This is interesting but I think you could do a better job explaining it. For instance, NOS is a utility token.
It gives a 50% discount on conversion from/to USD/Nollar??
How does that work, is it 1 token per 50% discount? So if I want to convert 10 Nollars to USD I need 10 NOS to get 50% discount n the fees.
What are the fees and how are they regulated and who decides this?
Where can I buy NOS? How much are they currently costing? Can they even be traded?
How many NOS are there going to be at maximum?
Are you planning to burn them as part of the fees, I think I saw something like 20% of NOS will be burnt with each transaction?
How will that help since they will only ever have vale of 50% of current fee?
Maker have a new tech about to arrive that will allow ~500 transactions for 1 us cent making feeless seem less of an attraction with the conversion to/from USD costs of this coin.
This all sounds good in principal but seems to be full of holes. This causes lots of red flags to go off for me.
Please set me straight.
Hi,
thank you for the interrest in our project. First i would recommend that you read our whitepaper 2.0.
Regardless i will give you a quick run-down:
NOS has its own independent network just like Nano. The native currency of the decentralized NOS networks is called NOS (XNOS).
It is not a "token" but a "coin" In the future it will be possible to have our own token standard NOS-20 for example.
Nollar on the other hand is our stablecoin which also has its own network. Its all part of the NOS ecosystem. There will be more stablecoins like the Neuro and Nound in the near future.
Nollar is 1:1 backed by USD and is not a synthetic or algorithmicly backed stablecoin like Tether and its also not an ETH token like 90% of stablecoins that cant be sent p2p without a small ETH balance to cover gas.
In regards to the maximum number of coins thats even explained in the Bitcointalk front page but ill post it here again: NOS our decentralized cryptocurrency has a max supply of 1 Billion XNOS. (Yes we have an actual max supply not a total supply like 99% of coins or tokens)
Where can it be trade? I would recommend you go to our telegram news chanel or main english group as we post updates every single day. Our next listing is coming up in 2 days actually.
Now to the last point regarding the fee structure:
Since we established that NOS is a simple p2p cryptocurrency like Nano where does the utility come from? Well its simple we the NOS project give it "added value" by allowing users to recieve 50% reduced fees on Nollar cashouts via our fiat gateway or
www.nollar.orgThe base fee for cashouts is 0.4% (minimim cash in/out is 200$). Lets say you cashout 1000 Nollar to your bank account then it would cost you $4 in fees. Unless you can cover the fees 1:1 with NOS (XNOS) then its reduced by 50% so you only pay $2. We additionaly garantee a redeemable value of $0.012 per NOS. So if the price on the open market is more then its great for you. If its lower than $0.012 then its still also great for you since that value is garanteed if you want to move a lot of Nollar out into fiat. Yes correct we do burn 20% of all NOS(XNOS) used in these conversion. This effectively makes NOS hyper-deflationary.
Hope this clears up some of your questions
