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$NATION

$NATION serves as the entry point into the Nation3 ecosystem, unlocking access to:

  • $veNATION
  • NFT passports
  • the token-gated community on Discord
  • liquidity rewards and governance mining

$NATION is required in order to mint passport NFTs and become a citizen of Nation3. This ensures that citizens have long-term economic alignment. $NATION therefore acts as a dynamic pricing mechanism for citizenship.

It also allows the DAO to finance itself, as the DAO holds the majority of the initial supply.

Information

  • Initial supply: 42069 $NATION
  • Contract address: 0x333a4823466879eef910a04d473505da62142069
  • Network: Ethereum mainnet
  • Decimals: 18
  • Mintable: Yes, by the DAO
  • Initial distribution:
    • 80%: Community (via DAO treasury and tweetdrop)
    • 20%: Founding members and contributors

Audits

An audit of the $NATION token, conducted by GoldmanDAO, can be found here.

The token is a version of Solmate’s code, that has been audited before by Fixed Point and used by protocols like Olympus in their token $OHM. The link to it can be found here

How to get $NATION

You can buy $NATION from here.

You can provide liquidity to the NATION/ETH pool here.

$veNATION​

$veNATION holders are those that bring more capital than time to the DAO. They take $NATION out of circulation due to their long-term commitment, creating a sink that might serve for $NATION to accrue value, and therefore capitalizing the Nation3 DAO.

In turn, thanks to that, members who commit their time can advance the mission of the DAO by making proposals, conducting research, and carrying out initiatives.

$veNATION token is non-transferrable and can only be accessed by staking $NATION for a period from 1 week up to 4 years.

The $veNATION balance is calculated based on the following model:

  • 1 $NATION locked for 4 years = 1.00 $veNATION
  • 1 $NATION locked for 3 years = 0.75 $veNATION
  • 1 $NATION locked for 2 years = 0.50 $veNATION
  • 1 $NATION locked for 1 years = 0.25 $veNATION

You can can use this calculator to model your desired amount and time lock.

The amount of $veNATION for each $NATION staked correlates with the duration of the lock and it decreases as the time passes.

For example:

Joe staked 10 $NATION for 4 years and received 10 $veNATION.

3 years later, when there is only 1 year of the lock remaining, Joe's $veNATION balance will drop to 2.5. At the end of the lock his $NATION balance, however, will remain the original 10.

It's important to keep this in mind when getting the NFT passport, since over time your $veNATION balance may drop below the required amount. You can always lock more $NATION to maintain the correct amount.

Holders’ rights:

  • $veNATION holders are entitled to claim an NFT passport, should you want to become a Nation3 citizen. There will be a requirement of holding a minimum of 2 $veNATION to claim a Genesis NFT passport.
  • Because longer-term commitment magnifies $veNATION holdings, $veNATION breaks the barrier to participation for those with minimal funds available: staking for 4 years will take you less $NATION to achieve the same $veNATION balance as someone staking much more $NATION for 1 month.

Holders’ responsibilities:

  • Governance responsibility is limited to ratifying the proposals made by Nation3 citizens — which is key for the project, yet requires minimal time commitment.

Holders’ financial incentives:

  • Holders might get boosted liquidity rewards when participating in active pools (eg $NATION / ETH Balancer pool), should the community approve such proposal. The proposal for this is currently being discussed on the Forum.

Lock your $NATION to receive $veNATION following the steps here.

Information