It’s undeniable, Decentralized Finance has taken the cryptocurrency space by storm in 2020. At its core, the initiative is to open traditional financial services to everyone, providing decentralized financial services based on blockchain infrastructure. One of the new concepts that has emerged is yield farming, and you will have likely heard all about this in the cryptocurrency space, tendies, lendies, pickles and sushi’s, but what does it all really mean?
What is Emporium.Finance?
Emporium.Finance is a next-generation liquidity mining program that is running for 8 weeks starting 26/11/2020. This platform allows ‘Yield Farmers’ to earn rewards with their cryptocurrency holdings using permisionless liquidity protocols.
Emporium.Finance has 9 specifically chosen liquidity pools, these are basically smart contracts that contain funds. In return for users providing liquidity to a pool, they get rewards. These rewards come in the form of ERC20 tokens and CEFI tokens. In simple terms, it means locking up cryptocurrencies and gaining rewards.
But what makes Emporium.Finance different?
No Pre-Sale of Private Sale
Determined to run a fair launch, Emporium.Finance has offered no Pre-Sale or Private Sale to investors. There are only 4 ways to get your hands on the CEFI token; Providing Liquidity through our LP Program, Receive ‘cashback’ for purchasing products on the Emporium.Finance landing page, Referring friends to the Emporium.Finance platform or participating in our Bounty Program and Airdrop.
Linear Weekly Emission Schedule
Throughout the 8 weeks of the Liquidity Mining Program, Emporium.Finance will make available just 150,960 CEFI tokens of their total supply of 888,000. This amount will be split up and distributed weekly in the following amounts.
LP Program — 12,580 per/week
Team & Development — 3,774 per/week
Bounty Allocation — 17,760 total
Cashback Allocation — 17,760 total
High Yield Interest Bearing Liquidity Pools
The 9 liquidity pools available through the Emporium.Finance mining dashboard have been specifically chosen to give users the most profitable and reliable rewards. These interest bearing pools are already incentivised and well established and give participants the best chance of high APY yields.
No Team/Development Tokens Pre-Mined
The recent SushiSwap scandal is a good example of the dreaded “rug pull”, this is where a projects owners or developers dump their tokens on unsuspecting participants. This incident caused the value of the token to decline by more than 50%.
With Emporium.Finance, Team + Development tokens are only created on a weekly emission schedule as users provide liquidity. Amounting to just 3% of the total supply, this means it would be impossible for founders and developers to dump tokens as they are vested for a period of time to enhance innovation and development of the platform.
Market Driven Price
A benefit of not running a pre-sale or private-sale event, means Emporium.Finance allows the market to decide the price of the token. Many projects that launch tokens, value their token from day 1 at an unrealistic price point, leading to inevitable decline as investors and participants realise the falling value.
Working Product since February 2018
One huge benefit of Emporium.Finance is that it was developed and launched by Crypto Emporium. An online cryptocurrency-only e-commerce store that has been serving the cryptocurrency space since February 2018.
This demonstrates that the Crypto Emporium team knows what it takes to succeed in the cryptocurrency space, operating a complete working product and proof of concept for nearly 3 years. Emporium.Finance is just the precursor to a much grander vision, one that has been in research and development since day 1.
Utility for CEFI Token from Day 1
A pitfall of many tokens and cryptocurrencies in the market today, are that they have no real-world uses or utility. They have no clear path to adoption. This is something that the CEFI token demonstrably opposes.
The CEFI token will be the cornerstone of the Peer-to-Peer Marketplace and Community Governance Rewards Program.
But what about after the 8 weeks?
The Emporium.Finance Liquidity Mining Platform is just the Pre-Launch event, a way to build an engaged community and reward them for their confidence and loyalty. Decentralized Finance has allowed us to distribute our CEFI token to a large number of people. The main goal, is the development and launch of a Decentralized Peer-to-Peer Marketplace and Community Governance Rewards Program.
A key part of the Crypto Emporium ecosystem is the Community Governance Rewards Program, this is a Loyalty Rewards and Governance system rolled into one. A web 3.0 application that serves a number of purposes within the project;
Community Governance
Not just a ‘Governance Token’, but holders of CEFI will be eligible to stake tokens as tickets to vote on key business decisions and marketing initiatives within Crypto Emporium. It’s a first of its kind governance model that gives community members an important say in the direction of the business but also an active role in community management.
Buying + Selling Activity Rewarded Weekly
Following a similar weekly emission schedule to the Pre-Launch Liquidity Mining Platform, Crypto Emporium has allocated 2,126.08 CEFI tokens per week to be distributed to the most active and engaged participants of their Peer-to-Peer Marketplace.
Cashback Rewards on Sponsored Products and Categories
As voted for by community members each week, Crypto Emporium has allocated 815 CEFI tokens each week to be offered as ‘Cashback’ to incentivise purchases on the platform. This innovative system will seek to drive sales and reward buying activity.
Dispute Management
Holders of CEFI and trusted members of the community will be able to act as a jury when transaction disputes arise. Participants will be expected to review all available information regarding the dispute and come to a resolution in favour of buyer or seller. Reserved for only the most trusted and loyal members of the community, participants that reach this level will be eligible for extra rewards both monetary and non-monetary.
Affiliate Program
The power and efficacy of a well conducted Affiliate Program is clear to see, many industries rely heavily on them and we see no reason that it cannot be applied to a Peer-to-Peer Marketplace to great effect. With 354.35 CEFI tokens available each week, participants will be provided all of the required marketing material to take an active role in promoting our project to their audience. Commission + CEFI rewards will make it a lucrative endeavour for all users of the platform.
How to get CEFI Tokens?
As mentioned earlier, there are just 4 ways to obtain CEFI tokens during the initial 8 week LP Program;
Provide Liquidity
CEFI tokens will be earned by providing liquidity to one of our 9 interest bearing pools. You can do this by connecting your wallet to app.emporium.finance
Purchasing Products
To introduce the idea of receiving cashback in tokens, Emporium.Finance has 3 pieces of limited edition merchandise for sale. By making a purchase through our website, users will receive CEFI tokens deposited to their ERC20 address within 24 hours.
Referring Friends
Telling a friend should be rewarded, that’s why if you refer a friend to Emporium.Finance and they also make a purchase, then you receive additional CEFI tokens as a thank you from us
Bounty and Airdrop
There’s 17,760 CEFI tokens up for grabs for ‘Bounty Hunters’ and ‘AirDrop Participants’, complete weekly tasks and earn CEFI tokens, more details can be found on our BitcoinTalk Thread.
Conclusion
Emporium.Finance is a project with big dreams and ideals that should resonate with any true cryptocurrency fan. We believe in decentralization, community, governance and most of all, giving cryptocurrency the real-world uses and adoption it so desperately needs. Whether you are new to the DeFi space, or a cryptocurrency veteran, this is an opportunity to get involved with a project that seeks to reimagine and reinvent the concept of ‘crypto-commerce’. With its low total supply, real-world utilities and fair launch schedule, Emporium.Finance might just be the best bet you ever make.
For more information please visit links below:
Website : http://cryptoemporium.eu/
Telegram : https://t.me/CryptoEmporiumGroup
Medium : https://medium.com/@cryptoemporiumeu
Github : https://github.com/Emporium-Finance
AUTHOR : erwin_ibrahim
0 Comments