Nectar Token NEC
DescriptionThe Nectar token is not intended to raise funds for Ethfinex and will not be sold directly. Instead, the token is designed to maintain liquidity and market efficiency through the incentivisation of platform loyalty. Users who choose to register for the Ethfinex Market Maker scheme, taking on the role of market maker on the Ethfinex platform, will automatically generate NEC’s and earn a stake in the future development, governance and success of the platform. As more tokens are earned, the ownership structure of Ethfinex will unconditionally become more decentralised, contributing to the vision of a truly community-owned exchange. Having a network of users that own the exchange will incentivise its owners to remain loyal users, benefiting all users through fostering liquidity and maintaining market efficiency. NEC will adhere to the ERC20 Token Standard to ensure cross-compatibility with alternate exchange protocols interfacing with Ethfinex. This allows other protocols and exchanges to reward users for the liquidity they contribute.