Hello There! This is Genesis Node
It’s been a long time since I have spoken to you guys. Lots of questions have been floating regarding me. Let me clarify the same one by one.
Before that let me tell you some critical information about myself. Look at me as an entitlement given to the NCash holder who participates in the current Genesis Staking program and stakes their NCash for at least 30 days. Now, you must be thinking what is the benefit of this entitlement, right? Well, over the next 50 Years, Nitro Network is going to distribute billions of NCash tokens to the people with Genesis Node entitlement. Got you interested didn’t I?
To make things more clear, look at the graph below for the cumulative distribution of NCash over the next 50 years among the Genesis nodes only.
Now imagine the benefits you will be reaping for 50 years and only because you staked for at least 30 days between 15 Nov 2021 to 15 Feb 2022. I mean where will you get such a community-centric project! And don’t forget my dear friend,s that while staking you are also getting 150% APR* on the amount you stake on a pro-rata basis. That’s heartening to hear I know! Now let’s get on to answering some interesting questions I know you want to ask me. So here goes:
1. How do I become a Genesis Node?
So simple really. Just stake for at least 30 days between 15 Nov 2021 to 15 Feb 2022
2. Can an NCash holder apply for Genesis Node after Feb 15, 2022?
No. It’s a 3 month ( Nov 15, 2021, to Feb 15, 2022) window only to be a Genesis Node
3. Is the Genesis token a new token?
No. Only NCash is the native token of Nitro Network.
4. Are all NCash holders Genesis Nodes by default?
No. Only those who stake for at least 30 days within the specified date mentioned above
5. How do I stake?
Go to our staking portal. Follow our staking guide to stake NCash
6. What are the kinds of rewards I can get under this program?
There are two categories of rewards
- Special Genesis Staking Reward Program — If you are a current NCash holder and stake for the next 3 months (from 15th Nov to 15th Feb), you get a 150% APR. This is in addition to the Genesis reward.
2. Genesis Rewards for the next 50 years — If you are a current NCash holder and stake to become genesis node — you can keep earning rewards for the next 50 years!
7. Are there any specific dates for Genesis Stakinga and earn Genesis node entitlement, as in the starting and closing date
Yes. There is a specific time frame. Genesis Staking began on 15th November 2021 and will end by 15th February 2022. You will have to stake during the mentioned dates. This gives you 3 months to do it. At the time of writing this article, it’s 76 days now.
8. What will happen after Feb 15, 2022?
If you have staked for at least 30 days then you become a Genesis Node and are eligible for rewards for the next 50 years. In addition, you get a new NCash token automatically otherwise you will have to swap it manually using the swap function which will be released soon on the Nitro Network website.
9. What if I stake for less than 30 days?
Well, you will not be a Genesis Node but you will get your staking rewards for the number of days you have staked at 150% APR. But staking for at least 30 days is the key for you to earn rewards for years and be welcomed in my Genesis Node family :)
I hope I have addressed your concerns. I am happy to welcome you — the privileged NCash holder to join the Genesis Node family :).
Yours truly
Nitro Genesis Node
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