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Re: NOMINEX - cheating hunters by delaying payment for THREE years
Friends, we have already described all the reasons why our decision to distribute 200,000,000 NMX is not a one-time, but within 100 years, will bear fruit for the community and for us. We calculated that the share of bounty hunters compared to the volume of coins distributed over the first year increased by as much as 63 times. We talked about the fact that you can withdraw the first NMX coins much earlier than in April 2021. We have announced that locked NMX coins will be stakeable shortly after listing under certain conditions, which we will announce after listing.
If all of the above doesn't convince you, we're sorry. We are sorry that our decision upset you. Unfortunately, we can't please everyone, although we really tried to make the conditions optimal for everyone.
It is not clear for what reason, almost all of our previous answers were deleted by the topic moderator. Therefore, we will answer all questions in one message.
All distribution rules have already been formed and will soon be entered into a smart contract. You cannot change them.
About the lack of information about the AMA session in the STM community. STM is a side project whose coin we have listed on our exchange. They don't have to write about us for their community at all.
The number of users in the Nominex Telegram community is not equal to the number of exchange users. This is logical. After registration, each user is assigned his id, which is charged in order. Today, the number of registered users of the exchange is over 34,000.
After listing, the cost of the NMX token will no longer be fixed. At the moment, the price of 1 NMX token is 1.2 USDT.
We have not deleted any of our posts. They have been deleted by the moderator. We have a proof screenshot of an incoming letter with a notification that our replies in this topic have been deleted.
That's all. Please, if you have any questions, you can ask them in the live chat on the exchange website or in the Telegram community. Thus, you are guaranteed to get an answer to your question, and faster than on this forum. Thank you all for your understanding.
If all of the above doesn't convince you, we're sorry. We are sorry that our decision upset you. Unfortunately, we can't please everyone, although we really tried to make the conditions optimal for everyone.
It is not clear for what reason, almost all of our previous answers were deleted by the topic moderator. Therefore, we will answer all questions in one message.
All distribution rules have already been formed and will soon be entered into a smart contract. You cannot change them.
About the lack of information about the AMA session in the STM community. STM is a side project whose coin we have listed on our exchange. They don't have to write about us for their community at all.
The number of users in the Nominex Telegram community is not equal to the number of exchange users. This is logical. After registration, each user is assigned his id, which is charged in order. Today, the number of registered users of the exchange is over 34,000.
After listing, the cost of the NMX token will no longer be fixed. At the moment, the price of 1 NMX token is 1.2 USDT.
We have not deleted any of our posts. They have been deleted by the moderator. We have a proof screenshot of an incoming letter with a notification that our replies in this topic have been deleted.
That's all. Please, if you have any questions, you can ask them in the live chat on the exchange website or in the Telegram community. Thus, you are guaranteed to get an answer to your question, and faster than on this forum. Thank you all for your understanding.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
Friends,
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
Dear friends,
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
NMX tokens will now be distributed within 100 years, and the full process of unlocking the NMX will take from 1 to 3 years – this is not so long. Moreover, you can ALWAYS use all your NMX to fully pay the trading commission on our exchange with a 50% discount (it is 50% cheaper than paying this commission in another currency). It means that if you have bonus NMX on your account, you can pay zero comission in other regular currencies.
What is not so long? Distribution over 100 years or unlocking from 1 to 3 yrs?
So, NMX is only possible to use to pay for your service?
Whatever, you did not answer me, whether all these rules were clearly stated before the start of the campaign, whether the bounty hunters were clearly informed of the payout after 3 years?
Why your decision changes so often and quickly?
His decision about bounty token distribution is directly related to Bitcoin price. If BTC price rising up, extending the deadline for distribution and vice versa. It simply, tokens amounts planned for bounty program will cost is much more than they expected, now they try to reduce it as much as they can.
1. We meant a distribution of free tokens - this is very short compared to the total distribution period of all tokens.
2. No, there are extra features beside of that, and we will integrate new features of NMX in the future.
3. We decided to change the strategy after the start of campaign and we have come up with the best conditions for this. As we said before, free bounty tokens will be distributed during 1 year each day by equal part when the process of distribution of all tokens will be in 100 years.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
Do I get it correctly:
1) Nominex planned to distribute hunters reward in April 2021
2) Then they decided to distribute reward daily during 3 years.
3) After this topic was created, they change their mind and decided to distribute bounty reward in 1 year.
Why your decision changes so often and quickly? If few new accusation topics appear, will you change "fully unlocked within 365 days (1 year)" to half a year ?
Does anyone have a clear explanation, how freezing 0.035% of total supply will influence on the price or how distribution could have a bad impact on it?
1) Nominex planned to distribute hunters reward in April 2021
2) Then they decided to distribute reward daily during 3 years.
3) After this topic was created, they change their mind and decided to distribute bounty reward in 1 year.
Why your decision changes so often and quickly? If few new accusation topics appear, will you change "fully unlocked within 365 days (1 year)" to half a year ?
Does anyone have a clear explanation, how freezing 0.035% of total supply will influence on the price or how distribution could have a bad impact on it?We presented our new strategy on AMA session on 11.11, then we heard a feedback from all our users and decided to to reduce the time of distribution. Is it bad? The decision of 1-year-distribution won't be changed, and the period of a new distribution - 100 years instead on immediately listing of all our tokens will be on a smart contract, so we won't have a possibility to change it anymore.
We decided to change it before this topic was created. We have tens of thousands of users and it is important for us. We try to please the majority of our users, and the vast majority really support our new strategy.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
There should be no explanation or excuse for not fulfilling the terms of agreement. For whatever reason you changed the process of operation you should bear the consequence. Bounty manager should learn to limit distribution to 3 months, anything above that has always been fraud. 3 years is a long time, I can promise that we will be in the bear market by then and you can be off this market, anything can happen in the bear and you know. Honour the term of agreement or the hunters should drag their name in the mud in the media, I will never open an account with Nominex because of this, Never.
NMX for bounty activities will be distributed in 1 year. So the heading of this thread is not a truth.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
We planned to list NMX in April 2021. Then we changed our product strategy to DeFi and decided to list NMX earlier, in December 2020.
Because DeFi is in trends now and we support it, we will add farming and staking features.
We have never and nowhere told that 100% of NMX will be listed in one day. So, we do not contradict our words.
NMX tokens will now be distributed within 100 years, and the full process of unlocking the NMX will take from 1 to 3 years – this is not so long. Moreover, you can ALWAYS use all your NMX to fully pay the trading commission on our exchange with a 50% discount (it is 50% cheaper than paying this commission in another currency). It means that if you have bonus NMX on your account, you can pay zero comission in other regular currencies.
If there is another trend in the next year, surely you will change your strategy to unlock bounty tokens to 1000 years, right?
You should be giving your bounty hunters a nice attitude. You need to remember that hunters can also be exchange users. This inconsistency has given them a bad impression and in the end once your exchange has a small fault it will be a big problem for your future reputation.
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We will integrate this date in a smart contract, so we can't change it.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
1. NMX earned in bounty and live tournaments will be fully unlocked within 365 days (1 year).
Why did you feel it wasn't important to share this detail with the bounty hunters? Surely its something they would have wanted to know ahead of time, is it not?
I'm trying to assess whether there was a rational reason of why the bounty hunters weren't informed of this detail or if this is the beginning of a pattern of dishonest behavior.
We did not block NMX received from bounty – you can still fully use it to pay for trading commission.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.
NMX tokens will be distributed every day in equal parts. And soon after the NMX listing we will integrate mechanism which allow you to stake your locked NMX and get NMX for it, which you will be available to immediately withdraw to another wallet.
Bounty hunters tried their best to promote your exchange yet when your turns give them back, your act disappointing enough to earn bad impression from the community. Indeed good example of unprofessional conduct.
From the very beginning we said that listing should be in April 2021, about which 3 month you are talking? We just try to make the good price of NMX for everyone. You will be able to sell your tokens higher then it might be in our original mechanics. I will clarify why we think so with calculations below.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
1. NMX earned in bounty and live tournaments will be fully unlocked within 365 days (1 year).
Why did you feel it wasn't important to share this detail with the bounty hunters? Surely its something they would have wanted to know ahead of time, is it not?
I'm trying to assess whether there was a rational reason of why the bounty hunters weren't informed of this detail or if this is the beginning of a pattern of dishonest behavior.
We did not block NMX received from bounty – you can still fully use it to pay for trading commission.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.
NMX tokens will be distributed every day in equal parts. And soon after the NMX listing we will integrate mechanism which allow you to stake your locked NMX and get NMX for it, which you will be available to immediately withdraw to another wallet.
Yeah times change and you change things for the bounty hunter for them to suffer and from making them hard to sell their shares its tantamount to making the bounty hunter to work for free in advertising your project.
You don't deserve the community support where you only think that bounty hunters do not deserve to sell their share at anytime they want once they received, you are no different from other scam exchange like Adab who locked token for bounty hunters and do not want to make profit.
What's the point of unlocking all tokens at once if the price might be significantly lower? Do you really want to sell all your tokens for nothing?
Re: NOMINEX - cheating hunters by delaying payment for THREE years
-snip- but you should have included this language before the bounty began and not after it was all over with.
I agree with you, even they are have the rights to change any rules, but if the plans to locked token till one year is not make a sense. Bounty hunter agree to join and promoting even the token trade available on April 2021 (plan when bounty running). All of us never know about this before the campaign are started. For Nominex team, I'm not make a counter to you, I'm just trying to keep your community happy to support your exchange. If the plan can't be change again, just tell us, the exact periode to start & end of unlocking the bounty hunter tokens, so no more question about this. exmp starting unlocked from 1 January 2021 or any date, just confirm it.
Thank you for your support.
We will announce the exact date of start of unlock soon. Approximately the distribution will start in January 2021 (earlier than our original plan – in April 2021). Unlock will be ended after 1 year from the start date.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
We did not block NMX received from bounty – you can still fully use it to pay for trading commission.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.
Of course you blocked it. Can bounty hunters withdraw their tokens off the exchange? If the answer is "no," then its obvious they are being blocked from control of their earned funds. I for one would never deposit coins on an exchange that feels OK with changing their rules after the fact to negatively affect the customer.
I understand you don't want the bounty hunters to all dump their tokens at once, but you should have included this language before the bounty began and not after it was all over with. It's also a bit weird that you are saying the "DeFi trend" is the reason why you changed your policy here. Your exchange's desire to chase this trend shouldn't negatively affect bounty hunters. You should just give them access to their tokens as promised.
You will be able to withdraw some part of your tokens each day.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
Dear friends,
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
1. NMX earned in bounty and live tournaments will be fully unlocked within 365 days (1 year).
Why did you feel it wasn't important to share this detail with the bounty hunters? Surely its something they would have wanted to know ahead of time, is it not?
I'm trying to assess whether there was a rational reason of why the bounty hunters weren't informed of this detail or if this is the beginning of a pattern of dishonest behavior.
We did not block NMX received from bounty – you can still fully use it to pay for trading commission.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.
NMX tokens will be distributed every day in equal parts. And soon after the NMX listing we will integrate mechanism which allow you to stake your locked NMX and get NMX for it, which you will be available to immediately withdraw to another wallet.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
We did not block NMX received from bounty – you can still fully use it to pay for trading commission.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.
NMX tokens will be distributed every day in equal parts. And soon after the NMX listing we will integrate mechanism which allow you to stake your locked NMX and get NMX for it, which you will be available to immediately withdraw to another wallet.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.
NMX tokens will be distributed every day in equal parts. And soon after the NMX listing we will integrate mechanism which allow you to stake your locked NMX and get NMX for it, which you will be available to immediately withdraw to another wallet.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
..
Can you share here what is your bounty program condition before they start? whether anything has changed in the meantime and why if yes?
Quote
1. You can also use all NMX tokens to pay a trading commission on the Nominex exchange 50% cheaper.
So if someone uses NMX token to pay exchange fee, then is 50% cheaper or they can pay 50% in NMX and rest in other regular currency?
We planned to list NMX in April 2021. Then we changed our product strategy to DeFi and decided to list NMX earlier, in December 2020.
Because DeFi is in trends now and we support it, we will add farming and staking features.
We have never and nowhere told that 100% of NMX will be listed in one day. So, we do not contradict our words.
NMX tokens will now be distributed within 100 years, and the full process of unlocking the NMX will take from 1 to 3 years – this is not so long. Moreover, you can ALWAYS use all your NMX to pay the trading commission on our exchange with a 50% discount.
Re: NOMINEX - cheating hunters by delaying payment for THREE years
Hello everyone, dear Nominexians!
We heard you!
With the transition to DeFi, we will be distributing approximately 193 million NMX tokens over 100 years. In the early days, approximately 10,000 NMX will be distributed.
During the first year, only about 3 million tokens will be distributed, this amount will circulate in the market, which is very small compared to other exchange tokens.
This means that this small number of circulating tokens should have a positive effect on the NMX market price.
In this regard, for a more "soft" establishment of the market of already distributed NMX tokens, we classify all previously distributed tokens into two categories: purchased and received for free.
Purchased NMX tokens at DeFi launch will be immediately available for withdrawal to all users in full.
Received free NMX tokens will start unlocking every day in equal shares 30 days after converting NMX to DeFi and will be divided into 2 categories according to the duration of unlocking:
1. NMX earned in bounty and live tournaments will be fully unlocked within 365 days (1 year).
2. Demo tournaments, 1st 2nd phase of distribution among traders, various promo bonuses.
NMX will be fully unlocked for 1095 days (3 years).
Unlocking NMX tokens makes unlocked tokens available for sale on the exchange and withdraw from Nominex to external wallets.
How can locked tokens be used?
1. You can also use all NMX tokens to pay a trading commission on the Nominex exchange 50% cheaper.
2. Plus, a short time after the conversion of the NMX token to DeFi, we will implement the ability to stake locked NMX tokens, which means you can earn additional NMX tokens on this staking, which will be immediately available for withdrawal and sale.
We heard you!
With the transition to DeFi, we will be distributing approximately 193 million NMX tokens over 100 years. In the early days, approximately 10,000 NMX will be distributed.
During the first year, only about 3 million tokens will be distributed, this amount will circulate in the market, which is very small compared to other exchange tokens.
This means that this small number of circulating tokens should have a positive effect on the NMX market price.
In this regard, for a more "soft" establishment of the market of already distributed NMX tokens, we classify all previously distributed tokens into two categories: purchased and received for free.
Purchased NMX tokens at DeFi launch will be immediately available for withdrawal to all users in full.
Received free NMX tokens will start unlocking every day in equal shares 30 days after converting NMX to DeFi and will be divided into 2 categories according to the duration of unlocking:
1. NMX earned in bounty and live tournaments will be fully unlocked within 365 days (1 year).
2. Demo tournaments, 1st 2nd phase of distribution among traders, various promo bonuses.
NMX will be fully unlocked for 1095 days (3 years).
Unlocking NMX tokens makes unlocked tokens available for sale on the exchange and withdraw from Nominex to external wallets.
How can locked tokens be used?
1. You can also use all NMX tokens to pay a trading commission on the Nominex exchange 50% cheaper.
2. Plus, a short time after the conversion of the NMX token to DeFi, we will implement the ability to stake locked NMX tokens, which means you can earn additional NMX tokens on this staking, which will be immediately available for withdrawal and sale.
Re: 🚀 [EXCHANGE] Nominex.io [Zero Risk, Play Demo, Get 📈 1000 USDT daily]
Yeah, very long process. I don't know investors will invest on their money for this much long time or not. Cause most of investors (specially early birds investors) invest on projects for earn some good profit after listing coin. Of course i know make a good quality project is not a easy task and it take some times. But this is much longer than expected. Hope project team have much interesting idea to attractive investors.
The trading fees are lower than Binance's if I am not mistaken. A lot of the purchases should come from traders who want to lower their fees. Plus, affiliates need NMX to advance in referral level to unlock higher tier bonuses.
In conclusion I don't think most of the funds contributed will come from speculation (although it is very enticing), but from the actual use-case of the token.
I just hope that the exchange operations can be sustained from the generated volume. Currently they are generating around $1M/day which should translate (with an average of 0.02% fee/trade) into $200/day = $6000/month. I'm sure the volume will increase once trading bots/APIs are introduced + the futures.
If you actually try their exchange you will see how bad it performance is. It is lagging a lot of the time, sometimes you have to wait over 5 min just to open the website.
Plus 50% of tokens are in devs pocket. As I calculated to mainaint the 1$ price per token they would have to be at the bottom on top 100 cmc which is impossible with current exchange.
If the exchange is lagging with that few users what will happen if more join? Do not hate me for that I'm always trying to say the truth beacuse there is no other way.
Yes, we have some bugs, but we fix it fast. With each day our exchange becomes faster and more stable.
By the way, we're already in Top-50 on CoinMarketCap
That's quite achievement for relatively new exchange. Congrats! I hope you will gain more traders as I'm seeing that in the near future I will use your exchange as the liquidity is quite good. But I am wondering if your NMX token is to be converted as DeFi token, will the target price still at $1? Or it may increase according to the demand? Is this going to be backed by real assets?
Thank you for your words! We won't stop to grow in this rate.
More details about the price will come closer to the conversion to DeFi. Follow our updates in our Telegram channel – https://t.me/nominex_announcements
Re: 🚀 [EXCHANGE] Nominex.io [Zero Risk, Play Demo, Get 📈 1000 USDT daily]
The exchange has improved. I have tested it recently and the lags disappeared. Good job
Happy to hear it, thank you for your support!
Re: 🚀 [EXCHANGE] Nominex.io [Zero Risk, Play Demo, Get 📈 1000 USDT daily]
Haye guys when NMX will start trading? to
You guys should change "Year Established" from 219 to 2019 on coingecko
https://www.coingecko.com/en/exchanges/nominex#about
You guys should change "Year Established" from 219 to 2019 on coingecko
https://www.coingecko.com/en/exchanges/nominex#about
NMX will be listed soon, right after convertation to DeFi.
Thank you for bringing it to our attention
We will edit info on CoinGecko soon.Re: 🚀 [EXCHANGE] Nominex.io [Zero Risk, Play Demo, Get 📈 1000 USDT daily]
I saw on your website:
365 Days of NMX Distribution
NMX token powers the whole Nominex exchange giving the ultimate benefits to all NMX holders
Explore multiple ways of receiving NMX Token and make a choice!
So we need buy and hold to get reward?how long we need hold?After 365 days or we can get reward if we hold all 365 days
365 Days of NMX Distribution
NMX token powers the whole Nominex exchange giving the ultimate benefits to all NMX holders
Explore multiple ways of receiving NMX Token and make a choice!
So we need buy and hold to get reward?how long we need hold?After 365 days or we can get reward if we hold all 365 days
Very soon, with a conversion of NMX into DeFi, we will announce staking and farming. Stay tuned and follow our Telegram announcements channel – https://t.me/nominex_announcements.