NEP Token Design

Warning

The Neptune Mutual Cover Protocol is a high-risk project. Please understand that the price of NEP tokens can go to zero and you can lose all your investment. NEP tokens should not be considered as an investment instrument since we do not advise, suggest, or indicate NEP tokens to have any investment-worthy value and neither do we have any investment prospectus for the public investors to speculate on. As we are focusing on the completion of the MVP, we do not have a public token sale date or plans yet.

In the future, the NEP token will be redeployed to support cross-chain compatibility. The liquidity on the PancakeSwap DEX will also be removed and migrated to new token addresses on multiple chains.

Beware of imposters trying to scam by selling fake Neptune Mutual Tokens tokens to you. We never directly message you first. If someone sends you a message claiming that they are part of the Neptune Mutual team, they are lying and deceiving you.

Burning & Staking Mechanism

Staking

  • Governance: Voting rights.

  • Staking NEP tokens to provide liquidity and earning rewards

  • Staking NEP tokens to become coverage reporter

  • Staking NEP tokens to create a new coverage market

Burning System

  • Foreign assets farmed under NEP pool will be used to purchase NEPs which will then be burned.

  • Creating a new coverage pool requires you to burn 1000 NEP tokens. Coverage creators will earn a small portion of the coverage fees collected in DAI/USDC/BUSD or ETH/BNB/MATIC.

  • 4000 NEP tokens must be staked when creating a coverage pool. The higher your stake, the more visibility your coverage will get in the market.

  • Coverage pools are available in stablecoins. We deduct 6.5% of the coverage fee or coverage claim in the stablecoins. The acquired stablecoins will be used to purchase NEP tokens in a decentralized exchange and then immediately burned in a single transaction.

  • Providing liquidity to a coverage pool requires you to stake 250 NEP or higher.

NEP Token

Accounts

Type

Address

NEP Token Owner

0x0702e0D43e2B73f2C9425D8424077e4da55f0110

Reward Vault

0x34542f31F9E8f717Ea391b7be657B885fe665376