[ANN] NOLLAR - first USD stablecoin with instant & feeless transactions

[codesuela]

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[ninavera]

I downloaded and installed the wallet. Already even received a bounty coin. The wallet is very fast, easy to use and understandable even to beginners.

[fudster]

Minimum fee is better but feeless is something we have been looking for in crypto, this should be one of the project that is going to be supported however though there would be no reason for users to hold the token after all, nothing makes its price to go high. Take for instance BTC, it was wasteful coin when it comes to resources, miners will have to pay huge for their electricity bill but that also makes its price go up because not all of them are going to sell their mined coins for a low price.

How do you make this USD stable?

[aprilnot]

stable coin in the Nano network, not bad hopefully this project can be number one replacing tether.

because I like Nano maybe I will support this project.

[takngantuk]

one more stable coin project ... good luck guys

My advice for the devs team should be to move quickly to register their coins in the big markets so that their projects are more attractive.

[node8]

how is NOS connected with NOLLAR?

[bruges]

how is NOS connected with NOLLAR?

NOLLAR is a stable coin backed by USD 1:1.
NOS is utility token, it can be used to pay fees when you want to convert NOLLAR to USD.

[lapyshka]

I downloaded the wallet. Everything is simple and clear. I like that the NOS platform offers instant, sensual and green transactions.

[Tactical Genius]

Minimum fee is better but feeless is something we have been looking for in crypto, this should be one of the project that is going to be supported however though there would be no reason for users to hold the token after all, nothing makes its price to go high. Take for instance BTC, it was wasteful coin when it comes to resources, miners will have to pay huge for their electricity bill but that also makes its price go up because not all of them are going to sell their mined coins for a low price.

How do you make this USD stable?

Exactly ,my question. Even USDT which has been the safe haven for investors in times of price fluctuations hasnt found it easy being  stable coin and we just it hit a low some weeks back. So i also wonder how they will make the Nollar stable.

[Mishgan27]

Interesting opportunities are presented. Now many projects are aimed at developing faster transactions than bitcoin. I think we need to study this project in more detail. Because I know nothing about these exchanges.

[KBCapital]

There are many "stablecoin" now, but we still need a real-stable coin. USDT Tether is the first "stable" coin in the market but its price is not really stable when it dropped from ~$1 to ~$0.85 last two weeks.

[nulan]

one more new stable coin based in usd I really appreciate this and with Daniel Jan Neetzel as Cofounder & CEO, seems to need support. but why Frederik Jeger as Chief Blockchain Engineer didn't get a photo profile and link on linkedin? this will affect team transparency I think.

[CryptoCot]

one more new stable coin based in usd I really appreciate this and with Daniel Jan Neetzel as Cofounder & CEO, seems to need support. but why Frederik Jeger as Chief Blockchain Engineer didn't get a photo profile and link on linkedin? this will affect team transparency I think.

To create a popular and reliable stable coin, two conditions are necessary: good specialists in technology, because the network must work always and everywhere, even small interruptions in the network are unacceptable, because it is a quiet gawk during financial storms. And the credibility of the team is necessary, because customers will trust these founders with their dollars). The command must be transparent, there can be no exceptions...

[anggriani]

from the incident experienced by the USDT or tether yesterday, it is not always stable coins that the price will always be stable or can be based on 1USD.

[kojektea]

I feel that adding a local group of other languages is very much needed in the NOLLAR project because this project, there are still many people who don't know it yet.
I think NOLLAR will make it soon

[StoneSoup]

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.

[bruges]

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.

Please read whitepaper, there's section explaining NOS token which addresses your questions. There will be 1.000.000.000 tokens, I believe you can buy some directly from the team.

[Freaks]

This is very hot trend to launch a stablecoin in current scenario but official exchange not have secure connection that is really surprising thing for me. Don't know what is your approach regarding security of account if any mishap could happen than how people will get compensated?

[StoneSoup]

So what I have been able to determine so far:

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??

Looks like this is the case. I think the fee falls from 0.9% to 0.45% but this is only for 12 months (not clear when the 12 months starts) Then for the next 12 months, they say: "Adjusted at market development" whatever that is supposed to mean. No indication beyond 24 months, perhaps they haven't decided. Really I would like clarity on things like this before even considering investment.

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.

According to the white paper:

If the NOS token is publicly traded at 1USD, you will be able to cash-out 200 USD from NOLLAR to USD paying with 1 NOS token

This is a bit more clear except we still don't know what to expect if the NOS token is only say 1 US cent or if it is 5 USD, is it a direct linear scale?

If NOS is worth only 1 US cent, does that mean the you can only convert 2 NOLLAR to USD per NOS?
 
What are the fees and how are they regulated and who decides this?

Main fees seem to be 0.9% of NOLLAR value when converting from NOLLAR to real USD. So 100 NOLLAR would cost 90 US cents so you would receive USD 99.10. With the discount, it would go down to 45 US cents for the fee. There is also unspecified fees for exchange and kyc and a few other things but no clarity of what they will be.

Where can I buy NOS? How much are they currently costing? Can they even be traded?

bruges is saying they can be brought from the team. No sure I would be happy doing that until I saw a lot more evidence that this is even going to happen. This has a horrible smell of ICO to it and we all know how reliable those are...

No exchanges as of yet either. Then again, is the tech even in place for the exchanges to happen.

How many NOS are there going to be at maximum?

Clear definitive answer here, 1 billion.

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?

The white paper says 20% of used ones will be burnt and the remaining 80% will be distributed to the community and partnerships. Great, but what does the second part mean in practice? How are they going to distribute them to the community and what partnerships are they talking about?

How will that help since they will only ever have vale of 50% of current fee?

I can only speculate the the other 50+% goes to the bank and or devs, it is pretty unclear.

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.

White paper doesn't even try address this, actually is seems to make an effort to distort reality which doesn't really help it's credibility. They need to focus on their strengths and not make up stuff that is verify ably untrue.


This all sounds good in principal but seems to be full of holes. This causes lots of red flags to go off for me.

After further investigation, the lack of clear cut answers and analysis of the white paper, I think I will put this on hold to wait and see. I am not yet convinced that this is not a scam or just very poorly thought out. It certainly has the potential to be really great but there seems to me much more to it than it seems and the fact that Nano has no native support for smart contracts means that they have probably got a lot of work ahead of them if they are going to make it work.

So I wish you well but for now I recommend HOLD.

Please set me straight.

Please read whitepaper, there's section explaining NOS token which addresses your questions. There will be 1.000.000.000 tokens, I believe you can buy some directly from the team.

[TeraBite]

http://msc.exchange/

That exchange is listed under official partners but they don't secure connection this is big question market on the credibility of this project. People can't afford another inside job like what happened before in NANO by the hack of Bitgrail.