Ethfinex Nectar Token (NEC) is an ERC-20 compliant token developed on Ethereum blockchain. The token is issued by Ethfinex which is a hybrid decentralized exchange. The purpose of Ethfinex Nectar token is to incentivize the market makers on the exchange as a reward for the liquidity they provide. The reward mechanism is that standard trading fees are collected from each trade. A proportion of this fee is sent to the smart contract. After 30 days period, Ethfinex Nectar Tokens are distributedShow more [+] among the makers in proportion to total trading volume conducted in the market. The users registering for the Ethfinex Market Maker scheme earn a stake in the governance, development, and success of the platform. There is a loyalty program for market makers. loyalty points entitle holders to loyalty rewards held in Liquidity Smart Contract which can be redeemed upon request. Among the whitelisted Ethfinex users, these loyalty points can be traded on a secondary market. Loyalty points enable the users to participate in the future governance of the Ethfinex platform.
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