Welcome to EasyEarnToken (EET)
EasyEarnToken (EET) is a DeFi crypto experiment.
In the recent months passive yield generation has taken the DeFi space by storm. Whether farming, staking or a combination thereof, people have been investing and passively earning income without too much effort.
The space however is accelerating and so are people’s needs. Now that passive yield generation is a firmly established and lucrative concept, people also want ease of use. While farming and staking work fine, it begs the question, can we do better?
Yes we can!
EasyEarnToken simplifies passive yield generation by not requiring farming or staking: you earn by simply holding the token in your wallet. It achieves this by introducing a tax on all transactions, that is instantly distributed to all holders of the token proportionally. What’s more, you don’t need to claim the earnings, they just get added automatically to your wallet’s balance, thereby saving you gas costs.
Individual Epoch Locking
The above mechanics are not new: tokens like RFI introduced them and many subsequent projects had different takes on them. By analyzing these projects we reached an unescapable conclusion: they each have the same problem, after an initial price climb an inevitable sell-off ensues as investors take profits and move on to the next one.
EET challenges this by introducing the concept of Epochs: an Epoch is simply a predefined amount of time for which your tokens are locked in the EET smart contract and cannot be sold. They still collect tax and thereby passive yield for you during this time. However, until the Epoch is finished, they cannot be sold. They also cannot be transferred to another wallet.
This concept again, is not new: tokens like Saffron introduced it successfully. However, Epoch locking has its own problem: as the Epoch ends investors’ funds are unlocked and usually a mass sell-off occurs. To mitigate this EET introduces individual Epoch locking: this means that each investor’s tokens are locked for an Epoch duration (3 days) that depends only on the buy-in time.
Let’s take an example:
- John buys 100 EET today at 1 o’clock: this marks the start of John’s individual Epoch. He will only be able to sell in 3 days after 1 o’clock.
- Mary buys 100 EET today at 3 o’clock: this marks the start of Mary’s individual Epoch. She will only be able to sell in 3 days after 3 o’clock.
By “staggering” the Epochs individually, EET aims to mitigate mass sell-offs. By preventing any sells during the epoch, EET aims to provide continuous buy pressure which increases EETs price. Also, during the Epoch, taxes are still collected and automatically added to holders accounts.
This means that:
- you buy
- you wait at least 3 days while your wallet ballance goes up due to accrued taxes: EasyEarn!
- you can sell or keep holding
Once an individual Epoch starts for a wallet, subsequent buys from the same wallet DO affect its end time, specifically each new buy will calculate the epoch end time for that wallet anew. This means if you buy 100 EET, which sets your epoch end time in 3 days, then e.g. tomorrow buy 100 EET more, your new epoch end time will be in 4 days from the first buy.
This mechanic exists because otherwise when your epoch ends and selling is unlocked, it would be unfair to new buyers if you would get a full unlock. So basically you get a partial unlock: you can sell tokens, the entire balance or in increments, but once you buy more, the epoch resets. This basically puts all buyers on equal footing.
Epochs and market cycles
It begs the question, when the epoch of the first buyers ends and their funds are unlocked for selling, will it cause a sell-off? Maybe, even likely. But, this will seed the new market cycle, by allowing new buyers to hop on the train. Also, existing buyers might probably not want to not sell the entire balance, but only a part, as usually market cycles reach higher highs every time.
In effect, the epoch mechanism models market cycles at 3 days intervals.
- EET total supply: 10.000.000 EET
- Per-transaction fee: 3% buy, 6% sell
- No burn
To bootstrap EET with sufficient initial liquidity we aim to raise 200 ETH through a pre-sale event:
- 1 ETH min / 3 ETH max buy, 1 ETH = 25.000 EET
- Liquidity added at launch: 160 ETH + 4.000.000 EET, 1 ETH = 25.000 EET (same price as presale)
- Team fund: 40 ETH +1.000.000 EET (out of which 400.000 team, 600.000 marketing)
This means the presale has no price advantage over launch, which is done intentionally to launch fairly. The presale participants have however the advantage of price guarantee avoiding gas wars.
The individual epoch mechanism also effectively nullifies the possibility of bots being involved.
All presale tokens are subject to the same individual epoch mechanism as they were market bought. The individual epochs start at token distribution time.
To join the presale and inquire about further details please join our telegram channel:
EET is a high risk DeFi experiment. Only invest funds that you can afford to lose.
EET is intended as a store of value, with holders earning passive income from transaction fees. Although further development is a possibility, EET in its first iteration is designed as a standalone project.