Nereus Token

NRS is used to take part in the platform’s staking, rewards and governance mechanisms.

• Locking and veNRS minting: Users lock NRS for a chosen duration (from 1 up to 104 weeks) to receive veNRS. veNRS is calculated from the amount locked and the remaining lock duration.
• Adjusting positions: Users can add more NRS to an existing lock or extend the lock duration. In both cases, veNRS is recalculated based on the updated position and remaining time.
• Reward participation: Rewards are distributed proportionally to veNRS holdings within the reward accounting periods. The model links rewards to platform fee revenue, allocating a share of collected transaction fees to veNRS holders.
• Escrowed rewards and vesting: Staking rewards can be issued as esNRS, which is non-transferable. esNRS can be used for staking to gain veNRS or placed into vesting to convert into NRS over time.
• APR cap mechanics: The staking system includes an APR cap with rules for handling situations where calculated rewards would exceed the cap.
• Early vesting exit: The vesting process can include an early exit option that applies a penalty and uses a defined calculation to determine the amount received.
• Governance: veNRS is used for governance voting with a quadratic voting approach, where voting power is based on the square root of veNRS to reduce the influence of very large positions.