Overview

NIX Bridge Outline

In August, 2020, The NIX Platform announced intentions to build a bridge between Ethereum and NIX in cooperation with The Blockchain Foundry in order to bring zero knowledge proof interoperability within and across entire blockchains and assets.

The bridge will consist of 2 tokens, NBT and NGT.

NBT, the NIX Bridge Token, is the primary foundation for the Decentralized Autonomous Organization (DAO) and will help to provide the funding required to develop the bridge. This DAO will include the elaboration of utility tools, web wallet, DEX development, marketing campaigns and liquidity allocation.

Though Ethereum will be the first to be bridged, development is being done in a modular way so as to allow any tokenized platform to be easily added in the future. Furthermore, the ultimate goal is to provide a full zero-knowledge proof based DEX directly on NIX similar to Uniswap.

A simple comparison for this would be to think of NIX being ETH (used for gas) and NBT as UNI.

" I will try to outline it in one master message below:

ETH chain <---- Agents -----> NIX chain

Agents communicate information back and forth between two chains. They run Agent software, geth light client, and nix core. They will pay gas fees to write info on the eth chain, hence the need for the agent eth pool that is open to contributions. Becoming a part of this pool will opt you into the pooled rewards (on boarding fees and nbt deflation fees)

To move a token from ETH to NIX, you will automatically pay a fee based on the fee dictated by the NBT DAO, it will be pegged to usd and an oracle service like LINK will be used. Agents will then write this information from ETH to NIX.

2 steps happen (example with $20 of dai, assume a $5 fee):

ETH token sent to locked contract ($15 of Dai) ----> Agents -----> mint token on NIX and send to owner

ETH token fee skimmed ($5 of Dai)-----> swapped on uniswap for nbt / nix (5$ of nbt / nix) ----> sent to reward pooling contract for agents & agent funders

Once in the NIX network with your token, moving it will incur a flat rate privacy fee that gets pooled and distributed to all active ghostnodes daily (or weekly).

There really are 2 avenues for profit sharing here: Become a part of the agent pool by funding or running, or run a ghostnode to participate in privacy fees. Depending on the setup, bridge onboarding can benefit buy pressure for nbt/nix via onboarding fees. Additionally, I would say that naturally, a user needs to own nix (similar to eth) to participate in the nix privacy token network as they need to pay for gas fees.

This is all separate from staking for either token/coin. You can still 'earn' by just being a part of the networks in a different way.

NBT staking works with a deflationary method using trading fees to sustain and requires proof of liquidity, while NIX works on an inflationary method with no need for proof of liquidity (more coins minted for ghostnodes and stakers, requires just nix to be locked)"

  • Jackieboy, lead developer

Further info: NIX Bridge Outline v1