At Nominex, the second phase of token distribution means that traders get tokens for just using the platform, idea inspired by diamond rain on Saturn.
Nominex is soon entering the second stage of its hybrid token distribution model (In-Demand Coin Offering) which takes the best features of ICOs, IEOs, US, and EOS and none of their worst.
Collecting and scrupulously analyzing data from the results а successful methods of token trading and eliminating the factors that led to fails resulted in creating a next-generation system that comprised only success factors.
Nominex intends for its DCO to become the next step in the evolution of token distribution in the same way that Bitcoin became the next step by taking the best mechanisms from the best products that didn't quite work before and uniting them all under one roof in a rather genius fashion.
What's with DCOs?
Nominex's new and revolutionary In-Demand Coin Offering model, like Bitcoin, is made of the best features of all the best models that came before but didn't quite work. You probably know about the sad results of ICOs. Most of them are over now thanks to a huge percentage of conmen who gathered funds and vanished.
What most people don't know is that this was a fantastical way for new startups to raise money and make ideas come true that they couldn't even dream of before.
This was why instead of banishing ICOs into oblivion the community decided to fix the safety flaw and add a new concept to the existing model that drastically improved security.
IEOs, as a result, are much better at being loyal plus effective, raising $7 BN in 2019 alone, a lion's share of which was raised through LEO (not really a lion's share, but the joke was too good to pass up)
Which IEOs inspired Nominex?
EOS (147,88%)
An example of a prolonged model of token distribution that provided serious results would be the EOS token sale. Their token sale took a year and implemented more impressive mechanics than most other projects.
Nominex took what's best from EOS (end everyone else - sorry not sorry!) and erased the parts that hung over EOS users for eons like the Sword of Damocles such as centralization, imminent state intervention, and the ability to rewrite the history as one sees fit, which caused Nominex to doubt whether EOS is a blockchain (spoilers: no):
"EOS contributors devoted to building decentralized apps (dapps) and development tools for the blockchain are losing clout – and making little or no money from contributing to the health of the ecosystem. One of them publicly disavowed the blockchain earlier this month, citing the excessive power of the largest EOS token holders."
LEO ($1 BN raised)
How did LEO manage to get this much trust and appreciation from investors? LEO's whitepaper quotes "a home for innovation, with a diverse portfolio of products that
adopt many different aspects of blockchain technology without compromising on quality."
Nominex is confident that offering a colossal array of functions of all kinds in order to satisfy the user in multiple ways in parallel is the key to success. Why not apply the idea of "а diversified portfolio" to the functions and services, too?
Is fundraising even a good idea?
According to CoinMarketCap, there is quite a future in this market:
"However, much to the industry's surprise, the IEO market did show some positive developments in 2020. For example, India-based exchange WazirX conducted a successful IEO on Binance, raising $2 million and delivering a notable ROI to their investors (at the moment of writing, the ROI for WRX was +892%). Several exchanges remain quite active in the market, as there continues to be a supply of projects and demand from investors."
Binance was the best launchpad so far with +144% average ROI. Nevertheless, because of the hack, Nominex decided they can do better.
The best visionaries predict instead of following, so Nominex decided to combine more features like those that made IEOs better than ICOs.
What spectacular features does Nominex offer?
Following a mass exodus after the incident (hint: it involved the number 66.6% and exchange that begun in "Coin" and ends in "ase") Nominex have placed even more emphasis on our rule to keep Satoshi's legacy going and offering no KYC on amounts of up to 3 BTC plus a handsome bonus.
Nominex gives 50 USDT as an awesome Welcome Bonus for trusted trading to all traders who join the game (see the terms below). On top of that, we reward 10 USDT to you for each of your referrals who did the same.
Nominex is especially proud of their demo tournaments that provide the opportunity to win real money with no starting capital and no risks:
"With other exchanges and tournaments, not only do you need to pay for participation, but you also have to trade using a real account, for real money. Only those who can quickly open fictitious transactions from different accounts win. The rest are losing money.
Nominex contests are completely different. You do not risk anything, because the tournament is held on demo accounts. In conditions of tremendous volatility due to coronavirus, this is very important. Moreover, the exchange immediately gives you 10,000 USDT to a demo account.
As a prize, you get real (not a demo!) USDT in trust for 7 days. Got a profit? She is yours. No tournament fees, no risk - and a real prize. If this is not free money, then what is it?" – Nominex
Starting on the 22nd, the users will be receiving tokens just for trading, as a bonus, in addition to another impressive row of bonuses already in action.
What are those tokens for?
Shiny new NMX tokens not only represent our splendiferous breakthrough into the Blue Ocean Strategy the likes of which no-one has ever seen before but also provide quantifiable results:
- Get some NMX to wave in front of your friend's face just for sharing Facebook posts.
- Reduce trading fees by 50% when paid with NMX tokens
- Minimize trading fees if you hold a certain amount
- Receive prize NMX tokens in daily trading tournaments
- Participate in daily raffles and receive prizes.
The more you trade, the more you learn
Get NMX tokens in proportion to your daily trading volume!
The new DCO system is more advanced than the now popular IEO, which lacks the luster of tokens being actively used as they're being sold, and definitely is an improvement on the sadly famous ICO format.
It would be fair to say that the DCO format is the next step in evolution for exchanges, which will be adopted soon with the same fervor as Bitcoin was. This time around though the plan is that this time it'll take less time for the world to understand the advantages of this system than between ICOs and IEOs.
The winning mechanics
The remaining (after phase 1) NMX tokens go into the 2nd distribution phase after the completion of the 1st phase.
How does distribution work? It's as easy as 1-2-3.
1 . For example, in the first phase, 100,000 tokens were sold. And we have a total of 100,000,000. So the second phase is left.
99,900,000 tokens – this is what goes into the second phase and will be distributed and sold until the end of the distribution – that is, 305 days.
2 . 20% of this amount forms a pool for traders. 80% form a pool for sale (only for token buyers). We calculate 20 percent of 99.9 million. That's 19,980,000.
3 . The pool for traders will be distributed among Nominex traders during the 2nd phase (next 305 days). The number of NMX tokens in the daily pool is always the same.
So these 19,980,000 should be divided by 305. That will be 65,508 per day for distribution.
We dare you to calculate your daily volume of awards using daily trading amounts of $100, $1000, and $1000.
Additional bonuses
No doubt you've already heard about our awesome referral system. If you have tokens you will get commissions from your referrals too. Want to know more about getting trading fee discounts using NMX tokens?
Why join?
The reasons why crypto is the future are legion and multiplying with the speed of light. Finding reasons why crypto won't work, however, is substantially difficult, thinks Nominex CEO Pavel Shkitin:
"The 'global banking cartel' has been taking cataclysmic hits since the turn of the century with more than 500 banks going bankrupt since 2001, the printing of trillions to save the already dying dollar, and the 2008 crisis, which devastated the world and desecrated the future of our children. Precisely at that time, cryptocurrency was born, which was specifically designed to fix everything banks broke."
Learn more about the awesome new DCO, great fun to be had, CS:GO-like ranking systems and games, demo tournaments, and Nominex's gorgeous UI on Nominex website.
Disclaimer: The facts and opinions appearing in the article do not reflect the views of IBT and IBT does not assume any responsibility or liability for the same.
