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*All Inputs in Blue all Calculations in Black only manipulate inputs or the model will blow up
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NAV Coin Valuation Model
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xSupplyStep Function
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2018E2019E2020E2021E2022E2023E2024E2025E2026E2027E
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Total NAV in Circulation (End of Year)62,039,099 63,528,037 65,815,047 66,868,087 67,937,977 69,024,984 70,129,384 71,251,454 72,391,478 73,549,741
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Held for Investment or Staking %60% 60% 90% 40% 40% 40% 40% 40% 40% 40%
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Held as Working Capital %40% 40% 10% 60% 60% 60% 60% 60% 60% 60%
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Staking Reward %4% 4% 4% 4% 4% 4% 4% 4% 4% 4%
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NAV Available for Transactions24,815,640 25,411,215 6,581,505 40,120,852 40,762,786 41,414,991 42,077,631 42,750,873 43,434,887 44,129,845
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xDemand
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$ Billion
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2018E2019E2020E2021E2022E2023E2024E2025E2026E2027E
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New Zealand GDP in ($USD)$1.85 $1.85 $1.85 $1.85 $1.85 $1.85 $1.85 $1.85 $1.85 $1.85
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NZ Consumer Spending $$1.23 $1.23 $1.23 $1.23 $1.23 $1.23 $1.23 $1.23 $1.23 $1.23
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Online Payments$2,281 $2,624 $2,938 $3,291 $3,686 $4,128 $4,624 $5,178 $5,800 $6,496
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Remittances$504 $529 $555 $583 $612 $643 $675 $709 $744 $781
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Micro Transactions$625 $656 $689 $724 $760 $798 $838 $880 $924 $970
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Unbanked$4,704 $4,845 $4,991 $5,140 $5,295 $5,453 $5,617 $5,786 $5,959 $6,138
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Private Transactions$437 $450 $464 $478 $492 $507 $522 $538 $554 $570
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Other$1,829 $1,829 $1,829 $1,829 $1,829 $1,829 $1,829 $1,829 $1,829 $1,829
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Growth Rates
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NZ Consumer Spending %67% 67% 67% 67% 67% 67% 67% 67% 67% 67%
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Online Payments--15% 12% 12% 12% 12% 12% 12% 12% 12%
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Remittances--5% 5% 5% 5% 5% 5% 5% 5% 5%
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Micro Transactions--5% 5% 5% 5% 5% 5% 5% 5% 5%
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Unbanked Other--3% 3% 3% 3% 3% 3% 3% 3% 3%
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Private Transactions--3% 3% 3% 3% 3% 3% 3% 3% 3%
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Other--0% 0% 0% 0% 0% 0% 0% 0% 0%
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NAV Coin Share
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NZ Consumer Spending0.1% 0.1% 0.1% 0.1% 0.2% 0.2% 0.3% 0.3% 0.4% 0.5%
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Online Payments0.0001% 0.0001% 0.00011% 0.00011% 0.00011% 0.00012% 0.00012% 0.00013% 0.00013% 0.00014%
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Remmittances0.0001% 0.0001% 0.00011% 0.00011% 0.00011% 0.00012% 0.00012% 0.00013% 0.00013% 0.00014%
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Micro Transactions0.0001% 0.0001% 0.00011% 0.00011% 0.00011% 0.00012% 0.00012% 0.00013% 0.00013% 0.00014%
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Unbanked0.00001% 0.00001% 0.00001% 0.00001% 0.00001% 0.00001% 0.00001% 0.00001% 0.00001% 0.00001%
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Private Transactions0.01% 0.011% 0.012% 0.014% 0.017% 0.021% 0.027% 0.033% 0.042% 0.052%
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Other0.0001% 0.0001% 0.0001% 0.00011% 0.00011% 0.00011% 0.00011% 0.00012% 0.00012% 0.00012%
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NAV Coin Share Growth Rates
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NZ Consumer Spending--7.50%10.00%15.00%25.00%25.00%25.00%25.00%25.00%25.00%
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Online Payments--3.00%3.15%3.31%3.47%3.65%3.83%4.02%4.22%4.43%5%
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Remmittances--3.00%3.15%3.31%3.47%3.65%3.83%4.02%4.22%4.43%5%
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Micro Transactions--3.00%3.15%3.31%3.47%3.65%3.83%4.02%4.22%4.43%5%
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Unbanked--2.00%2.10%2.21%2.32%2.43%2.55%2.68%2.81%2.95%5%
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Private Transactions--7.50%10.00%15.00%25.00%25.00%25.00%25.00%25.00%25.00%
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Other--2.00%2.10%2.21%2.32%2.43%2.55%2.68%2.81%2.95%5%
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Capacity Supported by NAV Coin
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NZ Consumer Spending$1,233,333 $1,325,833 $1,458,417 $1,677,179 $2,096,474 $2,620,592 $3,275,741 $4,094,676 $5,118,345 $6,397,931
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Online Payments$2,281,313 $2,702,215 $3,121,815 $3,612,077 $4,186,022 $4,859,306 $5,650,805 $6,583,341 $7,684,593 $8,988,227
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Remittances$503,567 $544,608 $589,851 $639,828 $695,151 $756,525 $824,766 $900,820 $985,788 $1,080,956
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Micro Transactions$625,118 $676,065 $732,229 $794,269 $862,946 $939,134 $1,023,847 $1,118,259 $1,223,737 $1,341,877
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Unbanked$470,419 $494,222 $519,739 $547,135 $576,597 $608,332 $642,576 $679,592 $719,679 $763,173
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Private Transactions$43,709,080 $48,396,879 $54,833,664 $64,950,475 $83,623,736 $107,665,560 $138,619,409 $178,472,489 $229,783,329 $295,846,037
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Other $1,829,000 $1,865,580 $1,904,757 $1,946,757 $1,991,829 $2,040,251 $2,092,330 $2,148,408 $2,208,869 $2,274,139
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Total$50,651,829 $56,005,401 $63,160,470 $74,167,720 $94,032,755 $119,489,701 $152,129,472 $193,997,585 $247,724,340 $316,692,339
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Assumed Annual Velocity
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NZ Consumer Spending12 12 12 12 12 12 12 12 12 12
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Online Payments12 12 12 12 12 12 12 12 12 12
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Remittances12 12 12 12 12 12 12 12 12 12
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Micro Transactions12 12 12 12 12 12 12 12 12 12
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Unbanked6 6 6 6 6 6 6 6 6 6
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Private Transactions6 6 6 6 6 6 6 6 6 6
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Other6 6 6 6 6 6 6 6 6 6
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NAV Coin Monetary Base Required
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NZ Consumer Spending$14,800,000 $15,910,000 $17,501,000 $20,126,150 $25,157,688 $31,447,109 $39,308,887 $49,136,108 $61,420,135 $76,775,169
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Online Payments$27,375,750 $32,426,576 $37,461,775 $43,344,922 $50,232,265 $58,311,673 $67,809,657 $79,000,096 $92,215,119 $107,858,722
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Remittances$6,042,803 $6,535,291 $7,078,210 $7,677,938 $8,341,812 $9,078,298 $9,897,187 $10,809,836 $11,829,459 $12,971,474
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Micro Transactions$7,501,410 $8,112,775 $8,786,744 $9,531,234 $10,355,353 $11,269,611 $12,286,163 $13,419,107 $14,684,846 $16,102,519
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Unbanked$2,822,514 $2,965,333 $3,118,433 $3,282,810 $3,459,580 $3,649,994 $3,855,457 $4,077,554 $4,318,074 $4,579,039
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Private Transactions$262,254,480 $290,381,273 $329,001,982 $389,702,848 $501,742,417 $645,993,362 $831,716,453 $1,070,834,933 $1,378,699,977 $1,775,076,220
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Other$10,974,000 $11,193,480 $11,428,543 $11,680,542 $11,950,976 $12,241,506 $12,553,978 $12,890,449 $13,253,212 $13,644,832
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Total NAV Monetary Base Required$331,770,956 $367,524,728 $414,376,687 $485,346,444 $611,240,091 $771,991,553 $977,427,781 $1,240,168,083 $1,576,420,822 $2,007,007,976
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xValuation
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NAV Monetary Base Required /
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NAV Available for Transactions$13.37 $14.46 $62.96 $12.10 $15.00 $18.64 $23.23 $29.01 $36.29 $45.48
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NAV Price$0.80 8/22/2025
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PV $USD/NAV$1.57
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Discount Rate40%
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Implied Upisde/(Downside)97%
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NAV Coin Annual Transaction Volume$388,695,050
Source coinmarketcap YTD transaction volume
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NAV Coin Tx Volume Allocated for WC$155,478,020
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