Nexus Token ($GP)
Update coming July 1st
Nexus ASA LLC decided to work on the Algorand platform because of its transparency; fast transaction times and inexpensive fee structure.
This decentralized app (DAPP) Nexus has created acts as a virtual middleman between two parties removing the need to trust the other party to perform on their contractual obligations.
There is no need to trust the other party or worry about whether they have the means to execute a trade as the DAPP equalizes them through collateral.
With the Nexus App both parties submit collateral to the smart contract securing their intent, collateral that will be forfeited if either party refuses to perform. While radical we believe this "mutually assured" loss of collateral will act as an incentive to ensure trades are seen to fulfillment.
Our token serves as a utility token with the Nexus Dapp to reduce the collateral fee from 2% down to 1%.
Any other utility or function would be announced to the community on Discord with 1 month notice.
The maximum supply of Nexus (GP) is 10,000,000,000 (ten billion), and the creator wallet ID is 5W3K7JJLHLFPQF7Y2JOOGATKHP46N3HNCZPYYO2XGKPTJ2P7B3KU6GPR54.
The original funding for this project comes from the creators, Jacob Woodrow and Josh Woodrow.
This creator wallet has been published here so that anyone has the opportunity to verify and track transactions.
During the early stages of development the team has been conducted "airdrops" to seed the asset among users in preparation for the future release of the platform. These airdrops are NOT released with the assumption of adding liquidity on any form of exchange. All donations are strictly voluntary, and anyone participating in the Nexus Project's development who solicits donations from the community will be removed from the project's development. Nexus does provide liquidity rewards through Algostake as of June 2022.
Since wallets on the Algorand platform are transparent, there is increased accountability for the holders of Nexus (GP). If any user of the platform misuses or attempts to misuse the asset, funds can be restricted or blacklisted, and any wallets interacting with the funding may also be banned from the system.
The Nexus Project team considered using a "clawback" function of Algorand to combat scams and misuse on the platform, but after input from the community, the team decided against this due to concerns about security risks through the clawback function.
As of June 19th, 2022, the Nexus Project's team consists of the project leaders, Jacob Woodrow (President) and Joshua Woodrow (Vice president). Nexus also has a volunteer staff consisting of four community members that hold events and answer questions regarding the project.
Aside from facilitating in-game transactions, Nexus will provide a platform for users to find each other and connect via an ‘ASA marketplace’. The marketplace will support different categories of digital and physical assets.
Any information requests can be sent to Support@Nexusasa.info or you can directly reach out via Reddit or Discord.