EARNFT’s August Community Update

We are excited to share our August update, which includes insights into our ongoing projects, the latest news on the EARNFT dApp, and a Q&A with our Community. This update is full of valuable information, so let’s get started!

Ecosystem Update

First, let’s dive into some of the aspects connected to Mode Mobile and EarnOS™:

• Since our last Community Update, Mode launched and already oversubscribed their crowdfund. More than 11,000 new investors funded over $1,500,000.
• Thanks to the initial success of this crowdfund, Mode can now raise $5,000,000 through this mechanism and, once SEC approved, raise up to $75,000,000 through RegA+.
• Since our last update, over 500,000 extra Mystery Boxes have been distributed to users. These Mystery Boxes contain between 0.5 and 100,000 $EARNFT tokens and 100 Mode sweepstakes entries.

Over 20,000 Mode Earn Club MAX subscriptions have now been sold. Remember, these users are subscription-based and can earn free Mystery Boxes, along with:

• A free EarnPhone
• Faster earning in EarnOS™ enabled devices & apps.
• Unlimited Text & Talk coverage.
• Access to an array of exciting benefits, including free and discounted products, travel tips, streaming services, legal assistance, earning opportunities, exclusive class action lawsuits, complimentary stocks, and much more. To explore further, simply click here.

On the EARNFT NETWORK side, the focus has been on advancing our dApp developments, securing exciting partnerships, and activating our large community.

EARNFT Progress Highlights:

• EARNFT dApp Developments:
• Proof of Concept: Successfully tested on the Mumbai testnet.
• User Experience: A dedicated internal team is fine-tuning functionalities to enhance the user journey.
• Smart Contracts: $EARNFT and Mystery Box contracts have transitioned to production and are set for rigorous stress tests with expert auditors.
• Market Outreach: An additional market maker has been onboarded to amplify our reach, especially as we inch closer to our token generation event on December 12, 2023.
• Partnerships with Polygon: Marked progress in uncovering collaboration opportunities, especially with other projects in the Polygon network.
• Marketing Revamp: We’re reimagining our marketing approach with the assistance of new partners, Key Opinion Leaders (KOLs), innovative projects, and other influential entities in the sector.

EARNFT dApp Updates

In alignment with the 2023 roadmap shared earlier this year, we have been actively forging strategic alliances leading up to our token generation event (TGE) at the end of this year. We’ve introduced and enhanced numerous features, augmenting the EARNFT NETWORK’s presence within the Mode Earn App and among other industry players. Our relentless efforts in fostering partnerships and building alliances with various entities are geared towards strengthening our position in the market.

Central to these endeavors is our flagship product, the EARNFT dApp. For those unfamiliar, this dApp will serve as the primary nexus for EarnOS™ devices, partnering applications, and our user base.

Its anticipated launch later this year promises to be a pivotal moment, setting the scene for our TGE and a comprehensive network deployment. We project this move to resonate powerfully within the sector, sparking keen interest, bolstering our community, and culminating in the $EARNFT launch event come December.

Proof of concept

Earlier in August, we finalized the first iteration of the EARNFT dApp. This proof-of-concept allows us to stress test the mechanisms and functionalities we envision for the product’s first public version. It’s built upon a streamlined version of the $EARNFT and Mystery Box smart contracts, integrated with Chainlink through their External Adapter and Verifiable Random Function. Additionally, a bespoke API bridges the connection with multiple platforms.

The way we engineered this proof of concept allows us to determine the best approach considering many variables amongst the dApp, our partners, and their users. We want to ensure the best overall experience for each party. From a user standpoint, the EARNF dApp allows them to:

• Receive Mystery Boxes as rewards from various applications and services
• Receive a unique 6-digit code as a vehicle from these applications and services to be used on the dApp.
• Connect to the dApp using any wallet.
• Use the 6-digit code for the dApp to communicate with the smart contracts and send the corresponding number of Mystery Boxes to the user upon signing the transaction.
• Once the user has his Mystery Boxes on the blockchain, they can wait until the vesting period ends, or open them immediately.
• If the user opens them immediately, they can select which Mystery Boxes to open. After signing the transaction, the user will receive the corresponding number of $EARNFT tokens in his wallet.

From the backend and smart contract’s perspective:

• The various applications and services can request unique identifiers to the EARNFT dApp by a simple API connection, allowing a seamless relationship between the EARNFT dApp and any interested parties.
• These unique codes are dynamically generated under specific conditions, upholding our stringent safety standards. Once created, they’re automatically delivered to the user and retained in the EARNFT dApp database for 24 hours before being permanently destroyed.
• After the user uses this code, the EARNFT dApp confirms the corresponding number of Mystery Boxes by using a Chainlink External Adapter to connect with our API.
• After verifying the codes match, the smart contract triggers another Chainlink service, Verifiable Random Function (VRF), to apply the randomness component embedded in Mystery Boxes.
• After the different Mystery Boxes tiers have been selected randomly for each one, they are sent to the user.

In pursuit of our ambition to usher hundreds of thousands of users into the web3 realm, we’ve invested significant efforts to optimize the user experience within the EARNFT dApp.

Our seasoned team diligently evaluates the most effective strategies by conducting trials with select users. We invite you to contact us if you’re interested in contributing to this research.

Ultimately, our proof-of-concept has proven successful, enhancing our comprehension of how we can further improve the product’s functionality. We’re now integrating the additional features, inviting auditors to identify potential security vulnerabilities and intend to launch this product to the public this year.

Conclusion

In wrapping up the EARNFT August Community Update, we’ve presented a comprehensive overview of our momentous strides within the Mode Mobile ecosystem and the broader EARNFT NETWORK. The enthusiasm shown by our community, especially with the overwhelming response to Mode and the distribution of Mystery Boxes, emphasizes the potential of our offerings. The EARNFT dApp, central to our vision, is rapidly progressing, with pivotal developments and meticulous planning ensuring its anticipated success. This year promises exciting milestones, particularly the anticipated token generation event in December. We’re grateful to our community for their support and are committed to delivering on our promise of innovation and excellence. Stay tuned for more updates, and as always, thank you for being a part of this transformative journey.

–EARNFT NETWORK Team

[PLEASE READ] Important legal disclaimer:

CREATION OF FOUNDATION: We have commenced the process of creating the EARNFT Foundation, which will be established under the laws of Gibraltar. The EARNFT Foundation will be the legal entity that will enable EARNFT Coin holders to steer and control the direction of the EARNFT Network through proper governance once the network launches. At that point, Mode Mobile and its team members will have no control over the EARNFT Coin or Network. This aspect is key to the EARNFT Network operating in a truly decentralized fashion. A key governance aspect of the EARNFT Network will be to approve and distribute EARNFT Coin grants to projects and platforms that wish to participate in the EARNFT Network. Accordingly, an important part of the foundation establishment process will be to create procedures and documentation associated with grant applications, applicant diligence, and, ultimately, the execution of grant agreements. We expect the EARNFT Foundation to be up and running well in advance of the network launch.

This discussion may contain forward-looking statements that are based on our beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “is designed to,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements may involve risks, uncertainties, assumptions, and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each such forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. Forward-looking statements include, but are not limited to, statements about developing and designing the EARNFT Network, including the EARNFT Coin and its future utility; our expectations regarding regulatory developments and their effect on the EARNFT Network, including the ability of applications on our network to develop a user base and a successful business model; and potential future listings on an exchange or ATS. We cannot assure you that the forward-looking statements will prove to be accurate. Furthermore, if the forward-looking statements prove inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all. We undertake no obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise, except as required by law.