2.2 - How nest Works
The full protocol flow, from trade execution to treasury accumulation.
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The full protocol flow, from trade execution to treasury accumulation.

nest brings together three groups with aligned incentives: Traders, Liquidity Providers, and Governance Participants. Each benefits when the protocol grows, creating a positive-sum system.
Each layer has one job and the magic is how they compound into a single flywheel.
LPs earn NEST emissions — not trading fees. This distinction is central to how nest functions as a MetaDEX.
Trading fees
veNEST holders
100% of swap fees, claimable from Dashboard
NEST emissions
LPs
Weekly NEST tokens, proportional to pool vote share
Bribes
veNEST voters
External tokens paid by protocols to attract votes
HYPE Engine
Protocol treasury / HEV holders
~40% of fees accumulate as MEGAHYPE
Assistance Fund
Protocol (NEST buybacks)
USDH revenue funds permanent buyback mechanism
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