Nectar
NECT
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
NECT (Nectar) is an over-collateralized CDP stablecoin native to Beraborrow on Berachain. Three sections suffered from total source contamination due to name ambiguity and lacked sufficient project-specific data, receiving scores of -1.0: Active Development, Community Support, and Team and Governance. These were excluded from the weighted average calculation, with their weight redistributed among the remaining sections. Among the evaluated areas, Tokenomics (5.0/10) reflects a standard CDP mint/burn mechanism against collateral with no insider vesting cliffs, though collateral parameters remain unverified. Market and Use Case (3.5/10) highlights severely constrained adoption and thin liquidity, with 24-hour decentralized trading volume around $7,500. Security and Audit History (3.5/10) notes an absence of recognized third-party smart contract audits, poor automated scanner ratings (Grade E website security), and a minor live peg deviation (trading at ~$0.944). No qualifying red-flag events such as exploits, insolvencies, or regulatory actions were affirmatively established.
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 Nectar (NECT)
Nectar (NECT) is an over-collateralized collateralized debt position (CDP) stablecoin native to the Beraborrow protocol on Berachain. Operating as part of Berachain's Proof-of-Liquidity architecture, the token utilizes a mint-and-burn mechanism where users deposit approved collateral into protocol vaults, referred to as "Dens," to mint NECT at face value, with tokens burned upon 1:1 redemption.
Adoption and liquidity for NECT remain limited, with trading restricted to decentralized exchanges. The token maintains a small circulating supply of approximately 369,933 tokens and experiences constrained liquidity, reflected in 24-hour trading volumes of roughly $7,500.
Evaluation data highlights several risk factors, including the absence of verified third-party smart contract audits from recognized security firms. Automated third-party scanning tools have flagged weak security scores and poor website infrastructure ratings. Furthermore, NECT has demonstrated price deviations from its target value, observed trading at approximately $0.944, or roughly 5.6% below its $1.00 face value. No protocol exploits, insolvencies, or regulatory actions have been documented.