Important Community Alert: Beware of Fake NMT Token Address

We have become aware of a critical issue that demands immediate attention from all of our valued community members. It has come to our notice that there are a couple of fake NMT token address being circulated on BSCScan.

Please be informed that the only legitimate and official NMT token address is:

Real NMT Token Address: 0x03aa6298f1370642642415edc0db8b957783e8d6.

Real NetMind Token trading pair address is 0x118e37aff646d58707d553f39293feffd4be1a2b

We urge all community members to exercise utmost caution and verify any token address before interacting with it. The presence of a fake address can lead to potential scams and loss of assets.

Hello Everyone!
At NetMind.AI, we are constantly enhancing our platform for the benefit of all users. We're going to update the reward parameters for GPU contributions on our NetMind Power platform soon. This adjustment will better reflect the performance capabilities of high-end GPUs such as NVIDIA's A100, H100, and the upcoming H200, optimizing the reward system. Simultaneously, we're modifying the reward calculations for consumer-grade GPUs with lower RAM to ensure a fair and balanced reward structure. Additionally, we are expanding our support to include a broader range of GPU types, further demonstrating our commitment to maintaining an adaptive and inclusive platform in the evolving AI and blockchain landscape. We deeply value your continued support on this evolving journey! Together let's make contributions to AI!

Hello @everyone
We are aware of a hack that happened on our server.
Please do not access any links that have been sent by anyone. We aren’t launching any airdrops or anything atleast for the next 3 days.
We will keep you updated.

Again, please do not access any links that are being sent on discord or telegram.

🚨 Important Community Alert: Beware of Fake NMT Token Address 🚨 @everyone

We have become aware of a critical issue that demands immediate attention from all of our valued community members. It has come to our notice that there are a couple of fake NMT token address being circulated on BSCScan.

Please be informed that the only legitimate and official NMT token address is:

*Real NMT Token Address: 0x03aa6298f1370642642415edc0db8b957783e8d6.
The real NMT trading pair address is 0x118e37aff646d58707d553f39293feffd4be1a2b

We urge all community members to exercise utmost caution and verify any token address before interacting with it. The presence of a fake address can lead to potential scams and loss of assets.

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Hi everyone, as mentioned yesterday, over the next few days, we'll be sharing more in-depth updates on our latest developments.

Today, we focus on the details of the NetMind Chain and our advancements in Ethereum and payment systems. For full details on these updates, visit our website blog: https://www.netmind.ai/blogDetail/NetMind-Power-Update-1-2024-02-23

📣For those who prefer a quick read, here's a TLDR/Summary:

🔥 NetMind Chain: We're providing clarification on the initial launch of the NetMind Chain, which occurred alongside NetMind Power in April 2023, starting without cross-chain features. We are grateful for the support from all early GPU contributors and investors.

🔥 To manage the rapid growth driven by an increase in GPU contributors, we've implemented a queuing system, ensuring balanced and secure expansion.

🔥 Ethereum and Payment System Developments: Our expansion to Ethereum is progressing, aiming to enhance scalability and ensure feature-rich integration. The finalization of our NMT-based payment system is also underway, which will facilitate GPU fee transactions and include a mechanism to burn a portion of the NMT used in computing.

The security and integrity of our platform, particularly regarding cross-chain functionality and payment systems, remain our top priority.

Stay tuned for more insights and information in our upcoming updates.👋

Dear NetMind Power Community,

Here are some policy adjustments regarding the Zealy airdrop:

We want to extend our gratitude for your ongoing support as we navigate the evolving landscape of our network and the broader market. In light of the significant increase in NMT's value – from 1 cent at the time of our listing on PancakeSwap to a current price of around 5 dollars – we find it necessary to adjust our airdrop reward policy. This step is crucial for stabilizing our network and mitigating selling pressure on NMT arising from airdrops.

Please note that the specific airdrop we referred to was the last one we had from January 31st to February 13th, 2024. Here are the key changes to our airdrop reward distribution rules:

Daily Random Release: To ensure a balanced market dynamic, in place of the previously scheduled set date of release each month, we are shifting to a daily, randomly-timed release of airdrop rewards. This method is designed to prevent the concentration of selling activities and encourage a more natural dispersion of NMT in the market. We will also ensure that every calendar month, each user will receive their monthly proportion of rewards.

Extended Vesting Period (for top 50 winners only): Recognizing the importance of a fair price discovery for NMT, we will implement an additional vesting period. With the current vesting period set at 10 months, for every $1 increase in NMT's value starting from $5, we will extend the vesting time by 3 months. This gradual release is intended to support sustainable growth in NMT's value and provide long-term stability for our network.

*Price Cap Adjustment Consideration: In line with our commitment to market stability and sustainable growth, we reserve the right to implement a price cap for Zealy NMT airdrop rewards distributions. This cap will serve as a pivotal mechanism to adjust the distribution policy in response to market dynamics. If the cap is activated, any value exceeding this cap will be burned.

We believe these adjustments will not only benefit the health of our ecosystem but also reinforce the value of NMT for all stakeholders. Your understanding and continued support on this journey are immensely appreciated.

Thank you for being a vital part of NetMind Power's growth!

Your NetMind Team

Evolving Burning System & Miner Emissions Update
(For more detailed explanation, visit our blog post: https://netmind.ai/blogDetail/NetMind-Power-Update-2-2024-02-26)

1. Burning Mechanism:
Burn rates adjust to market conditions:
50% synchronously, 80% asynchronously, and up to 100% for SSH feature utilization fees.

2. Miner Emissions:
Emissions are calculated daily, based on the lesser of the total computing resource value and the max NMT value, adjusted by the 7-day average NMT price.

Emission Factors:
- Total daily VC: Total daily value of computing resources.
- Total daily NMT: Maximum daily NMT for GPU contributors.
- Average NMT price: 7-day average NMT price.
- B: Balancing coefficient.

Daily NMT Issued:
MIN [Total daily VC/B, Total daily NMT * Average NMT price]

Additional Burning: If daily VC/B is less than total daily NMT * average NMT price, the unissued NMT is burned.

Individual GPU Rewards: Determined by: (w_i * p_i) / Σ(w_i * p_i) * total number of NMT issued
Rewards are proportional to each GPU's weighted contribution.

To be continued.
#NetMind #NMT

🔥Hello NetMind Community,

First, stay updated on our daily NMT burn totals here: https://nmscan.netmind.ai/address/0x0000000000000000000000000000000000000000

So far, we've burned 1.7 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.

As part of our commitment to long-term stability and trust in the NetMind Power ecosystem, we've implemented a lock-up of 80 million NMT. This decision, made in collaboration with our early miners and contributors, is a crucial step towards ensuring sustainable growth and value for all network participants.

More updates on locking NMT and looking ahead with series of features, products, research and business partners. Visit our blog for details: https://netmind.ai/blogDetail/NetMind-Power-Update-3-2024-03-01

URGENT NOTICE
The Netmind.ai team is aware of the recent situation that has caused a mass selloff of $NMT and is actively working on mitigation. Additional details will be shared shortly. We do not see long-term risk here, initial indications are that this was an exploit/hack related to one of the networks early miners who mined 440k $NMT. Please rest assured, the NetMind platform itself has not been compromised by any hack or malfunction.

We are pleased to announce the completion of our ETH cross-chain integration. This significant development brings two key enhancements:

NetMind Token (NMT) Now Available on Uniswap:
We're excited to expand the accessibility of NMT, now tradable on Uniswap. This marks the official introduction of NMT to the ETH Chain.

Cross-Chain Feature on NetMind Website:
To facilitate seamless transactions, the cross-chain functionality is now fully integrated on our website. An instructional video on how to operate this feature can be found below, ensuring a user-friendly experience for everyone.

Please note our official NMT address: 0x03AA6298F1370642642415EDC0db8b957783e8D6.

This address is for querying NetMind Token on PancakeSwap or Uniswap. Please do not transfer NMT to this address.

For complete details about NMT, including the circulating supply on each chain, visit our website: https://power.netmind.ai/NMT

Hi everyone, here’s the latest tweet from Kz, CEO and founder of NetMind:
https://x.com/anMe_kz/status/1768993148892528845?s=20

In this tweet, Kz has shared the background and insights of NetMind, NMT and our early miners. We are immensely grateful for your ongoing support and encourage you to check out his post for more details.

📣NetMind Power Product Update📣

NetMind Power is pleased to introduce a new feature to our platform. We now offer machine rentals via NetMind Token (#NMT), aligning with our commitment to a dynamic and sustainable tokenomy. This introduction of NMT as a payment method reflects our continuous effort to innovate and enhance the user experience. The burn rate of NMT used for resource usage fees will be dynamic, helping to maintain the balance and strength of our token system.

Along with this, we've rolled out a comprehensive library of images used for mainstream ML training, allowing for rapid instance creation and immediate utilization of computing power.

Last but not least, we've extended the free period for our model training platform, reaffirming our commitment to making advanced machine learning accessible to everyone.

🔥Product Development Highlights for NetMind Power (Q2 2024)🔥

Q2 2024 at NetMind is shaping up to be an exciting quarter! We've got some major updates lined up that will enhance your experience with us:

• Launch of the Inference Platform: The new Inference Platform will support open-source models for inference purposes. This no-code platform is designed for ease and efficiency, allowing users to seamlessly perform model inferences via UI or API. Regular updates will keep these models at the forefront of AI technology, ensuring our users always have the latest tools at their disposal for their inference needs. The introduction of this platform will be a key step in broadening our services, catering to the growing needs of users who seek straightforward, efficient AI model inferences.

• Fiat Payments: We will support using fiat currency to rent computing resources. When renting GPUs with fiat currency, our system will automatically purchase NetMind Token ($NMT) via a smart contract and pay for the GPU usage fees. For those who are not familiar with crypto, this adds a layer of convenience.

• Website Redesign: we will revamp the Power website. Our goal is to provide you with an even more intuitive and user-friendly experience.

• Optimized Computing Power Usage: We're enhancing your ability to use computing power effectively. Expect more convenient data backup functions and flexible computing resource usage, making AI-related tasks smoother with NetMind Power’s resources.

• Custom Images: Building on the recent rollout of our library of training images for machine learning, we're taking things a step further. You can expect the introduction of user-customizable images. This means you'll be able to tailor these efficient, quick-setup images to your specific needs.

Our updated tokenomics will be ready soon! Follow us closely for those details.

Join us now in leveraging the robust computing power to advance your AI projects forward!

NetMind's CEO has shared crucial updates on our long-term strategy and tokenomics. You can read his X post here:
https://x.com/anMe_kz/status/1773733121113919708?s=20

Here’s the summary:📣
1. We're evolving our approach, shifting from a 100-year to a more practical 10-year tokenomics model to ensure sustainable growth.

2. Significant reduction in total token supply, a strategic cut from 10 billion to less than 200 million, underscoring our commitment to creating a more valuable ecosystem.

3. Adjusting existing token rewards for early miners and Zealy airdrop recipients, in line with our streamlined tokenomics strategy.

4. Introducing diverse staking options, from flexible to long-term, while adjusting current staking rewards.

Go-live date for the revised tokenomics is mid April. Keep an eye out for more detailed information soon. Thank you, everyone, for your continuous support! 🔥