4. NXN Distribution Status

1. NAXION Network and NXN Coin Mining Process

NAXION operates as a public Layer 1 network where NXN coins are issued through a mining process involving node provisioning and reward distribution. The required hash rate increases as more NXN coins are mined.

2. Unlimited Supply and Mining Structure

NXN coins have no cap on total issuance. Each block mined generates 5 NXN coins. The network allows anyone to operate nodes and earn NXN as rewards.

3. NXN Coin Utilities

Transaction Fees: Used to pay transaction fees within the network.
Smart Contracts: Utilized for executing smart contracts and DApps.
Staking: Users can stake NXN to secure the network and earn rewards.
Governance: Coin holders participate in decision-making processes, voting on network upgrades and policy changes.

4. Network Status

The NAXION network status can be checked at Naxion Explorer.

5. Current Mining and Distribution

As of June 25, 2024, 36,950,805 NXN coins have been mined. The distribution ratios of NXN change as the mining volume increases.

6. The amount of NXN coins held by the NAXION Foundation is 10,627,388 and the distribution status is as follows.

Develop Team | Project Develop Team 30% Founder | Project Owner & Investor 25% Nverse Inc. | Company holds NXN for Setting up Naxion Eco System 25% Partners | Partner Companys & Advisors 20%

7. For the stable spread of Naxion Network, NXN coins distributed to Founder, Partners, and Team have a lock-up period

8. NXN coins that would be used as air-drop, event rewards, etc. for the development of the Naxion ecosystem do not have a lock-up period.

9. Regardless of Nverse Inc., NXN coins distributed on the network via the node provided for the public network Naxion and the reward for it do not have a lock-up period.

Precise information on coin sales will be notified via the following channels.

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Last updated 4 months ago

Lock-up Period

None

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