NCTR token
The NCTR token (pronounced “nectar”) is Apillon’s native utility token and sustains Apillon functionalities when interacting with linked Polkadot parachains and transacting with their protocols.
It represents a uniform means of value exchange in the process of building Web3 projects on the Apillon platform, as it replaces the need to interact with individual tokens of utilized parachains.
For every value-based action on Apillon, the platform manages the utility of parachains’ features in their native tokens in the back end so that developers only deal with NCTR and do not have to worry about acquiring or exchanging other tokens.
The Apillon business model also supports payments in fiat (EUR and USD), further boosting adoption among first-time adopters of Web3. The platform converts it to NCTR to unlock Apillon functionalities.
Tokenomics Actors
The tokenomics of the NCTR token and Apillon’s business model rely on decision-making by two main actors:
- NCTR Developers
- NCTR Holders
The NCTR tokenomics are, therefore, built to incentivize both actors and ensure all NCTR holders have a relevant say in the platform’s future and get rewarded for participating in Apillon’s governance.
NCTR Developers
Developers are the force that drives Web3 and the first group of participants in the Apillon tokenomics. The platform is designed to cater to their ever-evolving needs, respond to their expectations, challenges, and workflows, but also to empower them to voice feedback and impact the course of platform development through governance.
In the vast and ever-evolving field of blockchain technology, it is increasingly challenging for all stakeholders to track all the newly launched projects and evaluate their offerings. To double down on the Web3 research power, Apillon empowers its main users, the developers, to list new service candidates via governance and vote on preferred services to be implemented in the upcoming platform upgrades. Through user-powered governance and a token-curated registry of services, the platform continues to evolve and optimize its offering while preventing any potential censorship.
NCTR Holders
No Web3 project can stand the test of time and market without community backing. The Apillon community gathers NCTR token holders and Web3 developers. The NCTR token is designed to serve and reward everyone who contributes to the growth of the Apillon platform and boosts Web3 adoption, aligned with Apillon’s primary mission. All NCTR token holders can be Web3 builders, either by developing functional Web3 products or growing the ecosystem, and thus have the right to contribute to the NCTR token pledging and Apillon’s inclusive governance.
Token Utilities
The NCTR token is designed to be a multi-purpose and widely used asset, covering a range of utility cases for platform users and community members. NCTR token utilities are spanning across three main pillars:
- Governance
- Incentivization
- Payments
Each pillar further serves both NCTR Developers and NCTR Holders, offering distinct opportunities for utilizing the NCTR token.
Governance
Apillon's product governance does not imply an establishment of Apillon as an end-to-end DAO where participants propose and vote on everything, business decisions included. Instead, the governance aspect is focused on the product, i.e., the Apillon platform, and its narrow scope of user-oriented services and features that participants can help control and upgrade.
Incentivization
The second NCTR token’s utility is aimed at incentivizing both tokenomics actors in various ways while promoting Web3 adoption. Adoption is, therefore, the main measured KPI, and when achieved, it awards NCTR tokens to rightful recipients.
Incentivization through NCTR spans several use cases, including proof of adoption (PoA), prebuilt solutions grants, prebuilt solutions marketplace, SDK grands, protocol integration grants, bug bounties, authorship royalties, referral earnings, and many more.
Payments
Besides providing few-click-deploy Web3 services and straightforward APIs to integrated parachains, Apillon offers an underlying payments module that simplifies the use of Web3 technologies. The payments module removes the need for developers to acquire and maintain a positive balance of tokens to pay for underlying services. This way, Apillon can charge for its services in a traditional Saas model, where users pay monthly subscriptions with fiat using credit cards and unlock access to a fixed amount of Web3 services and features. The secondary path to pay for Apillon services is through the NCTR token. The Governance and Incentivization utilities of the NCTR token deliver a fantastic opportunity for synergy between NCTR payments and product governance.
Tokenomics
Technical Token Parameters
The NCTR token is an ERC-20-compatible token minted on the Astar network.
Total supply: 150,000,000 NCTR
Tokenomics Whitepaper
Learn more about the NCTR token, its role in the Apillon business model, and the general tokenomics.