. There are no buffer overflows or use-after-free issues with this memory management system. All vaults are therefore thoroughly audited before their release. A Bug Bounty Program is also in the works for the platform.
Final words
It is expected that Nemesis Finance would soon attract investors of all sorts as a result of all its exciting and upcoming developments. Nem’s unique features, such as protocol-owned liquidity, multi-signature wallets, safe memory management, bug bounty program, attractive rewards and incentives, and so on, seem to be just what the DeFi sector needs.
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[To share your insights with us, please write to sghosh@martechseries.com]
