Synopsis : Staking opportunity using Smartcontracts on the Ethereum blockchain via the NRGY staking rewards program.
Conclusion : with some caveats but this has real potential to make big profits as the platform develops as Defi grows and more DApps come online.
Seed intact: 3/5
Currency transferred onto the NRGY platform (paid in ETH) is used for staking. The referral / community builder rewards mean that any deposits reduce by 25% to cover this overhead.
NRGY coins can be un-staked at any time, but un-staking carries a penalty where 7.5% of coin value will be ‘burnt’ reducing your withdrawal amount accordingly. Any compounding accrued during the last 30 day period will also be lost.
Low fees: 2.5/5
Transfer of Ethereum to your Metamask wallet will involve the usual blockchain transaction fees.
There is also a larger gas fee owing to the creation of the NRGY Smartcontract (this will reduce substantially when Ethereum 2.0 goes live later this year).
NRGY coin rewards are accrued each week and are automatically added back into your NRGY wallet enabling compounding of your fund.
Profit potential: 5/5
- minting of coins only for the first 100 week period – weekly rewards are only generated for staked NRGY during this time
- monthly yield is doubled if NRGY coins remain staked
- during and beyond the 100 week minting schedule, accounts with 25+ NRGY coins are entitled to a proportinal share in the 20% revenue stream generated from DApps running on the platform
With a limited coin supply each week, as more people add liquidity to the pool, the fewer coins there are available. The more liquidity in the pool, the higher the USD price for NRGY coin.
The compounding feature of coin staked, should mean that even for a relatively small investment of 1 or 2 Ethereum now, most investors will have accrued more than the required 25 NRGY coins well before the end of the 100 week minting schedule meaning they will also be entitled to a proportion of the 20% revenues generated by DApps on the NRGY platform (note: if more than 25 coins are staked or achieved through compounded rewards before 100 weeks – that account is immediately entitled to a share of any DApp revenues generated).
NRGY Staking Rewards is an opportunity for consideration over the longer term. Whilst rewards are given each week for staked coin, this opportunity (like many Cryptocurrency opportunities) is not a vehicle for making big profits in a short space of time. The genuine value will most likely be found over the long term.
Having gone live in February 2021, the project is still very much in its infancy but I genuinely believe it could make some really big strides forward over the coming months and gain significant momentum in the Defi space. If the coin price continues to grow and we see it exceed 1,000 USD in the coming weeks/ months as DApps join the platform, the returns could be very signficant indeed. Whilst the historical prices mentioned in the first few weeks of this project are no guarantee of future success, the potential for this project is plain to see. The opportunities presented are significant for DApp developers and Community Builders alike. Sign up today, and become a player in the new Defi revoution that gives power to the people.
- Want to be in full/secure control of your funds?
- Want to help grow a Community driven Defi project?
- Want excellent weekly / automatically compounded rewards on your money (approx. 4% per week)?
- Want flexible withdrawal of your funds at any time?
If the above sounds interesting please continue reading below, this may be an opportunity you really don’t want to pass by without further consideration. It is reasonably time critical – the minting of coins only runs for 100 weeks from mid February 2021 so staking rewards.
A new revolution in Decentralised Finance (Defi) is upon us. This page will provide you with an insight into a brand new opportunity for you to make easy / handsome returns from staking on the Ethereum blockchain using Smart-Contract technologies.
A collection of individuals with significant market knowledge from the financial markets have created a brilliant new idea underpinned by the development of a community driven marketplace that provides liquidity for a new financial instrument, the NRGY coin. It is actually a token on the Ethereum blockchain and is fundamental to the creation of a new generation of Distributed Applications (DApps) to be built on the blockchain handling transactions. The principles of this opportunity I have listed below which will help you get a better understanding of the primary benefits offered by this project.
A presentation was held over a Zoom call mid February 2021 between key individuals on this project- this meeting / presentation you can view below. I would highly recommend anyone serious about getting involved with this fantastic opportunity to watch the video from beginning to end, but it is one and a half hours long, so grab yourself a drink!
The concepts presented lead me to believe this has real potential in the developing Defi marketplace. Not only are users rewarded for staking on the network but they can also generate further regular revenue in the longer term (after the 100 week minting period has completed), from DApps running Smart-contracts on the NRGY network.
I believe the principles underpinning it to be sufficiently sound and unique helping drive it forward and enable it to make a genuinely important contribution to the Defi and Smartcontracts marketplace for many years to come. As users provide more liquidity to the pool of NRGY coins through staking , DApp developers will be encouraged into the marketplace with real potential for their software applications giving their Defi projects the greatest chances of success.
What is NRGY?
NRGY is new unique decentralized finance offering the opportunity for members of the public. It enables people around the world to join a community of like-minded individuals who pool their funds for the mutual benefit of the network. As more money is staked on the platform there is greater incentive for Defi developers to use the NRGY platform as foundation for the development of distributed applications. As these DApps evolve, they generate revenue for their developers and a portion of that revenue is paid to the community that helped bring their ideas to the market. Member funds are staked in a liquidity pool on Uniswap although ‘market maker staking‘ as it is known, is enabled through a simple custom web browser interface called Community Builder.
Market Maker Staking
NRGY Rewards enable investors to participate in a community based opportunity generating returns of approx. 4% weekly during the first 100 weeks (from Feb 2021) of the project whilst coins are minted.
As a further incentive, monthly reward yields are doubled where coins remain staked on the platform.
Beyond this period, stakers will continue to generate revenues from a share of 20% of generated revenues returned from DApps running on the NRGY platform.
The video below was recorded by Vitaly – an NRGY subscriber and his interaction with key members of the NRGY marketing team. It gives fully qualifying explanation on how the community is structured and what you can hope to achieve from actively participating & staking NRGY on the Ethereum blockchain.
However, for those of you that may not have the time to sit through the whole of this – to enable you to access specifics I have summarised these below – and where possible I have provided a timestamp link so you can jump straight to the section where this is discussed in more detail.
- The NRGY Community uses Smart-Contracts to facilitate staking of user funds providing liquidity to DApps on the network. Smart-contracts enables safe and secure allocation of user funds on the network.
- user funds are transacted using the MetaMask wallet (a browser extension available through the Google Chrome browser) , IMPORTANTLY : users are in full control of their funds at all times NOTE: no third party has access to your funds/rewards, you are solely responsible for the security of your Metamask wallet.
- Users can withdraw their funds / rewards at any time ie. there is no requirement for users to apply to make withdrawals ahead of removing funds
- Users transfer Ethereum into the Metamask wallet and the Eth is staked on the NRGY network, in return the user is credited with NRGY coins equivalent to the Eth pooled/invested.
- Fees : there are two small one off fees of $10 usd each BUT the network uses the Ethereum protocol
- At this time Gas fees for Ethereum transactions are high. For the creation of Smart-Contracts securing your user funds, the fees are higher still (you may find staking at other times of the day may help reduce these fees to some degree / I staked my coins at 6.30AM GMT and paid $180 (!) – as they mention in the video, it isn’t unknown in some instances for these to be be between $200-$250
- Fees : there are two small one off fees of $10 usd each BUT the network uses the Ethereum protocol
At this time Gas fees for Ethereum transactions are high. For the creation of Smart-Contracts securing your user funds, the fees are higher still (you may find staking at other times of the day may help reduce these fees to some degree / I staked my coins at 6.30AM GMT and paid $180 (!) – as they mention in the video, it isn’t unknown in some instances for these to be be between $200-$250)
- Each week a fixed amount of coins are released and made available for staking in accordance with the 100 week staking schedule. Additionally, coins are only minted provided new liquidity is introduced to the network
As pool liquidity on the network increases so the number of NRGY coins available for staking for that week reduces.
- The increased levels of liquidity will make the platform very appealing to DApp developers
- The platform is truly decentralized on account that it is built upon IPFS (interplanetary file system). This is a peer-to-peer protocol designed to make transactions faster, safer, and more open). Crucially, at present no other Defi coin utilizes this technology
- User interaction with the NRGY platform is made simple with the Community Builder interface through your web browser.
- Users weekly rewards are added to the total NRGY coins staked on the network effectively compounding your returns week by week – building your fund quickly
- Market supply guaranteed to be no more than 4.4 million coins / current coins in circulation 180,000 (March 2021).
- A withdrawal of NRGY coins requires a mandatory burn of 7.5% of the coins – whilst this seems harsh, it is a necessary requirement to prevent people from ‘gaming’ the system ie. to discourage staking when the price is low / withdrawing when the price of NRGY is high etc. (when coins are burnt, they are fully liquidated ie. removed from total circulation).
- Users with at least 25 NRGY staked at the end of this 100 week period will be entitled to 20% of all revenue generated by from all DApps running NRGY contracts on the network.
- As a staker / community builder, you are entitled to help spread the word about this exciting Defi opportunity and pass the message onto friends and family. This is extremely simple to do. In the Community Builder – your interface with the NRGY network, you have a referral link. Simply pass the link on and you will receive a referral fee for your good work! Referrals are paid at a rate of 25%.
- If you refer someone, 15% goes to you as Level 1 & 10% goes to your referrer as Level 2.
- These are paid immediately and directly into your linked Metamask wallet.
- The referrals (for Community Builders) are paid directly from user funds when they stake NRGY coins (eg. the users fund will reduce by 25%), but the compounding effect of your staked coins will ensure users can make those funds and the gas fees back in a very short period of time.
You can view live market price information of NRGY coin, transaction information, total available liquidity, on the Uniswap platform.
For further due diligence it is suggested that you watch the following video if you can. It aims to clarify specifics of this project and provide further transparency.
Want to join the NRGY community?
Joining the NRGY community of stakers couldn’t be simpler. It is strongly recommended that you do this on a laptop or desktop PC. The walkthrough below provides instruction for getting joining the community using a PC (Smartphone connectivity will be available soon ….)
Follow the steps detailed below to get started . There is a very quick run through in the video (but be sure to use MY LINK and not the address shown in the video, thank you!
- Using Google Chrome web browser (I prefer the Brave browser for vastly superior ad-blocking, page load speed and enhanced security – it also enables you to earn BAT tokens too…) , visit METAMASK.IO and install the METAMASK browser extension.
- Top right hand corner of the browser window : select the Jigsaw Piece icon and make sure Metamask is pinned to the toolbar – then click Get Started button. Move through the following prompts: Create a Wallet …/ I Agree… then add your wallet password.
- Metamask will then generate your wallet and the only way to recover the contents of this wallet (if you have a problem later on), is using the seed phrase. Be sure to make a paper copy of your seed phrase and store safely. DO NOT take a photo on your phone or store as a text document on your computer – these can be accessed by hackers and the contents of that wallet will be exposed & funds stolen
- To add funds to your Metamask wallet, purchase your Ethereum coins using an exchange Coinbase, Binance etc. and send these to your Metamask wallet. Select the fox icon from the browser toolbar and in the dialog box that displays your ‘destination’ wallet address is shown underneath the grey bar with the image of the fox . Click with the mouse to copy it to the clipboard – pop over to your exchange wallet and paste this address in as the Receipient of your funds.
- Load the Community Builder platform enabling you to interact with the NRGY staking pool. To do this, follow this link. With the builder displayed, press ‘Connect Wallet‘ (you MUST also be logged in to your Metamask wallet, otherwise the connection will fail…).
- Assuming you have Ethereum in your Metamask wallet and the wallet has connected successfully to the Community Builder, under the menu item ASSET click Etherum – the row will drop down and you will now see your Ethereum balance on the right hand side. Enter the required amount of Eth where it says ‘ENTER ETH AMOUNT’ and and press STAKE. You will be prompted with notification of the Ethereum Gas fees that will be due for processing your transaction & creating your Smartcontract – proceed if you are happy to accept these charges (the charges can vary according to network congestion/time of day) and Confirm the transaction. NOTE : you will see a Transaction processing message. Be sure that the Metamask Wallet has acknowledged your Confirm action. For me, although the processing message displayed on screen, the Metamask wallet was hidden behind the browser display and crucially my confirmation had not been acknowledged by Metamask which was still awaiting my response, so despite the message, the transaction was not processing after all. To resolve this I brought the Metamask application to the foreground (use Task Manager on a PC). I pressed the Confirm button and the Eth displayed in the Community Builder wallet, shortly afterwards.
- Once processed, your Community Builder screen will populate with the NRGY coins that you have been credited in exchange for staking your Ethereum in the liquidity pool on the network.
- If you need to withdraw your holdings from the pool, the operation is reversed. Under ASSET, in the right hand view : enter the required amount of NRGY where it says ‘ENTER NRGY AMOUNT’ and and press UNSTAKE & CLAIM. The coins will be switched for Ethereum coins – of equivalent value to the NRGY coin price – and be credited to your Metamask wallet. NOTE: As mentioned earlier, unstaking your NRGY coins will result in an automatic burn of 7.5% of the coins you are unstaking ( to try and prevent unscrupulous individuals from taking advantage and ‘gaming’ the system). However, this also benefits holders of NRGY in the longer term. As the total NRGY coin supply reduces, the value of the remaining NRGY coin in circulation increases.
I think my life changed the day I learned about this amazing guy whom I share the name with – Aaron Savage. He was among the first people ever to advocate for freedom of information and the internet, and I feel he would support a great deal of decentralized finance idea if he was alive today. So, I am just another IT guy, super curious about crypto and writing my opinions and analyses here from time to time. Enjoy!