iGenius: ndau FAQ
What is NDAU?
NDAU is an adaptive digital currency, built by Oneiro, to optimize for long-term store of value and is supported by a decentralized ecosystem.
Designed with built-in economic structures that incentivize both stability and potential for growth, NDAU provides all the benefits of a digital currency while promoting more fair and accountable governance, dependability, and greater safety for owners not found in existing cryptocurrencies.
Unlike stable coins, NDAU is not pegged to fiat currencies or commodities. This allows more desirable characteristics for long-term holders.
NDAU is a completely unique blockchain (not an ERC-20 token).
Why was NDAU created?
Three years ago, an anonymous group of early bitcoin enthusiasts and experts in economics, monetary policy, cryptography, and computer science came together to discuss the largest barriers to mainstream crypto adoption for long term holding. This group later became the NDAU Collective.
The NDAU Collective identified many different issues with cryptocurrencies today, and highlighted three key issues that needed a solution: volatility, dependability, and governance.
The NDAU Collective believed these were the three largest barriers to using crypto as a long term store of value for both institutions and individuals.
NDAU was created to provide a solution with built-in economic constraints to help buoy the price based on demand, and a well thought-out governance system that allows for true decentralized and representative decision making.
Why is NDAU not a security?
NDAU is an adaptive digital currency not a security, and NDAU is not offering any type of ownership stake in any company. NDAU owners own NDAU in the same way Bitcoin owners own Bitcoin.
Bitcoin miners validate transactions on the distributed network and get rewarded for doing so. This is because Bitcoin is based on a Proof of Work consensus mechanism. In NDAU , node operators validate the transactions on the distributed network and get rewarded for doing so. This is because NDAU is based on a Proof of Stake consensus mechanism.
So miners and node operators do exactly the same thing on their respective platforms by providing consensus for the transactions on their blockchains. NDAU gives zero ownership in a company or any other organisation/Foundation and this is stated clearly in our terms and conditions.
How is NDAU different from Bitcoin or other cryptocurrencies?
NDAU is a free floating, adaptive digital currency that has the freedom to rise in value as demand warrants; however, its downside risk is mitigated by structural mechanisms that incentivize free market forces to support the market price of ndau at key distress levels.
How do I buy NDAU?
1. Log into your backoffice
2. Go to “my products”
3. Go to “NDAU”
4. Follow the step by step process:
a. Download the NDAU wallet
b. Enter your NDAU wallet address
c. Select your package and quantity
d. Submit your payment
What payment methods can be used to purchase NDAU?
Payments can be made with Wire Transfer, Bitcoin or Skrill.
*Debit and credit cards are not accepted as a form of payment.
What NDAU packages are available to purchase?
You can select four different staking lock periods:
90 days*
6 months*
12 months*
36 months** (protection plan included)
*The 90 day, 6 month, and 12 month lock periods do NOT include the protection plan on your NDAU purchase.
**The 36 month lock does include the protection plan for the price of your NDAU purchase.
When will I receive my NDAU in my wallet?
Your NDAU will be sent to your wallet 14-21 days after your payment has been processed.
What is the SIB fee on the wallet?
yThe Stabilization Incentive Burn (SIB) is a mechanism used to help stabilize and support the market price of NDAU. When in effect, it is imposed as an additional fee when NDAU are transferred from a wallet account to an exchange account.
Based on observed transactions, a current market price is regularly published to the NDAU network. If the market price of NDAU drops below 95% of the current next issue price, the SIB fee is imposed on NDAU transfers from any wallet account to any exchange account.
If the market price is 95% of the next issue price, the SIB fee is 0%. It increases linearly until it reaches 50% if the market price equals the floor price. To reduce the supply of NDAU, and to support the market price, NDAU paid as SIB fees are removed permanently from circulation (“burned”).
When does the lock begin on my ndau?
Your NDAU is not considered locked until you log into your NDAU wallet and select the “start countdown timer” button. If you do not select the start countdown button, your NDAU will not begin the lock.
Example: Kelly purchases a $5,000 NDAU 3 Year Protected Package on November 1st. On November 18th, Kelly will receive her NDAU in her ndau wallet. However, Kelly does not select the “start countdown timer” button until Jan 2nd. Kelly’s NDAU will be locked for 3 years beginning on Jan 2nd, NOT November 18th.
Is there a way to see my daily compound of NDAU while locked?
Yes, when you view your account details you can select the “Account Address” link. This will show you the daily deposit of NDAU for your locked ndau.
What is the protection plan that is included with the 36 month lock?
Total Protection Plus (TPP) provides a protection plan that insures the cost of your NDAU purchase. Regardless of the outcome of your NDAU purchase, the market price, or the amount of NDAU purchased for your 3 year lock, TPP will protect the original purchase price.
5 years from your date of purchase, you will have the option to receive a 50% payout on your original purchase price of NDAU . If you forgo the 5 year, 50% payout, 10 years from your date of purchase you will have the option to receive the full 100% payout on your original purchase price of NDAU .
Example: John purchases a $3,000 NDAU 3 Year Protected Package (that includes the TPP protection) on January 20th, 2021. 5 years later, on January 20th 2026, John will have the option to be paid out $1,500 (50% of his $3,000 purchase price) OR he can wait 10 years, and on January 20th, 2031 he can receive his full $3,000 (100% of purchase price) as a payout.
How do I install the NDAU wallet app and receive NDAU?
Step 1:
Download the NDAU wallet app from one of these official sources:
Launch the app on your phone or tablet, then follow the setup instructions in the app for saving your recovery phrase and creating a password for your wallet.
Step 2:
Create and manage your NDAU account(s).
Below is a picture of your NDAU wallet app dashboard. From here, you can create and manage all of your NDAU accounts.
One account will be created for you automatically, then you can create additional accounts by clicking “Add Account.”
Choose how many new accounts you’d like to add, then click the “add new” button.
Step 3:
Find your NDAU wallet address.
To receive NDAU in an account, you need to give the sender your account address. In the app, click on “View Account Details” to go to the account details screen.
Click on the “Receive” button located on the account details screen.
From here you can see and share your NDAU account address by clicking “share”, or by letting someone scan your QR code.
Step 4:
Receive NDAU in your ndau wallet!
Does my wallet have to be created before purchasing NDAU?
Yes. In order to complete the purchase process you will be required to first submit an address generated from your NDAU wallet.
If NDAU is not tethered to a commodity or fiat currency, how will it try to maintain a stable price?
While no project can ever guarantee a particular price, NDAU has economic incentives built into its ecosystem to encourage market interactions between NDAU holders that tend to stabilize its price. NDAU holders are rewarded based on the duration of holding.
NDAU’s monetary policy automatically responds to market conditions in real time, releasing new NDAU for sale from the endowment only when demand warrants and according to a public schedule of next issue prices that rise exponentially over time.
Proceeds from NDAU sales flow into an endowment of assets, which serves as a source of liquidity to support ndau monetary policy. The endowment is then used by the market maker to buy and burn surplus NDAU.
During market downturns, excess supply of NDAU are taken out of circulation through both algorithmic mechanisms and market makers who buy back NDAU at a dynamic floor price – similar to how central banks conduct open market operations, except more decentralized.
What is the Net Effective Yield of NDAU’s continuously compounded EAI?
Please see the following chart:
Compared to Bitcoin’s power consumption, what is NDAU’s impact on the environment?
NDAU is built on its own native blockchain that uses a Proof-of-Stake (PoS) algorithm. Compared to Bitcoin’s Proof-of-Work (PoW) algorithm, NDAU’s potential environmental impact is far smaller since NDAU’s algorithm is about 99% more energy efficient than Bitcoin.