EMRX Token. What stands behind it?
Emirex was established in 2014. At the time, when fewer people were familiar with Blockchain as a technology and Bitcoin itself.
We have nurtured Emirex, having experienced both market recessions and the uprises to new heights. Not the ICO hype race, but the company development has always been the highest priority for us.
Deciding to conduct IEO at the end of 2019, we scrupulously considered all kinds of positive and negative impacts on the Emirex both as a company and brand. Since more and more companies switch to the format of digitizing their assets, we realized that now is the time. Not because of the hype or anything related to it, but of fundamental changes that happen right now in the business world. Scam projects have already run short, and only those who can offer a real product to this market are survived.
But first, you should know what stands behind the EMRX Token. Let’s go through it.
General information:
- What is EMRX
- Token Supply
- Allocation of Token
- Use of Funds
Special EMRX features, to ensure its stability and expanding utilization:
- Lockups and Vesting
- Token Burn
- Community Reward Programme
- Referral Programme
- Cryptodust Feature
- Community Voting
What is EMRX?
Scaling is the largest challenge faced by online marketplaces or networks. The network effect is what all online platforms are aiming to achieve: making sure that the strategic value and positioning of the platform is directly correlated to the number of users. Beyond a certain point, the network effect comes into play and drives exponential growth.
To achieve the network effect, we need to incentivise existing participants and attract a large community of traders, investors, Issuers and partners. To achieve this, we have issued EMRX.
EMRX functionality is structured around the utility it provides. It creates a growth spiral through the built-in mechanism in which the ecosystem participants can earn EMRX for their participation.
The main EMRX perk is a possibility to pay for the products and services of the Emirex Group with decent discounts. Users will receive a discount if they pay transaction fees, listing fees or application fees in EMRX. They will also enjoy priority participation in IEO projects.
Token supply
The number of EMRX tokens is limited to 500,000,000. It is issued as an ERC-20 token, compliant to the public Ethereum blockchain.
Allocation of Token
The total supply of EMRX will be distributed amongst various stakeholders. Our goal is to balance the interests of different groups to maximize the long-term beneficial effects for the Emirex ecosystem development.
55% — IEO
15% — Team
13% — Private Sale
10% — Token Reset
7% — Long-Term
Use of Funds
All the assets raised through the EMRX token offering campaign are to be used solely for the development of the Emirex Group. Funds will be used in the following proportions:
30% — Top-level IT products and infrastructure development
30% — Emirex products and services worldwide promotion, while the focus is to become a leader in the Middle East.
20% — Investing in strategic initiatives that can strengthen the Emirex ecosystem.
10% — Legal, compliance and other operating costs.
10% — Hedged in a mix of safe assets, both fiat and digital, to cope with any emergencies that may occur.
Lockups and Vesting
Lockups and vesting are applied to the tokens allocated to the Emirex team, partners and reserves. This emphasises our long-term commitment to developing the best-in-class ecosystem for digital assets. The team is motivated to put maximum efforts in building an efficient and sustainable business, as our bonuses are vested over three years quarterly.
Vesting is controlled via the EMRX token smart contract and is designed as follows:
Team — 5% per quarter vesting over 5 years
Long-Term Partners — 10% per quarter vesting over 2.5 years
Token Reserves — Available to ensure the availability to pursue time-limited lucrative opportunities.
Token Burn
Coin burning is the process of permanently removing coins from circulation, reducing the total supply. Emirex shall burn up to 50% of all of the EMRX every quarter received for the sale of its products and services until the circulating supply reaches the 250,000,000 EMRX.
Community Reward Program
Rewards will be offered to Emirex Group’s active. There are various programs for the different stakeholder groups, including rewards for active investors, paybacks for asset issuers, rewards for contributors of work, as well as airdrops with partner coins.
Referral Program
Users will be able to enjoy bonus EMRX by successfully inviting new users to register with Emirex infrastructure. Feel free to sign up, just press this link.
Cryptodust
Emirex users will be able to convert crypto dust that is equivalent to less than 0.001 BTC into EMRX tokens.
Don’t miss the forthcoming IEO start on the 11th of December, 2019. In the next article, we will disclose the detailed info on it. Stay tuned.
Emirex Exchange. EU Licenced&Regulated. Tokenisation Advisory.
