Floor Price Fund
The NEU token has a Floor Price Fund. The Floor Price Fund helps support the NEU token price, and with the nGLP vault v2 update, the Floor Price has been updated : $0.65 (listing price) -> $1.
The funds that are currently in the Floor Price Fund will be managed and compounded regularly to create a revenue stream.
- 90% will be deployed to the nUSDC vault.
- 10% will be reserved in order to deploy the fund immediately at the trigger price.
*esNEU rewards from the Floor Price Fund's nUSDC will be burned.
This Fund will be used to buyback NEU tokens within 24 hours after the market price is maintained below the Floor Price for 48 hours. The single maximum purchase limit (cap) is equal to 10% of the funds.
For example, if
- NEU token's listing price is $1
- $60k is directed to the Floor Price Fund after the public sale
- NEU token price drops from $1 to $0.98 on Jan 1 15:00, and stays below $1 until Jan 3 15:00The Floor Price Fund will be used within the period of Jan 3 ~ Jan 4 to buyback NEU tokens until the listing price ($1) is reached or the funds are fully used.
The NEU bought back with the Floor Price Fund will be staked to create additional revenue.