DNAR & NEOM

Dinar and Neom are the native tokens of the Setheum network & Neom network respectively in a similar way that Bitcoin is the native token of Bitcoin and Dot is the native token of Polkadot network.

What are DNAR and what are NEOM?

Dinar (DNAR) and Neom (NEOM) are the native tokens of the Setheum network & Neom network respectively in a similar way that Bitcoin (BTC) is the native token of Bitcoin network and Dot (DOT) is the native token of Polkadot network.

NEOM are the native asset of the Neom Network - Setheum's Canary Network.

The smallest unit of account in a Substrate network (Polkadot, Kusama, Setheum etc.) is the Planck (a reference to Planck Length, the smallest possible distance in the physical Universe). You can compare the Planck to satoshis or wei, while the DOT is like a bitcoin or an ether. Kusama tokens (KSM) are equal to 1e12 Planck, and Polkadot mainnet DOT are equal to 1e10 Planck.

The Planck in Setheum is natively called "Page", the plural is Pages. Setheum DNAR are equal to 1e10 (10,000,000,000) Pages/Planck.

DNAR: The Native Token of Setheum is the DNAR (Plural is DNAR /Dinar/). The supply of the DNAR token is initially 129,000,000 DNAR (129 million Dinar).

The NEOM will be claimable for the participants of Setheum's token sale just like KSM claims. But the NEOM will also be available to the participants of the Parachain Slot Auction to secure Neom's parachain slot on Kusama.

For the Neom Allocation, check here.

The Dinar supply curve halves every 2 years (24 months), and it is set to have a lower inflation rate than bitcoin by the year 2039 for at least another 101 years until the last bitcoin is mined. Read more here.

The NEOM has the same supply curve as the DNAR, it halves every 2 years (24 months) and the inflation rate is supposed to be lower than that of the DNAR in Setheum.

Polkadot

Unit

Decimal Places

Planck

1

Microdot (uDOT)

4

Millidot (mDOT)

7

Dot (DOT)

10

Setheum

Unit

Decimal Places

Page (pDNAR)

1

Microdinar (uDNAR)

4

Millidinar (mDNAR)

7

Dinar (DNAR)

10

Neom

Unit

Decimal Places

Page (pNEOM)

1

Microneom (uNEOM)

4

Millineom (mNEOM)

7

Neom (DNAR)

10

What are the uses of DNAR and NEOM respectively?

The DNAR is the native token of Setheum Network and the NEOM is the native token of Neom Network. The DNAR and NEOM serve Seven (7) key functions in their various networks:

1.1 Utility

The DNAR is the native fee token for the Network fees on the Setheum Network and is required to run the Network for all network activities. Transaction fees and all other network activities are utilized by the native DNAR in Setheum.

The NEOM is the native fee token for the Network fees on the Neom Network and is required to run the Network for all network activities. Transaction fees and all other network activities are utilized by the native NEOM in Neom.

1.2 Staking

The NEOM is also utilized in staking for collators and validators and staking for oracles. NEOM is required to run a staking node on the network and earn NEOM staking rewards.

1.3 Liquidity Staking and Serping - SerpStaking

The DNAR can be used for liquidity serp-staking on the Setheum Network to earn DNARs (DNARS) liquid tokens and still earn staking rewards at the same time spending & trading the DNARs.

The NEOM can be used for liquidity staking on the Setheum Network to earn NEOMs (NEOMS) liquid tokens and still earn staking rewards at the same time spending & trading the NEOMs.

For more on Serp-Staking and how Serping stablecoins in done, read here.

1.4 Reserve Token

The DNAR is the Reserve Token of the SERP (Setheum Elastic Reserve Protocol) in Setheum, SettCurrencies are backed by the DNAR elastically using Setheum's TES (Token Elasticity of Supply) algorithm based on the PES (Price Elasticity of Supply) algorithm. The DNAR is the reserve that maintains the stability of the settcurrencies.

The NEOM is the Reserve Token of the SERP (Setheum Elastic Reserve Protocol) in Neom, Neom hosted SettCurrencies are backed by the NEOM elastically using Setheum's TES (Token Elasticity of Supply) algorithm based on the PES (Price Elasticity of Supply) algorithm. The NEOM is the reserve that maintains the stability of the settcurrencies serped in Neom.

1.5 Exchange Medium

The DNAR & NEOM are used as the base currency and exchange medium for certain non-mainstream assets in the Setheum Built-In DEX - SettinDEX, similar to BNB in Binance.

1.6 Market Value Unit

The DNAR is used as the market capitalization unit of the assets, all assets are converted into voting power according to the price of DNAR, similar to ETH/ERC20.

1.7 Vesting

DNAR may have a lock placed on them to account for vesting funds. Like other types of locks, these funds cannot be transferred but can be used in other parts of the protocol such as voting in governance or being staked as a validator or nominator.

Vesting funds are on a linear release schedule and unlock a constant number of tokens at each block. Although the tokens are released in this manner, it does not get reflected on-chain automatically due to the fact that locks are lazy and require an extrinsic to update.

There are two ways that vesting schedules can be created.

  • One way is as part of the genesis configuration of the chain.

  • A second way is through an extrinsic type available in the Vesting pallet, vested_transfer. The vested transfer function allows anyone to create a vesting schedule with a transfer of funds, as long as the account for which the vesting schedule will be created does not already have one and the transfer moves at least MinVestedTransfer funds, which is specified as a chain constant.

Vesting schedules have three parameters, locked, per_block, and starting_block. The configuration of these three fields dictate the amount of funds that are originally locked, the slope of the unlock line, and the block number for when the unlocking begins.

Lazy Vesting

Like simple payouts on Polkadot (mind, Setheum has a lot of runtime similarities to Polkadot as they are both built on Substrate, thus the cryptography and basic commons similarities), vesting is lazy, which means that someone must explicitly call an extrinsic to update the lock that is placed on an account.

  • The vest extrinsic will update the lock that is placed on the caller.

  • The vest_other will update the lock that is placed on another "target" account's funds.

These extrinsics are exposed from the Vesting pallet.

DNARs

Be liquid as you stake and serp. Release staked assets (DNAR) as fungible & liquid assets (DNARS), extracting the derivative value of staked assets to fuel the Economy without sacrificing network security.

The DNARS are the liquid Dinar tokens minted when DNAR is staked on the Setheum Network. Since you can't move the DNAR when locked and staking, Setheum provides the DNARS to let you move around your DNAR while you still earn staking rewards.

NEOMs

Be liquid as you stake and serp. Release staked assets (NEOM) as fungible & liquid assets (NEOMS), extracting the derivative value of staked assets to fuel the Economy without sacrificing network security.

The NEOMS are the liquid Dinar tokens minted when NEOM is staked on the Setheum Network. Since you can't move the NEOM when locked and staking, Setheum provides the NEOMS to let you move around your DNAR while you still earn staking rewards.