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NymVPN launched a perpetual token buyback mechanism that features a new working model for DePIN (Decentralized Physical Infrastructure Network) tokens. This effort enables anonymous access for users while simultaneously compensating those who provide the network’s services. Another Step Before the Final Launch According to a document shared with CryptoPotato, NymVPN is scheduled for a commercial launch on March 13. The project’s zero-knowledge payment system and the perpetual token buyback program are set to go live for public testing on February 26. The team behind the project has invited the community and general public to battle-test this novel payment mechanism and help kickstart the economic cycle of Nym DePIN. Decentralized Physical Infrastructure Network, for its part, is considered vital since it provides the layer-0 anonymity network, which is particularly needed across Web3. Commenting on the initiative was Harry Halpin – CEO of Nym: “We launched the NYM token in 2022 to reward mixnet node operators helping us build the world’s most decentralized and anonymous network. The launch of NYM activated the supply side of privacy and created a network of over a thousand nodes. Today, we are activating the demand side, allowing ordinary users to pay in fiat and Bitcoin for NymVPN. Their payment is then converted to NYM token buy-orders to keep the network running.” How Does the System Work? The market for VPNs was forecasted to reach roughly $500 billion by 2034. However, the vast majority of those networks have the necessary privacy protections. Nym’s DePIN model, however, offers a solution. According to the document, the buypack program supports two of NymVPN’s core features: zero-knowledge anonymous credentials (zk-nyms) and a token incentivized mix network of node operators. Via the mechanism, all fiat and crypto subscriptions to NymVPN will be converted to NYM tokens by default. This will establish a self-sustaining cycle that naturally reflects market demand for NymVPN’s services. Keep in mind that this approach is distinct and far more comprehensive than a typical token buyback, where a fixed amount of coins is repurchased from the market often to bolster company treasuries. Subscribers to the mechanism need to possess NYM tokens themselves or pay in crypto. Subscriptions can be purchased using fiat currency like euros and dollars, as well as in Bitcoin or directly in NYM coins. “Just like everyone should enjoy clean water and electricity, people deserve secure and private communication. This is not speculative, but a growing real-world need. And with the launch of the perpetual buyback mechanism, the token can shift out of a speculative promise to instead signal such real-world demand,” Jaya Brekke, Nym’s Chief Strategy Offer, stated. The post NymVPN Introduces a Perpetual Token Buyback Mechanism as the Network Goes Live for Public Testing appeared first on CryptoPotato.

Billionaire investor Tim Draper has announced a groundbreaking partnership between Cardano Foundation and Draper University, starting the Cardano X DraperU Founder Residency Program. The project will increase the reach of the Layer 1 blockchain, and the application deadline is March 1, with selections announced on March 15th. In a post on X (formerly Twitter), Draper confirmed the partnership with Cardano while adding that the duo will “support UTxO-based startups building the future of Bitcoin DeFi.” Cardano founder Charles Hoskinson noted that Draper’s presence in the crypto ecosystem will be beneficial for new projects. Related: Charles Hoskinson’s Encrypted Statement: What Is Cardano Up To? Based on the official page , those who build on Cardano would get a 42K ADA grant (equity-free). The 5-week residency program will begin on March 31st and happen at Draper University, where housing will be covered for the participants for the length of the course. During the five weeks, the participants will receive technical training on Cardano blockchain development; workshops on entrepreneurship, product development, and fundraising; mentorship from industry leaders and networking opportunities; and a pitch day with venture capitalists and possible investment opportunities. At press time, Cardano (ADA) is trading at $0.6627, down 3% in the last 24 hours, shows CoinMarketCap . The ADA daily chart below indicates that the Relative Strength Index (RSI) is at 35.15, which suggests that sellers are mostly in control of the ADA price movement. The gradient of the line points to lower prices. The ADA price action is currently testing the support at $0.6435 (the lower Bollinger Band). Related: Staked Cardano ETP Goes Live on Nasdaq Helsinki via Virtune If it holds, the altcoin could try to break out above the middle Band at $0.7478 and the upper Band at $0.85. If buying pressure increases, ADA could rally toward the $0.75 – $0.80 range, but if selling pressure continues, ADA may retest $0.64 – $0.63 before finding stability. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Haedal to enable Walrus LST for enhanced Sui staking Haedal, a Sui-based liquidity staking protocol, announced via X that it will soon support the Walrus Liquid Staking Token (LST), enhancing liquid staking for Walrus Protocol. This integration utilizes Haedal’s infrastructure to improve decentralized storage and staking for Sui $SUI users.

Metaplanet issues $19.3M in ordinary bonds to fund its $BTC acquisition Metaplanet, a Japanese publicly listed company known for investing in Bitcoin (BTC), announced via X that it has issued 2 billion yen ($19.3 million) worth of ordinary bonds to fund its further Bitcoin (BTC) acquisition.

Mint unveils tokenomics of its native token $MINT Ethereum $ETH layer-2 network Mint has shared via X the tokenomics of its native token, MINT. MINT is designed with an initial supply of 1 billion tokens, of which 50% is allocated to the MintDAO, 20% to early contributors, 18% to the MintCore team and 12% to the community airdrop.