To the Niubiswap Community,
Another week for the Niubiswap Community has come and gone, and we are here to provide another weekly update to keep you up to date on all things NIU. Our goal in keeping you up to date with these posts is essential. We believe that as a provider of a solid and innovative AMM ecosystem, it is our job to make sure you have all available resources and information available at your disposal to keep you able to make the most informed decisions possible regarding your assets.
We had a couple of important partnership events and happenings this week! First, we developed a new strategic partnership with CafeSwap Finance! We will be adding a new BREW Pool to the Hongbao Special Pool lineup! Users will be able to earn BREW rewards and experience the benefits enabled by the partnership between our platforms!
In addition, we also expanded on our current partnership with Tree DeFi. In a generous gesture, Tree DeFi airdropped a small amount of SEED to all NIU holders and stakers! This is just another way the Tree DeFi partnership with NIU is benefitting our community by exposing all of our holders to the SEED ecosystem as well.
We also decided to discontinue our old Hongbao Pools which were offering BSCPAD, CAKE, DOT, and EGG. These pools were replaced with more popular, in-demand coins and tokens. The new pools that will be replacing the old pools are ATOM, WBNB, and DOGE. By offering these new pools, were looking to expand our holder and user count by drawing in holders from the respective communities the new coins offer. With DOGE and BNB becoming top 10 cryptocurrencies, exposure from these groups is essential for the growth of NIU as we aim to be adopted on a more massive scale.
Lastly, we also have decided to decrease our NIU minting emissions. They were reduced by 25% from 8 NIU per block to 6. As we reduce the amount of tokens being sent into circulation, this will reduce sell pressure and decrease the total supply, which will help keep the ecosystem NIU is supporting stable and less volatile.
As a part of our new strategic initiative as a whole, we’ve updated and edited our roadmap to keep everyone on the same page on the direction NIU is taking. We’ve added some of the new things we’ve undertaken along with outlined what’s coming in the month of May, which is:
More Hongbao Partnerships
Increased core utility (INO project to launch on NIUPOT
Certik Audit Completion
Binance Price Bot
Pancake v2 Migration
There was a lot of positive and impactful strategic moves this week which will certainly help the project long term. All of the above changes and modifications came with a log of though put into place. The communities opinion is also paramount and we encouraged everyone involved in the project to vote and participate in the shared governance aspect of the project.
Unfortunately, as we continue to make these moves, there will be bumps on the road, like the one we recently faces with our NIU/DOGE Hongbao Pool.
As you all may have noticed, we had a technical incident where some NIU stakers who committed their NIU to the DOGE Hongbao Pool were not receiving staking rewards. The technical difficulty was fixed in roughly 12 hours after being found and users can continue staking their NIU for DOGE. Those who were affected can expect an extra 10% DOGE reward as staking rewards for the inconvenience.
We have also introduced a NIU-DOGE Meme Contest on Twitter and as of right now we have had many submissions for the contest, lots of creative and entertaining memes could be found by the creators. Keep em Coming!
With a new week to look forward too, we are excited for what’s in store as we take the next steps in building NIU into the most competitive AMM ecosystem in the market. The current bull market is still rolling and we hope to continue to roll with it. We saw our price raise from $0.05 all the way to $0.43, with a correction coming and keeping prices between $0.10 — $0.12.
Stay tuned for more information this week and also keep an eye for our next weekly update, which will be conducted annually every week. Thank you and happy Hodling/staking!
The Niubiswap Team