$NEMO
$NEMO is the native token of NemoSwap, therefore, holders of $NEMO tokens will have voting rights for governance activities as $NEMO holders.
Furthermore, holders of $NEMO will receive various benefits when staking their tokens:
Revenue Sharing: when $NEMO is staked will get back 30% of the total transaction fee and this amount will be paid in $SUI.
Gemini NEMO (gNEMO): Stake $NEMO will earn $gNEMO, $gNEMO can be used in 2 ways:
- Keep staking to earn 30% of total transaction fee same as $NEMO
- Lock $gNEMO to convert to $NEMO within 12 months. During this time $gNEMO will not be charged any additional bonus.
$DORY
$DORY is an asset used for swapping in NemoSwap. It can be minted by utilizing any asset, including tokens and Firmagnet Oceans, and can be burned to repurchase any asset within the NemoSwap ecosystem.
The price for minting and redeeming is calculated based on (total asset value) / ($DORY supply).
At NemoSwap, $DORY owners will earn $gNEMO and 70% of the platform’s transaction fees, which will be paid in $SUI.
Minting and Redeeming
Minting $DORY
$DORY serves as the bridge for all tokens in the pools of NemoSwap, which may include $SUI, $WETH, USDC, USDT, $CETUS, $SUIA, and more.
Fees for buying $DORY will vary based on which assets the index has less or more of, the Buy $DORY page will show which assets have the lowest fee.
After purchasing $DORY, tokens will be automatically staked, and you will start receiving $gNEMO and $SUI rewards.
$DORY can be minted by providing liquidity to the pools or, if you are a Firmagnet Oceans owner, you can stake it to earn $DORY.
Price of $DORY
It is possible that there may be a spread on some tokens, minting $DORY will be based on the lower value of the token and redeeming $DORY will be based on the higher value of the token.
Risk
A non-exhaustive list of some risks:
- Smart contract risks.
- Counterparty risks: The $DORY pool is the counterparty to traders, if traders make a profit that comes from the value of the $DORY pool.
- Token risks: Bridged tokens may depend on the security of the bridge, pegged tokens have risks of depegging.
Resolving liquidity issues
By attracting more OAs for farming, if the number of OAs coming for farming increases over time and they continue to farm there regularly, it demonstrates that the owner of that FO is a reputable individual in the ocean and that area has a continuous ocean current.
From there, the amount of Framing Booster index will increase and the liquidity providers will be incentivized to provide liquidity to these FO. They have a good safety index and have a high rate of return.
FO with a community are an advantage as they can establish guilds to collectively exploit their own maritime territories.
NEMOSWAP DAO
- The rarer the FO owned, the higher the voting power they will have.
- The rarer the OA owned, the higher the voting power they will have.
- Owners of $gNEMO will have the voting power to vote in the DAO corresponding to the value of $gNEMO compared to the OA and FO at that moment
Oceanic Exchange
Oceanic Exchange is a marketplace created by Nemo, where everyone can exchange without being controlled by any individual or organization.
Since Nemo is the creator of Oceanic Exchange, he will receive a 3% transaction fee on every trade made on the platform. He will use this revenue to BURN $NEMO tokens.