Generating NCash With Nitro Network
As valuations across the crypto industry plummet, investors are considering a number of defensive maneuvers to protect their holdings. For some, defense means selling their losing positions and moving on to the next big thing. For long-term investors and true crypto believers, alternative routes are being considered.
Following Warren Buffet’s mantra: “Be greedy when others are fearful,” many crypto HODLers have doubled down on their investments. Three weeks ago, Glassnode reported that more than 250,000 addresses have added 0.1 Bitcoin (BTC) or more to their holdings over the past 20 days. Additionally, the bear market has seen 13,000 new wholecoiners, a wallet that contains one or more BTC, added to the Bitcoin network.
Regardless of which end of the spectrum investors may find themselves, Nitro Network has created a robust infrastructure for investors to actively apply their defense mechanisms. Specifically, the Nitro Network team has provided investors with several pathways to increase and leverage their NCash holdings.
NCash via NFMs
As a community powered by technological innovations like Internet of Things (IoT) and LoRaWAN (long-range, wide-area networks), it’s only fitting that Nitro Network’s own Non-Fungible Miners (NFMs) imbue a sense of novelty and distinctiveness. As a twist to traditional NFTs, these NFMs have not only allowed participants to passively generate NCash, but also given them access to Nitro Network’s private communication network (PCN).
By holding and staking NFMs, Nitro Network community members are able to receive NCash rewards every 30 minutes! Those thinking about joining the movement will find the process incredibly simple. Just choose a tier, mint the NFM and let the robots do the rest.
NFMs have maintained popularity with the Nitro Network community despite the bearish market conditions. In fact, Nitro Network reports over 2200+ NFMs have been staked by Nitro Network participants and 72 more have been earned through farming.
To reward the community for its continued loyalty, Nitro Network has secured partnerships with external businesses that have allowed it to generate even more revenue opportunities for its community members — more information on these partnerships to come.
Earning NCash via staking, farming and nesting
Pangolin’s Super Farm, for example, has reaped an APR of over 300%, giving rise to an NCash liquidity pool holding 476 million tokens valued at over $100,000. Similarly, NCash stakers using the Beefy Finance protocol have reaped an APY of over 1,500%, taking the total value of the staking pool to over $60,000! Finally, NCash stakers using the NFTrade platform, another Nitro Network partner, have reportedly staked upto 132million NCash tokens and farmed 70+ NFMs.
Providing further inroads for NCash generation is Nitro Network’s recently launched Nesting program. Following a simple verification process and the installation of a Nitro ION Miner, approved Nitro Network Nesters have converted their homes into Nesting locations, propagating the Nitro Network PCN to their community.
Depending on location, Nesters have been allocated a pool NCash, which can be redeemed as rewards. For Nesters in Tier 1 cities, for example, Nitro Network has allocated a pool of 181,108 NCash per EPOCH (30-minute cycle) for the first 1000 Nesters. The potential for passive income generation has placed over 4,300 Nesting registrants in the hands of Nitro Network members in the United States and India — a fact the Nitro Network team is very proud to report.
NCash for the future
With plans to expand DeFi partnerships and fortify token utilities, the Nitro Network team looks to continue adding value to its PCN, and by default to its native token, NCash.
Recent reports of NCash staking, NFM farming and deployment of Nesting devices have demonstrated the loyalty of our tight-knit community and of Nitro Network’s ethos to create value for others. While the team understands that investors have their own preference for dealing with bear market activities, nonetheless, it has highlighted avenues through which HODLers and long-term believers may fortify their NCash holdings.
Coming next on Medium: The Nitro Network team deploys an IoT solution for a cluster of 700 residential apartments. Make sure to follow Nitro Network on all social platforms to stay current with its further developments. Thank you!
About Nitro Network
Nitro Network is building the largest decentralized private communication network (PCN) powered by IoT combined with LoRaWAN and 3G/4G/5G. This hyperconnected world will enable unlimited use cases in our everyday life. Participants of Nitro Network’s decentralized PCN are part of an inclusive ecosystem that they own, operate and earn from. Nitro Network’s PCN will be a game-changer and has its proprietary token, NCash, at its core. On Nitro Network, everybody wins!