Distribution
The Etherice native token, ETR, is the token minted daily for our auctions that users bid on and then stake for ETH dividends on our platform.
The ETR token was developed with a logarithmic minting system, meaning that a decreasing amount of tokens are minted each day, which allows for better management of supply in the long term as auctions continue.
On launch day, 3 million tokens are minted for auction. Each day after that, the previous days token supply is minted again - minus 3% and put up for the daily auction.
The only other tokens that will be minted are bonus referral tokens, which are only minted after a user who has bought ETR & staked it - unlocks their stake.
ETR Tokens can not be sold on a swap, meaning there is never a sudden decrease in value because of ‘chart dumping’. Users who don’t stake won’t receive Ethereum dividends, so excess ETR tokens that are not being staked - do not negatively impact users who are actively staking.
We also manage our ETR token supply with Buyback & Burns, where we use ETH funds from our designated BuyBack wallet to purchase ETR tokens in our auctions. The ETH we used to buy ETR will then be distributed to stakers on our platform as dividends, we send our purchased ETR tokens to a burn wallet - so we never affect our users rewards.
Each day new tokens are minted and sold in our daily auction. After each auction day ends, users can claim their allocated ETR tokens from the 'Auctions' page in the dApp.
3 million tokens are minted and put available for auction.
The previous day's amount of minted tokens are minted again minus 3% and put up for that day's token auction.
- 1.On day 1, 3 million tokens are minted.
- 2.On day 2, day 1's supply is minted again, minus 3% (3 million - 3% = 2,910,000 tokens minted on day 2)
- 3.On day 3, day 2's supply is minted again, minus 3% (2,910,000 - 3% = 2,822,700 tokens minted on day 3)
- 4.This continues daily with the Token Supply being reduced by 3% from the previous days Token Supply.
Last modified 5mo ago