The Nebulas network has its own built-in token, NAS. NAS plays two roles in the network. First, as the original money in the network, NAS provides asset liquidity among users, and functions as the incentive token for PoD bookkeepers and DIP. Second, NAS will be charged as the calculation fee for running smart contracts. The minimum unit of NAS is 100 million NAS.
Originally, NAS was sold as ERC20 token on the Ethereum platform, with the maximum NAS aggregate of 100 million.The issuance modes are as follows:
1.Community Construction: Under the direction of the Nebulas sponsor team, 80%X tokens will be used for Nebulas community construction, including ecological incubation and incentive of the Nebulas community blockchain app (DApp), construction of developer community, business and industrial cooperation, marketing and promotion, academic research, educational investment, laws and regulations, and investment in communities and organizations. Specifically, 5%X will be sold to community impact investors, 5%X as Nebulas community development fund and 70%X for reservation.
2.Sponsor and Development Team Incentives: Throughout the development of Nebulas, the sponsor and development teams will continuously make human and material resource contributions in aspects of project organizational structure, technology research and development and ecological operation. As for token allocation, 20%X is reserved for team incentive purpose. This part of NAS is initially locked and will be unlocked one year after the completion of the first NAS sale to the community, and gradually distributed to the sponsor and development teams in three years.
After the official launch of Nebulas network, any users with Ethereum ERC20 NAS tokens can claim equivalent NAS of Nebulas network using related credential, and the Ethereum ERC20 NAS tokens will be reclaimed. With the evolution of Nebulas network, NAS will grow in the following way:
1. PoD incentive: 3%X incentive NAS per year for bookkeepers;
2. DIP incentive: 1%X incentive NAS per year for outstanding smart contract developers.