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Nemesis DAO: A Decentralized Reserve Currency Protocol

Nemesis DAO is a decentralized reserve currency protocol that aims to be a common trading pair on the BSC.

What is Nemesis DAO?

Nemesis DAO is a decentralized reserve currency protocol with NMS as its native token. The token is backed by a basket of assets, including BUSD, LPs, etc., in the Nemesis Treasury. This means that the NMS token has an intrinsic value below which it cannot fall. 

“One of our primary goals is for NMS to be a common trading pair on the BSC, which is backed by real assets. We 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,” says the official whitepaper.

Furthermore, Nemesis DAO also passed the Certik audit, and private KYC has also been completed. The DAO has also implemented the Multi-Signature Consensus. Moreover, Nemesis DAO is already listed in Hotbit and BKEX and is currently in talks with other exchanges as well


Participation

Participating in the Nemesis DAO just requires two steps: staking and bonding.

Staking

Staking NMS tokens will allow investors to earn passively via auto-compounding. Furthermore, by staking NMS tokens, owners will earn sNMS tokens (stakes NMS) at a 1:1 ratio. The sNMS balance will continue to increase every epoch (8 hours) based on the current APY. 

Buying Bonds

Buying bonds allows users to mint NMS from the protocol at a discounted price by trading it with liquidity (LP tokens). 

The minting action creates bonds that take roughly 15 epochs to vest, and NMS tokens are vested linearly to the user over that period. Liquidity bonding helps the protocol in the process of accumulating and locking liquidity. On the other hand, reserve bonding allows the protocol to grow its treasury.


Nemesis PRO

Nemesis PRO aims to work on the following in 2022:

  • Preserve its high-reward nature
  • Solving the main problems of the DAOs with anti-inflationary & anti-bot measures
  • Maintain a strong price floor
  • Continuously developing with new co-products
  • Perpetually increasing protocol value

Nemesis PRO will have an epoch timer of 1 Hour, and the 5-Day ROI rate will fluctuate at around 5%. Nemesis PRO also involves Random Golden Epochs and Consecutive Golden Epochs, which will show up randomly. These Random Epochs will increase the daily ROI up to 8%.

A new set of bonds will be added, and traditional bonding will be evolved into hyperstaking (4,4). Moreover, hyperstaking’s 5-day ROI will be constantly adjusted according to the Nemesis Network’s new supply control policy.

The DAO will also implement the Automated Buyback and Burn system, but the main driver of NMS prices will be the Nemesis Fund.


House of Degens

The DAO has moved to a Decentralized Voting System wherein participants will use the decision tokens (sNMS and wsNMS) to cast their votes on the proposals made. 

“More than voting, however, this system will be useful simply for making decisions in an environment where resources and authority are shared. It will also encourage community participation,” said a Medium blog.

The voting power of a person is decided by a number of sNMS and wrapped sNMS tokens a person holds during the snapshot taken on the proposal offering. Each sNMS grants 1 voting power, and the wsNMS will grant voting power as per the Current Index. 


Roadmap

Here is the roadmap for 2022:

Source: Medium


The DAO has also planned a Community Growth and Outreach Steps via a 6-month plan. The plans can be seen in the image below:

Source: Medium blog


Conclusion

To conclude, Nemesis DAO has a lot of things planned up for 2022. The developers are working on Angel Nodes, which are “Heavenly Yield Processing Nodes,” and will be launched in January 2022 (Already launched as of moment). Together with Certik’s audit and an eventful roadmap, Nemesis DAO plans on gaining ground in 2022. The protocol is also coming up with an NFT marketplace, Nemesis NFT Zone, NFT Box Openings, NFT Staking, and Farming Protocols. 

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