Nitro Network on the anvil of bringing in positive disruption in DeFi
The DeFi Dent
There are scores of DeFi applications across the industry that are trying to build a ‘crypto economy’ with staking, farming, NFT collateralized loans and so on. While these applications have met user expectations, some people in the crypto world seem to feel left behind. Also, poor inclusivity is another reason for DeFi applications to see a drop in numbers. Lesser number of token pairings and too many terms to enter the DeFi space are some of the downers for users.
The reason for their moderate success is limited interoperability with other platforms, low APY and fluctuating market sentiment owing to factors that are beyond anyone’s control. Also, scarcity or low liquidity in DeFi pools or in the market altogether hampers the growth of the network as well as the investors’ expectations.
How does Nitro Network intend to fix the dent?
Nitro Network’s solution to this dent is built on a phenomenal economic model that includes all participants in the Nitro DeFi ecosystem. With our native token $NCash having a multidimensional application on the network, Nitro Network users can get more by engaging and participating.
The network primarily works as a private communication channel powered by IoT, LoRaWAN, 3G, 4G and 5G. By this we would like to shed light on ‘Nesting’, a mechanism that allows individuals to host a network point and share their unused internet with local IOT devices in a specified perimeter. Through this barter the individual offering the internet connection becomes a nester. In return, the nester receives rewards in $NCash. The NFMs and nesters receive rewards in the ratio of 80:20.
In addition to this, the network also rewards coverage validators, data governance and security as well.
Also, Nitro Network is soon to announce the launch of the Nitro NFT marketplace which shall open up more opportunities for network participants.
How different is Nitro Network’s mining mechanism?
We’ve heard of Bitcoin’s proof of work, i.e mining that takes up enormous volts of electricity resulting in a carbon footprint and ridiculously high electricity bills. Also, physical miners are difficult to set up especially if you are a novice. So, Nitro has revolutionized the mining game with the Nitro Bot “Non Fungible Miner” (NFM) which can be purchased via our website in the form of a mystery box. The Non Fungible Miner does all the work for you! As you set it up, it automatically mines, so that you can earn rewards effortlessly. Each tier of NFM grants you rewards respectfully — Nitro Network believes that all of it’s users should be rewarded, not only the select few who are lucky enough to purchase a “valuable” NFM. There’s another aspect to the Nitro NFMs. They double up as generative art collectibles. We have divided the NFMs into 3 categories based on the Tier structure centred around location — Iconic — Tier 1 NFM; Premium Tier 2 NFM; Top — Tier 3 NFM. Read more about Tiers here
So not only do the NFMs bring you effortless rewards they have accelerating value. You might just want to hold on to them!
The LoRaWAN is another foundational pillar of Nitro network. It channels IoT across longer distances with less energy consumption. Long Range Wide Area Network allows miners to carry out functions like encryption and identification over the network with ease and stability. Join Nitro Network today in pioneering and paving the road for the endless frontier that is to come. Make sure to follow us on all social platforms to stay up to date and connected with upcoming news, announcements and giveaways.
* Nitro’s NFM Pre-Sale is still live! Make sure to take advantage of this today while supplies last.
About Nitro Network
Nitro Network is building a world of private communication networks powered by IoT together with LoRaWAN/3G/4G and 5G. This hyperconnected world is the IoT alternative to cellular networks unlocking a $3 trillion market opportunity. We believe our decentralized private telecom networks is a gamechanger built on a blockchain with our proprietary token NCash at the core that drives utility and value from unlimited use cases. We are creating an inclusive ecosystem incentivizing users to own, operate and earn from the private networks of the future.
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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.
