Ecentiv Community Update & AMA August 13, 2022
Good morning ECV Community! Welcome to the first AMA of the Ecentiv ecosystem. While we did not have an official AMA where users can ask
the ECV foundation questions directly.
We have gathered the most common questions from ECV community and put them together in this community update to clear any sort of confusion. We will continue to remain vocal on the growth of the Ecentiv ecosystem with regular community updates via medium, twitter and telegram.
Lets get started!
Is liquidity pool locked?
Yes! as of 8/13/2022 the pooled BNB for the Ecentiv token is permanently locked (LP tokens burned)! You can safely trade without the worry
of the ECV foundation pulling liquidity (not that we ever planned on doing so)
What will the token utility action plan consist of?
We are still open to many ideas regarding how the token utility action plan will role out The ECV foundation is considering starting a unique NFT marketplace which will utilize the ECV token.
How decentralized in the Ecentiv Ecosystem?
The Ecentiv token within itself is completely immutable and we can never alter transactions or take your tokens. All community funds & burns are regulated manually via the ECV Foundation.
We offer transparency of fund / burn addresses to rid of any sort of fears the ECV community may have regarding how funds are regulated.
With core values of using consensus to grow the Ecentiv ecosystem, we consider the ECV community to be moderately decentralized.
Why does the ECV token have such high fees?
Many investors consider token fee’s to be a bad thing. But, they are necessary to grow an ecosystem just like taxes in real world economies.
The greatest thing about the Ecentiv ecosystem fee’s is that it benefits the community more than the ECV Foundation. Take for example the community fund. If the ECV community wishes to use the community fund to fuel liquidity pool then this will have a positive impact on price. But this is just one example, there are limitless ways the ECV community can benefit from the community fund.
Another main focus for having a high transaction fee is that it will entice investors to hold our asset as opposed to pumping and dumping for gains.
The Ecentiv token takes the role of a community driven store of value, not a meme stock. The Ecentiv foundation believes token holders that hold instead of trade for short term gains will have the greatest benefit of the Ecentiv token.
How often will there be a community AMA / update?
This will vary based on the level of urgency. We aim to do an AMA & community update every 2 weeks if not once a month based
on ecosystem growth.
Is there a marketing strategy in place for the Ecentiv ecosystem?
We are currently reaching out to various youtubers and twitter accounts in order to get promotions. We are also utilizing SEO practices in order to traffic on a daily basis with the use of high authority blogs.
We will be reaching out to various exchanges to get listed which
will increase exposure. Our ultimate goal is to build a strong community which will advertise itself, but this will take time.
Lastly, we will be hosting a token airdrop in an attempt to expand our community. We will post on our twitter / telegram when airdrop is live.
When will the ECV Foundation update Community fund and Burn numbers?
I notice this has been a concern for our investors. Once they trade their token they instantly check the website for the numbers to
be updated. We update this on a weekly basis considering all burns are done manually.
Why do the recent ECV burn numbers not reflect on the ECV burn reserve?
This was a mistake on behalf of the ECV foundation. We have directly burned from the circulating supply rather then the burn reserve. From now on
we will extract from the burn reserve as intended.
When will exchange listings happen?
This is something we are focusing on as we speak. Unfortunately, big listings are a bit costly…. That being said we are hoping with the growth
of the Ecentiv token eventually we can take such funds to get listed on big exchanges such as Bitmart, Mexc, etc. As of now we are focusing on
smaller exchanges to get listed on until we obtain needed funds.
We hope that this AMA has served the Ecentiv community well in clearing any sort of confusion regarding the Ecentiv ecosystem. Feel free to voice your opinions on our telegram or by emailing us at Info@ecentiv.finance
In the works:
- Exchange Listings
- Community Airdrop
- Marketing (SEO, Twitter, Youtube)
- Constructing Token Utility Action Plan
- Locked Liquidity
- First Community Update