LBank $NTX AMA RECAP

LBank Listings&Projects
5 min readOct 26, 2023
LBank AMA Recap with $NTX

On Oct 25 , we held an AMA with the $NTX team, hosted on LBank official telegram channel. If you guys had missed this session, here’s another chance to get a full transcript of the AMA event.

INTRODUCTION : Hi everyone my name is Jennifer and I am the marketing and community lead at NuNet 💙 It’s my pleasure to be here to introduce to NuNet

NuNet is creating a global network that links unused computing power from different devices owned by individuals across the globe, forming a large pool of computing resources. 🖥️ 🌐

The owners of these devices are rewarded for executed work through a tokenomic ecosystem using NuNet’s Utility Token (NTX) 😄

Question 1 : What milestones has the company achieved so far and what milestone is it trying to reach next?

Guest Answer : As mentioned NuNet is building a gloval economy of decentralized computing and currently we are in Public Alpha which is being tested with the help of our community on Cardano Testnet. Our platform allows for AI and ML algorithms to be run on decentralized CPU/GPUs devices provided by our community! 🖥️ 🌐

Our next major milestone is to launch on Cardano mainnet and bring utility to the NTX token! ✌🏻

Done

Question 2 : You have a lot of competitors in the crypto industry. We all know this, but what makes you different among so many projects? Which of your features will you be stronger than your opponents?

Guest Answer: NuNet is at the forefront of cutting edge technology and is creating a marketplace for latent CPU/GPU resources. There some key differences between NuNet and other projects:

1. Blockchain Agnostic → Unlike other projects in the space, NuNet is not a blockchain, but a lightweight peer-to-peer connection between devices that want to share computing resources. This means that the NuNet platform can essentially plug into any L1 blockchain payment settlement layer, allowing for endless possibilities! 🌎

2. Faster and easier to scale → Being chain agnostic means that NuNet will be faster and more scalable than other competitors as we are not tied down by consensus mechanisms. 🏗️

3. Open source → NuNet is also fully open source meaning that our platform will be continuously improved and developed by external developers. This allows for more use cases and possibilities to be ran on NuNets marketplace of decentralized Computing 🤗

Done

Question 3 : What resources and support do you offer to developers or entrepreneurs looking to build on top of the Nunet Global platform?

Guest Answer : As mentioned, NuNet is fully open source, we actively encourage developers, community members and entrepreneurs to build on NuNet. We have a thriving Developer community on Discord where community members and devs are there to help with technical queries. 🤝

We will soon launch a earndrop bounties program to encourage and reward testing and innovation on the NuNet platform. We have reserved some NTX in our treasury to help support these innovations on the platform allowing NuNet to support members to propose and develop groundbreaking use cases and features onto the NuNet platform.🏗️👏🏻

Done

Question 4: What is the primary utility of the $NTX token within the NuNet ecosystem?

Guest Answer : NTX (NuNets Utility Token) is used to make payments between those who provide computing services (compute providers) and those who use the computing power (service providers).

Compute providers can onboard their device to the NuNet network and be automatically paid NTX when someone uses their device’s compute power, they can then claim the NTX from smart contracts on blockchains. Service providers pay NTX to rent this computing power. 🌐

Done

Question 5 : Can you update some of NUNET latest news or significant events to us? Where I can get the latest updates or more information about the NUNET project

Guest Answer : As previously mentioned, we are currently testing our public alpha platform and we are working towards mainnet launch soon! We are focused on building a fast, secure and robust platform 🔒🌐

The places to get quick notifications for NuNet’s latest news are our Twitter/X and Telegram channels. To follow the development more closely and get involved in our testing process, follow our Medium and join our Discord server.

Links to all our socials can be found here. 🤝

Done

Community Questions :

Question: Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?

Telegram Username: @ton_Hostetler_31

Guest Answer : Yes, this is something that we really focus on when developing the platform. Making it user friendly and implementing new ideas and features that the community suggests is very important to us. We are an open source project therefore rely on community involvement heavily to steer the platform in the right direction.

Question 2 : Are you a global project or local project? At present, which market are you focus on, or is it focused on building and growing to gain customers, users and partners?

Telegram Username : @Mcmillian2002

Guest Answer : NuNet is a global project. Compute providers can be located all over the world and onboard their devices to our network. Our team is also very diverse and work remotely from many different regions around the globe.

Right now we are focused on building our platform to launch on Cardano Mainnet in the near future!

Question 3 : Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?

Telegram Username: @LoreanAnderson

Guest Answer : Yes we have a YouTube channel and a great documentation site for people to get to know our project more and how they can get involved:

YouTube: https://www.youtube.com/channel/UCLTTOrMYDTbQYHs1HCFPtfA

Info Hub: https://docs.nunet.io/infohub/state-of-nunet/project-history

Public Alpha Testnet Documentation site: https://docs.nunet.io/nunet-public-alpha-testnet/

Question 4 : Do you have any Bug Bounty to check for weakness? In what way do you plan to make Your project more complete??

Telegram Username : @Marivel_Badger_2000

Guest Answer: We will launch this iniative soon for more information join our Discord

https://rebrand.ly/jz4busi

Question 5 : Can you give an overview of your Tokenomics, and the UTILITY of Token?

Telegram Username: @Catalinakemper1993

Guest Answer: NTX is used to make payments between those who provide computing services (compute providers) and those who use the computing power (service providers). Compute providers can onboard their device to the NuNet network and be automatically paid NTX when someone uses their device’s compute power, they can then claim the NTX from smart contracts on blockchains. Service providers pay NTX to rent this computing power.

More information on token distribution can be found here

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