- Nimiq launches a pre-staking campaign with $200M NIM in rewards.
- PoS move seeks to reduce energy usage while increasing decentralization.
Nimiq, a Layer-1 blockchain focused on payments, has announced a new pre-staking campaign for its native token, $NIM.The campaign marks a significant milestone in the project’s shift from a Proof-of-Work (PoW) to a more energy-efficient Proof-of-Stake (PoS) system. As part of this transition, $NIM holders are invited to participate and earn rewards. A total of 200M NIM is available for distribution among participants. Early entrants will enjoy additional benefits, enhancing their rewards further.
Nimiq’s Transition to Proof-of-Stake
Nimiq is a decentralized payment network based on its own blockchain that provides rapid and low-cost transactions. The platform intends to establish a globally accessible, user-controlled monetary system, and the PoS migration is a big step toward that goal. Nimiq also offers its customers passive revenue potential through staking.
The pre-staking project is aimed at strengthening network security while Nimiq prepares for a full transition to PoS, which will improve decentralization and minimize blockchain energy usage. The network intends to encourage early participation by providing considerable benefits to those who pre-stake their NIM tokens.
Participants can maximize their earnings by staking early, choosing underrepresented validators, and completing Nimiq objectives. The program runs from October 7 to November 10, 2023, with rewards available. In addition to the 100 million NIM allocated for pre-staking, we are excited to announce that we will distribute an extra 100 million NIM as a bonus gift. This exciting incentive aims to boost engagement and reward our community members. The firm will award the bonus to randomly selected early adopters, creating an opportunity you won’t want to miss.
Max Burger, Ecosystem Developer at Nimiq, remarked that the long-awaited transition to Proof-of-Stake marks a significant milestone for the project. He emphasized that this shift signifies the beginning of a new era for Nimiq. And it decreases energy consumption and enables near-instant transactions, improving the payment experience.
As Nimiq approaches its PoS migration on November 19, the pre-staking campaign will ensure that the network is prepared for this critical milestone. Participants can track their staking progress and earn rewards via the dedicated dashboard.
Nimiq’s pre-staking program provides significant benefits and fosters community interaction while positioning the network for global expansion.
