Updates & fixes
Nimbus Team
Dear Nimbus Users:
We started a journey to offer independence and freedom using fintech nearly a year ago; and we are thrilled to have built a community that crosses boarders, generations, and geographies.
From the start, we informed our community that as arbitrage spreads narrow; we will foray into other areas of fintech to support the platform and our users. We’re reached that point.
We have some exciting and critical updates as it relates to the new products and procedures of the Nimbus Platform.
As you know, our utility token NMBT is on a private blockchain and is an internal Nimbus token. We’re changing that – NMBT is going to be “migrated” to the ETH blockchain – still as utility token. And furthermore, as we have updated the community in the recent zoom calls, we’re working on a DeFi project related to our P2P products. Given the depth of the market, and size of our community; we want to thank our users. Therefore, we’re starting to issue a new token in addition to NMBT – exclusively for our P2P DeFi products – that’s also on the ETH blockchain; and furthermore, this new token can be swapped for in-kind crypto swaps in public markets.
What does that mean exactly in layman’s term: we’re issuing a token to our users who own GEMS and NMBT to be able to take the tokens to a public exchange and swap for BTC, ETH, USDT, DAI, etc.; thereby, creating a fixed-income instrument in relations to the GEM and the new token for our GEM holders (converting of equity into debt in this case, and offering redemption through market-making in swap in a public exchange).
This is huge news.
We’re working to have a launch in Nov. 7th, 2020. Our development team is working on the new token and smart contract, and we’re working on the legal, and tokenomics of the new product, including conversion rate, supply, liquidity, and other technical and logistical elements. By then, our new set of licenses should be on hand for us to offer this amazing incentive to our community.
Since we’re committed to transparency at all times; we want to let you know that we’re going to narrow down the window of withdrawals as we’re running back-end tests, and taking other steps to take the platform to the ETH blockchain; and also offer the new token. We’ll announce over the next few weeks about the airdrop or other delivery mechanism dates and what are the steps that the users should take, if any.