Introducing Nym’s Zero-Knowledge Powered Payment System and Perpetual Token Buyback Model

Privacy-centric firm Nym has launched its decentralized payment system, DePIN, and introduced a perpetual token buyback model. The DePIN payments system and token buyback are now available for public testing. NymVPN, which was first introduced in November 2023, is set to launch commercially on March 13, 2025.

Decentralized Payment System and Token Buyback

The NymVPN team has announced that users will have the opportunity to battle-test the payment mechanism ahead of the public rollout. Once live, subscribers will be able to pay in fiat currencies such as euros and dollars, or in Bitcoin. The project also supports payments with the native NYM token.

Nym will convert all fiat and crypto payments for NymVPN subscriptions to the native token NYM, with the perpetual buyback set to create a “flywheel” reflecting market demand. This means that subscriptions will help create consistent buy pressure for the NYM token, providing further incentive for the community.

“The launch of NYM activated the supply-side of privacy and created a network of over a thousand nodes. Today we are activating the demand side, allowing ordinary users to pay in fiat and Bitcoin for NymVPN. Their payment is then converted to NYM token buy-orders to keep the network running.”

Global Need for Privacy Solutions

With the increasing need for privacy solutions and VPN adoption on the rise amid increased security and censorship, Nym’s layer-0 network offers both the anonymity and safety users need. The NYM token, which launched in 2022, is designed to reward the Nym ecosystem’s mixnet node operators.

According to Harry Halpin, chief executive officer of Nym, the token is key to the project’s goal of delivering a privacy-focused decentralized network. The launch of the DePIN payment system and the NYM token repurchases brings the project’s crypto-economics “full circle.”

Real-World Demand for Secure and Private Communication

Jaya Brekke, chief strategy officer at Nym, emphasized the growing real-world need for secure and private communication. “Just like everyone should enjoy clean water and electricity, people deserve secure and private communication. This is not speculative, but a growing real world need.”

With the launch of the perpetual buyback mechanism, the token can shift out of a speculative promise to instead signal real-world demand. As the demand for privacy solutions continues to grow, Nym’s decentralized payment system and token buyback model are poised to play a significant role in meeting this need.

Stay up-to-date with the latest news and developments in the world of cryptocurrencies and finance on Global Crypto News.

Post Views: 0