By
Temitope Olatunji
April 17th, 2024
The NYM network is building the next generation of privacy infrastructure to prevent data leakage through the internet protocol.
CoinList has announced that registration for the Nym token sale is open for public sale. The sale is scheduled for February 9, and interested investors have two options. The first option is scheduled to begin on February 9, 18:00 UTC at a set price of $0.50 per token. As for this option, CoinList noted that the minimum amount of investment is $100 and the maximum is set at $500.
Nym Token Sale in CoinList
Notably, out of the possible 1 billion Nym tokens, 50 million tokens will be made available for the first option. Additionally, CoinList noted that users will have to endure the lockup up to around March 31, 2022, all on CoinList hosted wallets.
The second option is set to kick off on the same day as the first one but at around 23:00 UTC. In this option, interested Nym token buyers will access the tokens at a set price of $0.25 per token.
However, the firm has set the minimum and maximum range at $100 and $1,000 respectively. It is worth noting, the second option comes with lockup that entails tokens released quarterly over 2 years starting on/around May 3, 2022, using Nym’s native Cosmos-enabled wallet.
Only 25 million Nym tokens have been reserved for the second option, whereby the registration deadline has been set at February 6, 23:59 UTC.
Bigger Picture on Nym Token
The NYM network is building the next generation of privacy infrastructure to prevent data leakage through the internet protocol. The network has various components including Nym Mixnet which uses the NYM token to incentivize privacy and enhance the Mixnet protocol.
Notably, the Nym mixnet is described as a multi-purpose mixnet that prevents traffic analysis by an unwanted third party.
Nym technologies made headlines after it completed a funding round led by Andreessen Horowitz (a16z Crypto) among other notable investors that brought in $13 million late last year. Consequently, the company was valued at approximately $270 million following the funding round.
The company is set to attract more users as encryption becomes a basic need to internet users by the day. Moreover, more transactions are happening through the internet than it has ever been.
“Encryption is becoming an incredibly important component of the internet today,” says Ali Yahya, general partner at Andreessen Horowitz, and “Nym provides privacy at the very bottom layer as a foundation for other private solutions to be built on top.”
According to the company’s roadmap, 2022 has been set for marketing and application building. Additionally, the company has planned for institutional adoption and enterprise use cases next year.
The firm has been approved by various bodies including the BX Swiss, which is approved as a prospectus review body by the Swiss Financial Market Supervisory Authority (FINMA).
Consequently, Nym is the first Swiss blockchain-based initiative to have a Swiss token prospectus approved by BX Swiss as a utility token.
