The Genesis Phase
In Brief
The Genesis Phase marks the official launch of the Nami protocol.
It lasts 3 weeks and is designed to build the liquidity required for the DEX cold start, while simultaneously launching price discovery for NAMI and ogNAMI.
During this phase, users can provide liquidity to incentivized pools and accumulate Genesis Points, which convert into NAMI and veNAMI at the end of Genesis.
The third and final week of the Genesis Phase coincides with Epoch 0.
During this period, while users continue providing liquidity and accumulating points, veNAMI holders can vote to determine where the initial emissions are directed.
90% of the swap fees accumulated during the 3 weeks of Genesis are converted into USDC and deposited as voting incentives.
Once Genesis ends, Nami enters its operational cycle.
The liquidity already deposited automatically starts earning NAMI rewards, while the swap fees generated by the pools are distributed every epoch to veNAMI holders through the voting system.
Why It Exists
Most protocols arbitrarily decide how many emissions to distribute at launch and only later discover whether the market can support them.
Nami does the opposite: it builds the market before funding it.
Genesis is designed to collect real liquidity, generate volume, discover the price of NAMI, and determine where value is being generated.
Nami uses these signals to size the first emission - not a launch parameter, but the starting point of the protocol's monetary trajectory.
This allows Nami's economy to be calibrated to reality rather than built on an assumption.
Timeline
- DEX goes live
- Liquidity provision begins
- Genesis Points begin
- NAMI and ogNAMI price discovery
- Liquidity deepens
- Genesis Points keep growing
- Swap fees accumulate
- veNAMI voting directs the initial emissions
- 3 weeks of swap fees in USDC become voting rewards.
- Points remain active until Genesis close
- Genesis Points claim opens
- Normal protocol operations begin
- Emissions to LPs
- Fees distributed to veNAMI holders each epoch
conversion
Genesis Points
Points measure the contribution to the protocol's initial liquidity and determine the share of rewards allocated at the end of the phase.
They are non-transferable and have no standalone value.
How to Earn Them
The system exclusively rewards active, in-range liquidity.
Positions concentrated within narrower ranges earn more points than positions distributed across wider ranges.
Distribution
Points are distributed in real time and allocated weekly, with a specific cap for each pool.
This allows the team to adjust point allocations throughout the phase and direct liquidity toward pairs that require stronger incentives to complete the bootstrap.
The projected APR shown in the interface updates based on points distributed and the current NAMI price.
Conversion
At the end of Genesis, accumulated points are proportionally converted into NAMI and veNAMI and claimable during Epoch 1.
Users choose between two claim options:
Convert the NAMI portion to veNAMI and claim immediately, no cliff, no vesting.
Referral Program
The referral program rewards users who contribute to Nami’s initial liquidity by bringing other liquidity providers into Genesis.
Each user can generate and share a personal referral link. When participants join through that link, the referrer earns points equal to 10% of the Genesis Points they accumulate through liquidity provision. These points are awarded separately, so referred participants retain 100% of the points they earn.
Referral points accrue in real time alongside the activity of referred participants. At the end of Genesis, they are converted into veNAMI rewards.