NXD/USDT started trading on February 25 in the Innovation Zone, the highest price was 3.2 USDT with the opening price of 1.0 USDT, up 320%.
What is Nexus Dubai?
The Nexus Project, in partnership with various companies in the UAE, can be used in many retail stores, restaurants, etc., mainly in Dubai and Abu Dhabi. Stores can also become members without having to spend a large amount of money to install the system as is usually the case.
The Nexus Project will also allow for the signing and settlement of large purchases such as real estate, something that has not been accomplished by conventional payment systems. Up until now, there have been no services that go as far as settlement of real estate contracts with smart contracts due to problems with identity verification and payment screening. However, by incorporating smart contracts, asset collateral, and personal authentication mechanisms, blockchain technology can be used to its fullest potential to facilitate the purchase of real estate. By staking coins issued by the Nexus Project, it is possible to purchase more coins at a discount.
The Nexus Project will centralize digital incentives and digital points in the Nexus merchant network and use it as a gateway to the democratic and decentralized world of cryptocurrency. The project also aims to evolve the digital incentive/digital point service as a Web 3.0 solution that does not depend on the issuing company by backing the value of digital points through a proprietary token.
Nexus Token
Nexus Token is a bridging multi-network token with support for a variety of networks.The Nexus Token will be initially issued through Polygon, which is being touted as a second layer of the Ethereum network that allows for fast processing power and decentralization based on “Proof of Stake,” a next generation consensus algorithm. Polygon is expected to solve Ethereum’s high fee and transaction problems, and can perform transactions at a lower cost and faster speed than other chains. Polygon’s second layer (side chain) also acts as a fast blockchain that runs alongside the main Ethereum blockchain. Polygon, a potential future replacement for Ethereum, is also highly compatible with ERC and can be used for a variety of applications running on the Ethereum blockchain. The total supply of Nexus Token will be fixed, and in the case of added support for more networks, an amount of Nexus Tokens on the polygon network equivalent to the newly issued supply will become locked.
Merchant & User Apps: SPRAY
Nexus will be providing the app Spray to provide a payment and loyalty rewards solution. Spray is an off-chain loyalty rewards app that allows the user to earn NEX points based on the amount they spend on purchases, and the accumulated points may also be used as payment. Additionally, accumulated NEX points can be exchanged for Nexus Tokens, and NEX points can also be recharged using Nexus Tokens from various networks. The app is scheduled to be released in January 2022 and is planned to be available in various shopping centers in Dubai. The number of companies planning to adopt this service is about 110, and the payment service will be gradually implemented by the end of the fiscal year 2022.
NEXFI by Nexus Dubai
NEXFI’s plan for the distribution of Nexus Token Nexus Tokens will initially be distributed to board members, private sale participants, and pre-sale participants. The remaining supply will be reserved for staking members and discount sales. Users can buy additional coins at a reduced price by locking a portion of their active coins, giving them the right to participate in discount sales. In other words, the remaining tokens other than the initially distributed ones will be distributed on the market only as part of Nexus Token Staking benefits through NEXFI. There are also plans for a system where the Nexus Foundation will purchase tokens for a fixed amount for market circulation, which will keep the value of the tokens above a certain level and ensure a stable and gradual growth.
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