NetMind Power Update 3 - 2024.03.01

1. Stay updated on our daily NMT burn totals here:

https://nmscan.netmind.ai/address/0x0000000000000000000000000000000000000000

So far, we've burned 1.5 million NMT and counting. As we continue to expand our network with more miners and users, the dynamics of burning will evolve. While burning from mining rewards may decrease, there will be an increase in burning from users renting GPUs or deploying/using AI models.

2. Locking NMT on NetMind Chain

As we mentioned in update 1 (2024.02.23), NetMind Chain was launched in Apr 2023, in collaboration with early GPU partners. To ensure sustainable growth and value for all network participants, the reward mined by these early conrtributors, will be locked.

Therefore, we've implemented a lock-up of 80 million NMT. This decision is a crucial step towards ensuring sustainable growth and value for all network participants.

https://nmscan.netmind.ai/address/0x608B25EBd307BC41eD29106644fdC5b5cBA0dd53

Details of the Lock-Up and Release Plan:

• Initial Lock-Up Period: 80 million NMT are currently locked in NetMind Chain. This lock-up demonstrates our collective confidence in the long-term potential of NetMind Power.
• 10-Year Gradual Release Schedule:

  i. Start of Release: The release of these tokens will commence in year-3 starting from 2024-3-1.

  ii. Annual Release: From year-three onwards, 10 million NMT will be released each year.

• Strategic Planning: This approach aligns with our broader strategy of responsible token distribution. By carefully timing the release of these tokens, we ensure that the market absorption is gradual and healthy.
• Reaffirming Trust: The lock-up and structured release reflect our deep commitment to the project's future and the trust placed in us by our early supporters. It is a testament to our collective belief in the long-term vision of NetMind Power.

3. Looking Ahead:

As we forge ahead on this exciting journey with NetMind Power, the confidence and support you've shown play a pivotal role in shaping our future. Here's our commitment to you as we navigate the path forward:

Partnerships and New Features:

• Feature Development: We are committed to continuously enhancing NetMind Power with new features, focused on delivering a more rewarding and efficient user experience to our users.
• Series of Products & Research Initiatives: Look forward to a range of innovative products and cutting-edge research from NetMind.AI, all seamlessly integrated with the NetMind Power platform.
• Business Partners: Our active collaborations with various business partners are driving us into new research domains. These partnerships are instrumental in broadening our range of services and unlocking new possibilities in AI and decentralized computing.

Roadmap:

• Transparent Planning: We're committed to full transparency in our planning and execution. A detailed roadmap will soon be unveiled, outlining our key milestones, feature rollouts, and strategic goals for the upcoming periods.
• Milestone Tracking: This roadmap isn't just a plan; it's a promise. We will provide regular updates on our progress against these milestones, keeping you informed and engaged every step of the way.

Community:

• Enhanced Support Channels: In our ongoing effort to better serve our dedicated community, we're expanding our support team. This expansion is aimed at providing comprehensive assistance and guidance to each member of our community, ensuring a smooth and supportive experience for everyone.
• Community-Powered Growth: The contributions from our GPU providers, developers, and users are incredibly valuable. We are committed to putting more effort into expanding our network, recognizing that your participation is vital to our growth.

We're not just building a platform; we're crafting an ecosystem where innovation, collaboration, and community thrive. Your ongoing support and feedback are crucial to our journey. Together, let's strengthen NetMind Power and pave the way for a revolutionary future in decentralized computing!

Thank you, everyone, for being an integral part of this exciting adventure!