Welcome to NAVA.FINANCE, home to the first algorithmic token pegged to $REI on the REI network.
The NAVA algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the REI network. The protocol's underlying mechanism dynamically adjusts NAVA's supply, pushing its price up or down relative to the price of REI.
Inspired by the original idea behind Basis as well as its predecessors (bDollar and soup), NAVA.FINANCE is a multi-token protocol which consists of the following three tokens: -NAVA (NAVA). -NAVA Shares (NSHARE) -NAVA Bonds (NBOND).
Unlike previous algorithmic tokens, NAVA is not pegged to a stable coin— it is instead pegged to REI. Why is this? NAVA.FINANCE believes in the potential of REI network, and has chosen to align its mission to both provide value to and derive value from REI's future growth. NAVA aims to become the main medium of exchange on REI network: this will be achieved by providing a mirrored, liquid asset to REI.
One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the NAVA.FINANCE team will maintain a focus on innovation around enhanced functionality and use cases.