400 Million ($20m) NEC Tokens Burnt

Today sees the burning of 400,000,000 Nectar Tokens (approx. $20m USD), as first outlined in the Nectar 2.0 whitepaper. Along with the official launch of weekly necBurn auctions. The one-off 400m burn event symbolises Nectar’s shift from inflationary to deflationary tokenomics, bringing increased value and utility to the Nectar ecosystem. Read on to learn more.


  • 400,000,000 Nectar (NEC) Tokens originally owned by the now closed Ethfinex exchange have been burnt (as part of the Nectar upgrade) in one of the industry’s largest and most aggressive burn events to date
  • This represents a seismic shift from inflationary to deflationary tokenomics which, coupled with Nectar Token’s utilities, will attract greater adoption and value for the ecosystem
  • After this one-off event, there will remain a total supply of approx. 600m nectar tokens, the amount of which will scontinue to decrease week-on-week as long as necBurn is running. Total supply = 600m (400m+ vested for 5 years), Circulating supply = 290m. View the full breakdown.
  • Holding NEC will also give DeversiFi traders up to 20% trading fee discounts when DeversiFi 2.0 launches in April, as well as voting power in the necDAO — a DAO designed to give Nectar holders control over the pledged 17,000 ETH.

* NEC tokenomics are highly experimental. DeversiFi reserves the right to change its policy around buying NEC using its trading fees, or any other benefit DeversiFi provides to NEC holders, at any time in the future.

The 400 Million Nectar Burn

As of 27/03/2020, one of the most aggressive token burns in the industry, amounting to 40% of the total Nectar supply (about $20m) was conducted. This large-scale reduction in supply gives NEC holders a higher stake in the ownership of the exchange, whilst radically changing its tokenomics to introduce increasing token scarcity coupled with meaningful utility in the form of trading fee discounts and membership in the Nectar DAO.

These benefits, and the resulting feedback loop outlined below, have been lined-up to coincide with the launch of DeversiFi 2.0 – A StarkWare-powdered, non-custodial exchange allowing serious traders to enjoy an advantage when tapping into popular, high-momentum DEFI pairs, profit from competitive liquidity, move at unrivalled speed and avoid the demonstrated pain of withdrawal uncertainty found on existing exchanges.

Remaining tokens owned by DeversiFi and longer-term investors will then be vested over 5 years as outlined here. With these changes, the overall circulating supply of NEC tokens will stand at approx. 290m, with no more ever being created, only removed from supply.

“As DeversiFi’s trading volumes grow, an increasing percentage of exchange fees will be used to buy Nectar tokens through the weekly ‘necBurn’ auctions which started in February. The ‘necBurn’ auctions will be the driver for a feedback loop, decreasing the supply of tokens, and drawing more users to try DeversiFi,” said Will Harborne, Co-Founder and CEO, DeversiFi.

What is necBurn?

Read the full necBurn announcement here. In short, every week DeversiFi uses up to 50% of trading fee revenue to buy back and burn Nectar through an open auction at https://nectar.community/burn.

What is Nectar?

NEC is the deflationary governance and utility token of the Nectar ecosystem. The function of the token is to help grow the world’s largest decentralised exchange member base. Today the token empowers NEC holders, as necDAO members, to participate in the collective decision making and direction of Nectar. Furthermore, every week, up to 50% of the revenues from DeversiFi trading fees will be used in an auction type NEC “buy and burn” event, thus reducing the supply over time. To find out more information about the Nectar token read the Whitepaper and visit our support pages.

What is DeversiFi?

DeversiFi aims to be the most complete non-custodial trading platform. The current DeversiFi 1.0 platform allows traders to trade directly from the security of their private wallets, whilst facing deep aggregated liquidity. Traders are always in control of their crypto assets as each trade is settled on-chain, removing exchange and counterparty risk.

Launching in April 2020 in conjunction with StarkWare ZK-Rollups, DeversiFi 2.0 will offer traders all the benefits of DeversiFi 1.0, but also allowing for 9000+ trades-per-second, completely private trading and low fees, all whilst ensuring they stay in control of their assets at all times.will be the first complete and compromise-free non-custodial trading platform for professional traders.


*The related 400,000,000 burnt Nectar tokens were owned and burnt by the now closed down Ethfinex exchange as part of the Nectar 2.0 upgrade detailed in the Nectar 2.0 whitepaper and related communications.*

We work around the clock on the development of DeversiFi as the home of decentralised token trading, offering the most innovative solutions putting our users in control of their trading experience without sacrificing on speed, liquidity, choice or trust.

Get involved with, play your role and join us together as we fan the flames of the financial evolution.

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