First Project of 2023 EasyBackup is Coming This Friday
The bull run of 2017 was driven by countless ICOs, the bull run of 2020 started with GameFi and continued with complicated high APY DeFi projects which most people didn’t understand. As we said in our previous post, we believe the next bull run’s focus will be real utility. So we decided to shift our focus to building real utility projects while maximizing the benefit for our community.
What is EasyBackup?
Losing access to one’s wallet is probably the most feared situation in the whole crypto ecosystem. When you think all the possibilities, maybe the reason Satoshi Nakamoto has over 1 million unspent Bitcoin in his wallet is not because he is dead but because he basically lost his private keys. Or in the scenario he passed away maybe he didn’t have an inheritance precaution.
This brings us to crypto’s another intrinsic problem: inheritance. In the unfortunate case of somebody’s passing away, even their family can’t access their funds if the private keys are not shared with them. Centralized exchanges like Binance handle inheritance but there is no service for decentralized inheritance.
EasyBackup plans to address both of these problems. It will be a fully decentralized trustless application which lets people assign backup wallets for the funds in their wallets. For example, you will be able to let your wallet B, withdraw the $ETH in your wallet A 6 months after your last interaction with the EasyBackup smart contract. This backup creation can be both used for personal use and for inheritance purposes by assigning wallets of family members as backup.
Release Date, Chain, and Fees
EasyBackup will go live on backup.easyblock.finance tomorrow, 24th of February.
It will be first released for the Fantom network and we plan to expand to other popular networks (like Ethereum, BSC, Polygon, and AVAX) rapidly after gaining traction.
Creating a backup will cost $10 and in the case EasyBackup saves your funds, there will be a 1% fee only on backup claims.
Financial Benefits and $EASY Token
The primary way everyone can benefit from EasyBackup is by using it. As humans, we tend to underestimate the risks in life and wish we have taken precautions after bad things happen. So assigning backup wallets for our primary ones would be useful for everyone.
In addition, we will release an $EASY token with the launch of EasyBackup. 90% of EasyBackup initial fees will be distributed to $EASY stakers.
The supply of $EASY will be limited to 10 million. 10% of it will be the initial developer allocation, 35% will be sold in the presale, and 5% will be used for initial liquidity. The remaining 50% will be linearly distributed in the next year, 10% will go to the development team and 40% will go to $EASY-$USDC liquidity providers.
3.5 million $EASY tokens will be allocated for the presale. The presale will start tomorrow as well, at 11:59 am UTC on February 24th. The price will be $0.005 per token and there will be a $10 minimum purchase amount. ($USDC will be used for the presale)
1/7th of $USDC from the presale will be used for the initial liquidity with 500k $EASY tokens. The rest of the money is planned to be used for the initial expenses, such as but not limited to marketing, design, giveaways, and further development.
After the presale ends, staking and farming will go live. As stated above, the stakers will receive 90% of the protocol revenue (initial fees). 4 million tokens will be allocated as the farming incentive. The purpose of farming is to deepen the liquidity of the $EASY token. These 4 million tokens will be distributed to $EASY-$USDC LP providers over the next 365 days.
Holding 10,000 or more $EASY tokens will also give you a full discount on the initial fee applied on backup creation.
Referral System
We want to expand the reach of EasyBackup as much as possible. In order to incentivize the word of mouth there will be a referral system for the first month.
People will be able to share their referral links and earn $5 for every backup created with their link.
EasyClub Benefits
Only EasyClub owners will be able to participate in the presale of the $EASY token. So if you want to buy $EASY tokens at the presale, you should either mint one from club.easyblock.finance or purchase one from PaintSwap. The first 5 days of the 10-day presale will be reserved for EasyClub VIPs (people holding 5 or more NFTs).
Additionally, 10% of EasyBackup’s initial fees will be distributed to EasyClub VIP NFT holders. This distribution will happen in the form of $EASY tokens.
What is next?
In the following months, we will continue to improve EasyBackup with your feedback and work on releasing our next project EasyDCA, a fully decentralized dollar-cost-averaging protocol.
We have a special VIP channel in our Discord, so if you want to get in close communication with the team, be sure to join.
