Burn

The Floor Contract starts with 90% of the minting proceeds as its initial capital. Every NIV can be redeemed for nUSD at the floor price.

Since the Floor Contract continuously receives 25% of the protocol’s revenue and NIV supply decreases over time through burns, the floor price steadily increases.

Burning your NIV for nUSD is simple. Go to the Mint page, select "BURN," enter the amount of NIV you want to burn, and preview the nUSD you'll receive. Then, just click the button to complete the process.