Nirvana ANA
ANA
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Nirvana ANA (ANA) on Solana is evaluated across available section data, noting an insufficient data gap in Active Development due to a lack of protocol-specific development sources. The protocol suffered two severe flash-loan exploits: 'On July 28, 2022, a flash loan exploit by Shakeeb Ahmed netted ~$3.57M in profit with protocol losses over ~$10M, causing an 85-90% collapse in ANA's price' and 'On June 22, 2023, a second flash loan attack drained ~$3M from the protocol.' Cumulative losses exceed $13M+, leading to the permanent depeg of its companion stablecoin NIRV and leaving the protocol in a near-dormant state. Market liquidity is practically non-existent with near-zero 24-hour trading volume, team leadership is anonymous without public decentralized governance records, and audit coverage is completely absent (CertiK CCC rating of 53.31).
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Nirvana ANA (ANA)
Nirvana ANA (ANA) is the reserve-currency token of Nirvana Finance, an adaptive yield protocol operating on the Solana blockchain. The protocol was designed around a mint and redeem system known as the Assured Value Machine (AVM), where minting ANA directs assets to protocol reserves to support a rising floor price, and redeeming burns ANA for USDC. Within the protocol's mechanics, ANA serves as the reserve backing for the native NIRV stablecoin, acts as collateral for zero-interest borrowing, and can be staked to earn prANA for governance rights and protocol revenue distribution.
The protocol has suffered two major flash loan exploits resulting in cumulative losses exceeding $13 million. On July 28, 2022, an attacker named Shakeeb Ahmed executed a flash loan exploit netting approximately $3.57 million in profit with protocol losses exceeding $10 million, which caused an 85% to 90% collapse in the price of ANA and led to the depeg of the NIRV stablecoin. This incident resulted in the first criminal prosecution of a decentralized finance hack (United States v. Shakeeb Ahmed in the Southern District of New York), leading to a guilty plea and the return of stolen funds to Nirvana Finance in June 2024. On June 22, 2023, the protocol suffered a second flash loan attack that drained an additional $3 million to $3.5 million.
Nirvana Finance is managed by an anonymous or pseudonymous team with no external third-party security audits or verified decentralized governance infrastructure. Following the security breaches, the protocol's total value locked dropped significantly, leaving the project in a near-dormant state with minimal community activity and negligible daily trading volume.