To the NIU Community,
Another day, another update!
After hours upon hours of deliberations, there are going to be some changes applied to the current structure of our Hongbao Special Pools. Crypto is forever changing. New coins, tokens, and apps are being developed everyday, and we all know how quickly technology in general is developed in the world today. That’s why we feel these changes were important, so we continue to move forward with the cryptocurrency space instead of idly watching and falling behind.
With that being said, we have decided to remove the current staking pairs for our pools and replace them with more popular, exciting pairs! We’re saying so long to our old EGG, DOT, and CAKE pools and instead offering WBNB, ATOM, and DOGE pools!
In addition, we are also going to make some changes to our minting emissions. Currently, there are 8 NIU minted per block. We’ve decided to reduce the minting emissions to 6 NIU per block. On top of that, we’ve also re-ignited our partnership with Tree DeFi to continue to diversify and allow our communities to co-mingle and help each other grow together.
With the popularity of all 3 of these tokens hitting all time highs (along with their recent price increases), we believe that this is the right move strategically for reasons outlined below:
Users are looking to accumulate the new coins attached to Hongbao. We want to continue to not only reward our current community members in new ways, but also the newcomers. This move to more popular coins is being made to draw in more users who are interested in accumulating not only NIU but WBNB, DOGE, and ATOM.
Bringing WBNB into the NIU ecosystem will allow users already holding a token pegged to a top 5 cryptocurrency. This alone can be a big draw knowing they can add to their WBNB/BNB pairing stack, and allow them the opportunity to re-enter into NIU.
With a lot of attention being driven towards DOGE coin and Elon Musks involvement, of all these tokens, we believe the addition of DOGE has the biggest potential to drive us towards a large number of potential users. The run DOGE coin has been on has also driven a lot of new interest into crypto as a whole, and this allows us to latch onto the opportunity to present ourselves as a new, innovative player in the space.
In regards to the reduction in emissions, it was a concept perceived on the theory that it will reduce circulating and total supply by 25% which can effect the supply/demand scale. It can also reduce token velocity and reduce sell pressure, further providing an incentive for the community to hold and feel comfortable doing so!
We also want to mention that these changes were not made with little thought or debate. The developers and team members working to keep Niubiswap competitive have spent a lot if time outlining and exploring different scenarios, even hashing out the details of not so popular ideas to make sure we are listening to everyone thoroughly. We understand that a lot of innovative ideas are usually the ones that don’t stand out right away, so we will always take positive and productive recommendations into account.
As we continue to build our ecosystem, please continue to look at our pinned posts and tweets in our telegram channel. The admins are active and ready to assist you in the processes of unstained your tokens from the old Hongbao pools and re-staking them into the new pools. As far as a time frame goes, we are expecting these updates to take place on May 8th. As always, thank you for keeping the NIU ecosystem competitive and active. Stay tuned for more!
