Nordek Token (NRK)
Last updated
Last updated
The NRK coin is the native currency of the Nordek blockchain and platform, similar to how ETH functions on Ethereum.
Transaction fees: NRK is used to pay fees for approving transactions on the Nordek network.
Validation: Token holders can stake NRK to become validators. The minimum staking requirement is currently set at 100,000 NRK. Validators play a crucial role in securing the network and participating in governance. The network is growing, currently there are 60 validators. ()
Voting: Validators can vote on protocol changes using their staked NRK. The voting power is proportional to the amount of NRK they have staked, giving validators with higher stakes a greater influence on network upgrades and governance changes (until delegation is activated in phase)
Staking (for delegators): Any NRK holder can delegate their tokens to one or more validators of their choice. Delegators receive a share of the Nordek block rewards based on the proportion of their stake in the total stake, minus the minimum 15% fee paid to the validator(s).
Payments: NRK can be used as a medium of exchange on the Nordek platform for various transactions. Since NRK is the native currency, transfers of NRK do not require interactions with smart contracts, making them potentially faster and less costly in terms of transaction fees.
IMPORTANT: Please note that possessing NRK tokens alone does not grant holders rights to participate in Nordek's governance or revenue streams related to its real-world performance.
NRK is available for purchase on a number of centralized (CEX) and decentralized DEX exchanges.
Centralized exchanges: Gate.io, Huobi Global, MEXC Global, AscendEX, Bimart, Bittrex Global
DEXes: Uniswap V2 and V3 (Ethereum), PancakeSwap (Binance Smart Chain), Quickswap (Polygon), Voltage DEX (Nordek), Sushiswap (Nordek), 1inch (Ethereum), KyberSwap (Ethereum), Loopring (Ethereum).
The best information about the NRK trading volumes and prices on various exchanges can be found on the Coingecko "Markets" for the token.
A convenient current way of purchasing NRK straight from one's bank account is through using the wallet to deposit Nordek Dollars, and then swapping those to NRK via the in-app integration with Voltage DEX.
At the moment, the NRK token is sometimes used by the project team to power liquidity rewards (yield farming) programs to boost liquidity on DEXes and the participation in the .
The Nordek team also uses NRK for community rewards, grants, and bounties. Staying up-to-date with Nordek's and announcements is the best way to learn about these opportunities.
The NRK token is also used to power Nordek grants and bounties. Please consult the section for more details.