Liquid, the cryptocurrency exchange platform from QUOINE, has announced they will soon host an IEO for nahmii, a blockchain scaling and interoperability protocol built by Norwegian startup hubii.
The nahmii protocol is compatible with any smart contract-enabled blockchain. Currently, live on Ethereum, nahmii will be ported to Bitcoin using RSK in early-2020. Once nahmii is established as a bridge between Ethereum and Bitcoin, the team will port nahmii to other platforms.
Interoperability between blockchains is just one of nahmii’s unique features. Built with developers in mind, the protocol includes various tools (CLI, SDK, APIs) to make building on nahmii as seamless as possible.
Use-cases will include financial services to gaming, supply chain management, and IoT, any commercial product built on blockchain can benefit from nahmii.
Token Utility
NII is the native token of the nahmii ecosystem, it is required to maintain network integrity and function. Holders are rewarded and have the potential to increase their earnings by participating in network voting.
Transaction fees within nahmii play a key role in securing the protocol, with almost all of the fees going to holders of nahmii’s NII token based on the proportion of the token supply held.
Only NII tokens are accepted for staking into nahmii’s patent-pending Data Availability Oracle, which monitors the security of the protocol. Token holders have the opportunity to receive significant rewards for participating in the Oracle, which involves voting to reach consensus to maintain network integrity.
Governance
nahmii will be governed in accordance with a foundation model, whereby members are responsible for the efficient and reasonable management of the protocol.
A group of leading companies will make up the nahmii Foundation and will control 20% of NII tokens.
The first member has already signed up and will be announced shortly.
The Foundation has responsibilities including:
- Monitoring and securing the protocol.
- Setting transaction fees.
- Guiding future development.
- Promoting nahmii.
- Demonstrating possible use cases.
- Building products on nahmii.
- Overall governance of the protocol.
The hubii team are experts in building scalable software solutions, having previously created content delivery platforms serving over 50 million daily users. Based primarily in Bergen, Norway, but with staff across the globe, the core hubii team have worked together for over 10 years on a range of products.