An exciting October 2021 for Nitro Network
Summary of announcements
What a month it has been, and we have loved having you, our community, closely following our plans and announcements. CoinAgenda gave us the right platform to take our aggressive growth strategies further with our Chairman Abhishek Pitti(@abhi_nucleus) articulating Nitro Network’s growth strategy for the coming months.
We know that you have a lot of questions and clarifications in relation to the series of announcements. To facilitate a better understanding of our plans, here is a summary of the list of announcements made by Nitro Network so far:
1. Nitro Network Miner Program: We announced our highly incentivized miner program and shared details about how the community can start building their hotspots on the Nitro Network and earn effortlessly for a lifetime. We also provided details of a series of rewards under this program — 100% cashback for the first 1000 miners, data network rewards, and even a 187%APR on staking (miner purchase + data network rewards). Read more here Pre-sign up for the Nitro ION Miner here
2. Rewards for becoming a Nitro Network Genesis Node: We announced a bunch of rewards for those who become Genesis Nodes on the Nitro Network. This includes rewards for Genesis Nodes for the next 50 years, special Staking rewards with an APR of 150% (in addition to the other Genesis rewards and the two types of Nitro Network communities who can benefit from these rewards. The categories include (i) Genesis Nodes who staked their token (NCash) within the specified window (ii) Non-Genesis Nodes who did not stake and who will be required to swap their token to a new token using Nitro Network’s platform (iii) Those who do not receive Genesis Node rewards but are eligible for staking and get a 90% APR.
We also announced the timeline and dates for staking and claiming these rewards.
Read more here
3. Partnership with Avalanche: Our partnership with Avalanche marks a significant milestone in our growth story. Avalanche is ranked among the top 15 platforms for creating custom blockchain and dapps. This move will help us accelerate our growth agenda with Avalanche offering greater scalability, higher TPAs, and higher security threshold. Read more here
4. Community Rewards: While on our agenda of unlocking a $3 trillion market opportunity, we are always focused on keeping the community at the center of all our incentive and rewards programs. We released a PR on mainline media about Nitro Network’s community rewards agenda worth billions of tokens which was based on our new token economics model divided into 3 major categories (i) Infrastructure (ii) Data network (iii) Current NCash holders. Giving further impetus to our community rewards were a series of strategic moves including a partnership with Avalanche, our miner program, Genesis Node program, and Liquidity & Staking rewards. Read the PR article here
5. Rebranding: We rebranded ourselves as Nitro Network and announced our change in identity as a strategic move in line with our next phase of growth. The timing was apt since it reflected our shift from a retail focus to a much wider telecom focus while building decentralized private networks of the future. Bigger market opportunities, a new token economics model, robust product and solution offerings were determining factors for the change in our name. Read more here
6. Liquidity Pool Incentive: We are offering a 100% APR for liquidity providers under our Liquidity Pool incentive. More details on this soon so stand by for updates!
7. New Token Economics: We announced our new token economics model, a significant step in the aggressive strategy we have mapped for ourselves in the coming months. This new model is in line with our mandate of creating a decentralized private telecom network with NCash at the core, enabling a highly incentivized and reward system for the community and driving usage and value for Ncash. Our new model is based on the model of our successful competitor Helium having adopted Helium’s Mint and Burn equilibrium (MBE) strategy that offers several advantages. Read more here
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About Nitro Network (formerly Nucleus Vision)
At Nitro Network, we are building a world of private communication networks powered by IoT together with LoRaWAN/3G/4G and 5G. This hyperconnected world is the IoT alternative to cellular networks unlocking a $3 trillion market opportunity. We believe our decentralized private telecom network is a gamechanger built on a blockchain with our proprietary token NCash at the core that drives utility and value from unlimited use cases. We are creating an inclusive ecosystem incentivizing users to own, operate and earn from the private networks of the future.
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