NIRV: Credit against the Floor

Documentation Index

Fetch the complete documentation index at: https://docs.nirvana.finance/llms.txt

Use this file to discover all available pages before exploring further.

NIRV (pronounced nerve) is a stablecoin minted against staked ANA. Borrowers can tap into ANA’s floor 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 source of productive value.

​

Borrowing NIRV

1. Deposit ANA into Nirvana
   • Go to the “Stake & earn” section.
   • Stake your ANA.
   • This ANA begins earning prANA and becomes usable as collateral.

2. Navigate to “Borrow/Repay NIRV”
   • Here you’ll find information on:
     • Your total ANA collateral
     • The current ANA floor price
     • Your NIRV debt limit (how much you can borrow)

3. Click “Borrow NIRV” and enter the amount of NIRV to borrow
   • 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.

4. 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:

$$\text{Locked ANA} = \frac{\text{NIRV borrowed}}{\text{ANA floor price}}$$

​

Repaying NIRV

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.