⚠️ Important update on the Lend and Borrow dApps! ⚠️
As a vital step in bug resolution, we’re implementing the following temporary changes to the Lend and Borrow dApps.
As we continue to resolve the Lend and Borrow bug, we wanted to update the community on the recent progress.
For the Borrow dApp:
☑️ Borrowing new loans & extending existing loans has been ceased temporarily
☑️ Only repayment function for existing loans remains active
For the Lend dApp:
☑️ Deposit withdrawal has been ceased temporarily
☑️ The rewards for existing lenders are being calculated, keeping the conditions for reward calculation the same as when operations were functioning normally
☑️ Once the calculation concludes, liquidity will be injected into the pools, and deposit withdrawal will begin functioning once again. Reward accrual will resume at the same time.
⏳The bug resolution time is being estimated until the end of March.
✅ The bug has not affected or implicated the n-NFT functionality, and it continues to function optimally and unhindered!
As a vital step in bug resolution, we’re implementing the following temporary changes to the Lend and Borrow dApps.
As we continue to resolve the Lend and Borrow bug, we wanted to update the community on the recent progress.
For the Borrow dApp:
☑️ Borrowing new loans & extending existing loans has been ceased temporarily
☑️ Only repayment function for existing loans remains active
For the Lend dApp:
☑️ Deposit withdrawal has been ceased temporarily
☑️ The rewards for existing lenders are being calculated, keeping the conditions for reward calculation the same as when operations were functioning normally
☑️ Once the calculation concludes, liquidity will be injected into the pools, and deposit withdrawal will begin functioning once again. Reward accrual will resume at the same time.
⏳The bug resolution time is being estimated until the end of March.
✅ The bug has not affected or implicated the n-NFT functionality, and it continues to function optimally and unhindered!
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👋Hey Nimbus Community,
Metaverse…one of the hottest buzzwords today.
For some, Metaverse is a Facebook rebranding, and for others, it is the recent GamFi or NFT boom.
But did you know the Metaverse as a concept dates way back to the late 90s?
Doe the most people, the Metaverse is formerly Facebook...If you ask, a crypto community metaverse is GamFi and NFT, and virtual reality.
In reality, it is sort of a mix of both.
The term Metaverse was first coined in the cyberpunk novel called ❄️Snow Crash written in 1992 by Neal Stephenson.
In the book, the Metaverse was described as a shared “imaginary place” that is “made available to the public over the worldwide fiber-optics network” and accessed via virtual reality goggles.
✅ With this definition, the argument could be made that the Metaverse is actually both those things. XR (extended reality VR/AR) combined with decentralized public trust (crypto)
Almost 30 years from its first mention in the book Snow Crash, Metaverse has evolved into a whole new sector, recalling the attention of even the biggest celebrities on the planet.
For instance, 🎵Snoop Dogg is creating his very own Snoopverse, while 👸Paris Hilton is allowing users to purchase her virtual outfits.
Amidst skepticism, Metaverse seems to be blossoming into a prominent industry.
The global metaverse market size is predicted to attain USD 678.8 billion by 2030, according to a new report by Grand View Research, Inc.📈
Metaverse…one of the hottest buzzwords today.
For some, Metaverse is a Facebook rebranding, and for others, it is the recent GamFi or NFT boom.
But did you know the Metaverse as a concept dates way back to the late 90s?
Doe the most people, the Metaverse is formerly Facebook...If you ask, a crypto community metaverse is GamFi and NFT, and virtual reality.
In reality, it is sort of a mix of both.
The term Metaverse was first coined in the cyberpunk novel called ❄️Snow Crash written in 1992 by Neal Stephenson.
In the book, the Metaverse was described as a shared “imaginary place” that is “made available to the public over the worldwide fiber-optics network” and accessed via virtual reality goggles.
✅ With this definition, the argument could be made that the Metaverse is actually both those things. XR (extended reality VR/AR) combined with decentralized public trust (crypto)
Almost 30 years from its first mention in the book Snow Crash, Metaverse has evolved into a whole new sector, recalling the attention of even the biggest celebrities on the planet.
For instance, 🎵Snoop Dogg is creating his very own Snoopverse, while 👸Paris Hilton is allowing users to purchase her virtual outfits.
Amidst skepticism, Metaverse seems to be blossoming into a prominent industry.
The global metaverse market size is predicted to attain USD 678.8 billion by 2030, according to a new report by Grand View Research, Inc.📈
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The bull market is here? Terra CEO, Do Kwon revealed plan to add $10b worth bitcoin to its reserves. The project expects to become one of the world’s largest stakeholders of BTC. This, in turn, will allow to backstop short-term UST redemptions and to build a decentralized forex reserve.
Crypto in masses! Ukraine’s president signed into law that bill, named “On Virtual Assets,” which establishes a legal framework for the country to operate a regulated crypto market. Crypto exchanges will now be required to register with the government to operate legally in the country.
PayPal’s CEO – the crypto industry could transform the financial system. Dan Schulman believes the intersection between digital assets, CBDCs, stablecoins, and digital wallets will redefine a lot of the financial world going forward. Hopefully, privacy will remain…
Metaverse continues to expand: Rihanna has filed for a trademark to sell virtual cosmetics under the Fenty brand. The product line will include makeup and hair accessories, skin care preparations, soaps, and perfumes for use in online virtual worlds.
Crypto in masses! Ukraine’s president signed into law that bill, named “On Virtual Assets,” which establishes a legal framework for the country to operate a regulated crypto market. Crypto exchanges will now be required to register with the government to operate legally in the country.
PayPal’s CEO – the crypto industry could transform the financial system. Dan Schulman believes the intersection between digital assets, CBDCs, stablecoins, and digital wallets will redefine a lot of the financial world going forward. Hopefully, privacy will remain…
Metaverse continues to expand: Rihanna has filed for a trademark to sell virtual cosmetics under the Fenty brand. The product line will include makeup and hair accessories, skin care preparations, soaps, and perfumes for use in online virtual worlds.
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👋Hello Nimbus Community,
The trip to Dubai with the Affiliate Program Contest winners was a success!
The itinerary for our guests was full of presentations and events....a lot of learning and exploring the future of Nimbus, Crypto, and emerging tech.
And don't worry, we made sure to add fun with barbeques and dinners for our beloved guests and a yacht⛵️trip across Dubai's serene waters.
We feel privileged to be able to know and spend quality time with the members of our community.
Feeling even more motivated💪and enthusiastic about delivering Nimbus's vision and working towards the prosperity of our community🙌
The trip to Dubai with the Affiliate Program Contest winners was a success!
The itinerary for our guests was full of presentations and events....a lot of learning and exploring the future of Nimbus, Crypto, and emerging tech.
And don't worry, we made sure to add fun with barbeques and dinners for our beloved guests and a yacht⛵️trip across Dubai's serene waters.
We feel privileged to be able to know and spend quality time with the members of our community.
Feeling even more motivated💪and enthusiastic about delivering Nimbus's vision and working towards the prosperity of our community🙌
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👋 Hey Nimbus Community,
Private, public, custodial, non-custodial….crypto wallets come in many forms.
How do you determine which type of crypto wallet is right for you?
We figured...the best way to do that is to learn about these different types. And so on Nimbus Glossary, we are covering Custodial Wallets vs. Non-Custodial Wallets
Fact Check:
✔️ Bitmex, Binance, or Freewallet are some examples of custodial wallets
✔️ Ledger, keepkey, and Trezor are a few examples of non-custodial wallets
✔️ The fear of losing or forgetting your private key might deter you from considering a non-custodial wallet. However, the benefits override inconvenience in this case.🤔
✔️ While allowing a third party to manage and secure your cryptocurrencies is convenient, giving up control can create susceptibility to exit scams, hacking, and theft.
✔️ A custodial wallet provider can impose a maximum withdrawal limit or unilaterally set fees for using their services. You can temporarily lose access to your crypto if the platform has technical issues. Basically, your assets are at someone else’s mercy if you don’t own your keys. After all, as they say, “not your keys, not your coins.”
✔️On the other hand, a non-custodial wallet gives you a complete charge of your hard-earned digital assets. You set your own rules and do with your funds as you wish. However, you alone are responsible for the safety of your keys.
Private, public, custodial, non-custodial….crypto wallets come in many forms.
How do you determine which type of crypto wallet is right for you?
We figured...the best way to do that is to learn about these different types. And so on Nimbus Glossary, we are covering Custodial Wallets vs. Non-Custodial Wallets
Fact Check:
✔️ Bitmex, Binance, or Freewallet are some examples of custodial wallets
✔️ Ledger, keepkey, and Trezor are a few examples of non-custodial wallets
✔️ The fear of losing or forgetting your private key might deter you from considering a non-custodial wallet. However, the benefits override inconvenience in this case.🤔
✔️ While allowing a third party to manage and secure your cryptocurrencies is convenient, giving up control can create susceptibility to exit scams, hacking, and theft.
✔️ A custodial wallet provider can impose a maximum withdrawal limit or unilaterally set fees for using their services. You can temporarily lose access to your crypto if the platform has technical issues. Basically, your assets are at someone else’s mercy if you don’t own your keys. After all, as they say, “not your keys, not your coins.”
✔️On the other hand, a non-custodial wallet gives you a complete charge of your hard-earned digital assets. You set your own rules and do with your funds as you wish. However, you alone are responsible for the safety of your keys.
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✋Hey Nimbus community,
😱Satoshi Island has received 50,000 applications for free Citizenship NFT. Will it become a home for the crypto community? Even if the utopia did not live up to its happy promise, it will surely help boost the adoption of digital currencies.
🧠Florida governor: digital dollar cannot be compared to Bitcoin. The CBDC would give the government the ability to control what the citizens spend on and how they spend their money. Do we want a China-like authoritarian control over people’s finances?
👽Meta applied for a trademark that would allow their logo to be used for crypto tokens and virtual exchange. This move indicates the company’s interest to venture into virtual space. Eventually, it will help build an ecosystem around their Metaverse.
🙈The battle around the future of Ripple continues: the SEC has been granted an extension to submit a discovery schedule relating to individual defendants. Some have suggested that the enforcement body is slowing the case down to frustrate Ripple Labs.
😱Satoshi Island has received 50,000 applications for free Citizenship NFT. Will it become a home for the crypto community? Even if the utopia did not live up to its happy promise, it will surely help boost the adoption of digital currencies.
🧠Florida governor: digital dollar cannot be compared to Bitcoin. The CBDC would give the government the ability to control what the citizens spend on and how they spend their money. Do we want a China-like authoritarian control over people’s finances?
👽Meta applied for a trademark that would allow their logo to be used for crypto tokens and virtual exchange. This move indicates the company’s interest to venture into virtual space. Eventually, it will help build an ecosystem around their Metaverse.
🙈The battle around the future of Ripple continues: the SEC has been granted an extension to submit a discovery schedule relating to individual defendants. Some have suggested that the enforcement body is slowing the case down to frustrate Ripple Labs.
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🚀 Livestream alert!
A community adored event is happening again. We are happy to announce another live stream with Alex Lemberg, the CEO of the Nimbus Platform!
⏰ Save the date on Thursday, March 31, at 6:00 pm UTC.
Alex will talk about the news and updates of the first months of 2022, future plans, and more. Don't miss it out!
A community adored event is happening again. We are happy to announce another live stream with Alex Lemberg, the CEO of the Nimbus Platform!
⏰ Save the date on Thursday, March 31, at 6:00 pm UTC.
Alex will talk about the news and updates of the first months of 2022, future plans, and more. Don't miss it out!
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⚠️ Important update on the Lend and Borrow dApps!⚠️
We continue to work on restoring the full functionality of Lend and Borrow dApps. The previous posts on the Lend and Borrow Bug can be found here and here. With this update, we hope to keep our community in the loop with the progress made so far:
✅ We've completed the recalculations of the underpaid rewards to the users affected by the bug. In fact, rewards are already being distributed, and we've covered 50% of the transactions. Rewards will arrive directly in the users' wallets with no vesting by next week.
✅ Previously, we stated the bug didn't affect n-NFT functionality. Unfortunately, that piece of information was not quite accurate. We made some changes at a later part to optimize performance for n-NFT holders. These changes are as follows:
✔️The Smart LP n-NFT provided access to 3 Nimbus functionalities: LP, LP Staking and Lend dApp. Due to the bug, the Lend dApp was put on hold.
✔️ We wanted to ensure that the n-NFT holders could unlock the full potential of their assets. So we removed the Lend dApp from the Smart LP n-NFT strategy. This means, user's deposited asset (BNB) is divided into BNB/NBU and BNB/GNBU pools and redirected in full to the LP Staking functionality.
✔️ With this change, users will receive 100% of rewards in NBU tokens for LP Staking + 0.3% Swap fees from all the transactions made in these pairs.
⏳ The bug resolution time is being estimated at up to 2 weeks. Once the bug is resolved, we will share a detailed outline of the patch deployment and the update's new parameters.
If you have any questions, please contact support via this link 👉 Here!
We continue to work on restoring the full functionality of Lend and Borrow dApps. The previous posts on the Lend and Borrow Bug can be found here and here. With this update, we hope to keep our community in the loop with the progress made so far:
✅ We've completed the recalculations of the underpaid rewards to the users affected by the bug. In fact, rewards are already being distributed, and we've covered 50% of the transactions. Rewards will arrive directly in the users' wallets with no vesting by next week.
✅ Previously, we stated the bug didn't affect n-NFT functionality. Unfortunately, that piece of information was not quite accurate. We made some changes at a later part to optimize performance for n-NFT holders. These changes are as follows:
✔️The Smart LP n-NFT provided access to 3 Nimbus functionalities: LP, LP Staking and Lend dApp. Due to the bug, the Lend dApp was put on hold.
✔️ We wanted to ensure that the n-NFT holders could unlock the full potential of their assets. So we removed the Lend dApp from the Smart LP n-NFT strategy. This means, user's deposited asset (BNB) is divided into BNB/NBU and BNB/GNBU pools and redirected in full to the LP Staking functionality.
✔️ With this change, users will receive 100% of rewards in NBU tokens for LP Staking + 0.3% Swap fees from all the transactions made in these pairs.
⏳ The bug resolution time is being estimated at up to 2 weeks. Once the bug is resolved, we will share a detailed outline of the patch deployment and the update's new parameters.
If you have any questions, please contact support via this link 👉 Here!
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