The Nyx blockchain’s smart contracts provide power. $NYM token economics is the driving force behind the Nym mixnet and the future private internet.People from all around the world contribute to the privacy system by operating and staking on privacy mix nodes. The native $NYM utility token is used to rank and reward mix nodes, as well as to pay for mixnet access and use.Due to the fact that openness and transparency are critical to the Nym goal, this article will provide a detailed description of the smart contracts that govern the token economics of Nym.The Nym mixnet is powered by a pair of smart contracts operating on the Nyx blockchain. The Nyx blockchain, a layer-1 blockchain built on the Cosmos SDK, is written in Rust and compiled to WebAssembly. Nyx addresses begin with ‘n’, much as Ethereum addresses begin with ‘0x’.The following is a quick overview of the economic dynamics of the $NYM token. Let’s learn more about the smart contracts that underpin the Nym mixnet.Economic dynamics of the Nym token in a nutshell:The total supply of $NYM coins is one billion. These are disbursed over time according to a reward and vesting schedule. At the time of writing this article, the circulating supply is $609.4M. The screenshot from coinmarketcap is attached above.A ‘mixmining’ reserve of 250m NYMs is available, with incentives distributed to mix node operators and delegators on a monthly basis. The mixmining reserve now includes 233 million NYM tokens, therefore the vast majority have not yet been distributed.The Nyx (Cosmos) blockchain has produced all NYM tokens. With Celer, NYM tokens can be bridged to Ethereum (ERC-20) and the BNB chain.Coinlist Option 1 purchasers received 47,839,205 NYM (ERC-20) tokens from this address: 0x525A8F6F3Ba4752868cde25164382BfbaE3990e1.Option 2 buyers, backers, validators, and team members are on a vesting schedule, with native NYM coins released quarterly.Native NYM tokens can be staked as a measure of reputation on Nym nodes, removing them from circulation and allowing them to be bonded or delegated on nodes as reputation. They have the ability to be un-bonded and delegated at any time.Nyx is home to two smart contracts that are critical to the Nym mixnet. These are the Mixnet Contract and the Vesting Contract.The Mixnet ContractThe Mixnet Contract, which presently comprises NYM tokens from three sources, facilitates incentives, reputation, and payments.A mixmining reserve is used to bootstrap mix node rewards until paid usage is accessible. The rewards are given out on a monthly basis.Tokens were obtained in order to bond a mixnode. These can be removed.Tokens were obtained in order to delegate stake to a mix node. These can be removed.When paid usage of the Nym mixnet becomes available, this smart contract will receive NYM tokens from persons and services who pay to use the mixnet.The Vesting ContractThe Vesting Contract (393m NYMs at the moment) permits the quarterly distribution of vesting tokens to Coinlist buyers, backers, and team members.Contract address: n1nc5tatafv6eyq7llkr2gv50ff9e22mnf70qgjlv737ktmt4eswrq73f2nwCoinList purchasers are subject to a two-year vesting period that began in May 2022.The vesting period for backers begins in August 2022 and will last two years.The Nym team is on a two-year vesting programme with varying start dates.In conclusion, Nym is establishing the groundwork for an anti-surveillance, open source, transparent, and decentralised private internet.#NYM #NymTech #Privacy #PrivacyInBlockchain