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navTokens are on-chain derivatives that multiply in value agaist their base assets with demand. Each one has a mathematically impenetrable floor price (Nirvana Assured Value, or NAV) enforced by protocol-owned reserves. navTokens work similarly to DAT companies such as MicroStrategy, but they’re on-chain, fair, algorithmically controlled, and have built-in price protection. Each navToken has redeemable value from its underlying reserve, and offers structural price asymmetry against its reserve asset. navTokens can also be used as collateral for inerest-free loans with no liquidation risk.

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How navTokens Work

navTokens turn any Solana token into a reserve asset, allowing anyone to become the Michael Saylor of any token. Each navToken is backed by a single-asset reserve. navSOL → Backed by SOL
navBONK → Backed by BONK
navORE → Backed by ORE navTokens are minted in exchange for their reserve asset (e.g., navSOL is minted with SOL). Those reserve assest are deposited into a protocol-owned reserve which fulfills navToken redemptions. Each navToken offers structural price asymmetry against its reserve asset:
  • Magnified upside potential
  • Mathematically limited downside
navTokens are priced against their reserve asset with constant liquidity provided by the Assured Value Machine (AVM).
  • Price rises when people buy (mint).
  • Price falls when people sell (redeem), but never below the NAV (floor price).

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Rising Floor Price

A navToken’s floor price (denominated in the reserve asset) is a mathematically assured minimum that’s always redeemable. The protocol enforces the floor by using its reserves to provide an on-chain bid that’s capable of buying every navToken in supply. The floor price can rise, but never fall. Rising Floor With Labels1 Gi There are two ways the floor can rise:
  1. Rebalancing When there is sufficient liquidity above the floor price, the AVM adjusts the price curve, reallocating some liquidity to the floor, raising it higher.
  2. Fee drip A portion of fees from every buy, sell and borrow within any given market, is directed to the floor reserves, raising the floor price.

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Non-liquidating Loans

Samsara offers interest-free loans with no liquidation risk, using any navToken as collateral. deposit navToken → borrow the reserve asset up to the floor value of your collateral. Non-liquidating loans are made possible by the floor price, enabling flexible strategies for holders, including non-liquidating leverage.

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Governance & Fees

Each navToken market has various parameters and fees that are governed by prANA holders. All parameters shift incrementally on a weekly cadence. Screenshot2025 12 08133022 Pn Learn more about governance.