Nitro Bulletin #6
Nitro Network is growing by leaps and bounds as we expand our ecosystem offerings. With the genesis staking program going live and more utility unfolding for Non-Fungible Miner (NFM) holders, there is plenty to summarize, including some recent milestones and initiatives, in this Nitro Network bulletin.
Buckle up, we’re going Nitro!
NFM staking is live on Nitro Network
Just weeks after the NFM marketplace went live, Nitro Network proudly announced the deployment of rewards for NFM staking. In this staking program, NFM holders can stake their Nitro Bot NFMs and earn massive rewards — the best part is that rewards are given to users every 30 minutes! Moreover, users can claim their NCash rewards at any time and have the ability to seamlessly stake NCash to earn even more rewards.
To participate in the NFM staking program and earn rewards in the form of Avalanche-based NCash, visit the Nitro Network website today!
Please note that the last date to complete the payment for pre-orders to receive cashback has been pushed forward to May 15, 2022. So make sure you complete your purchase before that to receive cashback in NCash.
Moreover, our Genesis Node Portal date has also been pushed forward due to extreme market conditions. Therefore, the next launch date will be announced shortly. As the Genesis Node Reward is allocated from the Team and Investors’ segment and is a phenomenon associated with every mint cycle, Genesis Nodes will not lose any rewards. They will continue to get rewarded with every mint cycle for the next 50 years!
Nitro Network’s Burn and Mint Equilibrium model
With a transparent and community-centered ethos in mind, Nitro Network has carefully designed the Burn and Mint Equilibrium (BME) model to sustain the value of NCash for its community. Essentially, Nitro Network’s BME model is composed of two different token categories: value-seeking tokens and payment-seeking tokens. Although these two types of tokens are in different categories, there is interdependency between them. Let’s look at the purpose of each type of token:
- Value-seeking tokens: The only purpose of these tokens is to be burned. Once burned, these tokens turn into payment-seeking tokens.
- Payment-seeking tokens: The purpose of these tokens is for participants to utilize services on the Nitro Network, such as engaging with smart devices.
Now that we’ve explained the fundamental difference of the tokens, let us reiterate how they will operate in unison. Once value-seeking tokens have been burned, payment-seeking tokens are provided in their absence. With payment-seeking tokens, users may take advantage of the various applications and functions on the Nitro Network, such as engaging with smart devices. One important factor to keep in mind is that payment-seeking tokens are not used for peer-to-peer transactions. Rather, they are only used to acquire services on Nitro Network. Click here to read more about Nitro Network’s BME model.
Pay with NCash and get 15% off
Even more utility has been added to NCash — all users may now purchase NFMs with NCash to receive a 15% discount! Nitro Network has created a loop of earning rewards, which allows all users to maximize their NCash earnings seamlessly.
Here is an example: A user purchases an NFM that earns NCash every 30 minutes. The user then stakes their NCash which yields an additional 90% APY. Then, the user can purchase another NFM with the NCash they earned as rewards and receive a discount. The cycle of earnings then repeats itself!
Partnerships amping up the network
Nitro Network has recently partnered with an impact-driven 5G telecommunications enterprise and a public sector company to support our vision of creating a network in which all participants win. Nitro Network’s core mission is to create a borderless network with LoRaWAN and 3G/4G/5G service providers.
Stay tuned for more updates, advancements and partnerships.
Nitro Network is expanding the team
Nitro Network has hired various professionals across multiple departments to bring creative, innovative initiatives to its community. With the ecosystem expansion happening at a furious pace, Nitro Network is working hard to match the expectations of our community and our supporters who believe in our vision.
Upcoming community events
The most efficient way to keep our community’s belief intact is to communicate with you. With that being said, Nitro Network has organized a plan to engage with our community through various exciting events and activities such as “Learn to Earn.” These programs create a win-win situation, because they help community members understand the scope of Nitro Network and the impact they can have in the months to come. Moreover, it will help participants learn about the project, all while they earn NCash for actively participating in the ecosystem.
Make sure you stay up to date with all the advancements of Nitro Network by following us on all social platforms. 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!
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.