Nimiq Price

Origins and Key Contributors

Nimiq was co-founded in 2017 by Elion Chin and Philipp von Styp-Rekowsky, two Silicon Valley entrepreneurs with backgrounds in engineering and blockchain development. A third co-founder, Robin Linus, played a pivotal role in the project’s early stages but departed in 2019 due to disagreements over its strategic direction. Despite this internal conflict, the remaining team expanded to include 18 members specializing in protocol design, community engagement, and ecosystem development.

Funding and Initial Coin Offering (ICO)

The project raised $10 million during its 2017 ICO through the sale of NET tokens, ERC-20 placeholders later swapped for NIM upon the mainnet launch in April 2018. Funds from the ICO were allocated to protocol development, marketing, and partnerships, with a portion reserved for the Nimiq Foundation to support long-term growth. Notably, the team adopted a transparent vesting schedule for foundation-held tokens, releasing 1/20th of the total every six months over a decade to prevent market flooding.