Nitro Genesis Node and Staking
The Genesis Node program is a protocol designed to grant NCash holders with a slew of rewards over the next 50 years! As a testament to the loyalty of its community, Nitro Network has opened up a treasure chest of NCash tokens to achieve this goal.
You need to complete 30 days of stake in the Nitro Staking Program before 15 April,2022. We have passed the above mentioned timeline and Genesis Nodes has already been shortlisted. There are ~498* Genesis Nodes currently.
*Numbers can be updated subject to Genesis Node validation and verification.
No. Only those who stake for at least 30 days within the specified date mentioned above are eligible to be a genesis node.
The program has been designed to incentivize all NCash holders who together hold approximately 10 Billion NCash as of today. The idea of the Genesis Node Program is to benefit all our long-term supporters. While the number of eligible nodes are very few even after the extension, we believe there is going to be enough for every Genesis Node. Old qualified Genesis Nodes will not have to worry about sharing rewards as it is a community incentive program and its sole objective is to increase the number of beneficiaries for the program. And the decision of extension to this program was taken as many NCash holders were facing difficulties due to smart contract changes and issues with certain exchanges. The new added numbers are marginal and the benefits are huge. Community is at heart of the entire incentive program and so are Genesis Nodes. In future, for added incentives for Genesis Node, Nitro will keep the early stakers up on the wishlist for beneficiaries.
There are 498* wallets that have qualified for Genesis Node. (*T&C apply)
Only Genesis Node can stake on this portal
No. The opportunity to become a Genesis Node is over now. People who are not a Genesis Node can stake their NCash at our Staking portal to earn amazing APR.
4% of Team and Investors reward has been allocated for Genesis Node. That percentage amounts to be 70 Million NCash per month for the next two years before the token halving schedule takes place. The Genesis Staking Portal currently holds 498 wallets*. And each genesis node can stake upto 10 units where 1 unit = 100,000 NCash. Genesis node earns ~9.62 NCash per unit per epoch.
- Minimum is 100,000 NCash
- Maximum is 1,000,000 Ncash
The Genesis Node Program will reward the Genesis Nodes for the next 50 Years. So ideally, they can stake for 50 years as per their capability and earn reward accordingly.
No. You can stake and stake your amount anytime. Reward is pro-rata basis (refer question 7)
13. How often can I claim my rewards?
Rewards are being allocated per EPOCH (i.e every 30 minutes). So you can claim rewards anytime.