Nebulas Rank (NR) is a on-chain, native value measurement mechanism for the contribution of accounts on Nebulas and is a invaluable asset of the Nebulas ecosystem. It also serves as a sorting algorithm for the Nebulas core and the mapping of important metadata within the Autonomous Metanet. NAT is the asset derived from Nebulas Rank which will be embodied in the form of a NRC-20 Token and will serve as the only voting medium within the Nebulas ecosystem governance.

The total circulation of NAT is related to the NR of the entire network. It will be the initial reference point for the network after the completion of the first Nebulas NOVA proposals on May 6th, 2019. Based on the current Nebulas Rank of the entire network and the current initial parameters, the upper limit of the total amount of NAT to ever exist will be 100 billion.

NAT will airdrop tokens to the Nebulas mainnet address users on a weekly basis starting May 13, 2019.

For addresses with a NR score grater than 0, the number of distributed tokens will be calculated based on the NR value of the users address from the previous week.

For more details, read: “Check your NR & see how many tokens you can receive from the NAT Airdrop!”

How can I get NAT if I don’t have NR?

Starting May 6, 2019, users of the main Nebulas network can choose to obtain NAT by “Pledging” NAS coins via a smart contract.

Users of the Pledge NAS smart contract will receive a NAT airdrop beginning the second week after pledging begins (May 13, 2019).

Issuance method: NAT will airdropped to addresses on the mainnet network on a weekly basis; the number of airdropped tokens per week will be decremented. The decreasing coefficient is λ. Initially λ = 0.997 — ie at week 180, the number of dropped NAT will be reduced to 60% of the first week.

Based on the NR status of the entire network on April 16, 2019, the estimated percentage of NAT obtained by the Pledge NAS smart contract via the first week is as follows:

1 NAS = 0.001 NAT

100 NAS = 0.601 NAT

1,000 NAS = 10.019 NAT

10,000 NAS = 127.034 NAT

How to start and cancel pledging:

To begin a pledge, users will need to send a transaction to the voting smart contract via the Nebulas wallet NAS Nano Pro or other wallets that support the Nebulas mainnet. In return, the pledged NAS will be locked in the smart contract until the pledge is canceled by the user.

If a user wants to cancel their pledge and unlock their NAS, NAS Nano Pro or other supported wallets can call the smart contract to cancel the pledge. After canceling, the pledged NAS will be unlocked and will become available to the user. After the pledge is cancelled, the NAT airdrop will also be stopped.

Reminder: In order to guarantee the acquisition of NAT, the user must send the NAS to the Nebulas smart contract address via a user controlled address which you hold the private key for. Do not send NAS to the pledge smart contract directly from a exchange or address you do not fully control.

Notes:

1. Pledging NAS to obtain NAT calculation:

The ratio of pledge NAS to NAT during the first week is:

Above Formula breakdown:

x is the number of pledge NAS α is the pledge bonus coefficient, α = 5 in the initial state b is the exchange ratio of NR and NAT; ie b=

For the specific parameters of this calculation, please review the article: “Check your NR & see how many tokens you can receive from the NAT Airdrop!”

2. The proportion of actual pledges will be based on the data of the entire networks NR on May 6, 2019.

3. For more details about Nebulas Rank, read the official Nebulas Rank Yellow Paper: Nebulas Rank Yellow Paper

4. The detailed algorithm for NAT will be disclosed in the Orange Paper: Nebulas Community Governance & Autonomous Metanet.

Disclaimer: