Our previous article covered a detailed introduction on the very first Decentralised aggregator built on the FONSmartChain Network — Eterno. Today, we will cover a step-by-step guide on how to ACTUALLY earn from this tech.
There are two (2) simple ways to earn from Eterno;
1. Yield Farming and liquidity mining: Eterno aggregates yield farming protocols, allowing users to stake assets and earn rewards. One can provide liquidity in diverse pools or pairs such as ETRO-FON, EUSD-ETRO, and ETRO-Roselle and get annual yields of 280–350% [This can be done on RosSwap DEx]. The suppliers and borrowers of assets directly interact with an agreement to earn or pay floating interest rates.
2. NFT Exploration: Eterno isn’t just about defi. It also provides a gateway to NFT collections. Users can invest in these NFTs and get twice their income in a certain period e.g. 100EUSD yields 200EUSD in a specified cycle. Users can also choose to re-invest their NFT when the cycle or locking period is complete.
Steps on how to buy these NFTs
STEP 1: Be sure to have enough USDT, at least 100 USDT in a Bitget Wallet.
STEP 2: Use Google browser to download Bitget Wallet Extension. Import Wallet and Create Wallet would appear. click on Create Wallet and follow the prompts.
STEP 3: Be a part of Eterno’s community in Telegram and request the EtrenoLabs invite link. One of the admins would respond immediately.
STEP 4: Once the Eterno link is clicked, a pop-up window of Bitget will appear on the right side of the screen. Switch to the FSC network by clicking “approve”.
Refer to the image below.
STEP 5: After successfully switching to FSC, a field where an invite code would appear. Request for an invite code in the group by submitting the wallet address that’ll be used to generate the invite code. Copy the code generated and paste it into the field.
STEP 6: A landing page [Kit] showing the Entry Nfts which are SPARK, STAR MAP, and STAS would appear. The connected address will also be used as the user’s identity on the platform.
STEP 7: Click the HOME menu to buy EUSD. After clicking on Buy, you’ll be redirected to the MARKET menu. A column to buy and sell EUSD would appear. Click on the buy in the right-hand side column.
STEP 8: A window showing a field for inputting the amount of EUSD required would show. Put in the amount of EUSD wanted and confirm the purchase.
STEP 9: Approve the transaction and you’re all set.
STEP 10: Go on and purchase any NFT of your choice such as Star, Star Map, or Stas[These are also called Entry NFTs].
Locking any of these NFTs for a specified period will yield X2 its income for users following these mechanisms;
1. Initial Allocation:
— For example, one starts with 1000EUSD invested in the Eterno-01 product.
— 50% of the units (stocks) are allotted to you.
2. Stock Price Increase:
— As the stock price rises, let’s say it reaches 1 times the value of the purchased NFT (1000EUSD).
— At this point, 25% of the units (250EUSD worth) will be automatically sold.
3. Cumulative Sales:
— This process repeats eight times. Each time the stock reaches the specified value, 25% of the units are sold (250EUSD each time).
— After the 8th automatic sale, the remaining 75% of your units will be automatically destroyed.
Locking these NFTs will not just yield EUSD but ETRO tokens. You can monitor your ETRO, EUSD and PUSD earnings on the dashboard.
A quarterly airdrop of ETRO tokens are also airdropped to Entry NFT holders while PUSD is used for re-investment of the NFT after the lock period elapses.
Another juicy way to earn is through referrals. Eterno offers juicy referral commissions to loyal users who refer other users willing to buy any of the NFTs.
Here’s how it works;
-Direct bonus: This is where a 7% bonus is earned from direct referrals.
-Matching bonus: This is where a 5% bonus is earned from seven direct referrals and this unlocks X3 of the value of your package.
-Matching pool bonus: This is where a 0.5 to 2% accumulated bonus is earned from a downline who has Partner NFT.
This is another type of NFT-a VIP NFT, gotten when the user’s experience value reaches 80% [Cruiser NFT], 90% [Destroyer NFT], and 100%(Battleship NFT).
Each user address can obtain up to three Partner NFTs if the experience point reaches the target, then, one can obtain the aforementioned NFTs.
Referring users to buy any of the NFTs can attract massive rewards such as Partner NFT.
Partner NFT attracts rewards such as;
-FON public chain token rewards
-A large share of ETRO airdrop rewards
-revenue pool share from other projects, and fees generated from transaction fees on FON smartchain, Hieswap, and RosSwap.
In summary, the Eterno-01 product dynamically adjusts your holdings based on stock performance, selling units when the price rises and eventually destroying the remaining units.
How does Eterno generate these huge returns?
-Supply and demand/market forces which influence the price of the NFTs
-Revenue sharing generated transaction fees on FON smartchain.
The Security Umbrella of Eterno
Eterno’s commitment to security is commendable. The Beosin audit report highlights their adherence to best practices. Users can transact confidently, knowing that their assets are safeguarded.
Why Eterno Launchpad thrives on the Fon smart Chain
Eterno, as the launchpad for FON Smart Chain (FSC), isn’t just a coincidence — it’s a strategic move that benefits both platforms and the reason behind this symbiotic relationship is that FON Smartchain (FSC) is a layer2 EVM-compatible blockchain that relies on a system of 21 active validators using a Proof of Stake (APoS) consensus. This ensures security and stability. Other reasons include;
1. Scalability and user experience: FSC offers faster transaction finality and lower fees compared to Ethereum, attracting two (2) Million daily active users as of writing. Thus, Eterno benefits from improved user experience of users in FSC.
2. Interoperability: FSC’s dual-chain communication allows Eterno to interact seamlessly with other chains.
3. Governance: Eterno participates in FSC’s decentralized governance through FON token staking.
4. Mutual Growth and Adoption: Eterno’s user base contributes to FSC’s ecosystem, while FSC’s features enhance Eterno’s capabilities. As FSC expands, Eterno gains access to a broader audience.
Eterno being the launchpad, plays these pivotal roles to FSC in return;
1. NFT Ecosystem: Eterno focuses on non-fungible tokens (NFTs) and provides a marketplace and infrastructure for creating, buying, and selling unique digital assets.
2. Smart Contracts and Interoperability: Eterno’s smart contracts are deployed on FSC, benefiting from its EVM compatibility. FSC’s native token- $FON, is used for gas fees and staking within Eterno’s ecosystem.
3. Community Engagement: Eterno actively engages with the FSC community, contributing to its growth and development.
The intertwined relationship accelerates the growth of both projects, therefore reaching the industry pain points and meeting users’ needs. For real-time updates and discussions, join the Eterno Telegram channel or visit their official website.
