Updated Tokenomics of EARN after Swapping to BSC
Mar 23, 2021
TOKENOMICS OF EARN
The tokens on BSC and ETH will be subject to burn and will be minted on new chains upon launch on EGLD, IOST, NEO and Cardano. Users can transfer their tokens to any of the chains dependent upon individual requirements. Existing token holders on any of the chains will not be affected with this process.
TOKEN RELEASE SCHEDULE:
There is no specific date as of yet for the token release. The Yield Farming Rewards, EARNSWAP Rewards (Partnerships), Staking Rewards, earNFT Rewards will be released for participants after product launch.
10700 $EARN tokens are locked until product launch.
These tokens are dissipated to various participants including stakers, designers of NFT for earNFT, governance participants and community members contributing to the project.
1050 $EARN team tokens will be locked until the launch of products. These tokens allocated for marketing and the community are not fully under circulation but can be expected to be rewarded to various airdrops and marketing promotions at any point of time.
What is $EARN Token?
$EARN will be the main token that will be powering the whole Yearn Classic Finance ecosystem that includes yield farming, staking and NFT products such as Vaults, EARNSWAP, earNFT and upcoming features of Yearn Classic Finance.
Where can I buy $EARN?
The $EARN token can currently be purchased on the Hotbit.io and Indoex.io exchange, with further plans to be available on other exchanges.
How many $EARN are there?
A total of 21000 EARN tokens will be in circulation at any point of time, combining all the chains on which it is present. Currently EARN is moved from Ethereum (ETH) to Binance Smart Chain (BSC) due to heavy congestion and high gas fees. The team have further planned with the product to launch on Elrond (EGLD), Internet of Services Token (IOST), NEO 3.0(NEO) and Cardano (ADA).
Will there be any increase in token supply with the launch on different platforms?
The total supply of $EARN will remain at 21000, no matter how many chains the token is available on. If users wish to migrate chains, then tokens will be issued on the new chain after burning on the existing chain that they wish to migrate from.
Where can I stake my $EARN?
Users will be able to stake $EARN tokens on EARN Vaults on the EARN platform once launched.
Where can I swap $EARN tokens?
Users will be able to swap $EARN tokens on the EARNSWAP platform, which will launch after code reviews and audits.
The team will disrupt the DeFi 2.0 space with EARN as the first platform in the DeFi space with EARN powered product vaults, EARNSWAP, earNFT and Governance on Multi Chain Ethereum (ETH), Binance Smart Chain (BSC), Elrond (EGLD), Internet of Services Token (IOST), NEO 3.0(NEO) and Cardano (ADA).
The potential impact of EARN has never been greater. With EARN as a cross chain interoperable DeFi ecosystem, the team will bring various network participants (developers, consumers, service providers, designers, etc) all under one roof.