Nirvana is a two-part system combining algorithmic wealth generation with ultra low-risk stablecoin functionality on the Solana network. The setup issues the ANA token: an algorithmic metastable asset designed to act as a store of wealth. It also issues the NIRV token: a decentralized superstable store of value. With this design, Nirvana supports zero liquidation-risk loans of NIRV that can carry a negative interest rate. In other words, you earn yield on your debt. It achieves this by routing the volatile, speculative “energy” of the ANA token into the backing for the superstable NIRV token.

Nirvana keeps a diversified portfolio of reserve assets that backs the value of ANA. At any given moment, ANA’s intrinsic value is supported by those reserves. The protocol will always repurchase ANA at its intrinsic value, creating a hard floor price that the token cannot fall below in trading. Stakers are rewarded for staking their ANA through periodic incentives. The protocol mints pre-ANA (prANA) tokens at a regular cadence, determined by the total supply of ANA. These prANA tokens are distributed to stakers according to their staked amount. Over time, the recurring rewards build compounding APY for stakers.

ANA also serves as collateral for NIRV borrowing. NIRV is a superstable currency fully collateralized 1:1 with the intrinsic (floor) value of ANA. Because NIRV loans are issued based on the floor value of ANA-which cannot be breached-there is zero liquidation risk associated with these loans.