Nirvana is a twin system of algorithmic wealth & ultra low-risk stablecoin on the Solana network. It produces the ANA token: an algorithmic metastable token that serves as a store of wealth, and the NIRV token: a decentralized superstable store of value.
ANA tokens and NIRV tokens are not “emitted.” Their supply increase only through capital going into the protocol-owned market. In the case of NIRV, this happens when locking ANA as collateral. In the case of ANA, this happens by buying the token at the spot price, buying it at a discount with trANA contracts, or executing a prANA option.
prANA tokens, in distinction, are continuously emitted. They are rewarded to ANA stakers, and in the case of stakers who also borrow NIRV, they are re-routed to the Ecosystem Boost fund.
On a nearly continuous interval (on the order of minutes), new prANA tokens are minted and distributed to stakers. The amount of prANA emitted is proportional to the global supply of ANA. This scaling ratio of prANA emissions reduces the dilutive effect of introducing inexpensive ANA tokens into supply.