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NuNet NTX Token Launch: TGE Results

Greetings NuNet community and all Singularitarians!

Last week, Friday Nov 26, we had our NuNet NTX Utility Token Generation Event and we once again would like to thank our community for the shown support and a great injection of energy and inspiration to the project! This is what puts us onto a clear path to successful development now and in the future.

This blogpost will recap on the events of the token launch and look into that future as well. Topics include our TGE results, staking and farming options and a sneak peak into the airdrop for AGIX holders and an upcoming AMA!

Special thanks

We want to start off by thanking our volunteers, who have been working around the clock to provide our Telegram channels with support. Without them the launch would not have been as successful. Thanks a million to: Burnt Toast, Marina, Mac Foraday, Russ, Jackington, Ringo, Haley and Ilija!

And of course a special thanks to you, our community members! Here is what I said few hours after the TGE on our Telegram:

Dear NuNet community member,

I would like to congratulate you with today’s Token Generation Event of NuNet Utility Token, which successfully brings us to the new phase of development of the Global Economy of Decentralized Computing — with your support we have launched; With your support and participation we will navigate further. And we will get there.

This is an important milestone for us, and for our ecosystem. It opens space for … reaching new milestones! We will communicate our long and short term plans, updates and will kick start the community developer program ASAP.

But for now: cheers!

🍷

As always — looking forward — Kabir

Today we recall the status quo at this moment and start carefully planning and implementing our steps for the future, toward building the Global Economy of Decentralized Computing.

Overview and summary

NuNet Utility Token (NTX) Details
NTX token Contract: 0xF0d33BeDa4d734C72684b5f9abBEbf715D0a7935
Decimals: 6
** Note: Importing the token as a custom token to wallets from Coinmarketcap has defaulted to 18 decimals on Uniswap for some users, choosing Coingecko for importing or manually (re-)adding the custom token prevents this. We recommend using the SingularityDAO swap page.

Current NTX links

Staking and Farming

Via our partnership agreement, SingularityDAO will provide staking and farming solutions for the NTX token (as well as other SingularityNET ecosystem tokens) now and in the future.

The first NTX bonded staking pool on SingularityDAO portal was open for registration Nov 25th-29th and by now has closed its registration. The pool ended up with an APY that was quite a bit higher than the 50% guaranteed minimum, at a roaring 139.66%. The staked tokens and the rewards will automatically roll over into the next staking period, of which the registration period opens at December 25th 13:00 UTC.

NuNet and SingularityDAO will offer more staking pools with varying lockup periods and of course we’ll make sure to synchronize them with the release of vested allocations — and the upcoming airdrops (more on that later). The maximum capacity of the first staking period was set relatively high as a way of rewarding early stakers. The minimum APY we aim for will be a bit lower than the first pool, as this aligns better with our tokenomics and the long term vision and roadmap. Further staking and farming solutions will be announced.

Since November 30th, the yield farming for the NTX-ETH pair has been available at SingularityDAO. The rewards are set at 525,000 NTX tokens over the coming two months. For more background information about providing liquidity and yield farming, please see this article.

Airdrop to AGIX token holders

Although it’s not quite time yet to fully announce the upcoming airdrop to AGIX token holders and it’s details, we’d like to assure you that the first claiming period will be synchronized with the next bonded staking epoch, registration opening on December 25th and that we’ll offer the option to directly claim into the bonded staking pool (similar to what the SingularityDAO airdrop offered). Stay tuned for the details regarding the first airdrop as well as the NTX airdrop mechanics for the months to come!

NTX Token launch community round communications

On Tuesday 16th November 2021, an email was sent which inadvertently disclosed the email addresses of a number of community members. We are very sorry this happened and as a token of apology we will allocate the affected users $100 worth of NTX tokens within the next 14 days, without further action required. Please note that this does not remove the need for the affected and other users to stay vigilant at all times on phishing emails and verify email sources. Affected users will be communicated on this directly.

YouTube live AMA

Monday Dec 6th, at 18:00 UTC, we’ll host a live NuNet AMA on the SingularityNET Youtube channel. Please submit any questions you might have to this form.

Future outlook

Community developer program
A crucial aspect of NuNet development after launch is a healthy and vibrant community of developers (building applications and contributing to the platform development), test providers (operating the test network of compute resources) and test users. Private Alpha already includes some developer tooling and access to platform-level debugging information. Public Alpha will encompass a full-fledged developer program for bootstrapping a sustainable developer community within the SingularityNET ecosystem. This community developer program will be kicked off and will be communicated through a separate blog post.

Cardano Catalyst proposal
NuNet submitted a proposal for Fund7 Catalyst, read the full proposal here.
In order to increase the decentralization & resilience of the Cardano network and reduce reliance on big tech clouds on the hardware level, NuNet aims to engage with the Cardano community for enabling Cardano Staking Pool Operators to run their nodes via NuNet and hardware owners and operators to offer their hardware for these purposes. NuNet has already implemented the ability for people to voluntarily offer their computing power to run Cardano passive nodes — further decentralizing and strengthening the Cardano network (see video).

Building the team
In order to complete the roadmap, and build far beyond it, NuNet will be expanding its team. We will be hiring through the SingularityNET Jobs Portal and advertising the open positions through our social media channels, so stay tuned for upcoming job positions. We are also running an open application round for early birds who are very excited to start working at NuNet ASAP, therefore you are welcome to submit your CVs with a short letter describing what you think you can contribute to NuNet to recruitment@singularitynet.io.

Further short term roadmap
As indicated in our roadmap, as a short term development goal we are building the NTX payment gateway to enable people to rent computing power with NTX tokens. Next to that, we are also building an AGIX <-> NTX gateway for enabling SingularityNET AI agents to automatically compensate hardware costs to run themselves. These are not stand alone features — this way we will start building the gateways between internal tokenomics of the NuNet platform — the Economy of Decentralized Computing — and the broader cryptosphere.

Warning

Be wary of scammers impersonating official NuNet or other ecosystem representatives to trick you into sending tokens to the wrong address. Our official sources are this blog, our website, Twitter, Telegram, and Youtube. Do not trust people reaching out to you claiming to be from NuNet. You can find a full list of official SingularityNET ecosystem telegram admins here.

About NuNet

NuNet lets anyone share and monetize their computing resources, turning cloud computing power from a centralized service into an open protocol powered by blockchain. Find out more via:

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NuNet provides globally distributed computing power and storage for decentralized networks and global intelligent computing.

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Kabir Veitas

Kabir Veitas

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