Hubii IconThe nahmii Airdriip FAQ

Introduction to the FAQ

 

This document is designed to answer many of the most common questions about the nahmii airdrop, which will run for 120 months from November 2018 to November 2028.

 

Please consider this FAQ to be an ongoing work in progress, as we will be adding more responses from the team over time.

 

What is nahmii?

 

nahmii is a second layer (or layer-2) scaling solution for the Ethereum blockchain. By moving transactions on to the second layer, nahmii provides a cheaper, faster alternative to making transactions on the Ethereum base layer.

 

nahmii, named after the Thai word for water (‘nahm’), provides a minimum throughput of 15 transactions per user address per second. Unlike Ethereum’s variable fees, transaction fees within nahmii are known in advance and are normally much lower. Similarly, transactions within nahmii are subject to almost no latency and are confirmed near-instantaneously.

 

nahmii was developed by hubii in 2018 and deployed to the public Ethereum network in Q4 of that year. nahmii was not part of the original hubii ICO project in 2017. Rather, nahmii was developed in response to an urgent market need for a commercially viable Ethereum scaling solution. This need was unlikely to be met by other ‘layer-2’ projects in development at the time, hence hubii’s plan to build their own platform. Despite starting much later than their competitors, hubii were first to deploy a scaling solution to the public mainnet.

 

nahmii was initially developed under the name ‘striim’, which changed to nahmii on 18th September 2018. More information on this change can be found here.

 

 

What are nahmii tokens, NII?

 

The nahmii protocol is tokenised, with token holders receiving all of the revenue from the protocol, however there will be no token sale. Instead, the nahmii tokens – NII – will be distributed through a series of monthly airdrops over a 10 year period. These airdrops are known as airdriips to match the naming convention of hubii, nahmii and transactions within nahmii which are known as driips.

 

NII tokens play an important role in the security of the nahmii protocol, explained in more detail here. There will a total of 120 billion NII tokens, with 1 billion tokens distributed each month during the airdriip.

 

 

What is an airdrop? What is an airdriip?

 

In the world of cryptocurrencies, airdrops are a way of distributing tokens to qualifying addresses. The nahmii airdrop will be called an airdriip to match the two ‘ii’s in name of the protocol, hubii and driips – the name for transactions within nahmii.

 

 

Who is eligible for the airdriip?

 

All HBT token holders are eligible for the airdriip, provided they hold their tokens in an address that they control (i.e. not at an exchange). HBT holders do not need to register, they will receive their NII tokens automatically each month.

 

ETH holders can also participate in the airdriip by registering using hubii core, this is explained in more detail below (see the ‘I qualify with ETH, how do I register?’ question for a walkthrough of how to register). If an ETH holder registers for the airdriip at any point during the qualifying month, they will receive their full allocation of tokens for that period.

 

Each monthly airdriip will follow the token split set out below:

50% proportionally to HBT token holders (the token from our original ICO in 2017)

20% proportionally to ETH holders that register or deposit into hubii core

20% to a strategic growth fund

10% to key partners in the project

 

Tokens will be allocated to eligible addresses on a proportional basis using ‘balance-blocks’, which are explained below. This is the fairest method of distributing tokens during an airdrop, rewarding those who hold the most tokens during the qualifying period with the largest share.

 

 

When will the airdriip happen?

 

There will a total of 120 monthly airdriips over a period of 10 years. The accumulation period for the first airdriip will begin on 1st November 2018 and run until the end of the month. Tokens will then be distributed on or after 1st December 2018 using nahmii, with tokens being delivered to user’s off-chain balance (i.e. on nahmii).

 

 

How will my tokens be delivered?

 

The airdriip will use nahmii, so tokens will be delivered to the off-chain balance of an address. Off-chain balances on nahmii can be viewed using a variety of tools, including nahmii’s CLI, but we recommend using hubii core to manage your nahmii tokens.

 

Using hubii core you can easily request a withdrawal of your tokens back to the Ethereum mainnet. This feature is not currently available in hubii core, but will be by the time of the first airdriip.  You can download hubii core here.

 

 

What are balance-blocks?

 

Balance-blocks are the unit of eligibility for the airdriip. They are a measure of both size and duration of token holdings. At the beginning of each qualifying month, the balance-blocks total for each address is reset to zero. For HBT token holders, one balance-block is the equivalent of holding 1 HBT in an address they control for the duration of one block. For ETH holders, one balance-block is the equivalent of holding 1 ETH in a registered address for the duration of 1 block. In mathematical terms the amount of balance blocks is the area under curve of the balance as function of block number. At the end of the qualifying period NII allocations are determined by the balance-blocks accumulated at each address on a proportional basis.

 

The balance-block system is the fairest method of distributing tokens during an airdrop. This is best explained with an example:

 

Address 1 holds 1 HBT token at the start of the accumulation period. Each block the token is held contributes one balance-block. Assuming an average block time of 15 s there are about 172,800 blocks in total over a 30 day accumulation period. Thus the 1 HBT holding will contribute 1 * 172,800 = 172,800 balance-blocks over the 30 day time span. HBT holders receive 50% of the airdriip tokens each month, equivalent to 500,000,000 NII. If at the end of the month there are 1,700,000 balance blocks accumulated by all HBT holders, address 1 will receive 10% of all tokens allocated to HBT holders, which is 50,000,000 NII tokens.

 

Address 2 holds 1 HBT token at the start of the accumulation period. Each block the token is held contributes one balance-block, which would equate to around 172,800 balance-blocks in total over a 30 day accumulation period. If the 1 HBT token balance is moved out of address 2 after 15 days, the total balance-blocks accumulated will be 1 x 172,800 / 2 = 86,400 balance blocks. If at the end of the month there are 1,700,000 balance blocks accumulated by all HBT holders, address 2 will receive 5% of all tokens allocated to HBT holders, which is 25,000,000 NII tokens.

 

 

I qualify with HBT, how do I register for the airdriip?

 

All HBT token holders are eligible for the airdriip and no registration is required. The only requirement is that your HBT tokens are in an address that you control, i.e. that you control private keys. This is required to access your airdropped tokens, which will be delivered through nahmii.

 

50% of NII tokens will be distributed to HBT token holders on a proportional basis. Please refer to the previous answer (What are balance-blocks?) for information on how airdriip allocations are calculated.

 

 

I qualify with ETH, how do I register for the airdriip?

 

Unlike HBT token holders, who are registered automatically for the airdriip, ETH holders must register using hubii core. The registration process is straightforward and explained in the video walkthrough and step-by-step guide below.

 

20% of NII tokens will be distributed to ETH holders on a proportional basis. Please refer to the previous answer (What are balance-blocks?) for information on how airdriip allocations are calculated.

 

 

Below is a simple step-by-step guide showing how to navigate the registration process:

 

Navigate to ‘My nahmii’

 

Click ‘Yes’

 

 

Select the imported wallet to register

 

 

Connect wallet (if applicable)

 

 

Click register

 

 

Confirm signing (if applicable)

 

 

Your address should now be registered

 

 

 

How many tokens will I get each month?

 

Each monthly airdriip will follow the token split set out below:

50% proportionally to HBT token holders (the token from our original ICO in 2017)

20% proportionally to ETH holders that register or deposit into hubii core

20% to a strategic growth fund

10% to key partners in the project

 

Tokens are distributed on a proportional basis using ‘balance-blocks’ as the basis of the calculation (explained in the above section ‘What are balance-blocks?’). The exact share of the airdriip distributed to each qualifying address each month is determined by the following equations:

 

For HBT token holders:

 

For ETH holders: