04.04.23 — Time-Lock Staking is Here!

Time Lock Staking has arrived, offering Nemesis Pro users an alternative means of earning higher staking rewards through a smart contract by locking their tokens for a designated period of time. Users can select the duration of the lockup period, with longer periods resulting in greater rewards. Our goal following this method is to encourage users to commit to the network for a longer period, contributing to its stability and security. This feature also provides the user NMS LP tokens as well, making it an important step for the integration process of Nemesis Network.

Time-lock staking allows users to lock up their tokens for a predetermined period of time in exchange for boosted staking rewards and loyalty points. Users have the option to choose from three lock-up periods: a 2-month locker, a 4-month locker, or a 6-month locker. It is important to note that a minimum of 10 NMSP is required to use time-lock staking, and once tokens are locked, they cannot be withdrawn until the timer expires. Cancellation or withdrawal is not possible once the locking action is taken.

2-Month Locker: For every 10 NMSP locked, users will earn 1.0 NMS LP.

4-Month Locker: For every 10 NMSP locked, users will earn 2.5 NMS LP.

6-Month Locker: For every 10 NMSP locked, users will earn 5.0 NMS LP.

The table presented in our whitepaper page demonstrates a scenario in which 100 NMSP is locked in different lockers. While the APY gradually increases over longer periods, it should also be noted that longer lock-up periods provide a much higher number of loyalty points for every 10 locked NMSP tokens.

Note: Future locker APY’s may change according to Supply Control Policy; however, this change in the APY does will not affect already sealed lockers.

The introduction of Time Lock Staking also provides Nemesis Network users with another way to earn Loyalty Points. In addition to the time lock, these rewards are given to recognize and reward users who have shown commitment to the project. To incentivize users, 30% of NMS LP will be given immediately upon opening a locker, with the remaining 70% provided after the locker expires.

As stated above, users will receive 1.0 NMS LP for every 10 NMSP tokens locked in a 2-month locker, 2.5 NMS LP for a 4-month locker, and 5.0 NMS LP for a 6-month locker.

Nemesis PRO’s new time-lock staking feature provides users with several benefits. The feature provides enhanced rewards in the form of NMS LP tokens and higher NMS rewards compared to single staking, incentivizing users to participate in time-lock staking and thereby increasing their potential returns. Moreover, the NMS LP tokens are distributed in a phased and scaled manner, incentivizing users to remain committed to the protocol for a longer period. By earning both staking rewards and NMS LP tokens, users also have the opportunity to diversify their portfolios, reducing risk and maximizing potential returns.

In addition to the benefits outlined, Time-lock staking can increase the total-value locked and reduce NMS token circulation, potentially increasing demand and value. It can also prevent market instability caused by short-term traders and contribute to long-term project stability.

We sincerely thank you for your patience. Our next update for Nemesis PRO will introduce Pro Stake Pool, which will enhance the diversity of staking options available to our users.

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