Draft · Version 0.5 · Last updated 13 July 2026
Prepared in accordance with Regulation (EU) 2023/1114 (Markets in Crypto-Assets, “MiCA”), Title II, Article 6 and Annex I.
Public overview, redacted. This is a public version of the NYKS crypto-asset white paper. Offeror identity, management, ownership, registered address, and registration identifiers (LEI, registration number) have been omitted. The complete crypto-asset white paper notified under MiCA, including those details, is available on request.
Official crypto-asset white paper. The complete white paper, in the official machine-readable format (Inline XBRL / XHTML) prescribed under MiCA: NYKS crypto-asset white paper (XHTML, English).
This white paper relates to a crypto-asset that is neither an asset-referenced token (ART) nor an e-money token (EMT). It is prepared for the admission to trading of the crypto-asset “NYKS”. There is no offer to the public by, or on behalf of, the offeror; NYKS enters circulation solely through proof-of-work mining.
Date of notification: [● dd/mm/yyyy]
Compliance statement (Art. 6(3)): > This crypto-asset white paper has not been approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset white paper.
Statement in conformity with Art. 6(5): > This crypto-asset white paper complies with Title II of Regulation (EU) 2023/1114 and, to the best knowledge of the management body of the offeror, the information presented in the crypto-asset white paper is fair, clear and not misleading and the crypto-asset white paper makes no omission likely to affect its import.
Mandatory warning (Art. 6(5), to appear in the summary): > This crypto-asset white paper has not been reviewed or approved by any competent authority in any Member State of the European Union. The offeror of the crypto-asset is solely responsible for the content of this crypto-asset white paper. This crypto-asset may lose its value in part or in full, may not always be transferable and may not be liquid. Where applicable, the offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to the applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 or any other offer document pursuant to Union or national law.
Right of withdrawal (Art. 13): > Not applicable. This white paper relates to admission to trading only. NYKS is not offered to the public by, or on behalf of, the offeror for consideration, and new units enter circulation solely through proof-of-work mining. Accordingly, the Article 13 right of withdrawal does not apply.
Statement on climate and environment (Art. 6(1)(i)): > Information on the principal adverse impacts on the climate and other environment-related adverse impacts of the consensus mechanism used to issue this crypto-asset is set out in Part J of this white paper.
Offeror identity redacted in this public overview. The offeror’s legal name, legal form, registered office, head office, management body, ownership/parent company, and registration identifiers (LEI, national registration number) are set out in full in the crypto-asset white paper notified under MiCA, and are omitted here.
For context, and without identifying the offeror: the offeror is a newly established private company, founder-led and founder-funded, with no external investors. Its business activity is the development, maintenance, and promotion of the Nyks protocol and the admission to trading of the NYKS crypto-asset. It is not a financial institution, and audited financial statements are not yet available. General contact: hello@nyks.tech.
NYKS is issued natively by the Nyks protocol through its proof-of-work consensus mechanism and genesis allocation. There is no separate issuing legal entity distinct from the offeror. The offeror does not control issuance beyond the protocol rules described in Parts F and H. Offeror ownership details are set out in the notified white paper and are omitted from this public overview.
Not applicable. This white paper is not drawn up by an operator of a trading platform. Admission to trading, if any, is sought by third-party crypto-asset service providers and not by the offeror.
D.1 Name of the crypto-asset project and of the crypto-asset: Nyks / NYKS.
D.2 Abstract / brief description: Nyks is a self-developed Layer-1 blockchain with confidential (shielded) transactions, base-layer smart contracts, and post-quantum cryptography, secured by Nakamoto-style proof-of-work. Transactions are confidential by default, and validity is enforced by transparent zero-knowledge proofs (zk-STARKs) that require no trusted setup and are post-quantum secure. Holders control per-address and per-wallet viewing keys, enabling voluntary, scoped disclosure of their own transaction data to a chosen party (for example an auditor or a regulated intermediary). A separate attestation framework provides privacy-preserving compliance attestation: third-party attestors can certify a holder’s compliance to a service provider without that provider seeing the holder’s transaction data.
D.3 Details of all persons involved in the implementation of the project: The project is founder-led and personally funded by its founders, with no external investors. Founder, management, and development-team details are set out in the notified white paper and are omitted from this public overview.
D.4 Key features of goods/services to be developed: - Confidential value transfer with post-quantum security (live) - Transparent (no trusted setup) zero-knowledge proofs using zk-STARKs (live) - Holder-controlled selective disclosure via per-address / per-wallet viewing keys (live) - Smart-contract execution at the base layer (planned) - Privacy-preserving compliance attestation: third-party attestors certify a holder’s compliance to a service provider without exposing the holder’s transaction data (planned) - Optional time-locked “insurance” outputs providing theft-recovery protection for custodial holders such as exchanges and cold-wallet operators (planned) - Rules-based issuance via CPU-mineable proof-of-work: a 4,200,000-NYKS main schedule then a constant tail emission (no absolute cap)
D.5 Past and future milestones / roadmap and use of any funds raised: Milestones are stated by development period. Near-term quarters are 2026 unless a year is given. Future items are forward-looking, subject to change, and not guaranteed as to form or timing.
Delivered (past milestones):
Planned (future milestones):
No funds or crypto-assets are collected from holders through the offer or admission. The project is funded by its founders. New NYKS enter circulation solely via proof-of-work mining rewards.
D.6 Reasons for the offer / admission to trading: Decentralised distribution of NYKS through proof-of-work mining and the establishment of liquid secondary markets via admission to trading on third-party platforms. There has been no ICO, presale or public coin offering by the offeror.
D.7 Planned use of any collected funds/crypto-assets: Not applicable, no funds or crypto-assets are collected from holders through the offer or admission.
| Field | Detail |
|---|---|
| E.1 Public offer or admission to trading? | Admission to trading only. There is no offer to the public by, or on behalf of, the offeror. NYKS enters circulation solely through proof-of-work mining; any later secondary-market trading is conducted by third parties, not the offeror. |
| E.2 Reasons for the offer/admission | Decentralised distribution and establishment of liquid secondary markets (see D.6). |
| E.3 If a public offer, total number of NYKS offered | Not applicable, no public offer for consideration by the offeror. |
| E.4 If admission to trading, number of NYKS admitted | [● Number admitted, once known] |
| E.5 Issue price / price determination method | No fixed issue price. NYKS is distributed via proof-of-work mining; its price is market-determined by trading on secondary markets. |
| E.6 Total supply | Main schedule capped at 4,200,000 NYKS (30% premine to the development team, 70% mined), after which a tail emission continues indefinitely (no absolute cap). See F.3 to F.5. |
| E.7 Subscription period | Not applicable, continuous issuance via mining; no subscription period. |
| E.8 Minimum / maximum subscription amount | Not applicable. |
| E.9 Methods and time limits for delivery | Not applicable, NYKS is acquired on secondary markets or earned through mining; there is no subscription delivery by the offeror. |
| E.10 Methods of payment accepted | Not applicable, the offeror does not sell NYKS to holders. |
| E.11 Right of withdrawal | See Mandatory statements (Art. 13). |
| E.12 Costs/charges to the holder | The offeror imposes no costs or charges on holders in connection with the admission. Network transaction fees apply per protocol rules. |
| E.13 Target holders (retail / qualified / both; geographies) | Global; no targeting or restriction by the offeror. Because distribution is permissionless (proof-of-work mining) and admission to trading is by third parties, the offeror does not target or control who acquires or holds NYKS; potential holders are worldwide, both retail and qualified. [● Counsel to confirm whether any jurisdictions should be excluded at the admission/CASP level.] |
| E.14 Refund arrangements / mechanism | Not applicable, no funds are collected from holders. |
| E.15 Crypto-asset service providers responsible for placement / form of placement | None. The offeror does not place NYKS through any crypto-asset service provider. |
| E.16 Name(s) of trading platform(s) where admission is sought (if known) | No trading platform is confirmed at this time. The offeror is exploring admission to trading on one or more third-party platforms; the platform(s), legal entity, jurisdiction, status of discussions, and expected admission date cannot be confirmed yet. |
| E.17 Applicable law | The laws of the offeror’s jurisdiction of incorporation (set out in the notified white paper). |
| E.18 Competent court | The courts of the offeror’s jurisdiction of incorporation (set out in the notified white paper). |
F.1 Type of crypto-asset: A crypto-asset other than an asset-referenced token or e-money token. NYKS is a native protocol crypto-asset used for transaction fees, confidential transfers, and miner rewards. It does not reference the value of any other asset and does not purport to maintain a stable value; it has no peg, reserve, stabilisation mechanism, or redemption right.
F.2 Functionality: NYKS is used to (i) pay transaction/network fees, (ii) reward miners securing the network via proof-of-work, and (iii) transfer confidential value between participants. Mining rewards require active proof-of-work mining; NYKS confers no reward for merely holding it, and no staking, dividend, interest, profit-share, or governance-voting rights.
F.3 Total / maximum supply: The main issuance schedule is capped at 4,200,000 NYKS. Once that amount has been issued, a tail emission continues indefinitely, so there is no absolute maximum supply. The smallest unit is the nyx (1 NYKS = 100,000,000 nyx).
F.4 Supply breakdown (main schedule):
| Component | Amount | Share |
|---|---|---|
| Premine, development team (15% vesting over 2 years + 15% over 5 years) | 1,260,000 NYKS | 30% |
| Mining issuance | 2,940,000 NYKS | 70% |
| Pre-tail total (main schedule) | 4,200,000 NYKS | 100% |
| Tail emission (after the main schedule) | 0.256 NYKS per block (about 1,753 NYKS per monthly generation), indefinite | no cap |
F.5 Issuance schedule (mining): New NYKS are issued as block rewards under a proof-of-work schedule organised in monthly generations of approximately 6,848 blocks (target block time approximately 6.4 minutes). The per-block reward starts at 12.8 NYKS and decreases by approximately 4.55% each generation until it reaches a constant tail emission of 0.256 NYKS per block (about 1,753 NYKS per generation) at generation 84 (approximately seven years); the tail then continues indefinitely, so supply keeps increasing very gradually beyond the 4,200,000-NYKS reference total and there is no absolute hard cap. 50% of each mining block reward is time-locked for one month (one generation) at issuance. Representative points on the schedule (mining issuance only; the 1,260,000-NYKS premine is additional):
| Generation (month) | Reward / block | Emission / generation | Cumulative mined |
|---|---|---|---|
| 0 | 12.80 NYKS | 87,658 NYKS | 87,658 NYKS |
| 6 | 9.68 NYKS | 66,288 NYKS | 535,914 NYKS |
| 12 | 7.32 NYKS | 50,128 NYKS | 874,892 NYKS |
| 24 | 4.19 NYKS | 28,666 NYKS | 1,325,080 NYKS |
| 36 | 2.39 NYKS | 16,393 NYKS | 1,582,524 NYKS |
| 48 | 1.37 NYKS | 9,375 NYKS | 1,729,747 NYKS |
| 60 | 0.78 NYKS | 5,361 NYKS | 1,813,937 NYKS |
| 72 | 0.45 NYKS | 3,066 NYKS | 1,862,083 NYKS |
| 84 (tail begins) | 0.256 NYKS | 1,753 NYKS | 1,889,615 NYKS |
| 85+ | 0.256 NYKS (flat) | 1,753 NYKS | +1,753 NYKS / generation |
The complete generation-by-generation schedule is defined in the protocol and available on request.
F.6 Premine allocation and vesting: The 30% premine (1,260,000 NYKS) is allocated to the development team and vests in two tranches, each unlocking every six (6) months: 15% (630,000 NYKS) over two (2) years (four unlocks) and 15% (630,000 NYKS) over five (5) years (ten unlocks).
F.7 Divisibility and identifiers: NYKS is divisible to 8 decimal places; the smallest unit is the nyx, where 1 NYKS = 100,000,000 (10⁸) nyx. The token identifier (ticker) is NYKS. Addresses use Bech32m encoding. There are two mainnet address types: symmetric addresses (human-readable prefix nsymam) and generation addresses (prefix nolgam); the corresponding testnet prefixes are nsymat and nolgat. No Digital Token Identifier (DTI, ISO 24165) has been obtained; the offeror will apply for one if required at admission.
F.8 Whether the crypto-asset is intended to be admitted to trading: Yes. The offeror intends NYKS to be admitted to trading on one or more third-party trading platforms (see Part E).
G.1 Rights and obligations of the holder: NYKS confers the ability to transact on, and pay fees to, the Nyks network in accordance with the protocol rules. NYKS does not confer any claim against the offeror, any equity, ownership, dividend, interest, staking reward, profit-share, governance or voting right over the offeror or the protocol, redemption right, or entitlement to future profits. The protocol operates a rules-based monetary policy (a decreasing mining schedule followed by a constant tail emission; there is no fixed hard cap, see F.3–F.5) and an anti-fork policy.
G.2 Exercise of those rights: Rights are exercised by holding the relevant private keys and broadcasting valid transactions to the network.
G.3 Conditions for modification of rights: Protocol rules may change through the network’s software-upgrade process, maintained by the core development team. There is no formal on-chain governance at present; a formal governance process is planned. The anti-fork policy means the project intends to recognise and support only the canonical upgraded chain; because the software is open-source, it cannot technically prevent third parties from forking it. Holders and node operators are notified of upgrades through the project’s public communication channels (the project website and its social / community channels).
G.4 Retention of premine / future offers: The 30% premine (1,260,000 NYKS) allocated to the development team is held in a multisignature wallet controlled jointly by the offeror’s owners, subject to the vesting and lock-ups in F.6. There are no planned future public offers by the offeror; NYKS otherwise enters circulation solely through proof-of-work mining.
G.5 Utility features: NYKS utility is limited to network use, paying transaction fees, making confidential transfers, and protocol participation (mining). It provides no access to any other goods, services, features, or benefits.
G.6 Redemption / guarantee / protection schemes: None. NYKS is not covered by any investor-compensation or deposit-guarantee scheme.
G.7 Transfer restrictions: Freely transferable on the Nyks network subject to protocol rules and the anti-fork policy. The offeror imposes no contractual transfer restrictions. Holders who voluntarily use the optional “insurance” output feature (Part H.7) accept that funds placed in such outputs are subject to the associated time-locked recovery window; this opt-in feature does not affect the transferability or finality of standard transfers.
H.1 Distributed ledger technology: Nyks is a self-developed Layer-1 blockchain secured by Nakamoto-style proof-of-work consensus. Addresses use Bech32m encoding (mainnet prefixes nsymam for symmetric addresses and nolgam for generation addresses). NYKS does not follow any token standard such as ERC-20, ERC-721 or BEP-20.
H.2 Consensus mechanism: Proof-of-work using the post-quantum Tip5 hash function, an arithmetization-oriented hash over a 64-bit prime field that is also the hash used to generate the network’s zk-STARK proofs. The proof-of-work is deliberately memory-hard: for each block a miner must first build a large Merkle tree (the guesser buffer) of 2²⁷ = 134,217,728 leaves derived from the parent block digest, occupying on the order of 10 GB of RAM. This favours commodity CPUs with sufficient memory and resists ASIC and large-scale GPU optimisation. Each nonce attempt derives two leaf indices through 63 sequential Tip5 permutations, opens two Merkle authentication paths (tree height 27), and computes the block digest (approximately 10 plus the tree height, about 37 Tip5 permutations); a block is valid when that digest is less than or equal to the current target. The target block time is approximately 6.4 minutes (384 seconds), with a minimum block time of 60 seconds; the target is adjusted from a genesis difficulty set in the protocol to track the observed block interval.
H.3 Cryptography: - Post-quantum cryptography is used for the core signature and commitment scheme, providing security against both classical and quantum adversaries. - zk-STARKs (scalable transparent arguments of knowledge) are used for confidentiality and validity proofs. STARKs require no trusted setup, are transparent, and are post-quantum secure.
H.4 Confidentiality and selective disclosure: Transactions are confidential by default: amounts, balances, counterparties, and transaction history are not publicly visible on-chain. Confidentiality and transaction validity are enforced by transparent zero-knowledge proofs (zk-STARKs) that require no trusted setup. Holders hold per-address and per-wallet viewing keys and may share a viewing key with a chosen party (for example, an auditor or a regulated intermediary) to grant scoped, read-only disclosure of their own transaction data. Such disclosure is voluntary and holder-controlled. The protocol does not perform automated, network-level transaction monitoring. Compliance and screening obligations are addressed by regulated intermediaries at the crypto-asset-service-provider (CASP) boundary, where value enters or leaves the regulated perimeter, supported where a holder chooses by holder-provided viewing keys.
H.5 Audit of the technology used: No independent third-party security, cryptography, or code audit has been completed to date, and there is no public bug-bounty programme. An independent audit / cryptography review is planned (before or after notification). [● Provider, date and scope once available.]
H.6 Protocol governance / who can change it: The protocol is maintained by the core development team; there is no formal on-chain governance at present; a formal governance process is planned. The anti-fork policy means the project intends to recognise and support only the canonical upgraded chain, but, the software being open-source, cannot technically prevent third parties from forking it. Holders and node operators are notified of upgrades through the project’s public communication channels (the project website and its social / community channels).
H.7 Optional recovery mechanism (“insurance” outputs): The protocol supports an optional output type (“insurance” outputs) intended for custodial holders such as exchanges and cold-wallet operators. Funds a holder places in an insurance output are, when subsequently spent, time-locked for a recovery window of approximately 30 days (about 6,750 blocks), during which the original holder may reclaim them using their pre-committed recovery key. This provides a theft-recovery capability: for example, recovering funds removed by an unauthorised party within the window. The mechanism is opt-in and applies only to funds a holder deliberately places in insurance outputs; it does not affect the finality of standard transfers. This is a security feature only and does not provide transaction monitoring, screening, or any compliance functionality. This feature is planned (not yet live).
H.8 Compliance attestation (privacy-preserving): NYKS is designed to support an attestation framework that lets a holder demonstrate regulatory compliance to a crypto-asset service provider (CASP) without disclosing private transaction data to that CASP. The framework has four elements:
This provides auditable privacy: confidentiality is preserved toward the CASP and the public, while compliance is established through an accountable attestor that is registered, jurisdiction-bound, audited, and revocable (with revocation status published in the registry). The framework is independent of the viewing-key disclosure described in H.4. Its effectiveness depends on the availability of qualified attestors and on CASP acceptance. This framework, including the off-chain attestor tooling, is planned (not yet live). Each registry entry records the attestor’s public key, the compliance policy and standard it certifies (for example, proving that none of the holder’s coins descend from a flagged address), its jurisdiction, an audit reference, a validity period, and a revocation status; certificates are time-bound and reference the policy version under which they were issued.
The following is a non-exhaustive summary of material risks. Prospective holders should read it in full.
I.1 Offer-related risks: The offeror is newly established with no operating history. The project is founder-funded and reliant on key personnel (in particular the founder and director). There are no external investors, which concentrates execution risk.
I.2 Issuer/offeror risks: Reliance on continued development; the offeror may cease to support the protocol; no recourse against the offeror for loss of value.
I.3 Crypto-asset risks: NYKS may lose its value in part or in full; it may not always be transferable; it may not be liquid; price volatility; possible absence of a secondary market; risk of total loss of access if private keys are lost. NYKS has no absolute maximum supply: after the 4,200,000-NYKS main supply is issued, a constant tail emission continues indefinitely, so the circulating supply increases over time and holders may be diluted.
I.4 Project-implementation risks: Roadmap features (including the smart-contract / programmability layer and admission to trading on third-party platforms) may be delayed, modified, or not delivered in any particular form or timeframe.
I.5 Technology risks: Smart-contract and cryptographic implementation bugs; risk of consensus failure, chain reorganisation, or 51% attack; reliance on the continued security of the post-quantum, Tip5 and STARK constructions used; dependency on third-party software.
I.6 Mitigation measures: 50% of each mining block reward is time-locked for one month at issuance, and the 30% premine vests over two and five years (six-monthly unlocks, see F.6), mitigating supply-shock risk. Issuance follows a fixed, rules-based schedule (a 4,200,000-NYKS main phase then a constant tail emission), and an anti-fork policy constrains recognised protocol changes. An independent security/cryptography audit is planned. [● Confirm and expand.]
I.7 Regulatory and legal risks: NYKS provides confidentiality by default and is therefore a privacy-enhancing crypto-asset. Regulation (EU) 2024/1624 (AMLR), applicable from July 2027, restricts how supervised intermediaries may handle anonymity-enhancing crypto-assets. NYKS supports holder-controlled selective disclosure through viewing keys and is designed to support a compliance-attestation framework (Part H.8), under which a third-party attestor can certify a holder’s compliance against a defined policy and a crypto-asset service provider can rely on that certificate without accessing the holder’s transaction data, a pathway intended to be compatible with supervised intermediaries’ obligations. However, the attestation framework’s effectiveness depends on the availability of qualified attestors and on CASP acceptance, viewing-key disclosure is voluntary and holder-dependent, and the protocol does not perform automated, network-level transaction monitoring. Accordingly, until such a framework is operational and accepted, AMLR may still limit the willingness or ability of crypto-asset service providers to list, custody, or otherwise support NYKS, which may adversely affect the liquidity, transferability, and availability of a secondary market for NYKS. The regulatory classification and treatment of confidential crypto-assets is evolving and uncertain. No legal opinion on the classification of NYKS under MiCA currently exists; one is in the process of being obtained.
(Required under Art. 6(1)(i) and the related RTS. Proof-of-work networks must disclose energy use and climate impact.)
| Indicator | Value / description |
|---|---|
| J.1 Name of the person drawing up the information | The offeror (identity set out in the notified white paper). |
| J.2 Relevant crypto-asset | NYKS |
| J.3 Consensus mechanism | Nakamoto-style proof-of-work (Tip5 post-quantum hash) |
| J.4 Incentive structure / fees | Block rewards (issuance + transaction fees) to miners |
| J.5 Beginning / end of period to which disclosure relates | The 12-month period following mainnet launch. As the network is pre-launch, this is a forward-looking estimate; exact start and end dates will be confirmed at launch. |
| J.6 Energy consumption (kWh/year) | Approximately 43,800 kWh/year (estimate). |
| J.7 Energy consumption sources & methodologies | Bottom-up, device-based estimate. Assumed network: 10 mining machines (AMD Ryzen Threadripper PRO 7995WX workstations; CPU mining) operating continuously (8,760 hours/year) at approximately 0.5 kW at-wall power each (350 W CPU TDP plus motherboard/PSU overhead). Energy = 10 × 0.5 kW × 8,760 h = 43,800 kWh/year. Mining uses commodity CPUs only, no ASICs and no GPU mining farms. Grid electricity; no on-site generation. |
| J.8 Renewable energy consumption (% of total) | Not separately tracked. Miners’ energy sourcing is assumed to follow the global average electricity mix (on the order of 30% renewable / low-carbon); no renewable-specific sourcing is claimed. |
| J.9 Energy intensity (kWh per transaction / per validated block) | Approximately 0.53 kWh per validated block (target block time ≈ 6.4 minutes / 384 s → approximately 82,125 blocks/year). On an illustrative assumption of approximately 10 transactions per block, this is approximately 0.05 kWh per transaction; the per-transaction figure will be updated with observed mainnet throughput. |
| J.10 Scope 1 / Scope 2 GHG emissions (CO2e) | Scope 1: approximately 0 (no direct on-site fuel combustion). Scope 2: approximately 19.1 tonnes CO2e/year (43,800 kWh × 0.436 kg CO2e/kWh). |
| J.11 GHG intensity | Approximately 0.436 kg CO2e/kWh (global average grid emission factor). On the same illustrative 10-transactions-per-block assumption, approximately 0.023 kg CO2e per transaction (about 23 g); to be updated with observed throughput. |
| J.12 Key energy / GHG calculation assumptions | 10 × AMD Ryzen Threadripper PRO 7995WX miners; approximately 0.5 kW at-wall each (figures are at-wall, so no additional PUE applied); 8,760 operating hours/year (continuous); grid emission factor 0.436 kg CO2e/kWh (global average); target block time ≈ 6.4 minutes (384 s). These are good-faith estimates for an early-stage network and will be refined, potentially via a third-party sustainability assessment (e.g. CCRI), before notification. Transaction throughput is assumed illustratively at approximately 10 transactions per block pending observed mainnet data. |
Mitigating consideration, cryptographic co-benefit of the work function: The Nyks proof-of-work is based on the Tip5 hash function, which is also a core component of the zk-STARK proof generation used throughout the network. Mining therefore creates a direct incentive to optimise Tip5 implementations, and those optimisations improve the efficiency of STARK proving generally, for the network’s cryptographic operations, not only for mining. A portion of the energy expended on consensus thus contributes to advances that lower the cost of the proving used across the system, partially offsetting the energy cost of proof-of-work relative to a work function with no further utility.
Note: This sustainability disclosure is a good-faith, device-based estimate for an early-stage network and will be refined with observed network data; a third-party assessment (e.g. CCRI) may be commissioned before notification.
(Article 6(7): the summary must be short, in non-technical language, and provide key information; it must carry the warning below.)
Warning: This summary should be read as an introduction to the crypto-asset white paper. The prospective holder should base any decision to purchase this crypto-asset on the content of the crypto-asset white paper as a whole and not on the summary alone. The offer to the public of this crypto-asset does not constitute an offer or solicitation to purchase financial instruments, and any such offer or solicitation can be made only by means of a prospectus or other offer documents pursuant to applicable national law. This crypto-asset white paper does not constitute a prospectus as referred to in Regulation (EU) 2017/1129 or any other offer document pursuant to Union or national law.
What is NYKS? NYKS is the native crypto-asset of the Nyks network, a self-developed Layer-1 blockchain offering confidential, post-quantum-secure transactions with holder-controlled selective disclosure (viewing keys) and privacy-preserving compliance attestation. NYKS is used to pay network fees and to reward miners.
Who is the offeror? A newly established private company, founder-led and founder-funded. Full offeror and ownership details are set out in the crypto-asset white paper notified under MiCA and are omitted from this public overview. NYKS is not qualified as a financial instrument, ART or EMT, and does not maintain a stable or asset-pegged value.
Supply: Main schedule capped at 4,200,000 NYKS, a 30% premine (1,260,000) to the development team (vesting over two and five years) and 70% (2,940,000) mined, after which a tail emission continues indefinitely (no absolute cap).
Key risks: NYKS may lose its value in part or in full; it may not be liquid or always transferable; the offeror is newly established; some features are planned / under development; NYKS has no absolute maximum supply (a perpetual tail emission increases supply over time); and as a confidential / privacy-enhancing crypto-asset, regulation (in particular AMLR, from 2027) may materially restrict the ability of intermediaries to list or support it.
Rights: NYKS confers usage of the network only. It does not represent equity, debt, a claim on the offeror, staking, governance or any redemption right.
[● …] fields are entity-specific and must be completed by the offeror with MiCA counsel (applicable law/court, target geographies, audit details, exact roadmap dates).