I vaguely remember when the airdrop inquiry first came out, the community was filled with complaints, but Nillion listened to the community's voice and took action, regaining the trust of the community and the market!
1. Introduction to Nillion
Nillion is a decentralized data storage and computation network, a Layer 1 blockchain project built on the Cosmos SDK, aimed at becoming "the first blind computer for humanity."
The network utilizes privacy-enhancing technologies (PETs) to achieve data computation and storage while ensuring privacy, unlocking important new utilities in Web3 through use cases such as decentralized credit scoring, decentralized trusted execution environments, private NFTs, and decentralized secure storage services.
Unlike traditional blockchains that protect interaction data, Nillion is dedicated to protecting the content of data itself, using privacy-enhancing technologies (PETs) such as Multi-Party Computation (MPC), Fully Homomorphic Encryption (FHE), and Zero-Knowledge Proofs (ZKP) to achieve this, paving the way for new advancements in decentralized data management and processing models.
2. Nillion Financing Process
On December 12, 2022, completed a $20 million financing round, led by Distributed Global, with participation from GSR and HashKey.
On June 26, 2024, Nillion completed a $20 million community funding round, with specific details about the investors not disclosed.
On October 30, 2024, Nillion completed a $25 million financing round, led by Hack VC, with participation from Distributed Global and HashKey.
3. Project Features
Decentralized Credit Scoring: Achieves trustworthy credit assessments through privacy protection technology, without relying on centralized institutions.
Decentralized Trusted Execution Environment (TEE): Provides a secure and private execution environment for smart contracts and data processing.
Private NFTs: Enables the creation and trading of non-fungible tokens while protecting user privacy.
Decentralized Secure Storage Services: Offers highly secure and decentralized data storage solutions.
Decentralized Ecosystem: Nillion is building a decentralized ecosystem focused on privacy and efficiency, addressing key challenges in Web3.
4. Token Economics
The total supply of NIL tokens is 1 billion, with an initial circulation of 19.52%. The token distribution plan is as follows:
• Ecosystem and R&D: 29%;
• Community: 20%;
• Protocol Development: 10%;
• Early Supporters: 21%;
• Core Contributors: 20%;
5. Personal Summary
Simply put, my view on the $NIL price is that similar privacy projects have market capitalizations ranging from $2 to $5 billion. If NIL enters the mid-cap space, the price could easily exceed $1. This is just personal analysis and does not constitute investment advice!!!
