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And then there was only NIM

NET Token “Life” has ended

Team Nimiq
Dec 1, 2018 · 3 min read
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True, everybody had a chance now to activate their NIM, it’s time to move on. (Community feedback on Reddit)

What is “disabled”?

The rules that govern the NET Tokens are written in a Smart Contract on the Ethereum Blockchain. And there is one rule that halts all movement capabilities of the token, making it impossible to create new transactions. Once this rule is triggered, the contract remains in this disabled state.

What does this mean for NIM holders?

It means there is only NIM. For NIM holders this deadline doesn’t change much really. Well, nothing but that Nimiq can let go of the old activation button and replacing it with the all-new onboarding experience button on nimiq.com. Nimiq, the team and the community altogether, can now focus solely on the evolution of the Nimiq protocol and increasing the adoption of NIM. Go NIM!

What are the final statistics?

From the total 10'500'000 NET, a total of 80.5% was used to activate corresponding NIM. This means a total of 2'049'026.6096758 NET were not used by their holders to activate 204'902'660.96758 NIM.

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So what is going to happen with the unactivated NIM?

NIM that has not been activated will remain untouched for an amount of time to ensure that possible disputes of NET holders can be resolved. The amount of time is yet to be decided by the legal counsel. In any case, remaining NIM would exclusively be committed to supporting the Nimiq project and when it comes to such decision it will transparently be shared with the community. The Nimiq Foundation is bound by its purpose to use funds to support the Nimiq protocol development, Nimiq Ecosystem, and its community. For special inquiries re NET (only!) contact: netinquiry @ nimiq.com.

What’s next?

A lot of exciting plans for NIM! Besides getting integrated with Changelly for a smooth purchase of NIM with USD and EUR (as well as several popular Cryptocurrencies), the Nimiq team is currently working on:

  • Releasing an open source alpha version of the Nimiq checkout process showcased in the Nimiq Webshop.
  • Writing front-end documentation and tutorials for attracting more web developers and making sure Nimiq’s current dev community stays happy :3.
  • Finishing up the first Rust implementation of a Nimiq Full Node.
  • Redesigning the Safe, the main website, and combine them to create a further improved onboarding experience for new users.

Long live the NIM!


Nimiq

Browser-based Blockchain & Ecosystem — https://nimiq.com

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