Nimiq Kicks Off Its Highly-Anticipated Migration to PoS with 200 Million NIM In Rewards

Nimiq, a Layer-1 payments blockchain, has unveiled a pre-staking campaign for $NIM holders, signaling a pivotal move towards its eagerly awaited transition to Proof-of-Stake (PoS). This initiative provides significant incentives for early adopters while facilitating the network’s shift towards a more energy-efficient, decentralized proof-of-stake consensus model.

Nimiq is gearing up to transition its consensus mechanism from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Pre-staking plays a crucial role in the seamless transition to Nimiq PoS. A secure migration hinges on optimizing the total amount of $NIM pre-staked and ensuring it is spread across various validators. The Pre-Staking Rewards campaign encourages all Nimiq holders to engage in pre-staking, fostering a more decentralized Nimiq network.

Participants can enhance their potential for bonus rewards by fine-tuning their pre-staking strategy with several multipliers: staking early for a time-based advantage, selecting an underdog validator to ensure a balanced distribution among all validators, and boosting their ranking in the Nimiq Space by completing Nimiq quests.

To participate in Nimiq’s pre-staking program, simply log in to the specialized dashboard set up for this initiative. Community members can now sign up for the pre-staking program and choose the Nimiq account address they plan to utilize for their pre-staking activities. For further insights, check out the announcement on Nimiq’s blog.

The pre-staking initiative is set to take place from October 7 to November 10, allowing participants to earn rewards that can be directly claimed through the pre-staking dashboard. Alongside the distribution of 100M in $NIM pre-staking rewards, early participants in the campaign will also qualify for an exclusive bonus giveaway designed for community members who jump in at the first chance. The bonus giveaway will see winners selected at random from qualified entries across three rounds, culminating in 100 pre-stakers being awarded extra $NIM rewards. This leads to an impressive allocation of 200 million NIM designated for pre-staking rewards and giveaways.

Nimiq is gearing up for a robust transition to Proof of Stake, set for November 19th, by amplifying engagement in its pre-staking campaign. This strategic move will solidify the network’s readiness for the upcoming activation phase.