NOMINEX - cheating hunters by delaying payment for THREE years

[Slow death]

Friends,
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.

do you know what is the funny part of it all?

this:



What happens when a participant breaks those rules that are in this image? the participant are removed immediately without any second chance. so why can you break the rules?

I doubt that in the real world you would hire any worker and at the end of the job you would not pay that worker for the work he did.

A good person with a sense of responsibility would have paid all participants and then dealt with currency price issues.

It is your responsibility to pay the people who will participate in the bounty campaign

it is not the responsibility of the people who will participate in the bounty campaign to deal with price issues from your altcoin.

In the real world you would never do that kind of thing, am I wrong?

would you hire some advertising agency in the real world to promote your exchange and then when it is time to pay would you have the courage to do what you are doing now?

if you dared to do that, you would be in the police and in the courts for breach of contract and would pay compensation and all damages caused to the advertising agency.

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[holydarkness]

Nominex team, is there any particular reason why you deleted some of your replies on this thread? Allow me to recall some of them:

In reply to examplens

1. We meant a distribution of free tokens - this is very short compared to the total distribution period of all tokens.
2. No, there are extra features beside of that, and we will integrate new features of NMX in the future.
3. We decided to change the strategy after the start of campaign and we have come up with the best conditions for this. As we said before, free bounty tokens will be distributed during 1 year each day by equal part when the process of distribution of all tokens will be in 100 years.

Show me the announcement made right after the start or during the bounty duration in regards to your answer number 3.


In reply to royalfestus

NMX for bounty activities will be distributed in 1 year. So the heading of this thread is not a truth.

The heading of this thread, alongside with the opening post and several posts on this thread, were made before you announce the duration of bounty. Which, the time applied before the said "revision" were 3 years. Nonetheless, the essence of the thread is still true to its content, that you cheated hunters by delaying payment that is not agreed before.


In reply to aioc

What's the point of unlocking all tokens at once if the price might be significantly lower? Do you really want to sell all your tokens for nothing?

Ever heard something like, "Better to have, and not need, than to need, and not have."? By holding hunters payment, you effectively suppressing their ability and option to use their token at will, and sell on the price they deemed right, especially if the price soars in a near future. You were so sure hunters will sell right away instead of holding until the price is right, why is that? This action of holding the payments certainly should be considered as an act of denying opportunity. Far as I know, it was our rights, and you denied the rights.

I asked you this once on telegram group and I'll ask here again,

"Say, let's say one week from now a token called ABC reaches 3x its price and it is expected to face bear run soon after, do you say token holders may not take the chance and sell their token at once? I thought your concern were that we dumped the token at whatever available price and thus creating price dump? If someone sell all of his token at a high price because he thought it's time to sell, you didn't allow this to happen?"

[holydarkness]

Continued to Nominex team,

In reply to bakasabo

We presented our new strategy on AMA session on 11.11, then we heard a feedback from all our users and decided to to reduce the time of distribution. Is it bad? The decision of 1-year-distribution won't be changed, and the period of a new distribution - 100 years instead on immediately listing of all our tokens will be on a smart contract, so we won't have a possibility to change it anymore.
We decided to change it before this topic was created. We have tens of thousands of users and it is important for us. We try to please the majority of our users, and the vast majority really support our new strategy.

Regarding the AMA, can you tell me that this is widely made known? To the whole community? Or were it just to small community or perhaps none at all? As far as I know, you were just mentioned it once on the group, without clear details of when or where, and then suddenly when someone asked, it was announced to be "today" by someone, which you, as admins, were not even bother to clarify and share further details. Also, it was implied that the AMA were for a non-english participants? Russian, is it? Wouldn't that means the session and decisions made during the sessions were not fair and didn't represent the whole community, and thus it's barely "the majority of our users"?

Reference: from telegram channel, these are the best and closest to AMA announcement



While the other channel (from the link on the said post) didn't even mentioned any ama on 11.11. Their group didn't even have single chat during the entire 11.11



Amd then, the claim of "tens of thousands of users" were this data pulled from your website members? Because the sums of the three of your group only have less than 2,500 members, excluding deleted accounts of bot and the dev themselves, that's barely tens of hundreds.


 


In reply to onecall123

From the very beginning we said that listing should be in April 2021, about which 3 month you are talking? We just try to make the good price of NMX for everyone. You will be able to sell your tokens higher then it might be in our original mechanics. I will clarify why we think so with calculations below.

The calculation you referred were as below:

Friends,
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.

How sure are you with these number and can you give a guarantee that, by doing hunters "a favor" by withholding their payment against their will for one year, their earning will increases 63 times? Suppose someone owned 100 NMX, with assumption token price upon unlocking were 1.4 USDT, can you assure us that if the said person didn't sell each of his token for the whole period and sell them by the end of it, he'll get something worth of (100 x 1.4 x 63) 8,820 USDT?


In reply to nutildah

You will be able to withdraw some part of your tokens each day.

Then, the answer is no. I'd like to know how you'll answer this, combined with the point made by slow death's two posts above

[dkbit98]

the same number of tokens will be distributed over a full 100 years.

Nothing will exist in 100 years, and you should have done better thinking about that before creating your bounty campaign and rules here in bitcointalk forum.
Deleting and changing your old posts to cover this is also not cool, and everything is archive and saved, so there is no real point for doing this. :/

[XZERO1]

We did not block NMX received from bounty – you can still fully use it to pay for trading commission.
In additional, when we created rules of NMX token distribution, DeFi was not in trends. Times change and we change too.

NMX tokens will be distributed every day in equal parts. And soon after the NMX listing we will integrate mechanism which allow you to stake your locked NMX and get NMX for it, which you will be available to immediately withdraw to another wallet.

So the main purpose of having a bounty campaign for your project was not to promote your exchange but it was to increase your number of users for your exchange...

Now that all who promoted your exchange can only use your token to get some discount on fees you're hoping that some of them would deposit some funds to your exchange and use your exchange instead of whatever exchange they're using right now.

To me this whole thing looks like a big scam attempt and I'm not talking about the fact that they didn't pay bounty hunters but I think these are all just to make more people(bounty hunters) to use their exchange in the hope of getting some benefit out of the tokens they received and when the exchange got enough users and funds they can just exit scam with all the money.

I recommend anyone(including bounty hunters of this exchange) to stay far away from this exchange and do not deposit anything to their exchange since it's most likely scam and they're going to run away with users money sooner or later.

[robelneo]

They have low regards and disrespecting the value of bounty hunters, the people who promote and invite investors to invest in your project, this has to stop, punishing bounty hunters, these developers think that bounty hunters are slaves that they can manipulate, Nominex should not change their rewards because they think the time has change.

[examplens]

Are you still deleting your posts? You know that is here services which archives all deleted posts, so fraudsters can't manipulate and subsequently change the conditions.

Friends,
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.

I have a suggestion for you. offer a double the reward to bounty hunters, but distribution to be over after 200 years. surely everyone will agree to such favourable conditions, who would resist that. I would like to meet the smart head that came up with this hundred-year plan.
You never answer me, why you don't pay hunters with BTC, ETH, USDT... this will save the value of your token and you will settle your obligations?

[malcovi2]

Friends

Sums it all up, you know its not runned by people that has no biz sense.
This exchange even announces that their precious token will rise to a certain value 

[NominexExchange]

Friends, we have already described all the reasons why our decision to distribute 200,000,000 NMX is not a one-time, but within 100 years, will bear fruit for the community and for us. We calculated that the share of bounty hunters compared to the volume of coins distributed over the first year increased by as much as 63 times. We talked about the fact that you can withdraw the first NMX coins much earlier than in April 2021. We have announced that locked NMX coins will be stakeable shortly after listing under certain conditions, which we will announce after listing.
If all of the above doesn't convince you, we're sorry. We are sorry that our decision upset you. Unfortunately, we can't please everyone, although we really tried to make the conditions optimal for everyone.

It is not clear for what reason, almost all of our previous answers were deleted by the topic moderator. Therefore, we will answer all questions in one message.

All distribution rules have already been formed and will soon be entered into a smart contract. You cannot change them.

About the lack of information about the AMA session in the STM community. STM is a side project whose coin we have listed on our exchange. They don't have to write about us for their community at all.
The number of users in the Nominex Telegram community is not equal to the number of exchange users. This is logical. After registration, each user is assigned his id, which is charged in order. Today, the number of registered users of the exchange is over 34,000.

After listing, the cost of the NMX token will no longer be fixed. At the moment, the price of 1 NMX token is 1.2 USDT.

We have not deleted any of our posts. They have been deleted by the moderator. We have a proof screenshot of an incoming letter with a notification that our replies in this topic have been deleted.

That's all. Please, if you have any questions, you can ask them in the live chat on the exchange website or in the Telegram community. Thus, you are guaranteed to get an answer to your question, and faster than on this forum. Thank you all for your understanding.

[lifeOK]

Not much wonder as you put damn care what's bounty hunters and the forum says. It's not about convince you, but it's their right to get justice and get paid as you have promised. Scam Accusations opens against your unlawful decisions, as this very open for criticism you must respect that. I don't understand why you guys behave like dishonest, just take a look on your trust history.

[holydarkness]

About the lack of information about the AMA session in the STM community. STM is a side project whose coin we have listed on our exchange. They don't have to write about us for their community at all.
The number of users in the Nominex Telegram community is not equal to the number of exchange users. This is logical. After registration, each user is assigned his id, which is charged in order. Today, the number of registered users of the exchange is over 34,000.

There are a lot of questions not anwered, you simply hust made a long general and repetitive post. But let's straighten this first, you claimed that the decision for gradual release were from the AMA session when you laid out your strategy, and that the vast majority of the community were supporting the "new" strategy, this was during the AMA session? On 11.11?

Where does this AMA, that give birth to this whole situation because the majority of your community supported the decision, happened? And where does the proper announcement from your side?

And about how this situation "will soon be entered into a smart contract. You cannot change them," well, we can't change it, but you can. Notice the future tense? It is yet to enter the smart contract, you can change them if you want to, but you don't. Same like there are protest about this arrangement and you decide to not listen to them, claimed "we heard you", and then continue on with the plan. This speaks volume of who you are and what kind of business you ran.

[bakasabo]

Received free NMX tokens will start unlocking every day in equal shares 30 days after converting NMX to DeFi and will be divided into 2 categories according to the duration of unlocking:

1. NMX earned in bounty and live tournaments will be fully unlocked within 365 days (1 year).

So after all these words, you still cheater bounty hunters and lied to all of us, because I have participated in bounty, and my reward look like this:



I think it is no use to wait an answer from NominexExchange, as they are busy with their tokens being listed on PancaSwap.
So many positive reviews, support, "plans to be one of the leading exchanges", but everything ended with listing on a dex and quickly selling tokens. Nothing new...

[masulum]

I think it is no use to wait an answer from NominexExchange, as they are busy with their tokens being listed on PancaSwap.
So many positive reviews, support, "plans to be one of the leading exchanges", but everything ended with listing on a dex and quickly selling tokens. Nothing new...

I'm so sorry for this conditions, I'm not following them anymore, but let me know if your tokens not unlocked till date they are promising to hunters. Even I can't do anything, at least I will try to contact them once again. Someone tell me if the board team very often change their plans, not consistent with their roadmap.

[gullu]

Friends,
our original plan was to list all 200,000,000 NMX in April 2021, but now the same number of tokens will be distributed over a full 100 years. Thus, in the first year, 3,170,800 NMX will be distributed, which is significantly less, and this should have a positive impact on the exchange rate of our NMX coin.
If we talk about proportions: according to the old mechanics, the ratio of the number of tokens you received for the bounty (76,749 NMX) would be negligible in relation to the total mass (200,000,000 NMX) – only 0.0383745%. With the new mechanics, the number of tokens you receive will be significantly higher: 76,749 NMX from 3,170,800 NMX = 2.4204932509145958% - thus, the capitalization of your share will be as much as 63 times higher. It’s just math.

Releasing the tokens slowly to prevent the dump is understandable. But 100 years is really a good joke . After reading reading this I couldnt control my laugh. Who is going to live 100 years to receive this reward and who knows how many years this exchange is going to survive. Nowadays mostly all new exchanges after running for 2 or 3 years are becoming scam.

[holydarkness]

[...]

I think it is no use to wait an answer from NominexExchange, as they are busy with their tokens being listed on PancaSwap.
So many positive reviews, support, "plans to be one of the leading exchanges", but everything ended with listing on a dex and quickly selling tokens. Nothing new...

They have long abandoned the account since it is marked, so I am very doubtful that they'll  notice the protest, or even visit this thread from time to time anymore, as they'll most likely tried to go as far away as possible from this --hey, it stripped their lies. Now they do their ann and promotion on this thread with what I strongly assume as one of their alt account. To be honest, I almost joined that thread to give another protest and raise awareness for other people on said thread when they did another... "change of plan" where their so-called DeFi release delayed --Ohoo, look at that, another change of plan-- for two months.

[Saisher]

So after all these words, you still cheater bounty hunters and lied to all of us, because I have participated in bounty, and my reward look like this:



I think it is no use to wait an answer from NominexExchange, as they are busy with their tokens being listed on PancaSwap.
So many positive reviews, support, "plans to be one of the leading exchanges", but everything ended with listing on a dex and quickly selling tokens. Nothing new...

Three years is a long time and so many things will happen before they release these tokens, this is a bad behavior, if they announced it before they launch the campaign no bounty hunter will participate, developers who locked their bounty hunters rewards should be tagged, they are taking advantage of bounty hunter's rewards, it's more like an abuse.

[judeafante]

I participated in their signature campaign and got 280 Nominex, I check my locked token and it was locked for only a year, I don't know when this started I seldom log in to my Nominex dashboard, I can't do anything about it, I just hope that they will fulfill their promise, and the price of the token will be good, so my wait will worth it.

[cryptoperkele]

I participated in their signature campaign and got 280 Nominex, I check my locked token and it was locked for only a year, I don't know when this started I seldom log in to my Nominex dashboard, I can't do anything about it, I just hope that they will fulfill their promise, and the price of the token will be good, so my wait will worth it.

That was an error and it's now changed to distributed during 1 year.

Looks like the wait has surely been worth it. And like i said on the other thread, they did this to protect the token price because looking how their ico wen't there wouldn't have been buy support to hold the value for ieo tokens and it's working, so at least investors are very happy now, and if you give some time, bounty hunter will be too. I am getting over 3 NMX daily from bounty and competitions and with the current price og $8 and rising, i am happy:

According to whitepaper, they sold 164,022 tokens. And if i recall correctly, first price level in IEO was ($0.1) per NMX. So i actually would be very puzzled if they wouldn't sell for 20x profit, especially if they are staking their tokens and just selling those.

Also according the whitepaper nr of bounty or won tokens was 7,341,634 NMX, so there's no change that they could set up a buy wall for that with the amount of money they collected.

Circulating token amount you can see in the contract address.