NRG or “Non-Relational Graphs” are the underlying coin of the entire Proof of Distance ecosystem. It is used primarily as collateral to de-risk, prioritize, and facilitate value transfers between ordered datasets. The technology stack was designed so that any event can be expressed in terms of NRG, be it a trade, smart contract execution, or insurance linked instrument. NRG could be compared to Gas on Ethereum in that it fuels the economics of mining.
There is no pre-mined NRG. To earn it, you must mine it. NRG is awarded to block and transaction miners. Each block winner receives 16 NRG + the Emblem NRG Bonus*. Another method to get NRG is to purchase or loan it from a 3rd party.
*Emblem NRG Bonus only rewarded if the winner is utilizing EMB.
Trading on Borderless is facilitated by collateralizing NRG, a process which involves locking up a certain amount of NRG as collateral to ensure the trade goes through. Read more about Collateralization of NRG here.
Currently the number of circulating NRG sits at around 28.8 Million. As blocks are mined, that number will increase until it reaches 9.8 Billion, the fixed amount of mineable NRG.
Emblems (EMB) are the utility coins of Block Collider. If you are mining NRG, Emblems attached to your mining address significantly increase the size of your mining reward. Miners who own Emblems earn more NRG per block as a bonus and can issue larger blocks with more transactions.
Emblems and NRG represent an application of ‘meso-economic theory’ in a decentralized blockchain protocol (read more about meso-economics here). One coin, EMB, allows you to upgrade the performance of the network through mining rewards and large blocks, while the other, NRG, powers all of the transactions within the network. EMB is like owning the gas station, NRG is the gas. By splitting the two, the utility of the network is designed to reach a technological and economic optimum through interplay between EMB and NRG.
The additional NRG granted to users with Emblems attached to their mining address is between 16 NRG and an additional 166 NRG. The algorithm calculating the NRG bonus for EMB is logarithmic. This means that as you own more Emblems, the relative cost of each bonus unit of NRG increases. To get any reward you must have at least 160 EMB and reaching their maximum marginal utility at 5,855,225 EMB. Any amount below 160 EMB does not grant any NRG bonus to a miner.
Existing Supply) 300M EMB
Circulating Supply) 100M EMB
Emblems were made available in a public sale that occurred in April 2018. Going forward, Emblem Leases is how miners can capture the utility function of Emblems, as there will not be any Emblems publicly sold by Block Collider.
Leased Emblems, marked as “L-EMB”, are a coin uniquely tied to an Emblem using the ERC721 standard. The L-EMB is an ownership a contract correlating 1 to 1 with an Emblem. L-EMBs are created when the original Emblem owner decides to convert their Emblem into a L-EMB. L-EMB can be traded to any party until they are executed which allows the lease owner to gain the mining rewards of the original Emblem. The Emblem Lease contract automatically handles the temporary transfer of ownership for the correlating EMB to the owner of the Leased Emblem for the pre-set duration of the lease. During that duration, lease owners take advantage of the mining utility and block expanding function of the Emblem.
L-EMBs exist for durations of 6, 12, and 24 months. After that time, the Emblem will be returned to its original owner.
Emblem Leases can be bought and sold on Borderless or any decentralized exchange that uses Block Collider or a Super Collider.
Yes. They can be transferred to a different address without needing to buy or sell it as it is a ERC721 token and on the Ethereum network. A brief search for “how to transfer ERC721 tokens” will provide more guided answer.
No. You can execute any number of Emblem Leases that you own at any time within their set duration.
Updated a day ago