Nitro Bulletin #11
The last two weeks have provided a breath of fresh air to both the global crypto market and the Nitro Network community. Over this period, DeFi coins have enjoyed a well-needed price recovery, stock market indices have risen across the globe and Ethereum appreciated nearly 37% after network developers announced a concrete date for The Merge.
Similar to the wider crypto community, Nitro Network has also hit the ground running in the current bear market. This bulletin discusses developments throughout the last two weeks, which include a website revamp, the introduction of Nitro Network’s long-awaited IoT solutions and a town hall meeting that set the stage for the next six months.
Let’s get started!
Nitro Network’s new look
Following some strategic thinking, the Nitro Network team decided to revamp the entirety of its website. Among the most important features of this change were the improvements to user experience (UX) design and the emphasis on Non-Fungible Miners (NFMs).
Specifically, the website now:
- Places NFMs in the middle of the website, where all visitors can consider it as an investment opportunity and a colorful collectible.
- Provides newcomers direct avenues into the Nitro Network community via Join Discord, Connect Wallet and Enter Ecosystem buttons located on the main page.
- Improves UX by introducing a vertical sidebar, which removes website clutter and prioritizes navigation convenience and speed.
A recap of Nitro Network’s IoT solutions
Since the inception of Nitro Network, both in its white papers and subsequent articles, the team has mentioned how it will leverage IoT, LoRaWAN and 5G technologies to create a decentralized private communications network (PCN) with its token, NCash, at its heart.
Now, the Nitro Network team has applied these principles to solve management problems for three different business industries! Specifically, Nitro Network has applied its IoT solutions to:
- A poultry farm
- A residential complex with 700 units
- A cement factory
Applications of Nitro Network’s IoT solutions helped solve several managerial inefficiencies like excess waste and unnecessary overhead costs. An examination of the three case studies shows that the Nitro Network team managed to:
- Reduce electricity consumption by up to 30%.
- Cut manpower costs by up to 80% via automated operational efficiencies.
- Extend asset lifespan due to improved conditions created by IoT sensors.
The Nitro Network team looks to continue adding case studies of its successful solutions to its already impressive resume!
Key topics during Nitro Network’s town hall
On July 12, Nitro Network community manager hosted a town hall meeting on Discord, and it was a great success!
The meeting featured Nitro Network’s chief technical officer (CTO) Avinash “Avi” Pitti, who provided answers to questions regarding Nitro Network’s current and future operations.
Specifically, Mr. Pitti emphasized that:
- The Nitro Network team is constantly refining who gets precedence within a hexagon (1 square km area) to ensure a fair, consistent and optimal ranking system for the Nesting program.
- The Nitro Network team has clients who are helping with proof of concept for the newly deployed Nesting ION Miners, but more time will be needed to announce their names to the public.
- As a result of diminished NFM supply, the NFM rewards will be revised for all tiers, but these rewards could increase again based on the laws of supply and distribution.
- The Nitro Network team is working on updating more accurate information on the CoinGecko and CoinMarketCap websites, which will improve public sentiment.
One of the most important developments of the session came at the conclusion with the announcement that these town hall meetings will occur on a biweekly basis to ensure the community is better informed of important changes and developments.
Nitro Network will aim for different company executives for these Discord sessions, so definitely tune in for a chance to speak with the company’s leaders!
The path ahead
As part of the town hall above, affiliates of Nitro Network also said that they’re:
- Attempting to get NCash listed on centralized exchanges, while teasing that there may be an announcement regarding a listing on another decentralized exchange soon.
- Prioritizing the expansion of the network via onboarding and registering new Nesters in new locations around the world.
- Incentivizing people to register for the Phase 1 rollout of their Nesting devices, which are expected to be sent out later this month or early next month.
- Announcing a big update regarding the Nitro Network Explorer, which is a portal that will show the community all the Nesters, hexagons, grids and indicators, allowing Nesters to choose the most efficient Nesting locations relative to their location.
Cashback and incentives
As you all may know, Nitro Network strives to provide amazing incentives for all its community members. With that being said, the Nitro Network team would like to provide OG Genesis Node updates, as well as our monthly cashback updates for all the community members involved in these programs:
- 5% of the initial staking amount bonus was given to OG Genesis Node stakers as a bonus (who staked before February 15, 2022 and for at least 30 days) on July 15, 2022.
- Cashback quantities will be $45, $36 and $23 for batch 1, 2 and 3 respectively and will be distributed the first week of August.
Join the Nitro Network Discord to stay up to date with all the latest Nitro Network program updates!
A big thank you
The Nitro Network team would like to extend a huge thank you to its community members for their patience and participation in recent events.
Bear markets can be nerve-racking events, especially for investors and entrepreneurs in an up-and-coming space, and the Nitro Network team knows it’s not easy to manage emotions at this time.
Town hall meetings are a reminder that the Nitro Network team and its community are tied to a collective trust in what Nitro Network is trying to accomplish, and with this kind of unity, the project is far more likely to succeed!
Also, this recap is simply a curated summary of a much more comprehensive discussion. If one is interested in listening to the full town hall, please join the Nitro Network Discord, where every town hall is available for free playback in the Community Events channel. Thanks again for being a valued part of the Nitro Network community.
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!