Nitro Bulletin #13

5 min readAug 26, 2022

Welcome to the 13th Nitro Network Bulletin. This week in the crypto world, markets were dominated by large sell-offs across many assets, leading to quite a bearish mood. In spite of this, Nitro Network has remained vigilant and consistent in its technical developments and community efforts — with any luck, its effort will spur some excitement amid this time of market unrest.

With that said, let’s get into it! This issue will cover Nitro Network’s product launches for September, its upcoming NCash token burn, various community incentive initiatives and more.

Nitro Network’s plans for the near future

A new era of IoT solutions is coming. Nitro Network is focused on bringing out these new solutions to the world and reaching out to partners seeking assistance in the IoT space. The Nitro Network team has already begun deployment plans of smart grid solutions for regulating and monitoring electricity use on a city-wide scale.

Additionally, Nitro Network is preparing to announce several product updates in September, including the Nesting Heatmap and the Nitro Marketplace.

Nesting Platform Heatmap: This will provide Nester-related data in real-time, including Nitro ION Miner deployment progress, the number of units deployed, Nester density and more, all in an accessible and easy-to-use dashboard format.
Nitro Marketplace: There will be a plethora of new visual and functional updates, including a new user interface, NFM supply numbers and a surprise feature to ease the purchasing options for the entire community!

Discord giveaway contest is ongoing

In the spirit of providing community members with more of what they want, Nitro Network has a vast array of awesome programs and contests going on right now that are worthwhile to check out.

For starters, there is a Discord invite giveaway contest — Nitro Network is currently hosting two of these on its Discord server throughout August, and it’s very easy to join!

The first giveaway will provide three lucky participants with prizes like Tier 3 NFMs, matching NFM swag and up to 500,000 NCash! To be eligible for the prize drawing, users have to invite a minimum of five new members who successfully join the Nitro Network Discord server.
The second giveaway will provide the most active member on the Nitro Network Discord server with equally exciting rewards, including a Tier 2 NFM, a matching hoodie and up to 300,000 NCash!

These giveaway rewards will be distributed to qualifying participants on the Nitro Network Discord server on August 31. For those who have not yet become a member, now is an excellent time to join to learn more and get involved in the giveaway contests!

Update for 100% return whitelist campaign participants

Nitro Network ran a short-term campaign several months ago that promised 100% returns on NFM purchases. Nitro Network will honor this campaign and begin distributing rewards to all eligible participants. To be eligible, users had to:

Purchase an ICONIC NFM between June 1 and July 15, 2022.
Complete the necessary whitelist form.

For more information, please contact Nitro Network via ticket support via Discord or email. Starting in September 2022 first week, the company will distribute NCash rewards by airdropping them each month; ideally, this should take no longer than a year for everyone to receive their full 100% NCash returns.

Cashback and incentives

Similar to the Discord giveaway contest, Nitro Network’s campaign for OG Genesis Node members is still ongoing! Until the end of August, OG Genesis Nodes will be able to get 50% off any purchase by using the one-time promo code: GENESIS.

As a reminder, this includes all members that staked between November 15, 2021 and February 15, 2022. This code can be applied during checkout, but don’t delay as it will only last until August 31!

But the excitement doesn’t end there! Starting next month there is September cashback to look forward to, with cashback quantities of $45, $36 and $23 for Batches 1, 2 and 3 respectively.

Beefy NCash performance among DeFi operators

As noted in an earlier bulletin, the partnership between DeFi operator Beefy Finance and Nitro Network provides excellent upside potential for those involved. The past month’s performance has been, in a word, beefy.

Despite the NCash total value locked on Beefy Finance dropping to $70,000 — about the same amount as two months ago — its moving 30-day average shows a completely different story. At $93,000, compared to the $72,000 moving average at this time in July, there are very promising signs for a rebound and stellar future growth.

The main problem is not so much to do with NCash but rather the sentiment in the broader crypto market. If and when that market recovers, it should create greater demand and value for NCash across various DeFi platforms like Beefy Finance.

NCash token burning less than a week away

It’s that time again! For those with a vested interest in the long-term sustainability of Nitro Network, the NCash burn is one event to surely mark on the calendar.

The NCash token burn is a process whereby Nitro Network permanently destroys tokens proportional to its monthly supply. The goal is to increase NCash scarcity so as to increase the value of remaining NCash tokens.

The token burn event is scheduled for August 31. The exact amount of NCash to be burned will be announced at that time, but as a reminder, Nitro Network burned 45,000,000 NCash in July!

Nitro Network encourages community members to join the fun for the live event on its Discord server for this historic moment!

A big thank you to the community

Nitro Network continues to grow and evolve every day, propelled by the support of its community members. There may be a lull in the crypto market, but new, exciting developments are always happening within Nitro Network’s ecosystem.

Stay connected by joining the Nitro Network Discord — where one can get answers to any questions they may have and stay updated on all of Nitro Network’s exciting developments!

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!