Welcome to the 18th issue of the Nitro Network Bulletin. Due to the bear market’s continued existence, this week has been another rollercoaster ride for cryptocurrency investors. The need for a proper regulatory framework in this sector has increased. Bitcoin’s value has moved by 1.21% during the previous few hours. It is currently at $13,69,153. Today, the market value of bitcoin is ~$26.3T. Future cryptocurrency leaders will be those with significant utility and use cases. As a result, in cryptocurrency, a focus on technology and business strategy has taken precedence. Nitro Network is also considering the current scenario and using it to create various products that will endure the test of time.
Nitro Network IoT Marketplace is live now
IoT is no different from how technology has evolved throughout history in that it has always offered answers to or solutions to societal problems.
The value of the global IoT market, which Fortune Business Insights estimated at $384.70 billion in 2021, is projected to rise to $2,465.26 billion by 2029 from 478.36 billion in 2022. The Internet of Things (IoT) uses software designed expressly to connect the seemingly immaterial Internet realm to our actual reality.
IoT holds out the promise of becoming environmentally benign and enhancing the quality of life by reducing waste and costs while boosting efficiency and productivity. This is a significant milestone for Nitro Network because we have always been drawn to technical developments that raise the standard of living for people. Early on, we saw just how vast the IoT market is and how it can affect every part of people’s lives, businesses, and the entire planet.
A linked ecosystem of products and services will be as easily accessible to people and businesses as Nitro’s IoT marketplace is already live. Now, people can access ready-to-use IoT products and services that will improve their quality of life. It is a one-stop shop that offers various types of sensors, including kits, gateways, environmental monitoring, residential and business sensors, and sensors for monitoring the ambient environment.
Moreover, there is currently a significant demand for the sensors accessible in the IoT market, such as Distance Detection Sensors, Ambience Monitoring Sensor, Water Leak Sensor, Ultrasonic Detector or Level Sensor, Sensor for Soil Moisture, Temperature, and Electrical Conductivity, and others.
The NCash burn is necessary since Nitro Network is constructing for the long run. NCash tokens in an amount corresponding to its monthly supply are permanently destroyed during the Burn event. It is a deflationary method designed to have a favourable impact on the value of NCash tokens and coins.
We are pleased to announce that Nitro Network completed its Fifth NCash burn in November, and 669,008,841.05 NCash tokens were removed from the ecosystem. Unused rewards made significant contributions; all unused Genesis Node Rewards have yet to be burnt. Later, there will be a communication with an update on the matter.
Here are the details of our latest burn:
● Total NCash burned in November: 669,008,841 NCash
● Approximate value in USD: ~ USD 29,884.23 (at the time of writing)
● Transaction IDs (TXID) for NCash burn: Transaction IDs (TXID) for NCash burn:
● NCash burn Dashboard: https://burn.nitro.network/
Note: November month mint will happen later, and details will be followed in the next bulletin article.
Pangolin Farm and Beefy Finance Vault update
The NCash-AVAX farm on Pangolin has $55.56k in available cash, and additionally, the NCash-AVAX super farm’s APR is currently at 100% plus.
The volume of the following is as mentioned below:
● NCash-AVAX is #16 on 7d vol on Pangolin.
● The pool gets 60 daily xs on average.
Considering Beefy Finance’s current APY of 150%+, the entire value of the staking pool is also $33,473. According to Nitro Network, there are currently 733,683,473 NCash tokens stored in the vault
To continue earning mouthwatering APY on NCash, we recommend everyone to stay using the vault and farm
Community Campaign: Ambassador Program Contest
We’ve started the Discord invite competition with a pool of 2,000,000 NCash. We encourage members of the nitro community to participate, invite their friends, and enter for a chance to win some valuable NCash. The following provides more details.
Reward Pool: 2,000,000 in NCash. Moreover, we are supercharged to announce a 50K NCash #GIVEAWAY to each of the four lucky winners in a GLEAM contest.
1. Period: 2 November 22 to 30 November 22
2. Join Discord to participate and win- https://discord.com/invite/8kQknUCFHs
Our Twitterspace session with Milesight on 18 Nov was cancelled due to a technical issue from our partner. The AMA with them will be rescheduled for next week. Stay tuned for the date and time by following our social media or joining our Discord server.
Don’t forget to avail our IoT Marketplace Launch offer
We want this to be the biggest thing ever as we launch. In addition, we’ll give you 50% cashback* in NCash on the first 100 orders placed on our IoT marketplace. You may also get our Nitro IoN Miner (also known as a LoRaWAN Gateway) for free when you place an order in our IoT Marketplace worth $200 or more.
What are you waiting for? Go and start your smart journey now!
*Terms and conditions for the launch cashback offer:
- The maximum cashback amount under the 50% launch offer is $200
- If you are an NFM holder, you will receive an absolute 50% cashback in NCash
- Offer is valid for first 100 orders only
- Beginning in March 2023, cashback will be distributed over five months and paid monthly
- As a basis for distributing cashback, NCash price will be taken as a 30-day average
- NCash cashback distribution will happen on wallets with the Avalanche network. (Details on the cashback process (claim or airdrop) will be announced later)
Thank you to everyone in the community.
There is always a strong community behind every successful initiative. And that’s been the case for us as well; a heartfelt thank you to everyone in the Nitro Network community worldwide. We want to express our gratitude to the entire Nitro community for their support thus far. We promise to keep you informed at every stage of our journey towards an ecosystem with limitless potential. We are grateful for the supportive community accompanying us along this route. Your help is greatly appreciated. In the coming days, we’ll reveal several innovative plans for growing our business and introducing new products that will benefit you all. Follow us on all our social media platforms to receive the most updated information! It can only get better, so stay tuned!
About Nitro Network:
Nitro Network brings affordable and secure IoT solutions for you. The company is building the largest decentralized private communication network (PCN) using the LoRaWAN IoT devices. These devices enable your gadgets to communicate using 3G/4G/5G technologies. This hyperconnected network will enable unlimited use cases in your 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!