As Echain is shaping up rapidly, it is time to update our Energyfi community on Echain and what has been done so far. But first let’s go back to the root of the Echain’s project.
1/ Why Echain?
Our team has been working for one year now on Energyfi: building bridges, swaps, launchpad, farming pools, intuitive UI and much more.
Throughout the Energyfi constant action we have been able to work on several blockchains. We have realised many things, but most importantly we have realised that it was time for us to stop building for others. We have the knowledge and the workforce necessary to build our own network so why not simply do it?
We believe that Echain will benefit Energyfi as much as Energyfi will benefit Echain. A win-win situation for both entities.
2/ The dawn of Echain
Echain will be a lightning fast, scalable, DeFi-driven and EVM Layer-1 smart contract network focused on energy efficiency and interoperability.
Echain Token ECT is the native utility token of Echain network. ECT will be used to pay transaction fees or any services directly related to the on-chain activity.
3/ Echain: $ECT tokenomics
Regarding the long-awaited tokenomics, we tried our best to make it fair for all, keeping in mind every actor of the network, from investors to validators. Also note that Echain token will launch in an organic manner. An organic launch with a small hardcap that will ensure the initial investors start their Echain journey with a low marketcap but an huge potential.
4/ Few things to know
First of all, Echain development has started already behind the scenes, as we want to stay ahead of our roadmap. Echain website will be online soon.
Seed funding and private sale are completed. In seed funding, we have raised 15 ETH (tokens to be locked up to 12 months). In private sale we have raised 23 ETH (tokens to be locked up to 3 months).
ECT public sale will take place on Energyfi’s launchpad, on the BSC network. All the details of the public sale, including date, price and duration will be communicated in our next Medium article: “Your Echain Journey: letter #2”