Nitro Genesis Node and Staking

1. What is the Genesis Node reward program and what is the reward for it?

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.

2. What is required to be a Genesis Node?

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.

3. Are all NCash holders Genesis Nodes by default?

No. Only those who stake for at least 30 days within the specified date mentioned above are eligible to be a genesis node.

4.The Genesis Staking Program was extended for two months and has cut the rewards for Genesis Node who staked earlier. Is there any added advantage for early stakers?

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.

5. How many Genesis Nodes are there in total?

There are 498* wallets that have qualified for Genesis Node. (*T&C apply)

6. Who can stake on the Genesis Node portal?

Only Genesis Node can stake on this portal

7. Can anyone staking now for 30 days become a Genesis Node?

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.

8. How many NCash has been allocated to the Genesis Node Program?

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.

9. What is the minimum and maximum amount of NCash one can stake?

  • Minimum is 100,000 NCash

  • Maximum is 1,000,000 Ncash

10. How is reward getting distributed?

Read our blog on Genesis Staking to understand the distribution in detail.

11. For how long a Genesis Node will have to Stake?

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.

12. Is there any lock-in Period?

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.

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