Skip to main content
NIRV is a stablecoin minted against staked ANA. Borrowers can unlock USDC liquidity by borrowing NIRV up to ANA’s floor value with zero interest and zero risk of liquidation. Because ANA’s floor is enforced by the AVM, it becomes a dependable source of borrowing power. Users can mint NIRV with full confidence that their position won’t be wiped out in a downturn. This makes NIRV a structurally safe credit primitive, a dollar-denominated stablecoin backed by verifiable, protocol-enforced value. It brings capital efficiency to the ecosystem without the fragility of legacy lending platforms, and extends the utility of ANA as a self-custodied source of productive value.

​
Borrowing NIRV

  1. Deposit ANA into Nirvana image_2025-10-03_12-49-24.png
    • Go to the “Stake & earn” section.
    • Stake your ANA.
    • This ANA begins earning prANA and becomes usable as collateral.
  1. Navigate to “Borrow/Repay NIRV” image_2025-10-03_12-50-02.png
    • Here you’ll find information on:
      • Your total ANA collateral
      • The current ANA floor price
      • Your NIRV debt limit (how much you can borrow)
  1. Click “Borrow NIRV” and enter the amount of NIRV to borrow image_2025-10-03_12-51-16.png
    • You can borrow up to the floor value of your deposited ANA.
    • Example: If you have 10 ANA and the floor price is $3.50, you can borrow up to 35 NIRV.
  1. Borrow
    • A one-time borrow fee is applied.
    • Borrowed NIRV appears in your wallet.
    • A portion of your ANA becomes locked as collateral.

​
Locked collateral

  • Only the amount of ANA backing your debt is locked.
    This amount is calculated as:
Locked ANA=NIRV borrowedANA floor price\text{Locked ANA} = \frac{\text{NIRV borrowed}}{\text{ANA floor price}}
Example: You borrowed 21 NIRV at a floor price of $5.00This means 4.2 ANA is locked as collateral.The rest of your deposited ANA remains unlocked and continues earning prANA.

​
Repaying NIRV

image_2025-10-03_12-57-05.png
  1. Go to the “Borrow/Repay NIRV” section.
  2. Enter the amount of NIRV to repay.
  3. Submit the transaction.
Once repaid:
  • An equivalent amount of ANA collateral is unlocked.
  • You may withdraw ANA or keep it staked to continue earning prANA.
⌘I