It has become impossible to imagine the cryptocurrency market without DeFi. The exponential growth this field is experiencing has also sparked interest among those concerned about the state of privacy. NIX Platform recently announced a unique advancement within the privacy field by developing the NIX Bridge solution for tokenized chains and DeFi applications in cooperation with Blockchain Foundry. The NIX Bridge will set the foundation for true zero knowledge proof interoperability within and across entire blockchains and assets, and will greatly enhance the presence and exposure of NIX Platform to new unveiling markets.
The introduction and launch of the NIX Bridge Token (NBT) is the next step in the development of the NIX Bridge solution towards our goal of pioneering privacy solutions for DeFi. NBT will be the backbone for the creation of the NIX Bridge DAO (Decentralized Autonomous Organization) and will also provide the funding required to develop the NIX Bridge interoperable platform.
The DAO will include the elaboration of utility tools, web wallets, DEX development, marketing campaigns and even liquidity allocation. The funds collected via the NIX Bridge Token allocation will allow NIX to build a robust and decentralized NIX Bridge and whole privacy ecosystem, while allowing for a constant optimization process through governance-led continual improvement.
NBT Presale Info
NIX Platform is making the NIX Bridge Token (NBT) accessible to anyone by holding an exclusive presale through bounce.finance from OCT 15th 6PM UTC to OCT 22nd 6PM UTC. After presale is completed, NBT/ETH pair will be listed immediately on Uniswap, liquidity locked forever and trading enabled to guarantee the fairest possible launch.
- Token allocation will be as follows: presale 30% (18,000 NBT), liquidity incentives 30% (18,000 NBT), initial liquidity 5% (3,000 NBT), 25% development (15,000 NBT) and team 10% (6,000 NBT).
- Presale price: 1 ETH = 7.2 NBT
- Mainnet contract address: 0xF287DE2ae9c655ab9C10dDDc8eED4e61969D4a5B
Anyone participating in the presale will receive NBT directly in their wallets, which will not be transferable until NBT has officially launched on Uniswap, this will be achieved by temporally locking the entire NBT network. After the presale is over and NBT is live, the pause functionality will be removed from the contract to allow for transactions, thus guaranteeing a smooth and fair launch.
WARNING: DO NOT USE ANY EXCHANGE ADDRESS DURING THE PRESALE
The governance token enables users to have a say in NIX Bridge applications, which include:
- Increasing/decreasing onramp/offramp fees.
- The direction of the fees.
- The management of incentives towards liquidity providers.
- The addition of extra token utilities.
- And more.
NBT will have liquidity pool incentives in the form of staking, a deflationary system that burns 1% of every transaction, and governance weight as soon as the NIX Bridge interoperable platform is launched. Additionally, 1% of NBT tokens will be airdropped to (active) Ghostnode holders who play an integral part in the privacy ecosystem of the NIX Bridge. Further details will be provided accordingly.
NBT Deflationary Design & Governance Principles
To embrace the governance oriented model that NIX Bridge boards with the creation of NIX Bridge Tokens, the desired system would ideally expect swift and upright decisions from all participants. The following model addresses such participation concerns, as well as detailing deflationary actions and the farming liquidity pools mechanism.
Initial Contract Design (on launch):
- Anytime the token is moved, 1% of the NBT transferred is taxed and goes back towards liquidity incentives and governance. This will not affect buyers of the initial Uniswap ETH/NBT Pair (and additional future liquidity pairs).
Separate Contract for Governance (after launch):
- NBT will also encourage voting participation for creating governance proposals. 10% of the tax amount goes to a pool which is distributed to successful proposal creators as well as random voters. With this mechanism, users creating a proposal are required to pay an amount in NBT. If the proposal is approved, the creator will receive their initial amount paid and a percentage of the NBT as a reward, while a random number of voters that participate also are rewarded. This encourages activity by all addresses.
Separate Contract for Staking and Farming (after launch):
- Liquidity pools for the NBT infrastructure require users to lock tokens in smart contracts to facilitate transactions. In order to sustain this system, liquidity providers are required to supply both NBT and Ethereum; by doing so they receive a quantity of tokens that is proportional to the liquidity provided. Users will also be able to stake their v2 tokens to gain more NBT from liquid incentives and the 1% network fee. The staking UI will be ready on the site soon after launch.
600 NBT per month (1% of total supply) will be added as incentives for liquidity providers until the governance system goes live.
NIX Ecosystem & NBT
The NIX Bridge and its governance token (NBT) both benefit and expand the entire NIX ecosystem. The Bridge’s modular structure enables the expansion of NIX privacy tools to numerous networks, starting with Ethereum, and progressively evolving to ADA, XTZ, DOT, etc.
Its mechanism will allow for tokens on those chains to be seamlessly bridged into the NIX ecosystem and securely traded, swapped, lent, staked, sent and received with full privacy. The importance of NBT for this system to be successful lies on the fact that it serves as a means of funding for NIX Platform to build all the tools required to develop a robust privacy architecture, while it is also critical to craft a decentralized community of holders to take the future of this technology into their hands.
NBT embodies the building block of this whole project, and once it gets designed and launched, this token will become the backbone and governing body of the NIX Bridge Privacy solution, helping NIX connect privacy to Decentralized Finance.
- NIX Platform off-chain governance and NIX Bridge governance, although both driven by decentralization values are independent of each other.
- Retributions in any form of reward or fees are NOT offered by investing in NBT, the main goal of this token is to give holders a voice in the NIX Bridge ecosystem.
- Elements that are out of the governance utility that NBT entails are issued as experimental.
- It is mandatory to state that, by no means, does NBT pledge any form of gains or return.
- If you are an US citizen you are not allowed to participate in the sale.
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