Nanovest agrees to purchase NBT at market price to support Nanolympics campaign
Many of you have probably heard about Nanolympics, exclusive campaign for NBT holders on Nanovest in Indonesia that will run from 22 July to 20 August 2022.
I guess the main question from NBT holders is the following: does this mean price will dump because we give more NBT token to users? The simple answer is No and in this article we will share why.
Nanolympics can only be joined by those staking NBT on Nanovest for at least 6 months
Yes you heard it right. The prize pool worth of more than IDR 5 billion (~USD 350,000) can only be won if you stake minimum 100 NBT on Nanovest app. This will hopefully create extra buying pressure because without being long term NBT holders, you cannot participate in Nanolympics
Nanovest agrees to purchase NBT at market price with no discount at all
The more reward Nanovest gives to its users, Nanovest will purchase NBT and transfer IDR fund to NBT treasury based on market price users receive their NBT. It means that the more reward Nanovest gives, fund in NBT treasury will get bigger. Bigger NBT treasury means NBT team can use it to weather trough bear market, from reinvesting the money to buying back NBT from the market. So to make sure NBT treasury is getting bigger, please continue to promote Nanolympics because it will be good for NBT holders!
That’s it for today. Hope everyone is doing well.
Tommy, on behalf of Nano team