NRG Token FAQ
What is NRG Token on Ethereum Chain?
NRG Token on Ethereum is an ERC-20 token representing NRG on the Ethereum blockchain in a 1:1 tokenization.
NRG Token is managed via a smart contract and will be backed by an initial minting of 1M NRG Token. We predict that this, coupled with user-provided liquidity, will meet initial demand. In the case that more liquidity is needed, we will repeat the process.
Why did Energi launch NRG Token?
The Energi Token on Ethereum (NRG) is a way for NRG to be used within financial applications built on Ethereum, opening a bridge from one ecosystem to the other.
This two-way street benefits both Energi and Ethereum users because users are able to transact and invest within the many decentralized financial applications (dApps) built on ETH without making transactions on multiple blockchains. Additionally, NRG Token users will be able to provide liquidity in pools on platforms like Uniswap and earn part of the trading fees for doing so.
How can I buy NRG Token?
NRG is available on Uniswap and Sushi Swap.
You can swap Ethereum or any ERC-20 token for NRG on the Ethereum blockchain.
Do I need to have 5000 confirmations before I can trade or sell NRG Token?
Users are able to send NRG from Energi Blockchain to Ethereum Blockchain for NRG Token. There is a 5000 transaction confirmation applied before the NRG Token will appear on the Ethereum Blockchain. This is to ensure security when tokens leave the Energi ecosystem.
Is MetaMask the only wallet option for NRG Token?
Initially we will be able to offer technical support to MetaMask users, however, you should be able to use any web3 wallet that works with Uniswap and Sushi Swap.
What fees will be involved in trading NRG Token?
NRG Token is just like any other ERC-20 token on the Ethereum blockchain, meaning that you will need ETH or Gwei to pay the gas fee for any transaction (buy, sell, withdraw).
You will always need to ensure that you have sufficient ETH in your wallet to cover current and future transaction fees.
Will NRG Token holders be able to generate liquidity rewards in the same style as Uniswap or AMPL?
Initially, the only rewards available will be the pool fees. Liquidity rewards may be implemented at a later stage.
Do you keep earning trading fees when you stake LP tokens?
Yes.
You will earn both the trading fees for providing liquidity in the pool and interest for staking in the farm.
Is it true that the more gas you pay, the faster the transaction?
The short answer is, yes.
While it is true that the more gas you pay, the sooner your transaction ends up in a block, additional gas does not actually guarantee a faster transaction. For example, times of high congestion can cause your "high gas" transaction to be pushed back due to others with even higher gas.
A block takes as long as it takes to create. Adding more gas doesn't actually speed up the block time, just your position in the queue to be added to it.
I staked my Liquidity Pool (LP) tokens and now they're gone! What happened?
When you farm your LP tokens, the tokens are temporarily moved to a staking contract. Your liquidity to the pool is still there. Once you unstake from the farm, they will show up as liquidity in the pool.
How will NRG Token be converted to NRG?
NRG Token can be bridged from the Ethereum blockchain over to the Energi blockchain using the Energi Bridge.
When NRG Token is exchanged for NRG, what happens to the NRG Token?
The NRG Tokens exchanged or briged to NRG are burnt. This ensures the same amount of NRG is in circulation.
What can NRG Token be used for in Uniswap?
There are no restrictions on what users can do once they purchase NRG Token on Uniswap. They can use NRG Token to swap for any tokens on Uniswap, contribute to the liquidity pool to earn interest via fees, or they can hold it.
NRG Token will also be usable on any Ethereum-based dApp as long as the developer lists it.
Can NRG Token be staked or used as Masternode collateral?
NRG Token cannot be staked or used as collateral on the Ethereum blockchain.
It must first be exchanged for NRG on the Energi blockchain before it can be staked or used as Masternode collateral.
Do you think we may end up with fewer Masternodes and Staking nodes if liquidity returns are higher?
This is always a possibility. However, over time we expect they will balance out.
Was the smart-contract for NRG Token audited?
A third-party audit has not been performed. This may be done in the future. However, the smart contract code is publicly available in our Github repository.