How Did the NIL Token Crash Start?

NIL dropped more than 36% during the day, falling to $0.118. The sharp decline began with sudden liquidity spikes and large sell orders appearing on the order books. The Nillion team explained:

• An unauthorized market maker sold a large amount of NIL.
• The individual/entity did not respond to any communication from the team during or after the sale.
• This led to an uncontrolled collapse in price.

This highlights how vulnerable tokens can be to large, unexpected sell orders—especially during low-liquidity market conditions.

Nillion: “We Intervened Immediately and Started a Buyback”

The project announced that, upon detecting the incident, it used treasury funds to initiate an emergency buyback to:

• Stabilize the price
• Reduce the damage caused by the unauthorized sale

Nillion further stated that it is working directly with exchanges, has frozen accounts linked to the sale, and has launched legal proceedings.

Their statement reads:

“Unauthorized activity does occur in the crypto sector, but we will not remain passive. All funds recovered from the unauthorized token sales will be used for further buybacks. We have initiated all necessary legal steps to protect our ecosystem.”

This shows that the team views the incident not only as a technical breach, but also as a major violation of trust and operational discipline.

Current State of NIL

Following the sharp decline:

• NIL is down 3% in 24 hours
• Trading around $0.118
• Down 87% from its all-time high of $0.95

The large gap from its ATH indicates that NIL is facing a challenging period.

A Critical Moment for NIL

The NIL crash was driven by:

• Unauthorized token sales
• Weak market liquidity
• Cascade sell-offs

Nillion’s rapid response — launching buybacks, freezing accounts, and initiating legal action  is aimed at restoring investor confidence. In the short term, volatility is likely to remain high, but the market will be watching closely to see whether the team’s actions stabilize the NIL ecosystem.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post NIL Token Plunges Sharply! Developers Explain the Reason appeared first on Coin Engineer.

What is Nillion (NIL)? What Does It Do?

Nillion is a decentralized data storage and computation network that provides developers with a suite of tools to build powerful, innovative applications. Its modular and flexible architecture leverages the latest cryptographic techniques to not only ensure more secure workflows but also unlock new opportunities.

Early developers in the Nillion community are creating tools in areas such as private predictive AI, secure storage and computation solutions for the healthcare sector, secure storage of sensitive data like credentials, and secure workflows for commercial data.

What is Blind Computation?

When sensitive data is encrypted and stored, traditional methods for performing operations on the data involve decrypting it, processing it, and then re-encrypting it. This “decrypt-process-re-encrypt” cycle exposes the data to the operators of the computation infrastructure. Blind computation allows data to be processed without decrypting it, ensuring that it remains inaccessible to the operators of the computation infrastructure.

Click here to get project’s white-paper.

What are Blind Modules?

Nillion leverages privacy-enhancing technologies (PETs) such as secure multi-party computation (MPC) and homomorphic encryption (HE) to enable blind computation. Each blind module packages one or more PETs in a developer-friendly way, making these capabilities accessible to a broader audience.

What are the Use Cases of Nillion (NIL)?

• Secure Storage: With SecretVault, data can be securely stored through a RESTful interface. Homomorphic encryption and MPC provide decentralized and robust data protection.
• Data Analytics: SecretDataAnalytics supports large-scale analysis on encrypted data using MPC and homomorphic encryption.
• Signing: Nillion Signatures offers distributed signing operations with MPC, without requiring a trusted third party.
• RAG: Integrated with PETs, RAG ensures that data always remains encrypted while utilizing the power of AI.

Nillion Network Architecture

The Nillion Network consists of two main components:

• Petnet: Ensures data is stored and processed using privacy-enhancing technologies (PETs) while remaining encrypted.
• nilChain: Manages payments and incentivizes network participation

Petnet

• Developers can cluster nodes according to their chosen PET.
• Offers secure data storage and processing capabilities.
• Interactions with nodes can be made through SDKs.
• Runs PETs using Blind Modules.

nilChain

• A blockchain built on the Cosmos SDK.
• Manages rewards, economic collateral, and governance.
• Provides cluster coordination, but does not offer a smart contract execution environment.

What Can You Do with Nillion?

• Create encrypted databases and run secure queries.
• Perform digital signing operations without sharing private keys.
• Run AI models in a secure environment to protect your data.
• Manage data analysis and processing securely and in a decentralized manner.

Click here to get project’s X account.

Nillion (NIL) Tokenomics

$NIL is the native token of the Nillion network and plays a central role in the network’s security, governance, and long-term objectives. The core functions of the $NIL token include:

• Coordination Services:
  $NIL is used to access network resources, perform transactions, and settle usage fees across the network.

• Blind Computation:
  Developers and users leverage $NIL to access privacy-preserving storage and computation services for their applications.

• Staking:
  Token holders stake $NIL to support network security and earn rewards. Validators bond their tokens to validate transactions and computations to secure the network.

• Governance:
  $NIL token holders are eligible to participate in decentralized governance, proposing and voting on critical network decisions. This includes protocol upgrades, network parameters, resource allocation, and community grant initiatives.

The $NIL token contributes to the long-term growth and security of the Nillion network, enabling participants to make important decisions regarding the network’s future.

$NIL Distribution Allocation

The total supply of $NIL will be 1,000,000,000 at genesis, with an initial circulating supply of 19.52%. $NIL will be distributed across the following categories:

• Ecosystem and R&D (29%): Used to support ecosystem growth, including developer and builder grants, validator incentives, and network expansion efforts.
• Community (20%): Allocated to the community and users through incentive programs, grants, and other initiatives.
• Protocol Development (10%): Reserved for ongoing research, protocol development, and funding operations to ensure the network’s long-term growth and sustainability.
• Early Backers (21%): Allocated to token buyers in the Pre-Seed, Seed, and 2024 fundraising rounds.
• Core Contributors (20%): Allocated to early team members and advisors for their contributions to the network’s development.

NIL Distribution Schedule

Initially, $NIL tokens will be distributed and unlocked through airdrop and community round participants.

Nillion Founding Team

Nillion was co-founded by Andrew Masanto, Miguel de Vega, Alexander Page, and Andrew Yeoh.

Andrew Masanto, co-founder of Hedera Hashgraph, met Dr. Miguel de Vega in 2018. In 2022, Dr. de Vega shared an innovation breakthrough related to securing private data. Andrew invited his long-time friends and former investment bankers, Alexander Page and Andrew Yeoh, to shape the technology into what is now the Nillion protocol.

The project has attracted leading tech experts, including Uber’s Founding Engineer Conrad Whelan, Indiegogo’s Founder Slava Rubin, Coinbase General Counsel Lindsay Danas Cohen, Nike’s Head of Innovation Partnerships Mark McDermott, and several other high-profile team members and advisors.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post What is Nillion (NIL)? What Does it Do? appeared first on Coin Engineer.

Binance Introduces the Nillion (NIL) Project!

Binance has announced its 65th project on Binance Launchpool, Nillion (NIL), a decentralized network powered by blind computing technology that ensures secure data processing and storage while maintaining privacy. The project’s webpage is expected to be available in approximately 12 hours, ahead of the Launchpool start.

Users will be able to lock their BNB, FDUSD, and USDC to receive NIL airdrops over three days. The farming period will begin on 2025-03-21 at 00:00 (UTC).

When Will the Listing Take Place?

Binance will list NIL on 2025-03-24 at 13:00 (UTC), with trading available in the following pairs: NIL/USDT, NIL/BNB, NIL/FDUSD, NIL/USDC, and NIL/TRY. The NIL token will have the “seed” tag applied.

NIL Launchpool Details:

• Token Name: Nillion (NIL)
• Total Token Supply: 1,000,000,000 NIL
• Maximum Token Supply: Unlimited (1% annual inflation, based on emission type and determined by governance)
• Launchpool Token Rewards: 35,000,000 NIL (3.5% of total token supply)
• Additional NIL Allocation 6 months post-spot listing: 25,000,000 NIL
• Initial Circulating Supply at Listing on Binance: 195,150,000 NIL (19.52% of total supply)
• Smart Contract / Network Details: Nillion Main Explorer (to be accessible at public launch)

Launchpool terms will apply, and users must complete account verification (KYC) as per Binance’s requirements.

Click Here to Register for Binance with a 20% Commission Discount!

Hourly Hard Cap per User:

• 38,888 NIL in the BNB pool
• 4,861 NIL in the FDUSD pool
• 4,861 NIL in the USDC pool

Supported Pools:

• Lock BNB (webpage will be available in approximately 12 hours): 28,000,000 NIL in rewards (80%)
• Lock FDUSD (webpage will be available in approximately 12 hours): 3,500,000 NIL in rewards (10%)
• Lock USDC (webpage will be available in approximately 12 hours): 3,500,000 NIL in rewards (10%)

Farming Period: 2025-03-21 00:00 (UTC) to 2025-03-23 23:59 (UTC)

NIL Farming Distribution:

Dates (00:00:00 – 23:59:59 UTC Each Day):

• Total Daily Rewards: 11,666,666 NIL
• BNB Pool Daily Rewards: 9,333,333 NIL
• FDUSD Pool Daily Rewards: 1,166,666 NIL
• USDC Pool Daily Rewards: 1,166,666 NIL

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.

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