Topic: [NENG]Nengcoin - Litecoin on Steroids - Scrypt for All Miners - page 8. (Read 46813 times)
September 20, 2021, 05:11:03 PM
NENG Trading Resumed
Subreddit Icon
r/nengcoin
•Posted byu/Sokka2015
25 minutes ago
Trading
Hello Fellow Nengsters!!
Trading on ShorelineCrypto exchange has been resumed!
September 18, 2021, 10:06:32 PM
Community Announcement on Double Spent 51% attack and Solution
Announced by NENG commissioner RedRaider10 (discord ID) on community decision today
RedRaider10 | [🥉] — Today at 10:37 PM
@NENGsters
PSA!!
Hello Fellow Nengsters!
This week, Nengcoin suffered its first successful 51% attack. This is the reason why shortly thereafter, trading on both SouthXchange and Shoreline Crypto Exchange was halted.
4.25 billion Nengcoin was double spent and sold on SouthXchange by the attacker.
There were several options available to rectify the issue and in the end, it was decided to keep the current chain and take the loss. This was decided as the best option in regards to the integrity and honor of the project and our community. Either reversing the chain, inflating the cap of the coin by over 4%, or simply walking away from our obligations to an exchange that has been honorable and helpful on their end is not in keeping with the philosophy of this project.
This means that all blocks mined by our miners are and will remain valid. All transactions on both exchanges will remain valid as well.
Shoreline Crypto will resume trading shortly. SouthXchange will resume trading (and honor withdrawals in process) once the 4.25 billion coins that was double spent are reimbursed.
Over 2 billion of this reimbursement has already been provided by leaders of the community out of their personal holdings.
We are not doing a formal fundraising for the remainder of the loss, but if you would like to contribute towards us overcoming this challenge more quickly, you are welcome to send to addresses provided at the end of this announcement.
In regards to the security of the blockchain:
The reason this occurred is because the spike block trigger (known as the Cheetah Effect), was at a high setting allowing ASIC miners to put more power towards the blockchain without hitting a spike block. This "trust" was used to double spend.
When 51% event is attempted by ASIC miner, our CPU mining fleet is designed to work to insure the security of the blockchain from takeover from such ASIC attacker as soon as the ASIC miner mined a spike block.
A hardfork will be forthcoming to lower the threshold for triggering the spike block to ensure security. A side effect will be that ASIC miners will begin hitting spike blocks more frequently and be limited.
Dev will begin working on engineering a way to make the Cheetah Effect difficulty be an automatic process to allow the concurrent goals of security and maximum hashrate growth be as efficient as possible.
An analysis document of the security breach, immediate security solution, and long-term development of more dynamic security protocols will be forthcoming on Github for a more detailed understanding.
The success and reflected increase in value of each Nengcoin made the attack become attractive, and was a hard lesson to be learned. This lesson has been taken to heart and will not be repeated.
Please look forward to version 1.9.x of the Nengcoin wallet to download and update.
Donation Wallet:
NENG: NWSfowB8i1s78zUw8Umse1hHZF4Xovb7kr
Announced by NENG commissioner RedRaider10 (discord ID) on community decision today
RedRaider10 | [🥉] — Today at 10:37 PM
@NENGsters
PSA!!
Hello Fellow Nengsters!
This week, Nengcoin suffered its first successful 51% attack. This is the reason why shortly thereafter, trading on both SouthXchange and Shoreline Crypto Exchange was halted.
4.25 billion Nengcoin was double spent and sold on SouthXchange by the attacker.
There were several options available to rectify the issue and in the end, it was decided to keep the current chain and take the loss. This was decided as the best option in regards to the integrity and honor of the project and our community. Either reversing the chain, inflating the cap of the coin by over 4%, or simply walking away from our obligations to an exchange that has been honorable and helpful on their end is not in keeping with the philosophy of this project.
This means that all blocks mined by our miners are and will remain valid. All transactions on both exchanges will remain valid as well.
Shoreline Crypto will resume trading shortly. SouthXchange will resume trading (and honor withdrawals in process) once the 4.25 billion coins that was double spent are reimbursed.
Over 2 billion of this reimbursement has already been provided by leaders of the community out of their personal holdings.
We are not doing a formal fundraising for the remainder of the loss, but if you would like to contribute towards us overcoming this challenge more quickly, you are welcome to send to addresses provided at the end of this announcement.
In regards to the security of the blockchain:
The reason this occurred is because the spike block trigger (known as the Cheetah Effect), was at a high setting allowing ASIC miners to put more power towards the blockchain without hitting a spike block. This "trust" was used to double spend.
When 51% event is attempted by ASIC miner, our CPU mining fleet is designed to work to insure the security of the blockchain from takeover from such ASIC attacker as soon as the ASIC miner mined a spike block.
A hardfork will be forthcoming to lower the threshold for triggering the spike block to ensure security. A side effect will be that ASIC miners will begin hitting spike blocks more frequently and be limited.
Dev will begin working on engineering a way to make the Cheetah Effect difficulty be an automatic process to allow the concurrent goals of security and maximum hashrate growth be as efficient as possible.
An analysis document of the security breach, immediate security solution, and long-term development of more dynamic security protocols will be forthcoming on Github for a more detailed understanding.
The success and reflected increase in value of each Nengcoin made the attack become attractive, and was a hard lesson to be learned. This lesson has been taken to heart and will not be repeated.
Please look forward to version 1.9.x of the Nengcoin wallet to download and update.
Donation Wallet:
NENG: NWSfowB8i1s78zUw8Umse1hHZF4Xovb7kr
September 08, 2021, 08:44:33 PM
NENG 3 Year Ann. 2Y Performance Parity with DOGE
Sep 8, 2021
Hong Lu - Creator and Dev of Nengcoin
Fellow Nengsters!
Today is 3 year anniversary of launch of Nengcoin. 3 year ago on this day, I released NewEnglandcoin (old Nengcoin name) github source code publicly. We achieved tremendous success over past 3 years thanks to all your Nengsters' support!
Performance Parity with DOGE
On today's trading price, NENG also achieved performance parity with dogecoin over past 2 calendar years!
On Jan 4, 2020, I posted in bitcointalk ann article commenting on shorelinecrypto fee policy:
https://bitcointalksearch.org/topic/m.53521502
There I mentioned that on that day, 1 doge could be converted to 73926 NENG at shorelinecrypto roughtly at 0.00001350 NENG/DOGE trading price. Today we can do the same conversion at southxchange at same price.
Doge USD price performance since Jan 4, 2020: 10,569.32%
Neng USD price performance since Jan 4, 2020: 10,569.32%
Both DOGE and NENG achieved 105x on USD price over past 1 year and 8 months. In fact, NENG USD price performance in 2020 beat DOGE after releasing mobile mining feature in summer of 2020. Then in early 2021, DOGE performance beat NENG a lot after Elon tweets. After sharp bitcoin sell off after April, NENG price rallied back hard and achieved parity performance with DOGE today!
Early NENG Performance and Anecdote
In early years of NENG years ago, NENG could have been mined very cheaply at large quantity. Before Nov 2018, NENG was mined mostly by ASIC miners on hundreds to billions of NENG supply. After CPU mining feature enabled on Nov 28, 2018, CPU miners and USB ASIC miners entered conversation. There was story in NENG discord by Krypton, who donated majority of logo bounty that he mined 500 million NENG within 1 hour of reset using a powerful PC in combination with an ASIC. Today, to mine 500 million NENG, miner would need a very powerful ASIC device on high electricity bill, or long long mining period on USB ASIC or android phones.
There were also many sharp sell off in early years so that investors who bought at very cheap price and hodling still today made big profit on NENG at cheap cost. I myself mainly an investor who bought large quantity of NENG at exchange with DOGE because my mining device (CPU, USB ASIC or android) are weak on hashrate. I along with others benefited hugely on this super performance of NENG.
Bright Future Expections
NENG started with ASIC mining, then CPU mining and then mobile mining. At 105x today, NENG is still cheap compared to Dogecoin or Electroneum
Market Cap on USD
Dogecoin (DOGE) - $ 33,180,000,000
Electroneum (ETN) - $ 236,720,000
Nengcoin (NENG) - $ 190,909
If NENG catch up with Electroneum market cap, NENG price would rise 1240x from here. If NENG catch up with dogecoin market cap, NENG price would rise 173800x! Nengcoin price today is still very cheap and has huge potential upward.
Bright future ahead for Nengcoin!
Sep 8, 2021
Hong Lu - Creator and Dev of Nengcoin
Fellow Nengsters!
Today is 3 year anniversary of launch of Nengcoin. 3 year ago on this day, I released NewEnglandcoin (old Nengcoin name) github source code publicly. We achieved tremendous success over past 3 years thanks to all your Nengsters' support!
Performance Parity with DOGE
On today's trading price, NENG also achieved performance parity with dogecoin over past 2 calendar years!
On Jan 4, 2020, I posted in bitcointalk ann article commenting on shorelinecrypto fee policy:
https://bitcointalksearch.org/topic/m.53521502
There I mentioned that on that day, 1 doge could be converted to 73926 NENG at shorelinecrypto roughtly at 0.00001350 NENG/DOGE trading price. Today we can do the same conversion at southxchange at same price.
- Jan 4, 2020 - 1 DOGE = 73926 NENG
- Sep 8, 2021 - 1 DOGE = 73926 NENG
Doge USD price performance since Jan 4, 2020: 10,569.32%
Neng USD price performance since Jan 4, 2020: 10,569.32%
Both DOGE and NENG achieved 105x on USD price over past 1 year and 8 months. In fact, NENG USD price performance in 2020 beat DOGE after releasing mobile mining feature in summer of 2020. Then in early 2021, DOGE performance beat NENG a lot after Elon tweets. After sharp bitcoin sell off after April, NENG price rallied back hard and achieved parity performance with DOGE today!
Early NENG Performance and Anecdote
In early years of NENG years ago, NENG could have been mined very cheaply at large quantity. Before Nov 2018, NENG was mined mostly by ASIC miners on hundreds to billions of NENG supply. After CPU mining feature enabled on Nov 28, 2018, CPU miners and USB ASIC miners entered conversation. There was story in NENG discord by Krypton, who donated majority of logo bounty that he mined 500 million NENG within 1 hour of reset using a powerful PC in combination with an ASIC. Today, to mine 500 million NENG, miner would need a very powerful ASIC device on high electricity bill, or long long mining period on USB ASIC or android phones.
There were also many sharp sell off in early years so that investors who bought at very cheap price and hodling still today made big profit on NENG at cheap cost. I myself mainly an investor who bought large quantity of NENG at exchange with DOGE because my mining device (CPU, USB ASIC or android) are weak on hashrate. I along with others benefited hugely on this super performance of NENG.
Bright Future Expections
NENG started with ASIC mining, then CPU mining and then mobile mining. At 105x today, NENG is still cheap compared to Dogecoin or Electroneum
Market Cap on USD
Dogecoin (DOGE) - $ 33,180,000,000
Electroneum (ETN) - $ 236,720,000
Nengcoin (NENG) - $ 190,909
If NENG catch up with Electroneum market cap, NENG price would rise 1240x from here. If NENG catch up with dogecoin market cap, NENG price would rise 173800x! Nengcoin price today is still very cheap and has huge potential upward.
Bright future ahead for Nengcoin!
September 08, 2021, 10:41:51 AM
Nengcoin is listed and tracked at CoinRanking
CoinRanking is another popular USD price chart and quote site.
Nengcoin is listed and tracked at CoinRanking:
https://coinranking.com/coin/1N4H6xVjZ%2Bnengcoin-neng
CoinRanking is another popular USD price chart and quote site.
Nengcoin is listed and tracked at CoinRanking:
https://coinranking.com/coin/1N4H6xVjZ%2Bnengcoin-neng
September 07, 2021, 07:40:04 PM
Nengcoin Mining Video Bounty
Announced in Nengcoin discord annoucement channel by community leaders:
Reddit same announcement:
https://www.reddit.com/r/nengcoin/comments/pjmzb3/nengcoin_mining_bounty_is_open/
Announced in Nengcoin discord annoucement channel by community leaders:
Quote
RedRaider10 | [🥉] — Today at 8:05 PM
Hello @NENGsters,
The community ambassadors has a new bounty starting now! The reason for this bounty is that our latest videos on how to mine NENG is quite not as up to date with 2021. So producing these videos would help the community and newcomers with a visual guide on how to mine Nengcoin. On top of that, there are juicy bounty rewards in the form of Nengcoin and Cheetahcoin.
Here are the Bounties and Rewards:
- Windows Mining tutorial video Reward: 4 million NENG
- Mining tutorial video on Android Reward: 6 million NENG
- Linux mining tutorial video Reward: 5 million NENG
- MacOS mining tutorial video Reward: 5 million NENG
- Dual mining on Android tutorial video Reward: 6 million NENG + 2 million CHTA
- Mining pool NENG tutorial video Reward: 4 million NENG
To receive your rewards:
1. Publish your bounty content on YouTube.
2. Link it in the bounty-submission-only channel.
3. Post your Nengcoin wallet address and if required, post your Cheetahcoin wallet address if you completed a bounty with CHTA rewards in the bounty-submission-only channel.
I'll be sending your rewards.
You can check it out on the bounty-board!
Thanks and stay safe,
-@KhomradeKat | [🥇🥈🥉] | [:first_place::second_place::third_place:] | []
Hello @NENGsters,
The community ambassadors has a new bounty starting now! The reason for this bounty is that our latest videos on how to mine NENG is quite not as up to date with 2021. So producing these videos would help the community and newcomers with a visual guide on how to mine Nengcoin. On top of that, there are juicy bounty rewards in the form of Nengcoin and Cheetahcoin.
Here are the Bounties and Rewards:
- Windows Mining tutorial video Reward: 4 million NENG
- Mining tutorial video on Android Reward: 6 million NENG
- Linux mining tutorial video Reward: 5 million NENG
- MacOS mining tutorial video Reward: 5 million NENG
- Dual mining on Android tutorial video Reward: 6 million NENG + 2 million CHTA
- Mining pool NENG tutorial video Reward: 4 million NENG
To receive your rewards:
1. Publish your bounty content on YouTube.
2. Link it in the bounty-submission-only channel.
3. Post your Nengcoin wallet address and if required, post your Cheetahcoin wallet address if you completed a bounty with CHTA rewards in the bounty-submission-only channel.
I'll be sending your rewards.
You can check it out on the bounty-board!
Thanks and stay safe,
-@KhomradeKat | [🥇🥈🥉] | [:first_place::second_place::third_place:] | []
Reddit same announcement:
https://www.reddit.com/r/nengcoin/comments/pjmzb3/nengcoin_mining_bounty_is_open/
September 03, 2021, 03:13:39 PM
Nengcoin uses a proof-of-work algorithm with enhanced features to protect against 51% attack. What are those enhanced features?
This is very good question, this is mainly for Nengcoin (NENG), not for Wrapped Nengcoin (WNENG). The short answer is the new CPU and Mobile mining technology that never existed before Nengcoin offers this new 51% protection. The 51% protection enhanced feature mainly come from CPU miners on PC/Mac/Chromebook or mobile CPU miners on android phone.
Please be aware that Nengcoin is a clone of litecoin, but litecoin is mainly a ASIC mining coin. Nengcoin is a scrypt coin, mostly mined by ASIC miners, but controled by CPU miners on PC/phones. Put this way, if 100% of CPU miners on NENG protest and strike for a day with no CPU mining (this is not very likely case, just hypothetical case), NENG blockchain most likely will be frozen, shut down, no matter how many ASIC try and mine with tons of hash rate throwing at NENG, it will most likely be shut down. That is why this coin is CPU/mobile mining centered coin even though majority of mining profit goes to ASICs on scrypt.
For details of this works on tech level, checkout the v1.5.x branch upgrade pdf report above. That report can be served as technical white paper for Nengcoin.
Here is link:
NENG core v1.5.x Hardfork Proposal, Soft Name Change
https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/proposal_v1.5/NENG_v1.5.x_Hardfork_Proposal.pdf
September 03, 2021, 12:46:18 AM
NENG/CHTA is listed and tracked at coincheckup
CoinCheckup is really good, feel like coin market cap layout. This feels like better than coincodex for me. All the market cap are tracked correctly for NENG and CHTA
Nengcoin: https://coincheckup.com/coins/nengcoin
Cheetahcoin: https://coincheckup.com/coins/cheetahcoin
CoinCheckup is really good, feel like coin market cap layout. This feels like better than coincodex for me. All the market cap are tracked correctly for NENG and CHTA
Nengcoin: https://coincheckup.com/coins/nengcoin
Cheetahcoin: https://coincheckup.com/coins/cheetahcoin
September 01, 2021, 01:53:34 PM
Price Quote/Chart at Nomics Listed and Tracked
Nomics is another popular quote/chart site. Both NENG and WNENG are listed:
NENG
https://nomics.com/assets/neng-nengcoin
WNENG
https://nomics.com/assets/wneng-wrappednengcoin
Nomics is another popular quote/chart site. Both NENG and WNENG are listed:
NENG
https://nomics.com/assets/neng-nengcoin
WNENG
https://nomics.com/assets/wneng-wrappednengcoin
Mobile Mining 1 Year Anniv - NENG Beat ETN by 25x
Nengcoin (NENG) roughly started android phone mining revolution in summer of 2020, roughly 1 year ago. On July 11, 2020 I wrote a report on the coming android phone feature upgrade for the NENG coin on v1.4.x branch:
https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/NENG_2020_Q3_report/NENG_2020_Q3_report.pdf
In this above v1.4.x report, I compared Electroneum (ETN) fake mobile mining vs Nengcoin (NENG) real mobile mining on features and tech level, what interesting was that I also put out market cap of NENG using shorelinecrypto doge pair trading price then verses ETN, $2.55K USD verses $58 million USD market cap. 1 year later, using LiveCoinWatch where both NENG and ETN are listed, NENG market cap rose roughly 100x to $246k USD while ETN market cap rose 4x to $243 million USD.
Market cap on USD is highly correlated to price change. To be fair ETN rising 4 times in one year is not that a shabby number. But NENG is significantly better, beating ETN performance hands down. Just on market cap number, investors hodling NENG would beat ETN by 25 times in one year time frame!
What is more important, Electroneum trades at 243 million USD market cap today, while Nengcoin trades today at 246k USD market cap today. Nengcoin (NENG) real phone mining is significantly a better coin than Electroneum (ETN) fake mobile mining on tech or valuation level. There is no reason that ETN should trade at higher valuation level than Nengcoin considering other important factors such as decentralization all in favor of Nengcoin. We still have 1000x more to catch up!
Nengcoin (NENG) roughly started android phone mining revolution in summer of 2020, roughly 1 year ago. On July 11, 2020 I wrote a report on the coming android phone feature upgrade for the NENG coin on v1.4.x branch:
https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/NENG_2020_Q3_report/NENG_2020_Q3_report.pdf
In this above v1.4.x report, I compared Electroneum (ETN) fake mobile mining vs Nengcoin (NENG) real mobile mining on features and tech level, what interesting was that I also put out market cap of NENG using shorelinecrypto doge pair trading price then verses ETN, $2.55K USD verses $58 million USD market cap. 1 year later, using LiveCoinWatch where both NENG and ETN are listed, NENG market cap rose roughly 100x to $246k USD while ETN market cap rose 4x to $243 million USD.
Market cap on USD is highly correlated to price change. To be fair ETN rising 4 times in one year is not that a shabby number. But NENG is significantly better, beating ETN performance hands down. Just on market cap number, investors hodling NENG would beat ETN by 25 times in one year time frame!
What is more important, Electroneum trades at 243 million USD market cap today, while Nengcoin trades today at 246k USD market cap today. Nengcoin (NENG) real phone mining is significantly a better coin than Electroneum (ETN) fake mobile mining on tech or valuation level. There is no reason that ETN should trade at higher valuation level than Nengcoin considering other important factors such as decentralization all in favor of Nengcoin. We still have 1000x more to catch up!
Both NENG and WNENG are Listed at Coinpaprika
NENG and WNENG both are listed and tracked at Coinparika. Here is web URL:
https://coinpaprika.com/coin/neng-nengcoin/
https://coinpaprika.com/coin/wneng-wrapped-nengcoin/
Coinpaprika has mobile app too at google store ( I think apple store too), the name is "COINS" in google app. Confirm here that I can track NENG and WNENG in COINS app in my android phone.
Just noticed that Coinpaprika track WNENG at pancakeswap too. So for WNENG, both trading price at southXchange and pancakeswap are tracked.
NENG and WNENG both are listed and tracked at Coinparika. Here is web URL:
https://coinpaprika.com/coin/neng-nengcoin/
https://coinpaprika.com/coin/wneng-wrapped-nengcoin/
Coinpaprika has mobile app too at google store ( I think apple store too), the name is "COINS" in google app. Confirm here that I can track NENG and WNENG in COINS app in my android phone.
Just noticed that Coinpaprika track WNENG at pancakeswap too. So for WNENG, both trading price at southXchange and pancakeswap are tracked.
shoreline_lt_chart: NENG/DOGE Three Year Candlestick Chart released
Historical three year candlestick price chart of NENG/DOGE trading in ShorelineCrypto exchange was released at:
https://github.com/ShorelineCrypto/shoreline_lt_chart
3 log scale candlestick charts and 3 google charts in pdf files can be viewed directly in browser in above github link. You can also download the software release which includes the raw data source
and 6 pdf files.
If you are comfortable to play with R programming language, you can customize to any plots using the raw data source and the provided NENG example R codes.
What is shoreline_lt_chart?
This is sets of method and R scripts to plot any cryptocurrency cancelstick price chart over long period of time (3Y chart for NENG). Here we mainly showcase two methods of plotting Nengcoin (NENG) NENG/DOGE price since Sept. 2018 using raw data from ShorelineCrypto exchange history database records.
Historical three year candlestick price chart of NENG/DOGE trading in ShorelineCrypto exchange was released at:
https://github.com/ShorelineCrypto/shoreline_lt_chart
3 log scale candlestick charts and 3 google charts in pdf files can be viewed directly in browser in above github link. You can also download the software release which includes the raw data source
and 6 pdf files.
If you are comfortable to play with R programming language, you can customize to any plots using the raw data source and the provided NENG example R codes.
What is shoreline_lt_chart?
This is sets of method and R scripts to plot any cryptocurrency cancelstick price chart over long period of time (3Y chart for NENG). Here we mainly showcase two methods of plotting Nengcoin (NENG) NENG/DOGE price since Sept. 2018 using raw data from ShorelineCrypto exchange history database records.
- Download raw data from exchange back-end server
- R plotting for candlestick in windows/macOS/linux
- Candlestick log scale chart vs Google Linear chart
NENG or WNENG faucets is running at:
https://main.southxchange.com/Balance/Faucet
go and grab some small number of coins for free there.
https://main.southxchange.com/Balance/Faucet
go and grab some small number of coins for free there.
WNENG/BNB Price Chart and Quote at Pancakeswap
This web site below chart the WNENG/BNB price chart, it's USD based price is quite accurate in my belief on the pancakeswap for the pair: https://poocoin.app/tokens/0xad2c0b5ee5424c6b6f9c06e4fef3fd7cd9ff0264
This web site below chart the WNENG/BNB price chart, it's USD based price is quite accurate in my belief on the pancakeswap for the pair: https://poocoin.app/tokens/0xad2c0b5ee5424c6b6f9c06e4fef3fd7cd9ff0264
NENG Blockchain Reset, boom for USB/GPU solo miners
NENG blockchain just reset to a low difficulty number hour ago. another boom for solo USB/GPU miners
NENG blockchain just reset to a low difficulty number hour ago. another boom for solo USB/GPU miners
WNENG/NENG Swapping at SouthXchange - Proof of Reserve
WrappedNengcoin (WNENG) Proof of Reserve
WNENG/NENG can be swapped with each other at SouthXchange with SouthXchange as custodian.
Math at SouthXchange custodian wallet on 1:1 backing
Total WNENG issued: 740 million WNENG.
Pre-launch WNENG used for pancakeswap liquidity pool: 55.763473 million WNENG
Extra NENG deposit into custodian wallet for the pre-launch usage: 55.763473 million NENG
Pre-launch WNENG used for southXchange testing purpose: 10,000 WNENG
Custodian Wallet Total balance at launch:
684.226527 million WNENG
795.763473 million NENG
Initial launch proof of reserve on 1:1 peg screen shot.
https://www.reddit.com/r/nengcoin/comments/ozz65d/wnengneng_swapping_at_southxchange_proof_of/
WrappedNengcoin (WNENG) Launched - WNENG/NENG Swapping at southXchange
WrappedNengcoin (WNENG) is Binance Smart Chain (BSC) token (BEP20 token) with 1:1 pegged with Nengcoin (NENG) at SouthXchange for swapping.
With release of WNENG on BSC, a lot of defi and yield earning opportunities open up for fans of Nengcoin communities.
BSC Token Contract
BSC contract address: 0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264
In metamask, Add Token with this contract address, the token holdings you own should show up.
Github
WNENG contract source code is verified on BscScan. An exact copy is at:
https://github.com/ShorelineCrypto/WrappedNengcoin
Exchange
SouthXchange
https://main.southxchange.com/Market/Book/WNENG/NENG
Pancakeswap
https://pancakeswap.finance/
A liquidity pool of WNENG/BNB is setup, in general swapping of WNENG with BNB or any other supported token can be done in pancakeswap.
Yield Earning
A liquidity pool (LP) is setup already for earning yield on WNENG and for facilitating pancakeswap trading on WNENG/BNB pair.
Pancakeswap
https://pancakeswap.finance/
If you want to join liquidity for earning yield, you will need to add both BNB and WNENG together into the pancakeswap liquidity pool. To find WNENG in Pancakeswap and in Metamask, make sure copy and paste the contract address into either of them if necessary to find the LP and token.
Block Explorer
BSC scan
https://bscscan.com/address/0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264
WNENG/BNB PancakeSwap Price Chart
poocoin.app
https://poocoin.app/tokens/0xad2c0b5ee5424c6b6f9c06e4fef3fd7cd9ff0264
WrappedNengcoin (WNENG) is Binance Smart Chain (BSC) token (BEP20 token) with 1:1 pegged with Nengcoin (NENG) at SouthXchange for swapping.
With release of WNENG on BSC, a lot of defi and yield earning opportunities open up for fans of Nengcoin communities.
- Name: WrappedNengcoin
- Symbol: WNENG
- 1:1 backing with Nengcoin (NENG). Custodian is southXchange
- Total token supply: 740 million WNENG
- Maximum token supply: 740 million WNENG
BSC Token Contract
BSC contract address: 0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264
In metamask, Add Token with this contract address, the token holdings you own should show up.
Github
WNENG contract source code is verified on BscScan. An exact copy is at:
https://github.com/ShorelineCrypto/WrappedNengcoin
Exchange
SouthXchange
https://main.southxchange.com/Market/Book/WNENG/NENG
Pancakeswap
https://pancakeswap.finance/
A liquidity pool of WNENG/BNB is setup, in general swapping of WNENG with BNB or any other supported token can be done in pancakeswap.
Yield Earning
A liquidity pool (LP) is setup already for earning yield on WNENG and for facilitating pancakeswap trading on WNENG/BNB pair.
Pancakeswap
https://pancakeswap.finance/
If you want to join liquidity for earning yield, you will need to add both BNB and WNENG together into the pancakeswap liquidity pool. To find WNENG in Pancakeswap and in Metamask, make sure copy and paste the contract address into either of them if necessary to find the LP and token.
Block Explorer
BSC scan
https://bscscan.com/address/0xaD2c0B5ee5424C6b6f9C06E4fEF3FD7CD9FF0264
WNENG/BNB PancakeSwap Price Chart
poocoin.app
https://poocoin.app/tokens/0xad2c0b5ee5424c6b6f9c06e4fef3fd7cd9ff0264
WrappedNengcoin (WNENG) Launch Proposal
Lim Jun Yih, Hong Lu - Developer Team of WrappedNengcoin & WrappedCheetahcoin
* Proposal to Launch WrappedNengcoin (WNENG) at SouthXchange
* Why Do We Need this Wrapped Token?
* The reason we chose BSC over ETH for WNENG Launch
* Benefit of WNENG to NENG Eco-system
* Risk of WrappedNengcoin and Defi
* Disclosure of Process of Development of WrappedNengcoin
* Why is 740 million WNENG total Supply and Maximum Total Supply?
Full Text:
https://github.com/ShorelineCrypto/WrappedNengcoin/releases/download/WNENG_launch/WNENG_launch_proposal.pdf
Lim Jun Yih, Hong Lu - Developer Team of WrappedNengcoin & WrappedCheetahcoin
* Proposal to Launch WrappedNengcoin (WNENG) at SouthXchange
* Why Do We Need this Wrapped Token?
* The reason we chose BSC over ETH for WNENG Launch
* Benefit of WNENG to NENG Eco-system
* Risk of WrappedNengcoin and Defi
* Disclosure of Process of Development of WrappedNengcoin
* Why is 740 million WNENG total Supply and Maximum Total Supply?
Full Text:
https://github.com/ShorelineCrypto/WrappedNengcoin/releases/download/WNENG_launch/WNENG_launch_proposal.pdf
stay at shorelinecrypto exchange 
Come to discord and vote against the delisting from ShorelineCrypto. Just took look at current votes there, it is 50:50 for/against SLC delisting. Delisting from shorelinecrypto is real possibility if enough votes from community want that.
WNENG Supply Issue
More discussion in Discord "dev-chat" channel on the issue of coming Wrapped Nengcoin (WNENG) total supply and maximum supply cap issue
More discussion in Discord "dev-chat" channel on the issue of coming Wrapped Nengcoin (WNENG) total supply and maximum supply cap issue
Quote
will777 — Yesterday at 12:53 PM
I agree on the cap of the token, but unsure of the amount. I do agree what is minted should always be backed 1:1, but how is the total possible cap quantity ascertained?
honglu69 — Yesterday at 1:11 PM
I mainly look into WBTC, which has 1% (actually less than 1%)
https://coinmarketcap.com/currencies/wrapped-bitcoin/
WBTC can do 1% of BTC as its supply. WNENG can do 1% of NENG supply too at 500 million WNENG at cap. This falls into pre-mine balance so that we have already, no need to do anything. Just use pre-mine for 1:1 backing.
Premine current balance: 740 million NENG
We could use 740 million NENG to issue 740 million WNENG, capped at 741 million WNENG. no need to do donation. More than this, a donation is needed. We do not have more than this on public treasury fund.
I agree on the cap of the token, but unsure of the amount. I do agree what is minted should always be backed 1:1, but how is the total possible cap quantity ascertained?
honglu69 — Yesterday at 1:11 PM
I mainly look into WBTC, which has 1% (actually less than 1%)
https://coinmarketcap.com/currencies/wrapped-bitcoin/
WBTC can do 1% of BTC as its supply. WNENG can do 1% of NENG supply too at 500 million WNENG at cap. This falls into pre-mine balance so that we have already, no need to do anything. Just use pre-mine for 1:1 backing.
Premine current balance: 740 million NENG
We could use 740 million NENG to issue 740 million WNENG, capped at 741 million WNENG. no need to do donation. More than this, a donation is needed. We do not have more than this on public treasury fund.
i think you need more than 600 m WNENG
6B i think at least
6B i think at least
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