- What is NervDAO?
- How NervDAO Works
- NervDAO and the Nervos Economic Model
The Nervos Network recently announced the launch of NervDAO, a new platform that allows users to interact with the Nervos DAO through various wallets, such as JoyID Passkey and OKX Wallet. This move marks a significant expansion of Nervos Network’s DeFi offerings.
What is NervDAO?
NervDAO is an integral part of the CKB economic model within the Nervos Network. The platform allows users to lock their CKB tokens, which helps protect against dilution caused by the secondary issuance of tokens. In return for locking their CKB, users earn rewards similar to staking.
How NervDAO Works
Users can interact with NervDAO through various supported wallets, such as JoyID Passkey and OKX Wallet. The process is simple:
1. Connect a supported wallet to the NervDAO platform. 2. Lock your CKB tokens in NervDAO to protect against secondary issuance. 3. Earn rewards, similar to staking, incentivizing long-term token holding and network security.
NervDAO and the Nervos Economic Model
NervDAO plays a crucial role in the overall Nervos economic model, which aims to ensure the long-term sustainability and growth of the network. Locking CKB tokens in NervDAO helps mitigate the effects of secondary issuance, reducing the dilution of existing token value. The rewards incentivize users to actively participate in the network, aligning the interests of token holders with the overall health and growth of the Nervos ecosystem.
The launch of NervDAO marks a significant milestone for the Nervos Network, providing a new way for CKB holders to earn rewards while supporting the network’s economic stability. With support for various wallets, such as JoyID Passkey and OKX Wallet, NervDAO is designed for broad accessibility and ease of use, encouraging widespread participation in the Nervos ecosystem.
