A Brief Introduction of NBS System “Three DEFI” Mining Mechanism

NBS has planned a permanent operation and recycling mining system since its launch. Due to the long text of the specific mechanism, the key contents are briefly introduced as follows:

1.About NCN mining

The reward token is NCN (New Council Points), with a fixed total of 1.2 billion, which is gradually mined in the form of regular halving similar to BTC mining, and will never be issued more.

2.The repurchase and burn mechanism of NCN

The system will use NBS to repurchase NCN every month to ensure the value of NCN. The NBS system has planned nearly 600 million NBS as a mining pool for repurchase NCN. A fixed monthly expenditure of 4.5 million NBS from the mining pool is used to repurchase NCN from pending orders, and 40% of the system’s current monthly revenue is also used to buy back NCN from pending orders. The NCN repurchase price has an increasing mechanism: after the system places an order, if the repurchase order is completely traded within a month, the repurchase price will remain the same in the next month; if it is not fully traded, the repurchase price will increase by 5% in the next month. All repurchased NCN will be burnt. The current NCN repurchase price is 0.25NBS.

3.Aout lock position mining

Buying the lock position voucher MINER on the NBS inner market with NBS is regarded as participating in lock position mining. A total of 360 million NCN is planned for lock position mining, and 3.75 million (about 535,700 per day) NCN is output every week. All inner market mining accounts holding MINER will distribute the reward equally, and the daily reward will be automatically distributed to the account. For every half of the 360 million NCN output, the reward will be halved, the mining reward will be halved every 48 weeks. Currently, the first halving is expected at the end of August.

4.About stake mining

Buying the stake mining certificate SCNY with nbCNY in the NBS inner market to participates in stake mining. Stake mining is the same as locked position mining. A total of 360 million NCN is planned, and 3.75 million (about 535,700 per day) NCN is output every week. All inner market mining accounts holding SCNY will equally distribute the reward, and the daily reward will be automatic distribute to the account. For every half of the 360 million NCN output, the reward will be halved, that is, the mining reward will be halved every 48 weeks. Currently, the first halving is expected at the end of August.

5.About referral mining

Use NBS++ wallet to referral newcomers to register for an account and buy MINER and SCNY to participate in mining, then the referrer can enjoy the referral mining revenue. The referrer’s daily income is approximately 10% of the total referral per year. The referrer’s own mining quantity must be more than or equal to the referee’s mining quantity, otherwise the referral mining revenue will be reduced accordingly. The referral mining plan is 300 million NCN, and the reward is halved for every half of the output. At present, the referral mining output per week is about 1.6 million NCN, and it is expected that it will take more than a year to halve.

6. About on-chain data and mining yield rate

The total amount of NBS is 3.6 billion, and the circulation is about 1.85 billion. At present, lock position mining (MINER) locks about 280 million NBS, SCNY locks about 7.8 million nbCNY, and based on the current price of 0.084, stake mining (SCNY) locks about 195 million NBS. NCN currently mines about 36 million per month, and monthly repurchase and burnt about 18 million. After the halving at the end of August, the monthly output of NCN will drop to about 22 million, while the repurchase intensity of NCN will remain as before. Lock position mining is the currency standard, and you can enjoy the rise and fall of the currency price while gaining income; Stake mining is the gold standard, and the stable currency mining is used to avoid the risk of currency price fluctuations while gaining income. Since the start of mining, lock position mining plus recommended mining has maintained an annualized rate of return of more than 20%; Stake mining combined with recommended mining has maintained an annualized rate of return of more than 70%. If there are any inaccuracies in the above introduction, please refer to the official announcement on the NBS official website.