In short, the answer is 'You' - it's you, your friends and their friends and eventually billions of users
It's the network of users that gives value to any payment network, so as we grow to millions of users Ecoins’ value will skyrocket.
There are many reasons why Ecoin will be very valuable soon.
The first and foremost is this, Ecoin makes user onboarding extremely easy. Anyone with an email & phone now can simply sign up, earn and use cryptocurrency for the first time, which essentially opens the floodgates for mass adoption
Most online businesses today are reluctant to accept cryptocurrencies like bitcoin ( even though cryptocurrencies have enormous benefits for businesses ) because only 1% of their user base uses bitcoin at the best. With Ecoin however, anyone can be served by online businesses. Multi billion-dollar businesses like e-commerce, e-sports, online casinos, sport betting sites etc can serve anyone in the globe very soon.
Finally, there are two more big reasons.
‘Network effect’ - As more people sign up, the value of Ecoin rises more. The more valuable ecoin is, more people will sign up.
‘Endowment effect‘ - People value cryptos they hold much more than the ones they don’t. For crypto you hold, you will probably be worried about its price and will make sure the price keeps rising by supporting it in every way possible.
Cryptocurrency is a world-changing concept that will give real freedom to people to conduct their financial lives in the manner they chose to, for this reason, cryptocurrency is often hailed as the greatest revolution in modern history. However the adoption of cryptocurrency is pretty slow, and the reason arguably is its distribution model.
The biggest reasons for lack of adoption are these
Ecoin aims to remove these barriers and make cryptocurrency available to everyone with an email which will truly unleash the true potential of cryptocurrency.
Once Ecoin crosses 100 million users, it’s practically impossible to stop Ecoin’ growth
The distribution model of Ecoin is really really unique. Before Ecoin, came along,
one person with more resources ( hardware or money ) etc would end up accumulating a ton of crypto creating huge concentration. With ecoin however, that’s simply impossible,
the only way to acquire new currency is to invite others which distributes the currency far and wide.
This unique distribution model also gives ecoin its greatest advantage - the lowest cost per user acquisition in the crypto industry. While coins like Stellar spend approximately $40 for acquiring one user, ecoin can do it at $1 or less, which implies ecoin distribution model is at least 40x more efficient.
Reach is the most important metric of a crypto’s value, the larger the network the more valuable the network is. As more people join the network, the value of ecoin rises higher and as the value of ecoin goes higher more people join, this becomes a powerful cycle that can grow to billion-plus users in very little time.
Ecoin is a token based on TELOS blockchain which can run as many as 5000 Tx per sec which is about 800 times faster than Bitcoin which means transactions on Ecoin are not only cheaper but also near-instant.
Ecoin has a supply of about 1 trillion coins of which 500 billion are locked in a smart contract which are released by about 50 billion every 6 months. The remaining 500 billion will be distributed to users who sign up on our platform.
Ecoin is given completely free of cost for everyone with an email. You earn 200 Ecoins (previously 1000) when you sign up with a verified email and you earn additional 200 Ecoins (previously 1000) when you refer someone with a verified email. There is no limit number of people you can refer. So the more you refer the more you earn.
Apart from referring others, you earn additional Ecoin by locking your ecoin in the savings account which gives interest monthly.
You can also accumulate more Ecoin by buying it from others.
Apart from there are additional surprise gifts when you refer more and more people. Overall we aim to incentivize people to refer their friends and achieve real mass adoption.
Earning Ecoin is easy and fun and you can earn ecoins in 8 different ways.
We have built the world’s first AI driven identity platform that ensures one person can claim free ecoin only once
The exact verification mechanism is proprietary and revealing it defeats the purpose of stopping fraudsters, however our advanced fraud detection system ensures one person can claim free ecoin only once and not create 100s of emails and claim many times.
We have been running this airdrop for over 6 months and if someone is able to crack it the price of ecoin would be zero by now.
Having said that, please feel free to test our platform by entering your primary emails and any fake emails you create.
This method has the simplest user experience in the entire crypto airdrops that happened so far, this radically easier onboarding experience will enable the “world’s 99.9% of the internet population to try crypto for the first time”.
We can onboard 90% of the internet-using population with our airdrop strategy which is the order of 2-3 billion users.
In order to prevent people from dumping the free coins they get, we have created ‘savings accounts’ which will give a strong incentive for people to hold the coins they get for free and not dump them on the market.
The tokens in savings balance gives you a 2% interest every month.
Currently, the basic interest for any amount is about 2% so a person with 70,000 coins would earn 2% interest.
Transfer: you can transfer your current account to any registered user in the system completely free of charge
Withdrawal: you can withdraw your coins from your current account to an external TELOS account address,however you need to withdraw a minimum of 1000 ecoins.
Please note that you can’t withdraw or transfer money from your savings account as it’s under a monthly freeze. You should transfer your coins to current account first.
Ecoin aims to utilize a wide network of various airdrop sites, youtube channels, twitter accounts and telegram groups. We predict we can sign up 1 million through this route.
We also expect users to refer their friends by emailing and whatsapping their contacts as they will be rewarded by additional ecoin for doing so.
For the next phase of growth, we will be listing on crypto influencer channels and review sites.
We also aim to onboard 100s of millions of users by signup-less onboarding with various merchant partnerships.
Sign up-less onboarding can help users’ experience crypto and pay in crypto to online merchants and websites without users even having an ecoin account.
Participating sites can simply check if users’ email is eligible for Ecoins’ airdrop through our API and inform the user of the discount should they decide to join ecoin, Users will then receive an OTP code that they can enter to get an equivalent discount of 1000 ecoins that we offer users for signing up.
This strategy not only helps ecoin acquire millions of users but also enables merchants to offer crypto payment services to nearly all of their users ( which will finally solve the crypto’s chicken-and-egg problem ).
‘Facebook acquired whatsapp for a whopping $19 billion primarily because it had 500 million users using it, the underlying software can be created in a couple of clicks from github today’
Metcalfe’s law, The most useful principle for measuring value of internet companies states that the value of networks grows as a square of its user base.
Ecoin is only the coin that is absolutely focused on mass adoption and we have the right strategy for that. As you know, over 95% of Ecoin emission is done primarily through signing up of new users. Traditionally more coins in circulation meant lesser prices, however in the case of Ecoin more coins in the circulation implies more users using the network.
Hence, the value of Ecoin network grows proportional to the square of its user base while the coin circulation only grows linearly, which implies the value of Ecoin token actually goes up with more users in the network.
Ecoin is the first coin that is poised to cross billion users owing to the world’s simplest crypto onboarding experience.
Sign-up price discovery is a unique feature of ecoin which helps in understanding the true cost of airdrop necessary to sign-up users.
Price is always determined by supply-demand. Investor interest creates demand whereas airdrop process ( new users signing up ) creates supply as there is no ICO happening currently.
Given the fact that Ecoins can only be earned through signup /referral process and the onboarding process for ecoin extremely easy, we will have market-driven cost of signing up new users into crypto.
As the price rises however we can use this information in a very useful way. Once we know the airdrop cost to entice US users ( say $5 ), we will limit the number of coins given through airdrop instead of the usual 1000 which ensures there is no excess ecoins on market and yet the growth doesn't slow down.
Airdrops are the easiest way to reach people, but many times people simply sell the airdrop token and cash out for Bitcoin or Eth.
There are two main reasons for this
Now in case of Ecoin, both of these issues are addressed right from the inception.
We are in very interesting times in terms of cryptocurrency investing, as you know, many governments have come up with strict rules in terms of investing in ICOs which effectively killed the ICO market. Instead of doing an ICO right in the beginning and getting investors nervous about potential scams we thought it's only fair to show our worth in a real way.
We however enable investors to buy the coins directly from users ( who earn it from the airdrop) through exchanges where Ecoin is listed.
This approach has few powerful advantages:
90% of total supply will be given for airdrops and other marketing activities, of the remaining 10% will be allocated 1for founding team, however we will be time-locking these coins to 1-2 years to prevent price dumps and have them released in a timely manner.
Jan 2020 – Launch
Feb 2020 - 1 million users,
Aug 2020 - 3 million users,
Dec 2020 – 4 million users,
Feb 2021 – 5 million users,
Aug 2021 – 7.5 million users
Dec 2021 – 10 million users
Aug 2022 – 25 million users