This article is a translated copy of the official Gate.io announcement located at https://www.gate.io/article/17097
On November 8, 2019 at 11:00AM ( Gate.io Local Time/UTC+8), Gate.io will take a snapshot of users holding a minimum of 100 NAS and will airdrop a total of 8 million NAX to these users. If you would like to take part, be sure to have NAS on the Gate.io exchange by the time of the snapshot!
In addition, Gate.io will provide NAX services for platform users to provide NAS current POS financing. NAS users can participate in the following ways:
- Web participation address: https://www.gate.io/hodl/30
- Gate.io Mobile App users can click the “Quote” button At the top of the page, the button
In order to facilitate NAX’s user asset transactions through airdrops and subsequent NAS live PoS financing tool, Gate.io will open NAX to ETH transactions on November 8, 2019 at 12:00 p.m.
Investors must be aware that the current NAX circulation is small and NAS users can produce NAX through PoS (dStaking). In the future, the token circulation will gradually increase along with the inflation rate. Due to this, the market price may fluctuate greatly. To have a safer trading environment, in the beginning we will only open NAX to ETH trading pairs. Investors are highly advised to learn more about the situation and participate according to their actual needs and risk. Do not pursue high risk investments that you do not fully understand — invest carefully.
The NAX deposit address is:
The NAX trading address is:
About NAX Introduction
1. Introduction: NAX is the community and ecosystet governance asset of the Nebulas blockchain. It is obtained through fair and open methods, without institutional financing, no public fundraising, and no team reservation. It is a governance coin optimized by Nebulas in accordance to the needs of the public chain’s own community and ecosystem governance. It is distributed in the form of decentralized pledge (dStaking) NAS. This allows for the community to participate in the public chain governance in a fair and open manner.
Different from the previous centralized pledge/staking projects, with Nebulas’ decentralized pledge(dStaking ), the user’s assets are always stored at the user’s address, avoiding the potential hacking of the centralized pledge/staking pools. User assets are safer and users can cancel pledges at any time thereby protecting asset liquidity.
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2.NAX Token Information
(1) Name of Token: NAX
(2) Total amount of tokens: 10,000,000,000 (10 billion)
(3) Current token circulation: 200,000,000 (200 million)
(4) Token type: NRC20
(5) Token: Decimal point: 9 Bit
(6) Initial price: ¥0.03
(7) General economic model: pledge is mining
(8) Token distribution: no reservation, no allocation, obtained through pledge NAS, according to NAS pledge and pledge currency age calculation .
(9) Proportion of token distribution: 95% is allocated to users according to the decentralized pledge, and 5% is allocated to the NAX eco-fund pool for the operation and promotion of tokens according to the current circulation
(10) Project dynamics:
- August 21, 2019: Release of the NAX white paper;
- Beginning of the NAX flash distribution on September 3, 2019 with a soft top 20,000 NAS collected; release of 3 million NAX;
- September 11, 2019: Decentralized pledge dStaking opens and the subsequent release NAX;
- September 29, 2019: Open the use of NAX voting to determine whether the 1 million NAS reserved by the community is destroyed;
- October 18, 2019: Use NAX to vote on two proposals: 1. The community reserves the remaining 34 million NAS for destruction, 2 The Future of NAT;
- November 4, 2019: Using NAX to vote on two proposals: 1. DPoS accounting income adjustment, 2. Destroying of remaining ERC-20 NAS
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