The Nimiq Discord Update — Week 5

Welcome to the Nimiq Discord Update! This a community contributed weekly write-up on what Team Nimiq have been posting in the official Nimiq discord channel alongside community led projects and content being created for Nimiq.

Nimiq — Feature update

Week 5 see’s the introduction of the ‘reference’ field in the transaction page within Nimiq safe which enables users to attach messages to their transaction. A fee slider has also been attached for future use (transactions currently do not require a fee).

Nimiq — Activation (Exchanging NET token to NIM)

Post main-launch activation of NET to NIM has occured on the 18th May, this means any NET sent for activation between the time of the activation cut off date ( March 31st) and 18th May has been processed.

Activation for NET after the 18th May is still a semi-automatic process with the team still manually verifying each NET activation for security purposes then activating the conversion. The activated NIM will be distributed in batches i.e not individually and in large movements of NIM.

Exchanges (Listing & Discussion)

There has been no official updates on the status of listing Nimiq on any exchanges (yet). It was reiterated by community manager Richy in the official Telegram group that the team is currently waiting for exchanges to integrate the Nimiq API onto their systems. It was also indirectly confirmed that Kucoin was one of the exchanges that the team has contacted for a listing with the process initiated quote ‘[a] long time ago’. Testing by a number of exchanges has been confirmed.

An unconfirmed developer from a Thailand-based exchange with the user name : ‘vabondarenko’ appeared in the discord asking for integration assistance.

Marketing (Plans, Strategy & Design)

[No change] Since Week 3 there has been no updates with regards to marketing plans and strategy. Two weeks ago, Nimiq creator Robin Linus posted his ethos on marketing found on Week 3 of the NDU.

The community has reiterated the need for a whitepaper-esque document or video that simplifies Nimiq’s aims, objectives and use cases to the masses . There has been no official comment on an updated road map for the project (yet).

(*Editor note* Can someone on the dev team please update the Medium ‘whitepaper’ with accurate information of the things that have changed since that was published i.e 21 billion supply rather than million etc.).

Mining (Pools & Developments)

Week 5 see’s the hashrate stablise around the 500MH/s to 700MH/s mark. Peaking at 771.9 MH/s on the 20th May with a low of 410.76 MH/s. Distribution has seen a greater shift toward decentralisation with BeepPool closing new registrations of miners to it’s pool and a greater uptake of miners by smaller pools like Sushipool, Porkypool and Skypool.

The decrease in global hashrate has been attributed by the decrease in those utilising Google Cloud and Amazon Web service to mine Nimiq among a decrease in interest in miners to keep running with OTC prices spiking southward of $0.005 (below break-even).

Trading & Price

OTC trading of Nimiq within the community is in a range between $0.0045 to $0.01 with transaction and volume seeing a decrease. Official exchange listing is TBA.

Community (App development & Announcements)

Nimipet created by community member KM: “It seems that Nimipet is the first game in existence which uses third-party pool mining for its game engine. It’s exciting to be at the forefront of technology.”

Sushipool embeddable miner is now available.

Skypool has released its source code on github.

Cointrail, a Nimiq specific, community developed, exchange has been announced. Username Cointrail on Discord & Medium.

NimiqWrapper developed by community member Chugwig, has been released.

A Nimiq Faucet developed by community member Smitop has increased its payout to 0.01NIM every 8 minutes.

Powlink developed by discord moderator Porkachu enables users to request other people to mine for you through a shareable link.

If you’d like your community update added to the next post please contact me through the comments or @Symphonys on the Nimiq Discord!