NymVPN Introduces ZK Payment Method, Including Token Redemption

Nym, a privacy-focused company supported by a16z and other investors, has introduced its zero-knowledge empowered payment system and a perpetual token buyback model.

The decentralized technology provider's DePIN payments system and token buyback are now accessible for public testing. Specifically, NymVPN, which was first unveiled in November 2023, will be commercially available starting March 13, 2025.

Prior to the public release, users will have the chance to evaluate the payment system, as stated by the NymVPN team in an announcement.

Upon launch, subscribers will have the option to pay using fiat currencies such as euros and dollars, or in Bitcoin (BTC). The project also accepts payments made with the native NYM token. All fiat and crypto payments for NymVPN subscription will be converted to the native token NYM, with the perpetual buyback intended to generate a "flywheel" reflecting market demand.

"The introduction of NYM initiated the supply-side of privacy and established a network of over a thousand nodes. Today, we are activating the demand side, enabling regular users to pay in fiat and Bitcoin for NymVPN. Their payment is then converted to NYM token buy-orders to maintain the network's operation," the CEO of Nym explained.

Given the increasing global need for privacy solutions and VPN adoption due to heightened security and censorship, Nym's layer-0 network offers the anonymity and safety users require. Meanwhile, buyback means subscriptions will help create consistent buy pressure for the NYM token.

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NYM, which was launched in 2022, is a token designed to incentivize the Nym ecosystem's mixnet node operators. According to Harry Halpin, the CEO of Nym, the token is crucial to the project's objective of delivering a privacy-centric decentralized network.

The launch of the DePIN payment system and the NYM token repurchases completes the project's crypto-economics "full circle." It allows for the use of NYM in tokenization and rewards, providing further motivation for the community.

"Just like everyone is entitled to clean water and electricity, people deserve secure and private communication," Jaya Brekke, chief strategy officer at Nym, said. "This is not speculative, but a growing real-world necessity. And with the launch of the perpetual buyback mechanism, the token can move from a speculative promise to instead indicate real-world demand."

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