OpenFi (NEC)

OpenFi is a decentralized spot and perpetual exchange owned by DAOs.

Whitepaper

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What is OpenFi

OpenFi is a decentralized spot and perpetual exchange that operates on a vast scale, providing traders with low swap fees and zero-price impact trades. The platform's trading capabilities are bolstered by a diverse multi-asset pool, which earns liquidity providers fees through market making, swap fees, and leveraged trading.

• The Protocol owns the liquidity of the new generation DEX
• Supports swaps and leveraged trading
• $OPEN: endorses assets and holds a warrant as a Treasury asset
• $NEC(NECTAR): acts as the protocol contribution token and it is used to administer the contract

The protocols of OPENFI offers two tokens, $OPEN and NECTAR($NEC), both of which are ERC20 tokens based on the zkSync Era chain. The $OPENtoken functions as an asset endorsement token as well as a certificateof ownership for treasury assets. On the other hand, $NEC tokens are usedtomanage contracts and represent a value contribution to the protocol.