Nillion: Leveling the Playing Field for Community

PUBLISHED

06.17.2024

AUTHOR

Nillion

CATEGORY

Tech Updates

Community is the heart of crypto.

A community banded together to build a better future (by memeing it till we made it) for over a decade, and that’s how we got to today.

Community-first culture cemented web3 in the global zeitgeist.

This is why Nillion is offering the community a seat at the same table that VCs enjoyed in our latest private funding round.

How will we do this?

The Nillion Community Round 

As we step out from the trenches, we seek loyal allies; You.

And, as our ally in the Data Wars, you deserve transparency.

Moving forward, we don’t want to only give VCs and Angels preferential economics through private sales without allowing our community the same access.

That’s why we’ve made several strategic decisions to ensure you, the community, are walking with us: 

The Community Round will be at the same $400m valuation as our Series A token sale round.

This means the community will be included alongside the “big players”, instead of in their shadow, as is typical.

Many people have encouraged us to play the same games as our peers and structure a public launch with billions in FDV (fully diluted valuation) before our community has any chance to get in. 

That would have been the “easy way.” But, at Nillion, we walk a different path. 

Which leads me to our next big decision:

We are offering the exact same (or greater) percentage of token supply for the Community Round as we did for our Series A token round.

Our statement: To build the future with Nillion, you must be a part of the community

We want to put tokens in the hands of loyal project supporters, those who have believed and supported the project from the beginning.

This is also why we’re taking a unique approach to staking rewards. 

Some projects allow VCs who hold “locked” tokens to stake those tokens and earn staking rewards. 

Here’s the problem with that: these staking rewards come in the form of UNLOCKED tokens. This allows team and VCs with outsized stakes in projects to earn almost all the staking rewards and dump tokens on the community even while they’re supposed to be locked. 

We believe short-term price tactics like this benefit a small handful of groups at the expense of the community. 

Which is why: 

Holders of locked tokens can’t stake their tokens, which means that they can’t use their locked tokens to gain unlocked tokens that they then sell into the market.

If large holders like VCs and the team stake their locked tokens, they unfairly get most of the rewards relative to the community. By restricting this, the community gets most of the rewards.

This leveled playing field creates a whole that is much more than the sum of its parts.

And the community will be stronger for it.

We refuse to let Nillion become another cautionary tale of what happens when projects prioritize private rounds over their users.

Community Incentives

As part of our community-first ethos, we’re also allocating a sizeable chunk of the token supply to our community as rewards. 

The details of this will be shared in part 2 of this series. 

For now, here’s the alpha:

  • Take the Nill Pill: nillpill.nillion.com
  • Don’t “farm” the Nill Pill. Not only is it pointless, but it’s easy to separate legitimate, unique responses and farmed ones. Farming = blacklisted. 
  • Pay attention to Nillion’s socials and participate in every initiative we release in the coming weeks.

Navigating US Regulations

Due to the current US regulatory environment that involves regulation by enforcement and doesn’t provide a clear roadmap, US citizens and residents will not be eligible to participate in the Community Round.

Frankly, this is an embarrassing situation for the US, and we feel your pain. Most of the world has embraced giving its citizens access to Web3 innovations, yet the USA is on a short list of countries that don’t (along with North Korea). This also affects Canadians unfortunately. 

If you’re a US person and want to share your frustration and desire to access the next frontier of tech, contact your representatives here.

Moving Forward Together

Thank you for believing in us, sticking with us, and fighting alongside us. We’re not just building a Web3 project; we’re changing the world of data privacy and fighting for your right to remain sovereign 💙. 

We want you to look at Nillion, at every token you hold, and feel proud—not just of what you own, but of what you’re part of. Nillion’s vision is massive; together, we’re building the backbone of a better internet.

The future is blind.

About Nillion

Nillion is humanity’s first Blind Computer. It is powered by a decentralized network of nodes that enables “Blind Computation” through the coordination and orchestration of privacy enhancing technologies (PETs) such as multi-party computation (MPC), fully homomorphic encryption (FHE) and zero-knowledge proofs (ZKP). Nillion believes Blind Computation will become the internet’s base layer for all private data as PETs continue to mature. Nillion has attracted a notable initial cohort of Blind Computation builders across AI, DeFi, medical data, custody, wallets, global identity, messaging, and more.

Learn more by visiting the Nillion website or following us on Twitter, Telegram or Discord.

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