Nym (NYM) 2024 年第 3 季度启动覆盖：NymVPN 公开测试版的推出标志着隐私 DePIN 协议的里程碑式季度

Nym (NYM) 是一种开源、激励式、去中心化的物理基础设施 (DePIN) 协议，可保护任何应用程序、钱包或数字服务的网络级别的隐私。作为混合网络，Nym 可防止流量模式分析和元数据监视。

Key Insights

主要见解

Nym (NYM) is an open-source, modular, and decentralized physical infrastructure (DePIN) protocol that enhances privacy at the network level for any application, wallet, or digital service. As a mixnet, Nym protects against traffic pattern analysis and metadata surveillance.

Nym (NYM) 是一种开源、模块化和去中心化物理基础设施 (DePIN) 协议，可增强任何应用程序、钱包或数字服务的网络级别的隐私性。作为混合网络，Nym 可防止流量模式分析和元数据监视。

Nym exists as a tool to facilitate private end-to-end internet communication between any application. As such, it is not exclusive to blockchain-related activities. However, the Nym mixnet is closely linked to the NYM token, which runs on the Nyx Cosmos-based appchain to enable permissionless ‘bonding’ of new mix nodes to the Nym network and to pay for mixnet services.

Nym 作为一种工具来促进任何应用程序之间的私有端到端互联网通信。因此，它并不专属于区块链相关活动。然而，Nym mixnet 与 NYM 代币紧密相连，NYM 代币在基于 Nyx Cosmos 的应用链上运行，以实现新 mix 节点无需许可的“绑定”到 Nym 网络并支付 mixnet 服务费用。

The NYM utility token serves the following functions for the Nym mixnet and the underlying Appchain:

NYM 实用代币为 Nym mixnet 和底层应用链提供以下功能：

In Q3’24, NYM’s price further declined 42.9% QoQ to $0.08 after a previous 46% QoQ decline in Q2’24, both in line with the broader market contraction in the quarter. The market cap also dropped 37% QoQ, closing at $63.2 million.

在 2024 年第 2 季度环比下跌 46% 后，2024 年第 3 季度，NYM 价格进一步环比下跌 42.9% 至 0.08 美元，两者与该季度大盘收缩一致。市值也环比下降 37%，收于 6,320 万美元。

NYM was originally distributed as both a native Cosmos ICS-20 token and an ERC-20 token, bridged to Ethereum via Gravity Bridge for Coinlist users. By the end of Q3, the ERC-20 NYM supply stood at 116 million, or 14.4% of the total 803 million circulating supply, up from 13.3% in the previous quarter. This suggests decreased adoption into the native mixnet ecosystem.

NYM 最初作为原生 Cosmos ICS-20 代币和 ERC-20 代币进行分发，通过 Gravity Bridge 为 Coinlist 用户桥接到以太坊。截至第三季度末，ERC-20 NYM 供应量为 1.16 亿枚，占总流通量 8.03 亿枚的 14.4%，高于上一季度的 13.3%。这表明原生 mixnet 生态系统的采用率有所下降。

In Q3, Nym Technologies released an NYM Swapper app that allows the exchange of NYM tokens between the native Cosmos-based app chain and Ethereum’s ERC-20 tokens via MetaMask and Keplr wallets. This tool simplifies the bridging process and allows users to easily stake tokens on Nym nodes for rewards and manage delegations across the two blockchain ecosystems.

在第三季度，Nym Technologies 发布了 NYM Swapper 应用程序，允许通过 MetaMask 和 Keplr 钱包在基于 Cosmos 的本机应用链和以太坊的 ERC-20 代币之间交换 NYM 代币。该工具简化了桥接过程，让用户可以轻松地将代币质押在 Nym 节点上以获得奖励，并管理两个区块链生态系统中的委托。

The protocol incentivizes operators (who run Nym Nodes or Nyx validator nodes) and delegators with Nym rewards to bootstrap the network and incentivize security. Total rewards denominated in NYM decreased by 1.3% QoQ, while rewards denominated in USD decreased by 46.4% QoQ due to the NYM token’s price depreciation. Reward distribution decreased from a 12-month high of 2.36 million NYM in September 2023 to 2.06 million NYM in September 2024. This decrease would be expected as the network moves towards commercial adoption and becomes self-sufficient in incentivizing Operators and Delegators without the need for rewards.

该协议通过 Nym 奖励来激励运营商（运行 Nym 节点或 Nyx 验证器节点）和委托人来引导网络并激励安全性。以 NYM 计价的总奖励环比下降 1.3%，而由于 NYM 代币价格贬值，以美元计价的奖励环比下降 46.4%。奖励分配从 2023 年 9 月的 12 个月高点 236 万 NYM 下降到 2024 年 9 月的 206 万 NYM。随着网络走向商业采用并在激励运营商和委托人方面变得自给自足，而不需要奖励。

Operators were awarded approximately 13% of overall fees in Q3 2024, while delegators received the remaining 87%. This marks a shift from Q2 2024, where delegators received 91% of rewards and operators received 9%. In Q3, delegators earned $515,500, while operators received over $73,700. This change in rewards distribution is due to new parameter adjustments introduced in September 2024, which affected node operator costs and profit margins. The goal was to prevent a potential "race to the bottom" in operator profit margins and to control any unchecked increase in operator costs. This parameter change sets the following ranges:

2024 年第三季度，运营商获得了约 13% 的总费用，而委托人则获得了剩余的 87%。这标志着与 2024 年第二季度的转变，当时委托人获得了 91% 的奖励，运营商获得了 9%。第三季度，委托人收入为 515,500 美元，而运营商收入超过 73,700 美元。奖励分配的这一变化是由于 2024 年 9 月引入的新参数调整影响了节点运营商成本和利润率。其目标是防止运营商利润率出现潜在的“逐底竞争”，并控制运营商成本的任何不受控制的增加。此参数更改设置以下范围：

Following a community vote in Q2’24, the above parameter changes were implemented through the Caramello release in September 2024. According to an official post by the project team, since the implementation of the above changes:

经过 2024 年第 2 季度的社区投票后，上述参数更改已通过 2024 年 9 月的 Caramello 版本实施。根据项目团队的官方帖子，自上述更改实施以来：

In the coming months, Nym plans to introduce further changes to NYM tokenomics and staking reward parameters, incorporating feedback from the node operator community. A detailed roadmap for these updates will be presented during the Nym node town hall in October 2024.

在接下来的几个月中，Nym 计划结合节点运营商社区的反馈，对 NYM 代币经济和质押奖励参数进行进一步的更改。这些更新的详细路线图将于 2024 年 10 月在 Nym 节点市政厅期间公布。

In Q3’24, the total number of packets received increased by 118%, reaching over 1 million. Since all packets are uniform in size, network traffic is measured by the total packet count. However, due to dynamic cover traffic, individual user activity remains untraceable from overall packet data.

24 年第三季度，收到的数据包总数增长了 118%，达到超过 100 万个。由于所有数据包的大小都是统一的，因此网络流量是通过数据包总数来衡量的。然而，由于动态覆盖流量，单个用户的活动仍然无法从整体数据包数据中追踪到。

In Q2, a series of stress tests were conducted to push heavy traffic through the network and identify error messages and their sources. The first test took place on March 20, 2024, and the third concluded on April 9, 2024. Despite involving over 340 nodes, there were no significant increases in packet volume or other metrics during the tests. Most growth occurred later in Q2 and in Q3, following the beta release of NymVPN which drove substantial packet traffic to the network. The absence of packet loss or node dropouts indicates the network remained stable and experienced no

在第二季度，进行了一系列压力测试，以推动网络中的大量流量并识别错误消息及其来源。第一次测试于2024年3月20日进行，第三次测试于2024年4月9日结束。尽管涉及超过340个节点，但测试期间数据包量或其他指标没有显着增加。大多数增长发生在第二季度末和第三季度，继 NymVPN 测试版发布后，该测试版为网络带来了大量数据包流量。没有出现丢包或节点掉线的情况，表明网络保持稳定，没有出现任何问题。