Nodle Cash (NODL) is the native token of the Nodle Network Project. It is a governance and utility coin given to the Nodle Network users by the Nodle System Chain. The Nodle network aims to achieve two goals:
- To create an economic and technical layer that enables smartphones to be rewarded for performing work. This means leveraging the existing infrastructure of smartphones to execute applications, such as a decentralized edge computing platform, or a crowdsourced sensing network, or rewarding users to perform tasks without a middleman.
- To become a force of democratization for the crypto space, i.e. distributing a crypto token to a large number of participants.
What is NODL?
NODL stands for quantification of the utility provided by edge nodes to system participants. In the first phase of the project, the main utility is shared through the network of connected smart devices. As such, NODL can be seen as first as a quantification of the value of the bandwidth, and the value of renting the computing, storage, and Bluetooth capability of the smartphone.
The NODL is Polkadot’s 11th Parachain powering the Nodle Network. It is used to settle network incentives and contracts in the form of Nodle Cash ($NODL), as well as run some upcoming decentralized applications building atop the Network. It is built with the Parity Substrate framework and is available upon an open source license.
Nodle Token. Tokenomics and NODL Price.
The token of the Nodle Chain is Nodle Cash, and its symbol is NODL. Nolde Token is now listed on some major CEX (centralized crypto exchanges), here you can track NODL price easily. Now, let’s go through the economics of the NODL token, its function in the Nodle Network and the supply and demand dynamics. Twenty-one billion is the total supply of NODL tokens. Upon migration of Nodle Cash to its native blockchain:
- 60% will remain unminted
- 24% is in a treasury under the control of the Nodle Council of token holders. This treasure model aims to stimulate the growth of the Nodle ecosystem.
The rest of the tokens constituting the max supply will be minted according to the predictable mechanisms. In the mid-term, i.e. before the end of 2024, it is expected that the NODL token will take two new roles: governance and staking.
The price of 12.6 billion remaining NODL tokens depends on the periodical issue of reward edge nodes (smartphones running the SDK), network operators (agents operating the network and the oracles ensuring edge nodes behave properly), and collators for their participation in the network. The issuance follows a predictable S-curve.