Nodle token and Network rewards
What is the NODL token?
NODL is the native cryptocurrency of the Nodle network. It creates an incentive for participants like you to come and grow the network.
What is the NODL token price?
You can check the price on CoinMarketCap or just type in your browser to get an answer.
How are rewards calculated and allocated?
The amount of rewards you receive depends on your contribution to building the Nodle network and is calculated based on:
- App time availability - the percentage of time the Nodle app has been running on a phone and connected to the Internet.
- Bluetooth availability - a metric indicating if the Bluetooth has been switched on on a phone.
- Geographical coverage - your contribution to the network coverage in visited H3 tiles, which is calculated based on the number of nodes in each H3 tile.
The total amount of rewards is set per day and is shared among all network nodes. It means that the amount of rewards you receive will reduce over time as the network grows. However, the bigger the network, the higher the NODL token price on the market. You can check the current token daily issuance here
Rewards are calculated every 15 minutes based on node's network contribution metrics listed above. This amount is shown in the Nodle app as "pending" and is allocated to node's wallet every 4 hours.
How can I earn more rewards?
Our app is specially designed to run at all times in background without impacting the user experience. All you need is to make sure that your phone and the app are configured properly, particularly:
- Bluetooth is switched on, and the Bluetooth permission is granted to the app
- The location sharing permission is set to 'Always allowed'
- The battery optimization setting is switched off for the app (applicable only for Android phones)
- The developer mode is switched off on the phone
You can check granted permissions in the phone settings > Nodle app > Permissions, and all other settings in the respective phone settings. The app will also notify you if some critical permissions are missing.
If your device and the app are configured properly you can use the following tips to maximize your rewards:
- Make sure the app runs 24/7 either in foreground or background
- Move as much as possible in order to create a wider coverage
- If you have multiple devices with the Nodle or the Hotspot apps, then keep a maximum of 4 of them in one location. If you have more, then place them far away from each other.
How can I cash out or exchange my tokens?
First, we recommend you consider your tokens as an investment and keep them for the future. You will be able to sell them anytime, so there is no need to hurry.
If you want to sell or exchange your tokens, you can do it on any crypto exchange on which the NODL is listed. You can check the list of exchanges and the current token price on the CoinMarketCap or on the CoinGecko. You need to deposit your tokens into your exchange account to trade them. To do this, you need to send your tokens to the deposit address provided by the exchange. Once the exchange receives tokens, you can trade them. Please check the deposit instructions of the selected exchange before sending your tokens.