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Is there a team or insider allocation for tokens?

No. Nirvana is a fully decentralized protocol with no team or insider allocations. Every ANA & NIRV token in existence was created through the protocol. If the there were insider distributions of tokens, it would break the floor price guarantees of the protocol.

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How is the floor price of ANA guaranteed?

The floor price is guaranteed by the protocol-owned liquidity & market price function. The price function sets a minimum price that can be guaranteed for 100% of ANA tokens sold back to the market for the liquidity held in reserve.

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Does the floor go down?

No. Once the floor reaches a new height, it never recedes. It will either stay the same or rise. Whenever the floor ratchets upwards, this locks in gains in perpetuity for ANA.

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Can ANA’s price crash at launch?

No. The first ANA token minted will be the cheapest it will ever be. The first ANA token is purchased from the market at the floor price, and from that moment forward the price can only appreciate.

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Why would voters decide to keep the floor constant, rather than allow it to rise?

The floor will not rise unless there is a majority vote to allow it to rise. The reason voters may decide to keep the floor constant is that this could increase the returns for their prANA. Since prANA can be executed as a call option for ANA with the strike price equal to the current floor price, the monetary value of prANA is the difference between the current market price of ANA and its floor price. As the market price of ANA extends beyond the floor price, the value of prANA increases, raising the APY for staked ANA.

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What happens if ANA is sold back to the floor price?

If ANA is sold back such that its price reaches the floor price, the protocol’s native market will continue to honor sales of ANA at the floor price for all ANA tokens in circulation. But the next ANA token purchased will incur positive price impact, raising the price of ANA. Thus, if ANA is at the floor price, the risk and reward for purchasing ANA is absolutely asymmetric. ANA is at the lowest price it can possibly be at, and so it can only appreciate from there. This asymmetry discourages panic selling, since once ANA is at the floor, it is not rational to continue selling it back.

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Why is there a cooldown period for the floor rise?

The floor can only rise once every 2 hours. This throttle prevents the floor from rising too quickly. If governance votes have kept the floor constant for some time, and then the votes switch the majority to be in favor of allowing the floor to rise, without a cooldown period the floor would rise to its maximum value immediately.