Price Discovery

Two assets, one launch playbook: onchain price discovery, single-sided liquidity, and Anti-Snipe protection.

The price is determined by the market and real demand.

The Launch Playbook

The NAMI/ETH and ogNAMI/ETH pools initially launch with single-sided liquidity.

The positions contain only NAMI or ogNAMI, while the ETH side is built progressively through purchases.

Liquidity is distributed across a sequence of concentrated ranges positioned above each asset's initial reference price.

NAMI price discovery begins on Base through the NAMI/ETH pool.A total of 150,000 NAMI is allocated to launch liquidity across Base, Ethereum, and Robinhood.NAMI launches on Base first, pools on other chains are initialized using the price discovered on Base.During this phase, the only NAMI available to the market is the supply deposited into the active launch curve.

NAMI Launch Parameters

The Initial TGE Allocation includes 236,000 liquid NAMI and 964,000 NAMI converted into veNAMI.Of the 236,000 liquid NAMI, 150,000 are allocated to launch liquidity, while the remaining 86,000 remain unavailable during price discovery.The NAMI used to create the 964,000 veNAMI is burned and removed from the liquid supply.

ogNAMI price discovery takes place on Base through the ogNAMI/ETH pool.Initial liquidity consists of 30,000 ogNAMI distributed across concentrated ranges above the $10.00 initial reference price.The 200,000 ogNAMI purchased during the presale remain staked and cannot be transferred or sold throughout the entire Genesis Phase.At the end of Genesis, they begin unlocking gradually through a linear unvesting schedule lasting at least 12 epochs.

ogNAMI Launch Parameters

The Launch Curve

Launch liquidity is organized as a sequence of concentrated positions beginning at the initial reference price.

Each range initially contains only NAMI or ogNAMI.

As purchases move through a range, the token is progressively converted into ETH, and the price advances toward the next level.

The ETH collected remains in the ranges already crossed, creating depth below the current price.

As long as the Genesis structure remains active, the protocol provides liquidity from the initial reference price and throughout the portion of the curve reached by the market.

Anti-Snipe Protection

In the first blocks following a launch, sniper bots can use automated systems to buy before regular users and concentrate a significant share of the supply at the initial price.

To counter this, toxic form of extraction, the pool opening is protected by the Anti-Snipe module developed by the Nami team.

Purchases remain blocked until the official launch, marked by a public countdown.

At launch, an initial 500% fee is applied and decays linearly to 0% during the first 30 minutes of trading.

Users can buy at any point along the curve, choosing the fee level they are willing to pay.

The configuration is frozen at launch and remains immutable throughout the entire Anti-Snipe window.

Additional fees collected are sent to the Recursive Buyback Engine.

Anti-Snipe Fee Curve: purchases unlock at launch. The fee starts at 500% at Launch and decays linearly down to 0% over the 30 minutes following launch.

Genesis Swap Fee Distribution

Swap fees generated during Genesis fuel Nami's first economic cycle.

90% goes to Epoch 0 voting incentives, converted into USDC. 10% goes to ogNAMI stakers.

The activity generated during Genesis funds the protocol's first voting market and begins distributing value from launch.

From Price Discovery to the Market

During the final hours of Genesis, before Epoch 1 begins, the single-sided positions are rebalanced and liquidity is rebuilt around the prices reached by the market.

For NAMI, the ETH collected on Base is combined with the presale capital allocated to liquidity.

The new position is distributed above and below the closing price, creating depth in both directions before emissions begin.

The NAMI/ETH pools on Ethereum and Robinhood are then initialized using the price discovered on Base.

The ogNAMI/ETH pool follows the same process on Base.

The ETH collected and the capital allocated to ogNAMI liquidity are repositioned around the price reached before unvesting begins.

From Epoch 1 onward, gauges, voting, and emissions guide the evolution of protocol liquidity.

Transparency and Custody

All launch positions are owned by the protocol.

Ranges, deposited liquidity, conversions, collected ETH, and fee movements remain publicly verifiable onchain.