NGNT

NGNT is a collateral-backed stablecoin pegged 1:1 with the Naira. It is not legal tender. 📧 [email protected]

[NGNT @NGNToken]

NGNT now lives on the @binance Smart Chain.

It is now [also] backed by BUSD.

We’re excited to be a part of the @BinanceChain community.

More information can be found at https://t.co/s89VEUnKZT

[NomicsUpdates @NomicsUpdates]

Naira Token $NGNT is live on Nomics with a price of $0.00204215, and volume of $598.91 @NGNToken https://t.co/jVddODbU80

[NGNT @NGNToken]

We have moved our liquidity on @PancakeSwap from V1 to V2.

[NGNT @NGNToken]

@drbhiyi *be

[NGNT @NGNToken]

@drbhiyi We don’t think storing collateral as reserves for a stablecoin is a loss. The BUSD + USDC reserves can always been withdrawn by burning NGNT & reducing the total supply.

Also, NGNT in itself isn’t for profit.

Please explain what you think to be a loss?

[NGNT @NGNToken]

@drbhiyi So that we can continue to clarify.

[NGNT @NGNToken]

@drbhiyi From the same place we got the $300k+ collateral that’s in the reserves currently.

The members of the team are exchanges & other crypto stakeholders that are motivated to keep NGNT fully backed & working.

[NGNT @NGNToken]

@KenyaCoin @drbhiyi ASAP too.

[NGNT @NGNToken]

@KenyaCoin @drbhiyi Lastly, per the scenario you gave above. In the *extremely* unlikely event that the Naira gains enough on the dollar to render our reserves insufficient overnight, the team will simply just either:

- Add more funds to the reserves or
- Burn NGNT

[NGNT @NGNToken]

@s29vv You can find the ABI in the GitHub repository, the BEP20 branch: https://t.co/SObnlr4Kkg

[NGNT @NGNToken]

Can someone port https://t.co/8mldsttG5a to BSC?

Considering how much cheaper fees are, it makes a lot of sense to do that rn.

We’ll be giving a grant of 300,000 NGNT to whoever does.

[NGNT @NGNToken]

@1anre @buycoins_africa @binance Yes, that’s a path being taken. Still largely dependent on them tbh.

[NGNT @NGNToken]

@1anre @buycoins_africa That largely depends on @binance itself.

[NGNT @NGNToken]

@1anre A while ago, we announced that NGNT is now live on the Binance Smart Chain.

The announcement last week was about being able to send & receive NGNT via BSC on @buycoins_africa.

This has nothing to do with it being listed on the Binance exchange.

[NGNT @NGNToken]

@1anre Oh. The bounty thing is for https://t.co/8mldstLhtK, a dApp built on top of the ERC20 NGNT. We want someone to port this game/dApp to the Binance Smart Chain.

[NGNT @NGNToken]

@1anre Hey, I’m not sure I understand the question.

[BSCDaily @bsc_daily]

Give your warmest welcome to the newest friends in fam!

@BotOceanInc
@threefold_io
@SelfKey
@effectaix
@tapmydata (@PolyNetwork2 is 🔥 it seems)
@yield_protocol
@thedisbalancer
@NGNToken (on @buycoins_africa)
@WilderWorld
@Navcoin
@GeoDataBlock
@Stark_Chain
@VAIOT_LTD

#BSC

[NGNT @NGNToken]

@drbhiyi The token mint team (responsible for managing NGNT) will continue to mint and burn NGNT according to these principles - in the event that the Naira actually gains, we’ll just burn NGNT.

[NGNT @NGNToken]

@drbhiyi So for as long as that is true, we can confidently say that there’s always AT LEAST the right amount of redeemable USDC/BUSD in reserves for every NGNT in circulation.