The Good Tech Companies - Nimiq Kicks Off Its Long-Awaited Migration to PoS With 200 Million In Rewards

Episode Date: October 7, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/nimiq-kicks-off-its-long-awaited-migration-to-pos-with-200-million-in-rewards. This initiative not only offers substantial rewards to early participants but also paves the way for the network’s transition to a more energy-efficient, decent Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #nimiq, #chainwire, #press-release, #nimiq-announcement, #layer1-blockchain, #pos-system, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Nimic kicks off its long-awaited migration to POS with 200 million in rewards.by Chainwire. Berlin, Germany, October 7, 2024, Chainwire, asterisk layer 1 payments blockchain Nimic has announced a pre-staking campaign for dollar NIM holders, marking a crucial step towards its highly anticipated migration to proof of stake, POS. This initiative not only offers substantial rewards to early participants but also paves the way for the network's transition to a more energy-efficient, decentralized POS consensus. NIMIC is preparing to upgrade its consensus algorithm from proof-of-work, POW,

to proof-of-stake, POS. Pre-staking is an essential step for the successful transition to NIMIC POS, as a secure migration depends on maximizing the total amount of dollar NIM pre-staked and distributing it across as many validators as possible. The pre-staking rewards campaign incentivizes all NIMIC holders to upper stake and contribute to a more decentralized NIMIC network. Participants can increase their chances of receiving bonus rewards by optimizing their pre-staking strategy through various multipliers, staking early for a time-based boost, choosing an underdog validator to promote even distribution across all validators, and increasing their ranking in the Nimic space by completing

Nimic quests. Nimic's pre-staking program can be accessed by logging into the dedicated dashboard created for the campaign. Here, community members can register for the pre-staking program and select the Nimic account address they intend to use for pre-staking. You can find more details in Nimic's blog post announcement. Greater than, Nimic's long-awaited migration to Proof-of-Stake marks the beginning of a greater-than-completely-new era for the project. Not only does it drastically reduce the greater-than-blockchain's energy consumption, but more importantly, it introduces greater-than-near instant transactions for a significantly enhanced payment experience. Greater-than-once the migration is complete,

we can focus on expanding NIMIC's global greater-than-adoption to make NIM the most widely accepted cryptocurrency on the planet. Greater-than-Max Berger, ecosystem developer at Nimic said. The pre-staking program will run from October 7 until November 10 with participants eligible for rewards that will be directly claimable within the pre-staking dashboard. In addition to sharing 100M in dollar NIM pre-staking rewards, participants will be eligible for a bonus giveaway earmarked for community members who join the campaign at the earliest opportunity. Winners of the bonus giveaway will be drawn at random from eligible entries over the course of three rounds,

resulting in 100 pre-stakers receiving additional dollar NIM rewards. This results in a whooping 200 million NIM allocated for pre-staking rewards and giveaways. Through maximizing participation in its per-staking campaign, NIMIC will ensure that its network is ready for the subsequent activation phase and the migration to proof-of-stake, planned for November 19. About NIMIC NIMIC is a decentralized payment system built on a unique blockchain. Its financial ecosystem includes a digital currency, fast payments, cheap remittances, and passive income available to everyone. NIMIC's upgrade to proof-of-stake will support its goal of serving as a sustainable monetary system where individuals are in full control of their own money,

can use it globally and use it to achieve financial freedom. Learn more. http://www.nimic.com Disclaimer Participation in the Pre-Staking Reward and Bonus Campaign is subject to restrictions. United States citizens are green cardholders, as well as residents of countries under U.S. trade embargoes or sanctions, as listed by the U.S. Department of the Treasury's Office of Foreign Assets Control, OFAC, are note-eligible. NIMIC reserves the right to verify participant eligibility, including residency status, and may disqualify individuals who provide false information. Additionally, any unauthorized manipulation

or use of prohibited aids will result in exclusion from the campaign. The campaign may also be modified, suspended, or terminated due to unforeseen circumstances, including unauthorized third-party interventions or technical issues. Team members of NIMIC, the NIMIC Foundation, and related entities such as ImpactX Charity are also barred from participating. Contact Dasa Kaplan PR at marketacross.com. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. And thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.