Announcement and Risk Warning About The Adjustment of NAT Distribution on medium
Dear community members,
The Nebulas Autonomous Token (NAT) is the only voting medium within the Nebulas ecosystem and was first distributed just 50 days ago on May 13th, 2019. During this time of exploring on-chain governance, Nebulas has been reviewing the results as well as your valuable feedback.
The NAT program experimented with three unique distribution methods: Improve the user’s Nebulas Rank (NR) score, participation in on-chain voting and via pledging NAS. Since May 18th, 2019, users have also been able to cast their NAT on-chain vote for seven important ballots. In addition, the adjustment of NAT distribution ballot is still in process. We welcome fellow community members who are interested in NAT to discuss it in the official community forum at community.nebulas.io
During these past 50 days, the NAT project team has tested and demonstrated the rationality of NAT distribution as well as voting. The algorithm is still undergoing optimization and indeed, some methods have been controversial. With this in mind, we have decided to suspend the method of obtaining NAT via NR beginning Monday, July 8th, 2019. The Pledge NAS method to obtain NAS will remain unchanged.
There are two benefits to this adjustment:
After participating in on-chain voting, regardless of your method of NAT receivership, NAT will be destroyed immediately upon voting thereby reducing the overall supply. If the ballot of adjusting NAT distribution based on Pledging is approved, users may choose to wait until the ballot is completed prior to operation.
The process of intricate and continuous transfer of NAS to improve a addresses Nebulas Rank has not added any positive value to the Nebulas ecosystem and will no longer be rewarded NAT. This is to ensure the fairness of NAT acquisition.
In addition, we have found out that there have been offline trading transactions of NAT within the community. We must reiterate that the trading of NAT is very risky and this has been repeatedly emphasized since the release of NAT:
NAT does not make any reservations or private placements for the asset. Address holders can obtain NAT via three methods: Improving the Nebulas Rank score of their address, participating in Nebulas on-chain voting and via Pledging NAS.
The sole purpose of NAT is for voting within the Nebulas ecosystem. During the initial distribution of NAT, the volume and volatility fluctuated greatly which demonstrated the high-risk nature of this asset. Please be aware of this prior to investment and the completion of offline transactions.
Nebulas officials have never made a commitment such as listing NAT on an exchange nor has implied value of NAT. Again, the purpose of NAT is for on-chain voting within the Nebulas ecosystem.
For all information about NAT distribution, please refer to the relevant announcement issued via the official Nebulas website (nebulas.io); Please be aware of fake applications, news, phishing websites, phishing emails, fake customer service, etc… The Nebulas team will never ask users for their private keys — be conscious of potential fraud. Nebulas is not responsible for the loss incurred by users or third parties.
The NAT Project Team
July 2nd, 2019