Nitro Bulletin #5
The past few weeks have been action-packed for Nitro Network. With the launch of the highly anticipated NFM marketplace, we have an array of updates for the community. In this article, we’ll round up the progress on Nitro Network’s latest partnerships and cover all the details in between.
Read along to learn about the many new advancements of the network.
The Nitro Network NFM Marketplace is live
The Nitro Network NFM marketplace went live on April 7, 2022. It is home to the Nitro Network Non-Fungible Miner (NFM), a unique innovation set to revolutionize Web3. NFMs combine the infinite power of DeFi and NFTs by allowing users to digitally mine Nitro Network’s native token, NCash, from anywhere in the world. NFMs eliminate all the hassles of traditional crypto mining, and the best part is that there is no limit to how many NFMs a user can purchase!
To learn more about NFMs, visit the Nitro Network NFM marketplace today.
Partnership with NFTrade
Nitro Network recently partnered with NFTrade, one of the biggest marketplaces on the Avalanche blockchain. The partnership with NFTrade will drive more value for NFMs as the trade volume of the platform increases.
What is NFTrade?
NFTrade is a decentralized platform that unifies all blockchains and NFTs into one easy-to-navigate ecosystem. Here is a brief rundown of NFTrade’s features:
- NFT launchpad: This allows for all users to easily create a fully decentralized NFT collection without the common hassles that exist today, like creating smart contracts. This is achieved by NFTrade’s drag and drop functionalities.
- Trade: NFTrade allows for users to seamlessly buy and sell NFTs from various blockchains. The best part is that there are currently no transaction fees!
- Swap: Within NFTrade’s secure escrow environment, users are able to easily swap NFTs with other users that have NFTs on the same blockchain. On top of that, a “blue check” verification badge similar to those used on Twitter, is applied to select projects to ensure authenticity.
- Farm: This feature enables users to stake their desired tokens across multiple projects and in return earn rewards in the form of NFTs!
In the last 30 days, the trading volume of NFTrade has increased 80% for a total of $15M traded! This partnership spells big things for NFTrade and Nitro Network, as both communities grow exponentially.
Don’t miss out on all the game-changing features of NFTrade, secure your Nitro Bot NFM today!
Whitepaper and Litepaper — The blueprint of Nitro Network’s vision
Nitro Network has revamped its whitepaper to make it more exciting, accurate and easier to understand. Following Nitro Network’s new website remodel, the team has updated the graphics, which is sure to draw in newcomers and previous users alike. We want everyone to feel right at home while reading all about our cutting-edge solutions. Anyone interested in blockchain will be able to understand Nitro Network’s overall vision while having a great time going through the graphics.
The whitepaper touches on topics such as transparency, Smart Cities, Internet-of-Things, mining, NFMs, nesting, NCash and more. Here is a brief rundown of what one can read in Nitro Network’s whitepaper:
- Transparency: How trust is built between users and businesses
- Smart Cities: Cities where all things are interconnected with sensors and autonomous technology
- Internet of Things, LoRaWAN, 5G: Nitro Network’s ecosystem and how it’s powered
- Mining and NFMs: We provide all the updated rewards of Nitro Bot NFMs
- Nesting: Showing how users can host and what the rewards are
- NCash: Nitro Network’s native token, its utility, tokenomics and value projection
As the whitepaper says: “It’s time for the people to take control of their data back from the few large conglomerates that profit off of end-users.” The documents show how Nitro Network plans to do exactly that. Our overall vision is clear, detailed and pops right off the page.
Read the entirety of the whitepaper and litepaper on our website!
More rewards for NFM holders
Nitro Network has decided to give NFM holders a major boost. Those who hold Tier 2 NFMs will receive significantly more NCash. What was once 52.05 NCash per EPOCH has now been increased to 80 NCash! The team decided that the community deserved higher rewards for its continued dedication to the ecosystem.
Tier 2 NFM holders will receive significantly higher yields as they participate on the network. An EPOCH is a period of 30 minutes on the Nitro Network, meaning a massive increase every half hour for those who have already purchased Tier 2 NFMs. This is just a small way of Nitro Network saying thank you to the community.
Considering how fast Tier 1 NFMs have sold out, it won’t be long before these limited Tier 2 collectibles with mining utility sell out, given their recent increase in rewards. Again, those who want to secure Tier 2 NFMs for their dual value should act fast.
Genesis staking updates
As previously mentioned in our Genesis staking updates Medium article, the 150% APY staking window has closed and all stakers will now receive 90% APY. With all rewards being distributed in the form of AVAX-native NCash, it’s as simple as connecting your wallet to the website while you sit back and earn rewards!
If you hold the original ERC-20-native NCash, you can easily convert the tokens to the AVAX-native$NCash by using the Nitro Network Swap Portal.
With the recent updates, users will soon be able to buy NFMs with NCash. So those who have been stacking their NCash will now be able to add more NFMs to their collection.
As the protocol evolves, so will NCash and its numerous possibilities. Watch out for more updates as the ecosystem continues to develop.
Major cashback updates
Three batches of NFM preorders ⚒️
For all those who pre ordered Tier 1 NFMs in the past (when Tier 1 NFMs were priced at $450), you have been placed into a “batch” or group depending on what the pre order amount was that you paid. We have divided this into three batches, please take a look below to determine which batch you are placed in:
Batch 1: Those who pre ordered for $50
Batch 2: Those who pre ordered for $75
Batch 3: Those who pre ordered for $100
Apart from earning rewards via mining, each batch will provide a percentage of cashback based on the total price of the tier 1 miner at the time — $450. Please take a look below to see the cashback percentage breakdown by batch:
Batch 1: 100% cashback (rewarded in NCash)
Batch 2: 80% cashback (rewarded in NCash)
Batch 3: 50% cashback (rewarded in NCash)
For example, if you happen to be placed in batch 1, you will receive $450 worth of NCash, batch 2 and 3 follow accordingly.
Moreover, please take note that for all batch 3 preorders, the last day to complete the full payment will be April 30.
NCash distribution 💰
Firstly, we encourage everyone to make sure that your MetaMask wallet is connected to your Nitro Network account — Along with rewards from mining, all cashback rewards will be distributed to the MetaMask wallet that is connected to your Nitro Network account.
Moreover, all users should access the “My Activity” tab in their account to view their full transaction history. This tab will show all the rewards that have been distributed to you, along with a transaction ID.
Cashback rewards will be distributed over the course of 9 months. This will ensure that the token price of NCash maintains a healthy and stable amount. With that being said, Nitro Network will be announcing the amount of rewards that are to be distributed in the final bulletin of each month. This bulletin will provide the amount of rewards that is to be distributed on the 1st of the upcoming month.
Example: The bulletin that is to be released on May 27, 2022 will provide the amount of rewards that are to be distributed on June 1, 2022.
Purchase NFMs with NCash
Nitro Network is now providing users with the ability to purchase NFMs with NCash! Apart from adding another layer of utility to Nitro Network’s native token, users who purchase a NFM with NCash will receive a 15% discount. As Nitro Network grows, so will the utility and functionality of NCash!
Nitro Network would like to extend a big thank you to all of our community members! We want to reiterate that we are here for you every step of the way. If you have any questions, please submit a ticket in our Discord and a community manager will help you, thank you!
About Nitro Network
Nitro Network is building the largest decentralized private communication network 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’s decentralized PCN are part of an inclusive ecosystem that they own, operate and earn from. Nitro’s PCN will be a game-changer and has its proprietary token, NCash, at its core. On Nitro Network, everybody wins!
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Disclaimer: This is not investment advice. Please do your own research before investing in any avenue. The information contained in this post is for informational purposes only. You should take independent advice from a professional or independently research and verify any information that you find in this post and wish to rely on, for the purpose of making any decision. Through this post, you may be able to link to other websites which are not under the control of Nitro Network. We have no control over the nature, content, and activity on those sites. The inclusion of any links does not imply a recommendation or endorsement of the other website, its products, or views.