Tweet fijado
NGNT now lives on the @binance Smart Chain.
It is now [also] backed by BUSD.
We’re excited to be a part of the @BinanceChain community.
More information can be found at ngnt.org
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NGNT
137 posts
NGNT
@NGNToken
NGNT is a collateral-backed stablecoin pegged 1:1 with the Naira. It is not legal tender. 📧 [email protected]
Se unió Aralık 2019
6 Siguiendo1.8K Seguidores
NGNT retuiteado
Naira Token $NGNT is live on Nomics with a price of $0.00204215, and volume of $598.91 @NGNToken nomics.com/assets/NGNT-Na…
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So they are motivated to use their funds to cover losses? How is that a sustainable business model?
NGNT@NGNToken
@drbhiyi From the same place we got the $300k+ collateral that’s in the reserves currently. The members of the team are exchanges & other crypto stakeholders that are motivated to keep NGNT fully backed & working.
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Add more funds? From where?
NGNT@NGNToken
@KenyaCoin @drbhiyi Lastly, per the scenario you gave above. In the *extremely* unlikely event that the Naira gains enough on the dollar to render our reserves insufficient overnight, the team will simply just either: - Add more funds to the reserves or - Burn NGNT
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@KenyaCoin @drbhiyi Lastly, per the scenario you gave above. In the *extremely* unlikely event that the Naira gains enough on the dollar to render our reserves insufficient overnight, the team will simply just either:
- Add more funds to the reserves or
- Burn NGNT
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Why are you floating a NGN stable coin, that is unregulated, and backing it up with a regulated stabecoin in another jurisdiction which exchange rate is not within the control of the team? Is this backup BUSD/USDC audited against the total supply of NGNT tokens issued & minted?
NGNT@NGNToken
@drbhiyi Hi @drbhiyi, it's not fiat backed because of CBN's stance on cryptocurrency exchanges. NGNT is backed by two dollar stablecoins - USDC and BUSD. They are both regulated by financial institutions in the United States. You can find out more here - ngnt.org
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@s29vv You can find the ABI in the GitHub repository, the BEP20 branch: github.com/token-mint/ngn…
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@1anre @buycoins_africa @binance Yes, that’s a path being taken. Still largely dependent on them tbh.
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@NGNToken @buycoins_africa @binance Slightly incorrect.
Simply get your Coin Product’s Founder to fill a ‘listing application’ in order to be considered for being added to the @Binance exchange, or has this been explored previously?
Have linked an article for easier understanding.
binance.com/en/amp/blog/42…
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Any reveal or showcase on who eventually sorted on the porting task & the 300K NGNT winner as well?
NGNT@NGNToken
Can someone port ngnt.win to BSC? Considering how much cheaper fees are, it makes a lot of sense to do that rn. We’ll be giving a grant of 300,000 NGNT to whoever does.
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@NGNToken @buycoins_africa Right. Got it now.
Other than directly from the BuyCoins site, now or in the near future; is there any workloads underway to bring it into the Binance exchange from more flexible purchase opportunities ?
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@1anre A while ago, we announced that NGNT is now live on the Binance Smart Chain.
The announcement last week was about being able to send & receive NGNT via BSC on @buycoins_africa.
This has nothing to do with it being listed on the Binance exchange.
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@NGNToken Right - I get the bounty bit now.
So the last week’s BSC announcement, was just to announce that your stable-coin product is now under review on the Binance exchange or that it can now be purchased on the exchange? - cause I couldn’t find it last time I searched a few days back.
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@NGNToken Ok.
Saw that the NGNT project was already announced on the Binance Smart Chain from the post i included above.
How is this different from the porting to the Binance Smart Chain one which your team put out a bounty on, last month? - Just need some clarification on the two.
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@NGNToken Still considering it, but what then was the exercise’s intention in achieving then?
Lanre Oladejo@1anre
Naira Token now on the Binance Smart Chain #BSC, cool. Would love to see a technical exposition on the challenges faced while trying to “migrate” it over there & what’ll be done better next time around.
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NGNT retuiteado
Give your warmest welcome to the newest friends in fam!
@BotOceanInc
@threefold_io
@SelfKey
@effectaix
@tapmydata (@PolyNetwork2 is 🔥 it seems)
@yield_protocol
@thedisbalancer
@NGNToken (on @buycoins_africa)
@WilderWorld
@Navcoin
@GeoDataBlock
@Stark_Chain
@VAIOT_LTD
#BSC
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