EmpowerChain StreamSwap launch!
The StreamSwap bootstrapping phase is officially started and will conclude on the 7th of July with a one-hour stream of MPWR tokens to the participating community. During the bootstrapping phase, anyone can subscribe to the stream with OSMO tokens to get MPWR tokens at the end. They can add or remove OSMO tokens as they wish during the bootstrapping phase. After the stream is finalized, an OSMO/MPWR liquidity pool with external incentives will be launched on Osmosis (half of the streamed OSMO tokens and 1 million MPWR tokens will be used to kick-start liquidity. This is as per the on-chain StreamSwap proposal from the community (detailed in a previous post).
The bootstrapping phase will last until 6 PM UTC on the 7th of July, and all 2 million MPWR tokens will be streamed linearly to subscribed participants. Soon after the end of the stream, emissions/”inflation” is scheduled to start on EmpowerChain, so all those who got MPWR tokens can stake them to get their staking rewards and participate in governance and securing the chain. (This is a change from the previous emission start date of the 10th of July).
You can go and participate in the bootstrapping phase on StreamSwap right now with your OSMO: https://app.streamswap.io/stream/OSMO/5
To learn more about how StreamSwap works, check out this blog post which describes the whole process: https://mirror.xyz/streamswapprotocol.eth/3-x3fWlrkoLfwM7lOTxDL1lboWJp9u3RzszHUHc0BPM
EmpowerChain and the last five years
EmpowerChain is a dedicated L1 blockchain built on the Cosmos SDK and connected to the Interchain with IBC. The purpose of EmpowerChain is to provide infrastructure, tools, and incentives for the circular economy. The initial focus is on the plastic waste problem and recycling, but the circular economy is a wide topic that covers traceability, reusability, credit clearing, supply-chain collaboration, and much more.
The current core development team has worked on this problem for more than five years and already has a wide web2 reach with users and networks in more than 45 countries. The current SaaS solution that the team has in production is integrating EmpowerChain as a crucial infrastructure piece to scale the current solution worldwide.
The initial solutions on EmpowerChain include a module to support supply chain tracking and a comprehensive plastic credit system with a marketplace. Plastic credits incentivize cleanup organizations to get paid for cleaning up and handling plastic waste they otherwise would lose money on. These plastic credits are often bought by companies that need to offset their plastic footprint or want to have a positive environmental and social impact on their daily business. The team has helped issue and sell these credits for many years and knows the business well. The goal of bringing plastic credits on-chain is to open up the solution to more issuers (standards), cleanup organizations, and buyers — essentially, to scale the solution.
The Plastic Credit marketplace has been tested during the incentivized testnet and will be deployed and integrated on mainnet with real plastic credits in the following weeks. Stay tuned!
The next part of the puzzle is what we call deposit schemes, which are based on the concept of the Norwegian bottle deposit system, where consumers have a small monetary incentive to bring back bottles to the store. The whole system is a perfect example of a working circular economy system: it recycles more than 97% of all plastic bottles. This works because the waste streams are clean and sorted. If we can do this for all materials, we can dramatically increase the recycling rate globally.
You can read more about our current roadmap here: https://docs.empowerchain.io/introduction/roadmap
We did a pitch at Gateway to Cosmos 2023, which might be useful:
Tokenomics
The EmpowerChain tokenomics are designed to make the native network utility token, $MPWR, a useful asset for all participants in the EmpowerChain ecosystem. This is important for long-term development and maintenance and to ensure that the token is a viable incentive for actors in the waste sector to participate.
EmpowerChain has 200,000,000 MPWR tokens at genesis, most of which are locked and/or vesting. You might also have gotten an airdrop; look at our previous post on “EmpowerChain Launch, Airdrop, and Testnet Rewards!”.
The initial distribution of tokens is set up as follows:
- 25% for waste collectors and recyclers (to be distributed over time)
- 25% for usage incentives and airdrops (to be distributed over time)
- 10% for private presale (exact numbers TBA — remaining funds will be kept for future funding — all tokens are subject to lockup and vesting (minimum 1-year lockup + 1-year vesting)
- 5% permalocked for an on-chain staking impact
- 20% for community growth, partnerships, liquidity, etc
- 7.5% for team members (1-year lockup + 4-year vesting)
- 7.5% for an Empower long-term lockup (5+5 years)
You can do a deep dive into the tokenomics and distribution, including more details on each category in the genesis distribution, in our docs here: https://docs.empowerchain.io/tokenomics/initial-token-distribution
