Our Updated Roadmap
A quick re-cap of the developments and a new roadmap reveal
We can all agree that the past few months have been exciting for both the team and our community. Our recent progress has been swift, and you can expect the same momentum going forward. Before we get into the updated roadmap, let’s briefly go over some of the things that we’ve accomplished so far.
Staking & Rewards
Our staking and rewards system passed its third-party audit, was deployed, and has been a great success. Users are able to stake NOS tokens for a variable amount of time. A user stake has two values attached to it: Staked NOS and xNOS. The staked NOS represents the number of tokens that the vault actually holds for the user that can be slashed or unstaked, while xNOS is a value indicating a user’s rank for purposes like giveaways and voting.
One of the primary advantages of staking is the ability to receive token rewards. The reward pool is derived from future network usage in the form of network fees. Because the network is still in its early stages, the current rewards pool is derived from the mining pool. The Nosana Network has reserved 20 million tokens for network participants, with a portion of these being released daily into the reward pool during the first year. The rewards system also gives stakers chances to win mint passes for our NFT drops.
Nosana Application Launch
Users of the Nosana Network can harness or provide CPU, stake, and earn rewards all from a single dashboard in a straightforward and logical way. This dashboard also displays the pipelines that are active on the Nosana Network as well as overall network statistics. The app can be launched at https://app.nosana.io.
Mint Pass Lottery and First NFT Drop
The staking dashboard and tier system were great precursors to the launch of the Burner Phone NFTs. The mint pass lottery was exciting and done in the most transparent way. We produced a lottery algorithm that is open source and can be viewed here: draw-mint-pass-lottery.ts. It was built so that anyone could replicate the lottery and its results on their own device. By using this method for our mint pass lottery and sharing it, we are hoping to inspire other projects to adopt more fair and transparent practices for their own lotteries.
The Burner Phone NFT collection gives holders exclusive benefits within the Nosana Network. To start, you’ll need to hold one in order to become a node on the network. Some of the NFTs have special network perks and boosts. These boosts are Priority Queue, Discounts, and Extra Tickets. The Priority Queue boost allows nodes to skip places in the Nodes Queue. This means your node will be able to get to jobs faster. The Discount boost allows you to pay less NOS fees for posting a new job; a valuable feature for power users that need a lot of compute. Holding the Extra Tickets boost gives the owner a leg up in future raffles and giveaways. A guide to our NFT collection, including rarities, can be seen at https://docs.nosana.io.
To both celebrate the first mint drop and also distribute the last mint passes for the drop, a casino-themed event was held with the community. Consisting of four Texas hold ’em style poker games, the winners of each game were awarded a mint pass. The event took place on Gather.Town and it was a great time had by all, especially the winners.
The central update of the new roadmap is focused on bringing live the capability for users to become a node. This means Nosana will be able to offer a fully functional and decentralized CICD marketplace where users can earn NOS tokens for providing CPU. This milestone includes other features as well as (add info here) which will be covered in the future in more detail.
Besides that, the Nosana Development Team is working hard on the following roadmap milestones:
- Automated smart contract testing
- Advanced protocol upgrades
- New computation areas
- Governance model
Also coming up in the near future is the Burner Phone Festival and the next drop of the Burner Phone NFTs. The festival will be a 10-day event, starting November 1st, and only for holders of our Burner Phones. Prizes are awarded daily, and they range from cool tech gadgets to NOS tokens. More can be read about the festival here.
The second Burner Phone NFT drop will again be modeled like the first. Users who have staked at least 1k NOS tokens will be listed in the staking and rewards program leaderboard and entered into the mint pass lottery. The higher the number of NOS tokens staked, and the duration they’re staked for determine a staker’s xNOS value. This xNOS value sets the tier level for the staker. The higher the tier level, the more tickets they receive in the mint pass lottery for this second NFT drop.
This mint pass lottery gets more interesting for our existing Burner Phone NFT holders. If any of NFT holders have one of our NFTs from the first drop that has a boost for extra tickets, then their chances of winning an NFT in this second drop increase significantly.
As of this writing, the rarest Burner Phone NFT, the “golden phone”, still has not been minted. Will it be minted in the second drop? No one knows, but we’re all eagerly waiting to see if it does.
Our ultimate vision is that projects will not rely on centralized mega-corporations for their daily operations. We believe that communities can perform essential computations in a decentralized manner by utilizing the Nosana Network. This roadmap update and re-cap of what we’ve accomplished are proof positive that our development team is innovating and pushing our vision and goals forward. Our community has been invaluable with their feedback and support. We raise our glass to you and say thank you. We really appreciate your support and interest as we build this network to bring the disruptive power of blockchain technology to the field of application development.
Thanks for reading!