Token Economics of Nanon

Nanon Token

The Nanon token is the native token of the Nanon blockchain, comparable in utility to traditional tokens on Layer 1 (L1) and Layer 2 (L2) networks, and is fully transferable. Within the Nanon Network and ecosystem, Nanon and its staked version, esNanon (staked Nanon), contribute to ecosystem balance and integrity. Nanon tokens can be destroyed in a 1:1 ratio to mint esNanon.

esNanon Token

esNanon is a non-tradable and non-transferable token designed primarily for staking within the Nanon ecosystem to obtain various benefits:

• Nanon can be instantly converted to esNanon at a 1:1 ratio.

• esNanon can be destroyed and exchanged back to Nanon, but the exchange rate and waiting times vary, detailed in specific documentation.

• esNanon is used to reward Shield Node operators, providing multiple rewards for their service.

Advantages of Staking esNanon:

• Participation in Staking Pools

  • Creation of Pools: Only KYC-compliant Shield Node Key super nodes, which hold at least 100 Shield Node Keys, can create pools. This supports community members who meet safety standards.

  • Pool Configuration: Pool owners can name their pool, provide a description, attach social account links, and set up reward distribution among pool owners, key stakeholders, and esNanon stakeholders.

  • Pooling Shield Node Keys: By pooling Shield Node Keys, community members can collaborate to smooth out the rate of reward releases, benefiting all participants in the pool with more consistent and significant rewards.

  • Pooling esNanon: Any holder of esNanon, regardless of Shield Node Key ownership, can join a pool to stake their esNanon and earn a share of the pool's rewards. The more esNanon staked in the pool, the higher the yield factor for the entire pool, benefiting all stakers.

  • Rewarding Participants: Rewards earned by all participating Shield Node Keys in esNanon will be collected by the pool contract and redistributed according to the pool's settings.

  • For more details, refer to the staking explanations on our website.

• Exclusive Airdrops (Q3 2024): Future airdrops and asset distributions related to blockchain projects (games, DEXs, protocols, etc.) within the Nanon ecosystem.

• Governance (Q4 2024): In the future, esNanon holders and Shield Node Key holders will have the opportunity to vote on governance proposals.