Nirvana is Launching on AcceleRaytor

We’re excited to announce that on April 5th, Nirvana will be launching on AcceleRaytor!

The Nirvana protocol is a twin system that produces $ANA, a volatile token with an algorithmically rising floor price, as well as $NIRV, a decentralized superstable coin with a delegated peg.

Yield for staking $ANA and taking $NIRV loans is distributed in $prANA (pre-$ANA), which are tokens that act as non-expiring options to mint ANA at its floor price.

The AcceleRaytor launch will be for the $prANA token, giving users the option to mint $ANA at the floor price.

This article will cover the two parts of an AcceleRaytor launch: 1) the Public Raise and 2) the IDO on Raydium.

IMPORTANT: $prANA is not a standard governance token!

The AcceleRaytor Raise is for $prANA, one of three tokens in the Nirvana protocol, along with $NIRV and $ANA. $prANA tokens act as non-expiring options to mint $ANA at its floor price.

The option utility for $prANA will be live on Nirvana’s site on April 11, 00:01 UTC, after which $prANA can be used to mint $ANA.

Read more on $prANA here: https://docs.nirvana.finance/mechanics/staking-rewards-prana

Read more about $ANA and the Nirvana protocol here: https://docs.nirvana.finance/mechanics/summary

1. prANA AcceleRaytor Public Raise details:

Total tokens for the raise: 125,000 prANA, unlocked

Token fixed price: 2.00 USDC for 1 prANA

Total raise: 250,000 USDC

Model: Randomized Draw (Lottery)

Allocation for selected ticket: 50 USDC (25 prANA)

Total number of winning tickets: 5,000

Pool opens: April 5, 02:00 UTC

Pool closes: April 5, 14:00 UTC

Open period of the pools: 12 hours

Eligibility and pool details:

There will be one RAY pool available for the prANA raise.

  • Allocation will be determined by random ticket draw.
  • Allocation for one selected ticket: 50 USDC
  • There will be four snapshot deadlines to determine ticket allotment.

4-day deadline:

  • Eligibility: At least 100 RAY staked in RAY single-sided staking prior to the staking deadline below and successful USDC deposit once the pool opens. RAY must remain staked until the pool opens.
  • Lottery tickets: 1 ticket for every 100 RAY staked — up to a maximum of 5 tickets. Staking more than 500 RAY will still receive 5 tickets maximum.
  • Staking deadline: April 1, 16:00 UTC
  • NOTE: Staking deadline set to a later date than normal 7-day deadline due to Nirvana’s protocol launch timing.

30-day deadline:

  • Users that are eligible for the 30-day deadline will receive additional tickets on top of any received for the 4-day deadline.
  • Eligibility: At least 50 RAY staked 30 days prior to the 30-day staking deadline below and successful USDC deposit once the pool opens. RAY must remain staked until the pool opens.
  • Lottery tickets: 1 ticket for every 50 RAY staked — up to a maximum of 5 tickets, and 1 additional ticket for every 1,000 RAY staked.
  • Example: Alice has had 2,500 RAY staked before the 30-day deadline. She will receive 12 tickets — 5 for the 4-day deadline 100 RAY max allotment, 5 for the 30-day deadline 50 RAY max allotment, and 2 additional for each 1,000 RAY staked.
  • 30-day staking deadline: March 2, 16:00 UTC (snapshot already taken)

90-day deadline:

  • Users that are eligible for the 90-day deadline will receive additional tickets on top of any received for the 30-day and 4-day deadline.
  • Eligibility: At least 50 RAY staked 90 days prior to the 90-day staking deadline below and successful USDC deposit once the pool opens. RAY must remain staked until the pool opens.
  • Lottery tickets: 1 ticket for every 50 RAY staked — up to a maximum of 5 tickets, and 1 additional ticket for every 1,000 RAY staked.
  • Example: Carol has had 3,000 RAY staked before the 90-day deadline. She will receive 21 tickets — 5 for the 4-day deadline 100 RAY max allotment, 5 for the 30-day deadline 50 RAY max allotment and 3 additional for each 1,000 RAY staked, and 5 for the 90-day deadline 50 RAY max allotment and 3 additional for each 1,000 RAY staked.
  • 90-day staking deadline: January 1, 16:00 UTC (snapshot already taken)

180-day deadline:

  • Users that are eligible for the 180-day deadline will receive additional tickets on top of any received for the 90-day, 30-day, and 4-day deadline.
  • Eligibility: At least 50 RAY staked 180 days prior to the 180-day staking deadline below and successful USDC deposit once the pool opens. RAY must remain staked until the pool opens.
  • Lottery tickets: 1 ticket for every 50 RAY staked — up to a maximum of 5 tickets, and 1 additional ticket for every 1,000 RAY staked.
  • Example: Dave has had 3,000 RAY staked before the 180-day deadline. He will receive 29 tickets — 5 for the 4-day deadline 100 RAY max allotment, 5 for the 30-day deadline 50 RAY max allotment and 3 additional for each 1,000 RAY staked, 5 for the 90-day deadline 50 RAY max allotment and 3 additional for each 1,000 RAY staked, and 5 for the 180-day deadline 50 RAY max allotment and 3 additional tickets for each 1,000 RAY staked.
  • 180-day staking deadline: October 3, 16:00 UTC (snapshot already taken, date modified for RAY staking updates)

How does it work?

Tickets: Users receive eligible tickets according to the ticket allotments above. However, for a ticket to be entered in the selection process, users must deposit USDC for each ticket they wish to have entered.

  • Example: Dave has 29 tickets, Carol has 21 tickets, and Alice has 12 tickets as the above examples. Bob staked 300 RAY before the 4-day deadline and will receive 3 tickets.

Deposit: When the pool opens, users will need to deposit 50 USDC for each ticket in order for it to be counted in the on-chain random draw. Users can choose to deposit less than their total ticket allocation, however, tickets without a matching deposit will not be entered in the draw. Deposits must be in multiples of 50 USDC. You can only deposit once.

  • Carol deposits 1,050 USDC, and Alice deposits 600 USDC, their maximum, to ensure that all of their tickets are entered in the draw. Bob deposits 100 USDC even though he has 3 tickets because he needs the extra 50 USDC to buy Alice a cool NFT that is dropping that day. In Bob’s case, only 2 of his tickets will be entered in the lottery.

Random Draw: Once the pool closes, the on-chain random draw will take place, and selected tickets will receive a 50 USDC allocation for prANA. Results of the draw will be shown very shortly after the pool closes.

  • Example: Carol has 4 selected tickets and will receive a 200 USDC allocation. Alice has 1 selected ticket and will receive a 50 USDC allocation. Bob does not have any selected tickets, better luck next time, Bob.

Claim: Once the random draw is complete users will be able to remove their USDC for any tickets that were not drawn. Claims for prANA from selected tickets will open once trading begins for the prANA IDO (details below).

  • Example: Carol claims her 850 USDC, Alice claims her 550 USDC, and Bob claims his 100 USDC after the draw concludes. Carol and Alice must wait for the prANA IDO to claim prANA.

Random Draw Transparency

The random draw is done on-chain, with numbers assigned to tickets in the order that users deposit in the pool. After the pool closes, randomly selected numbers will be determined by hashing a block, multiplying it by the timestamp, and matching the last digits of that number with user ticket numbers. Ticket numbers with the last digits matching are designated a selected ticket. This process will be repeated until all tickets are determined.

2. prANA IDO on Raydium:

Token starting price: 2.00 USDC for 1 prANA

IDO Launch time: April 6, 00:01 UTC

How does it work?

  • Raydium will launch a prANA-USDC liquidity pool (LP), after which trading will be live on the Raydium Swap interface. The AMM will begin placing orders on Serum a short time after the LP launch.
  • Participants with winning tickets for the AcceleRaytor raise pool will also be able to claim their tokens at approximately the same time that the prANA-USDC LP launches.

Fusion Pool — Provide liquidity to earn prANA rewards

  • Users will also be able to add liquidity to prANA-USDC LP and then stake LP tokens to earn yield on the Fusion Pools page. Rewards will be in prANA tokens.
  • Reward emissions on the Fusion pool will begin shortly after the LP launches, to give users time to add liquidity and stake in the Fusion pool for yield farming.

What is Nirvana?

The Nirvana protocol is a twin system that produces $ANA, a volatile token with an algorithmically rising floor price, as well as $NIRV, a decentralized superstable coin with a delegated peg.

Nirvana’s virtual AMM enables the minting of ANA from a diverse set of trusted stablecoin options. ANA’s price is free to appreciate, but the minimum floor price rises algorithmically as stablecoin reserves increase.

Zero liquidation-risk loans of the superstable NIRV token can be taken by staking ANA. Loans have a negative interest rate by virtue of prANA reward emissions, meaning users earn yield on debt.

Yield for staking ANA and taking NIRV loans is distributed in prANA (pre-ANA), which are tokens that act as non-expiring options to mint ANA at its floor price. Any funds used to exercise prANA return to the stablecoin reserve, adding value to the protocol and stabilizing floor price.

Make sure to read more about the protocol in the documentation: https://docs.nirvana.finance/mechanics/summary

Make sure to follow official Raydium accounts below for updates.

Persons located in or residents of the United States, North Korea, Iran, Venezuela, any sanctioned countries as provided by OFAC, or any other jurisdiction in which it is prohibited from using any of the services offered on the Raydium website, including AcceleRaytor, (the “Prohibited Jurisdictions”) are not permitted to make use of these services or participate in this token sale. For the avoidance of doubt, the foregoing restrictions on any of the services offered on the Raydium website from Prohibited Jurisdictions apply equally to residents and citizens of other nations while located in a Prohibited Jurisdiction.

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