From day one, our steps have been focused on building the most effective and high-quality financial solutions for emerging countries. That is why we have decided to change the network on which our tokens are deployed and will launch the new Num Stablecoins native to Polygon on March 20th, 2023.
The first Num-S tokens we issued were nuARS and nuPEN, both deployed on the BNB Chain. At first, we chose this network for our tokens due to its strong adoption in Latin America. To date, we have circulating tokens on the network of almost 2.5 million USD.
Over time, we identified that the Polygon network was growing in usage, quality, and offering important advantages for our mission: to build a Num Network that offers loans, yields, and stablecoins for emerging countries just one click away. The main advantages we highlight are scalability, speed, and low fees that Polygon can provide to our products.
Polygon is a network with high liquidity and robustness. Every day, new projects from all over the world are built on it. This creates an ecosystem of applications and tools that allow for the development and integration of blockchain solutions more quickly and efficiently. Additionally, Polygon allows us to increase our transaction processing capacity and improve the userexperience without compromising speed or security. This means that Num Stablecoins can scale more easily and benefit from faster transaction speeds and lower operating costs, which can significantly improve our competitiveness in the market.
These are the main reasons why we decided to migrate our tokens from the BNB Chain to Polygon. So, what will happen to the current tokens?
On 20/03, the launch of the two active coins (nuARS and nuPEN) on the Polygon network will take effect. After the launch and for an initial period, the original BNB Chain tokens and the new Polygon tokens will coexist. Through our partners, users will receive the new Num-S in the way they inform us. After this period, Num-S on the BNB Chain will no longer be supported, burned, and removed from circulation.
For DeFi users, you can continue to operate in the Pancake Swap liquidity pools (nuARS-USDC / nuPEN-USDC) to exchange your original Num Stablecoins. Both pools will be operational even after the launch and will then be closed.
Finally, the new tokens will have a change in their denomination. From now on, all our tokens (both current and future ones) will be called “Num Finance + fiat currency code“, and their ticker will be “n + fiat currency code”. For example, the “Num Finance ARS” token will be the token that follows the price of the Argentine peso, and its ticker will be “nARS”. The same will happen with the new Num Stablecoins. Additionally, our new tokens will look different from the current ones.
This new launch will contribute to the growth and excellence of our financial products and Num Stablecoins. Our goal is to continue building value in decentralized finance and cryptocurrencies, always with responsibility, transparency, and security. Just for this reason, the new tokens and their contracts have a Coinspect audit that met all quality and security standards. This is key to building a serious project. Additionally, users can already review the contracts for both coins (nARS and nPEN) on Polygon Scan.
We are building a Num Network that offers solutions to fintechs to scale in emerging markets. A network with the financial tools of the future that provides quick and secure access to decentralized finance. A new era has begun.