Last updated: 2024.2.17
$NXY Cash Whitepaper
We began in search of an elegant solution to the "commons" problem: offering sustainable infrastructure to an ever-growing global community, using purely economic incentives, built directly into a provably fair protocol.
What we discovered was How-to financially support Creators with NO strings attached, indefinitely!
$NXY introduces the Polymorph NexScript contract as a fairly launched community token over the Nxy L1+ network. Polymorph v1 is packed with over 10M+ mutable proof-of-work (PoW) mining algorithms, offering indefinite* rewards for both CPU and GPU mining participants.
Our primary goal is to promote a MASSIVE wallet distribution of $NXY, and effectively demonstrate the ability for ANYONE (including mobile phone users) to fairly mine for ANY Nexa-tokenized asset just by using the proof-of-work (PoW) power generated from A SINGLE CPU!
* In the event that remote services are disrupted, the contract can continue indefintiely in PUBLIC mode.
Introduction
Nxy is a decentralized Social Finance (SoFi) network, built on the Nexa 100K+ TPS (Layer 1) blockchain, providing safe & secure Spaces for Creators to Dream, Build & Profit from their own exclusive token economies.
How much Power does it take to Change The World?
Well.. it takes just 1.337 kilo-watts (and a few hours of patience) to generate the proof-of-work (PoW) required to mine 10,000 $NXY from ANY web-enabled mobile device.
And then from there...
It costs approx. 1,000 $NXY to register & setup a new Space It costs approx. 4,000 $NXY to initiate a new Token Economy It costs approx. 2,500 $NXY to setup an Automated Trading Pool It costs approx. 2,500 $NXY to setup an Self-managed Marketplace
and then… skies the limit!
NXL Mining Rewards
NXY has a simple rewards emission schedule that decreases the mining reward amount every 64,800 blocks (about 90 days).
The mining reward amount is governed by the following calculation:
currentSeason =
(currentEpoch / seasonLength) + 1
miningReward =
genesisMiningReward / currentSeason
currentSeason = (currentEpoch / seasonLength) + 1
miningReward = genesisMiningReward / currentSeason
Mining Rewards Table
The circulating supply of NXL approaches 21 million over a very long period of time, but the supply will never reach that value. The following table summarizes the maximum possible circulating supply of NXY over time, assuming mining is kept in perfect sync with the underlying Nexa blockchain.
| Time Since Genesis | Block Reward | Total Rewards (in millions) |
|---|---|---|
| 0 d | 0 | 0 |
| 1 d | 50,000,000 | 36,000 0.17% |
| 30 d | 50,000,000 | 1,080,000 5.14% |
| 90 d | 25,000,000 | 3,240,000 15.43% |
| 180 d | 16,670,000 | 4,860,000 23.14% |
| 1 y | 10,000,000 | 6,750,000 32.14% |
| 2 y | 5,560,000 | 8,517,850 40.56% |
| 5 y | 2,380,000 | 11,162,954 53.16% |
| 10 y | 1,220,000 | 13,293,493 63.30% |
| 25 y | 500,000 | 16,471,472 78.44% |
| 50 y | 250,000 | 18,688,829 88.99% |
| 100 y | 125,000 | 19,797,507 94.27% |
| 1,000 y | 12,500 | 20,783,007 98.97% |
| 50,000+ y | < 500 | < 21,000,000 |
What are Token Mining's MOST attractive Benefits for Creators:
- Greater accessibility. Grow your community beyond traditional markets and boundaries. Tear down the walls constructed by permission-seeking gatekeepers.
- Greater transparency. Allows our team to share and earn the trust of our community.
- Greater sustainability. Maintenance is built directly into the protocol, allowing for perfect alignment of incentives to succeed with the community.
Learn how Token Mining (w/ Polymorph) has helped projects grown their own communities. Listen to founders describe the direct benefits introduced from this better way to distribute crypto assets.
Greater Accessibility
“ It's beautiful to see a crypto community that's built for the other 99%. Nxy makes me feel like I finally belong to a place that understands what I care about. ”
Token mining allowed this community to reach individuals that would never have been accessible without the permissionless accessiblity offered by Polymorph mining contracts.
Introducing a Wise Delegate Contract Template
(featuring Nexa's exclusive `OP_EXEC` command)
The Polymorph contract, used to manage PoW mining for NXY, introduces an all NEW Delegated Script specification. It allows ANY wise contract to be mutated at the command of its Creator(s); offering equivalent capabilities as Ethereum's `delegate_call` command, which enable the countless dApps that depend on "upgradeable" EVM contracts.
Wise Delegate templates offer infinite creative possibilities for Script authors, while still conforming to "clean" Nexa-style template standards and maximum interoperability.
<09504F4C59504F573031> <OP_DROP> [ PUSH template placeholder ] [ PUSH fair-access code ] [ PUSH miner address ] [ PUSH submission candidate ] [ PUSH # params ] [ PUSH # returns ] [ PUSH Script template ] <OP_1NEGATE> <OP_PLACE> <OP_HASH160> <OP_FROMALTSTACK> <OP_EQUALVERIFY> <OP_EXEC> 👆 where the *MAGIC* happens ✨
<09504F4C59504F573031> (read. POLYPOW01) <OP_DROP> [ PUSH template placeholder ] `0` [ PUSH fair-access code ] `73481f32a930fe98a4a0d481f32a930fe98a4153` [ PUSH miner address ] `30fe97a0d481f32a96d5bb8a41533b70631bb257` [ PUSH submission candidate ] `1337` [ PUSH # params ] `53` [ PUSH # returns ] `0` [ PUSH Script template ] `6C6C6D51` 👈 PoW algorithm ⛏️ <OP_1NEGATE> <OP_PLACE> <OP_HASH160> <OP_FROMALTSTACK> (Polymorph template hash) <OP_EQUALVERIFY> <OP_EXEC> 👈 this is where all the *MAGIC* happens ✨
Contract / Script Template
09504F4C59504F573031 754FE9A96C88ED
09504F4C59504F573031754FE9A96C88ED
Unique NAMESPACE is the ONLY configuration required by Script authors (a namespace is required to ID each individual *delegated* Script template)
OP_EXEC (0xED) is a Script command exclusive ONLY to NexaContract / Script Template Hash
90D3B53F09E8430BD4D51 9243071090D6CB60F96
90D3B53F09E8430BD4D519243071090D6CB60F96
This is the Script ID for Polymorph PoW version 01
Disclaimer
"Nxy" is a decentralized finance (DeFi) application built on the Nexa blockchain. It is NOT a registered financial institution and is not subject to regulation by any government agency. By using this product, you understand that you are participating in a decentralized, open-source project and that the developers of the product make no guarantee of its performance or security.
Investing in this product carries a high degree of risk, including the risk of losing all or a portion of your investment. The product is intended for use by experienced cryptocurrency investors who understand the risks associated with DeFi applications and blockchain-based investments. The product does not guarantee any returns and past performance is not indicative of future results.
The product is built using smart contracts and is open-source. By using this product, you represent that you understand the risks associated with DeFi applications and are willing to assume them. While the developers have taken reasonable steps to ensure the security and integrity of the contracts, there is always a risk of bugs, errors, or other issues that could result in the loss of your investment.
The product makes no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the product or the information, products, services, or related graphics contained on the product for any purpose. Any reliance you place on such information is therefore strictly at your own risk.