Nitro Mining Ecosystem
In order to build a scalable model and create a demand and supply equilibrium, we have introduced three concepts:
Nesting is a process by which we will ensure that we have strong connectivity in a defined radius of coverage area with a minimum number of Nitro ION miners.
2. Nitro NFM
What is a Nitro NFM?
We have come up with this unique concept of the Non-Fungible Miner (NFM). The NFM represents your miner and is your key to unlocking rewards when you mine on the Nitro Network. Since NFMs are much like NFTs, this means you will be able to mine on the Nitro Network without any mining hardware. Your NFM doubles up as your digital miner with which you can mine rewards instantly and effortlessly!
So how does this work? We have divided the NFMs (and hence the mystery boxes) into 3 tiers based on the location the NFM is being placed. Read more here
On the network, NFMs can mine NCash in every EPOCH - Nitro’s EPOCH is timed every thirty minutes. There are three rewards tiers
- 1.Tier 1 - ICONIC NFT
- 2.Tier 2 - PREMIUM NFT
- 3.Tier 3 - TOP NFT
The bot-themed NFMs have another function too. They are rare pieces of generative art (collectibles) - with accelerating value. So buying an NFM will place place the dual advantage of digital mining rewards and collectible art on your side!
On the ICONIC tier, you earn 95.69* NCash, on the PREMIUM tier, you earn 52.05* NCash and on the TOP tier, you earn 24.18* NCash per EPOCH. It is important to remember that you need to be signed in to receive these rewards.
At the core of Nitro’s digital mining ecosystem is a trilogy - Nester and Miners bound together by Nitro platform. Here’s how it works
Nester host the nitro platform by getting their location (verified) by the Nitro platform. Hence, many such “nests” are created by participants hosting the network from their location across the world. Miners are those who build and support the network via NFMs (non-fungible miners) which they can buy from the marketplace. NFMs are representations of digital miners and are divided into Tiers based on their location. The Nitro platform creates the ideal Nester-Miner match to optimize reward distribution for both Nesters and Miners. Since Nitro Network has created a 1:1 grid (1 Nester in 1 km radius) we avoid any network congestion and at the same time ensure equitable distribution of rewards.
This is the synergy that powers Nitro’s digital mining with the Nitro platform as the protagonist in this ecosystem.