Nil (NIL) is a hyper-deflationaryERC-20 token used as an incentive, to reward college athletes and social media influencers for promoting products and services. Hyper-deflationary tokens are cryptocurrency tokens that reduce over the course of time at a rapid pace. Nil aims to promote products and services and create brand awareness by rewarding college athletes with a significant social media presence.

Nil claims to be the firstcryptocurrency that rewards college athletes and influencers. According to the whitepaper, the core features of the token are: 

NIL serves as a utility token of the platform. Also, the token has a trade limit of 0.25% of the total circulating coins per transaction. 5% of each transaction is distributed back to NIL holders. Next, 5% is assigned for a liquidity pool and 5% for burning. Every transaction of NIL is taxed at 15%. Cryptocurrency burning occurs when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost forever. Hence, tokens are usually burnt to reduce availability and increase their market value.