The NAT redemption process has been completed — Follow along for all the details about the release of NAX & remaining NAS

Nebulas
Nebulas
Nov 6 · 3 min read

The NAT termination plan as approved by the community officially launched last week and as of today, the one-week NAT recycling time-span has been completed. We will announce the subsequent NAX issuance and return of the centralized pledge NAS so be sure to pay attention to official announcements from official Nebulas accounts.

NAT redemption

As of November 6th at 3:00p.m. (Beijing time, UTC+8), the NAT recovery address (n1YuDetHCjhzynuEJnPjQZBeVcbEh1ufrAg) has received: 5,593,804,544.6772 NAT.

Prior to the recovery process, there was 9,388,419,207.94 NAT in circulation. As a result, this program has recovered 59.58% of all NAT in circulation.

The total amount of NAT frozen due to it being held by exchanges is: 1,894,114,010.65 NAT. In addition to this part, after the end of the redemption process, the NAT balance has been reduced to 1,900,500,652.62 NAT.

The details can be viewed at explorer.nebulas.io.

NAX exchange

Conversion ratio

All addresses that have sent NAT to the recovery address will receive a portion of the available 10 million NAX held in the Eco-Fund pool.

This ratio equates to: 1 NAT=0.001787692065 NAX

For example, if a user transferred 200,000 NAT, they will receive 357NAX in return.

Redemption time

NAX will be released to the community within 7 business days once the NAX Eco-Fund pool has reached 10 million NAX. We do expect this to occur in the month of November. The Fund pool amount can be reviewed by the community via the web explorer with the address of: n1PeQULo1LDoLX8Cd33kbUNzC7CMfCLhX6E.

About the NAX Eco-Fund Pool

The 10 million NAX for this plan has been obtained from the NAX Eco-Fund pool. Based on the NAX White Paper (2019), the system automatically deducts 5% of all NAX distributed to the pledge users and places it into the NAX eco-fund pool. This pool is operated by Nebulabs and details about it will be published regularly. This fund is used to expand the influence of NAX, explore the application scenarios of NAX, and to better serve the Nebulas ecosystem.

Any NAT that has not been transferred to the recovery address on time will not be redeemed now or in the future.

NAS return

Nebulabs has officially stopped maintaining NAT related contracts. As of now, there are still 356,943 NAS stored in the centralized pledge pool which will be returned to their rightful owners address within 24 hours. You are welcome to view the dispersal via the web browser (explorer.nebulas.io) or the mobile app NAS nano Pro.

Disclaimer:

1. Please only refer to Nebulabs (Nebulas Lab)for official announcements about NAT.

2. Nebulas does not assume any responsibility for the loss of assets due to personal operations. Please be diligent to identify and avoid fake applications, falsified messages, phishing websites, phishing emails, fake customer service, scams, etc… The Nebulas team will never ask users for their private keys. Nebulas is not responsible for any loss caused by users or third parties.

Nebulas Lab
November 6, 2019


Learn more about Nebulas:

Official website: Nebulas.io
Smart asset platform nextDAO: nextDAO.io
Github: github.com/nebulasio/go-nebulas
New Telegram(EN): t.me/nebulasen
Community Forum: community.nebulas.io
Instagram: nebulasio
Facebook: @nebulasproject
Twitter: @nebulasio

Nebulasio

Nebulas is an autonomous metanet. The future of collaboration is coming.

Nebulas

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Nebulas

nebulas.io / Nebulas is a next generation public blockchain, aiming for a continuously improving ecosystem.

Nebulasio

Nebulasio

Nebulas is an autonomous metanet. The future of collaboration is coming.

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