Nemesis DAO, a decentralized reserve currency protocol built on the Binance Smart Chain, has announced the launch of its platform. It is backed by a receptacle of assets in the treasury, giving it an inherent value that it will not go below. It aims, per the project white paper, to build the go-to reserve currency on the Binance Smart Chain network at the same time guaranteeing short and long-term profits for all of its token holders.
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It hopes to become the ideal trading pair on the network backed by real assets.
Nemesis DAO will offer community members a ton of rewards for staking and minting, and through the integration of DAO, it aims to run a community-governed project where $NMS token holders reserve the right to vote on suggestions and proposals on future developments. Additionally, Nemesis DAO has a vision to become the world’s leading blockchain ecosystem—offering an equal and fair opportunity to users while delivering a transparent and safe playground devoid of rug pulls, manipulation, and other malicious activities.
What Nemesis DAO Has Done Until Today
Since its launch, Nemesis DAO has recorded remarkable feats—delivering on its promises while introducing certain unique concepts to the market.
Two weeks after the launch of the project, DREX, the lead developer announced a small yet strategic roadmap for success. All of the promises have been fulfilled by the team, helping build trust & transparency and pushing the project further, some of them including the new faster and more responsive website UI, CEX listings, media collaborations, marketing campaigns, buyback & burns, new contests & events along with the launch of certain innovative products.
CertiK Audit Passed
The importance of a third-party software audit cannot be overemphasized, especially in the crypto industry where hacks and vulnerability exploitations are the other of the day.
Like other well-meaning projects, Nemesis DAO has authorized a 3rd party software audit, and not surprisingly, has passed the test, with results showing that the protocol is secure and at no risk of a security breach. This is in line with the development team’s core value of building a transparent, fair, and secure blockchain ecosystem.
Private KYC Done
With the number of rug pulls in the DeFi space on the rise, reputable media outlets would only partner with projects with well-known team members. Nemesis DAO, being a transparent, fair, and sustainable protocol, has completed all KYC requirements with several media outlets. In line with this, the BSC-based protocol has entered a consortium with BSC Daily— the most popular platform on the advanced BSC network. BSC Daily only collaborates with projects who complete the KYC process. Nemesis DAO deeply respects identity confidentiality and will only complete KYC with the most respectable crypto platforms.
Integration of Multiple Signature Wallet
Another yet impressive task accomplished by Nemesis DAO is the assignment of privileged roles to multiple signature wallets [Multi-Sig]. In a bid to prevent any point of failure caused by incessant security breaches, Nemesis DAO has pushed the management and ownership of the contract to a multi-sig wallet and security policy that has been devised to request a ⅔ consensus before any activity is executed.
About Nemesis DAO
Known as a decentralized reserve currency protocol, Nemesis DAO is a BSC-based project that seeks to create a reserve currency for the network while enhancing short and long-term profits for its token holders. Running a democratic protocol, thanks to DAO,