WELCOME TO NEMESIS NETWORK QUARTERLY REPORT
It’s been a while since our last Medium update since the current situation of the market is evident, we’ve decided to turn to quarterly updates with the purpose of both creating an orderly Medium and a healthy flow of information to our users.
We have much to report, without any further ado let’s delve into our first quarterly together.
UPDATES ON THE ECOSYSTEM
2X Reverse Auctions are live. They offer our users a great opportunity to earn NMS LP by bidding with NMSP tokens. You can join the competition rounds and earn rewards by placing 1st place to 5th place. Keep in mind that winners do not get their biddings back and players who dropped from the TOP 5 will get 90% of their biddings back, meaning 10% of the fee will be deducted after expelling from the leaderboard.
“HELENA BLESSINGS” IS LIVE
Introducing Helena Blessings: Sacrifice your HELENA to receive NMSLP blessings
Nemesis Network has now expanded with the introduction of Helena Blessings. This new addition offers a reliable way to earn loyalty points while offering a fun time with its gameFi nature. The integration process between Helena and Nemesis had progressed smoothly, with many features seamlessly working together to enhance the Nemesis Network’s unifying feature, the NMS LP Reward Pool.
Benefits of Expanding The GameFi Section
Playing the same games repeatedly can be boring, and since everyone has different tastes, it is important to diversify what Nemesis Network has to offer to appeal to a larger user base. By providing a variety of experiences, users can have a more enjoyable time on the Nemesis Network and discover new games that match their interests.
While Helena Blessings offers a gameFi way to earn Loyalty Points, it also enhances the Loyalty Pool experience and bolsters the deflationary nature of Helena. When you play Helena Blessings, 50% of your deposits will be burned, and the other 50% will be converted into BUSD and added to the NMS LP Reward Pool. So not only are you earning NMS LP tokens and burning HELENA V2, but you’re also contributing to the overall reward pool.
How to Participate
Sacrifice your Helena V2 tokens to earn NMS LP tokens in return.
The minimum amount of Helena V2 to play Helena Blessings is 1 and the maximum amount is set to 100 Helena V2. The Blessings game is quite different from the traditional games that require the selection of a particular number. Instead, in Helena Blessings, users simply sacrifice their Helena V2 tokens and enjoy the Loyalty Point rewards that come their way!
Users always get NMS LP tokens regardless of the outcome, although bigger numbers have higher bonuses. NMS LP rewards are calculated using the formula HELENA V2 spent * Blessing Payout, the multipliers shown in the table below.
There are six possible outcomes and keep in mind that you have an equal chance of scoring any number!
Helena Blessings adds variety and expands the GameFi section of Nemesis Network while strengthening the ecosystem by burning HELENA V2 and also contributing to the Nemesis Network by bolstering the Loyalty Pool with BUSD. It is a great opportunity for those who wish for a solid and quick way to earn Loyalty Points
About 2X Auctions
Drex has made an announcement on Discord & Social Media channels about Auction Bonds. Due to the NMSP price still trading below the 90-day average, therefore the second bond will also be a reverse bond, he stated.
The Reverse Bond allocates 1% of the remaining NMS LP in the bond contract for each round, and the rewards decrease as the bond depletes. Bids are placed using NMSP tokens with a minimum bid of 0.5 NMSP. If no bids occur within a window, the top five bidders share the rewards, while winners don’t get back bidding tokens, Players who drop from the leaderboard receive 90% of bidding amounts back. 50% of the collected NMSP is burned, and 50% is converted to BUSD for the Loyalty Reward Pool.
Link to Announcement (Discord)
ROADMAP & FUTURE OF NEMESIS NETWORK
As the Nemesis Network Team, we are proud to complete the roadmap of Helena Financial, Helena Blessings being the final step of the roadmap. There are currently no further developments or new features planned for Helena Protocol. While rebranding Helena is always an option, it is not something we are considering anytime soon. If we decide to pursue something new, we will either offer whitelist spots, or an option to vest your Helena tokens and convert them into a new token with multiplied returns in the event of a rebranded DeFi project. Until then, Helena will continue to operate as it is with its current features.
For Nemesis, we are still diligently working on its final update: Pro Pool and it will be released when it’s fully tested & ready. We want to express our most sincere gratitude for being with us along the road. We are proud of what we’ve accomplished together and will keep innovating the DeFi together.
That’s all for this quarter’s update. Please do keep following us on social media to keep yourselves updated for any updates that we may announce.
Discord (Helena): https://discord.com/invite/ht2N3vrdv9
Discord (Nemesis PRO): https://discord.gg/b8CUaukZn6
Telegram (Helena): https://t.me/helenafinancial
Telegram (Nemesis PRO): https://t.me/nemesisdao