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NAO project opens voting to proposal 6: Extend the Accelerate with NAO program
01/10/2024

Dear Nami Community,

During the next 12-week experimental of the Accelerate with NAO program, the NAO project has achieved significant milestones, including:

  • A cumulative trading volume of 19,165,727,477,634 VNST.
  • A total of 958,279 NAO were minted, increasing the circulating supply of NAO to 23,807,054 NAO.
  • The project has distributed 479,139.5 NAO to the wallets of users participating in the program.
  • The project development fund has added 479,139.5 NAO for activities and programs dedicated to users.

With the results achieved for users and the project development fund, the NAO project announces Governance Proposal No. 6 with followings:

Proposal: Extend the Accelerate with NAO program for the next 12 weeks, whereby: For every 1,000,000,000 VNST of NAO Futures trading volume, 50 additional NAO tokens will be minted and distributed to direct trading users and the project development fund, of which:

  • 25 NAO distributed to all users who completed trade and generate trading volume based on their contribution to the total weekly trading volume
  • 25 NAO allocated to the NAO Futures project development fund

Estimated delivery time is 17:00 every Sunday (UTC)

Voting time: From 2024-10-01 17:00 to 2024-10-05 17:00 (UTC).

Voting conditions: Users must be members of the NAO Governance Pool.

Application period if approved: From 2024-10-06 17:00 to 2024-12-29 17:00 (UTC)


Important notice

  • The program will last for 12 weeks from the date of approval (2024-10-06 17:00 to 2024-12-29 17:00 UTC).
  • The amount of NAO added by mint will not generate a commission for the referrer.

Voting mechanism

  • Each proposal needs a minimum of 70% of NAO tokens in the Governance Pool to vote to be considered valid.
  • Each proposal needs to reach over 50% Approval of the total number of NAO tokens participating in the vote to be approved and implemented.
  • Each user has only one vote. The decision will be reserved until the voting period ends.
  • The number of NAO users added to the Governance Pool after voting will be automatically updated to the Voting Rate.

Voting instructions

To participate in voting, users can follow the steps below:

On mobile application

  • Step 1: At the NAO Futures Wallet interface, select NAO Governance
  • Step 2: Scroll down to the Proposals section, select Proposal 6
  • Step 3: Select Vote, then select Approve or Reject

On website

  • Step 1: Access NAO Governance from the NAO Futures Wallet interface or log in with your Nami account to the website https://nami.exchange/nao
  • Step 2: Scroll down to the Proposals section, select Proposal 6
  • Step 3: Select Vote, then select Approve or Reject

Notice

  • All images used in the article are for illustration purposes only and may not represent the latest product appearance
  • Information page interface on data related to the NAO mint program such as mint transaction hash, number of NAO minted, detailed distributed quantity... will be updated later in this announcement.

Further information:

Best Regards,

Note: Nami reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.

Risk Warning: Futures trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Nami. All trading strategies are used at your discretion and your own risk. Nami will not be liable to you for any loss that might arise from your use of Futures.


About Nami Exchange

Nami Exchange is a trading platform belonging to the Nami Foundation ecosystem that enables dynamic trading and effective investing through its Spot and Futures trading systems, which offer a wide selection of more 1000 trading pairs, support leverage up to x125, and 24/7 live support in Vietnamese & English.
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Website: https://nami.exchange/

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