Question 1

What is Noku Master Token v1 (NOKUV1)?

Accepted Answer

Noku Master Token v1 (NOKUV1) is the original version of the Noku Master Token, operating as an ERC-20 token on the Ethereum blockchain. It served as the first iteration of the utility token within the Noku ecosystem. Similar to its successor, NOKUV1 was used to access Noku's blockchain services, such as token creation and white-label wallet solutions. This version laid the groundwork for the updated NOKU token, which aimed to expand the token's functionality and streamline its role within the Noku platform.

Question 2

What is Noku Master Token v1 (NOKUV1) used for?

Accepted Answer

NOKUV1 was used as a payment method for Noku’s blockchain services, including the creation of custom tokens and white-label wallets. These services could only be accessed by paying fees with NOKUV1, which were subsequently removed from circulation. The token facilitated the liquidity needs within Noku's internal platform and supported the early adoption of Noku’s ecosystem of decentralised applications (dApps) and services.