Nirvana, the pioneering DeFi protocol, has announced its relaunch as Nirvana V2. This marks the beginning of a new era in decentralized finance following the restitution of funds stolen in the 2022 hack and a legal victory over the hacker.
Complete Restitution and Perpetual Recovery
Nirvana V2 is the first in the DeFi space to fully reimburse all funds stolen in the 2022 hack. The protocol now features a revenue-sharing mechanism, ensuring continuous distribution of funds to affected participants. This unique approach sets a new standard for community-first recovery efforts.
Innovating for Security and Stability
Nirvana V2 addresses vulnerabilities with a new single-collateral reserve system, enhancing security and stability. This isolated design prevents cascading failures and protects the protocol from external shocks, providing a more robust platform.
Decentralized Governance for the Future
Governance in Nirvana V2 is fully decentralized and reimagined through the Automated Token-Managed Adjustments (ATMA) system. This innovative approach allows for continuous adjustments of protocol parameters through token-based voting. Unlike legacy systems, Nirvana V2’s governance tokens are earned organically through protocol usage, with no pre-launch insider distributions.
Nirvana V2 not only restores trust in the protocol but also sets high standards in the decentralized finance world, ensuring security and transparency for its users.
