In 2022, the reward token network will be a new trend in the cryptocurrency market. Since the traditional charge system is filled with problems and urgently needs an overhaul, which generally takes days to complete a transaction with extra fees and inadequate security. On this front, blockchain fee providers like Nexus Project are rising to the occasion to produce a significant distinction, providing environment-friendly cost providers while also significantly lowering all of the obstacles in this trade.
Nexus Dubai Project (Nexus) is a cutting-edge open-source blockchain technology that aims to improve the world through superior peer-to-peer networks and digital currency. Nexus addresses the bitcoin industry’s existing speed and scalability concerns with the world’s first 3D Chain. The Nexus Project aims to provide digital incentives for people’s daily consumption behavior that are secured in value by a decentralized ecosystem.
Digital rewards/points services, which have become a part of our daily lives, have shifted from being a mere “discount program” to being used as a “measure to attract and retain customers” in the web 1.0 〜 2.0 era.
Nexus Dubai Project’s native token, the NXD can be staked by token holders with Nexus’s validator nodes to earn rewards. The rewards are distributed and designed to incentivize long-term holding. In decentralized finance, liquidity farming & staking are very much dictated by the Annual Percent Yield, or APY. Given the current risk/reward nature of the DeFi industry, there exist very attractive APYs, oftentimes over 100%, which have driven aggressive growth in the ecosystem. This signifies the reward NXD tokens will not be instantly exchangeable to NXD tokens.
This design principle is to encourage long-term holding. There will also not be any large token unlocks for private investors or even the founding team. The team tokens and the tokens purchased by early investors will all be subjected to a slow linear vesting schedule with no cliffs. And with a strong emphasis on Polygon being a community-focused project.
Currently, Nexus concentrates on the following unique selling points: expansion of the number of stores using the system, locally-based payment system, attracting inbound customers, and Incentives to attract customers. Currently the Nexus Project, in partnership with various companies in the UAE, can be used in many retail stores, restaurants, etc., mainly in Dubai and Abu Dhabi. Payment can be made easily at a wide range of places including large shopping malls, supermarkets, food deliveries, hotels, etc. Since incentives are provided, it is possible to enclose inbound commercial areas. The payment application will be updated to display store locations and recommended products to show that there are more attractive participating stores and improve the settlement rate.
By fostering these four factors, all users’ lives will be better through a shared settlement system, and a new economic zone will be formed. Nexus enables any decentralized project to produce a synthetic version of its token that is tied to demand as an intermediate rewards scheme, reducing the number of native tokens issued into circulation dramatically. As the network expands, this distribution method helps projects maintain scarcity while boosting benefits for long-term users. “Such an economic concept can lead to a high and unstable devaluation rate for all staking rewards and network incentives,” says Nexus. It effectively makes hyperinflation one of the blockchain industry’s most difficult hurdles.”
The idea here is to ensure that token holders in the project are incentivized to stay invested in Nexus Dubai Project and are rewarded for their long-term support. Nexus believes a community-owned oracle is not only possible but essential to creating a truly decentralized financial system.
Nexus Project isn’t solely deploying blockchain-powered fee providers to retailers however reasonably it has built-in digital rewards/factors providers. Being one of many first movers on this innovation, Nexus Project is taking all the fitting steps to set the precedent for blockchain-based digital rewards/factors fee providers.