Token Economy and Convergence of Platforms
Dear Endorians,
As we have communicated over the past few weeks, we have been working hard to launch the Endor ecosystem and token economy. We believe a sustainable economy that would trigger long lasting growth and fast expansion requires, among others, the following elements:
- Providing reliable and stable liquidity
- Converging the Endor Enterprise offering with the Endor Protocol offering
- Creating growth engines for the rapid adoption of the Endor Protocol
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Liquidity
Efficient liquidity is a crucial element of the Endor Protocol. Enterprises and Catalysts alike must be offered reliable sources from which they can purchase EDR tokens, at low volatility.
- We are happy to announce that starting this week Endor’s EDR token is listed on the gate.io exchange. In addition, the EDR token will be listed on another major exchange on Monday next week. Stay tuned for details. These listings are accompanied with high quality market making services, provided by a leading provider in the field.
- In addition, three additional top 10 exchanges are showing an active interest in listing the EDR token, which will provide even better availability for token holders. We expect this process to bear fruit in the coming four weeks.
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Token Economy and Convergence of Platforms
As you know, Endor already serves a variety of enterprise customers (e.g. large banks and retailers). As you also know, our intention is to assist these customers to migrate to the Endor Protocol, in order to be given superior services at a lower cost:
- Increase overall number of predictions being generated using the Endor Protocol.
- Subsequently, incentivize data providers to integrate additional data sources to the Endor Protocol — further improve predictions’ accuracy.
- Trigger a positive feedback loop that would decrease the overall cost of predictions (see our White Paper for more technical details on this).
We are therefore excited to announce Endor’s new service policy, recently instated:
- For the coming 36 months, 50% of the Fiat received from enterprise sales will be converted to EDR tokens and will be used on the Endor Protocol in order to generate predictions for said enterprise customers. This would increase the overall number of predictions executed on the Endor Protocol while incentivizing data providers to integrate their data to the decentralized platform, which will further improve prediction quality.
- This conversion will be handled by Endor’s professional services teams, which is already working closely with each customer. It will be transparent to the customers and will require zero change in their current work flow, and the privacy of their data will be maintained, as always. Furthermore, onboarding of new data sources to the Endor Protocol, and increasing the volume of predictions on the Endor Protocol, are expected to further improve predictions quality.
- In order to provide as seamless an integration as possible to the Endor Protocol, this conversion will completely be done on the official exchanges where EDR is listed, and at the market-rate applicable at the time of such conversion.
- In case the EDR rate passes $2 USD per EDR, Endor has reserved $10M USD worth of EDR tokens (approximately 37.4M EDRs) that can be used for predictions generation. Please note that these 37.4M EDRs are already included in the circulation supply published earlier this month and will be used by Endor for predictions generation. This is intended to reduce uncontrolled volatility and support the utility of the Endor Protocol predictions infrastructure.
- This policy is effective immediately. In addition, revenues that were generated from enterprise customers in previous months, as well as future revenues generated from existing customers (starting today), will also be included in this policy whereby 50% of their revenues will be converted to EDRs in official exchanges. We believe this would soon be reflected in the increase of usage volume of the Endor Protocol, as well as in expansion of prediction’s variety Endor’s customers are being offered.
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Accelerating growth
With the approaching convergence of our enterprise offering into the Endor Protocol, our immediate focus now is hypergrowth — boosting the number of predictions generated using the Endor Protocol, both by enterprise customers, as well as by small and medium businesses.
We are thrilled to announce the recent hire of two senior managers who will join the team in the coming weeks and will spearhead these endeavors!
- EVP of Global Sales: An experienced executive with over 15 years’ experience in several $B companies, with a successful track record in running multi-million dollar sales organizations, selling business analytics to banks and retailers.
- Chief Crypto Revenue Officer: A seasoned professional who has led large scale sales initiatives of intelligence and analytics systems to governments and banks, for a company with over $2B in annual sales. He will manage sales initiatives targeting blockchain and cryptocurrency businesses.
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New Token Logo for a New Era
Last, but not least, we are excited to reveal our new token design. We hope you like it.
As always, we appreciate your support and we welcome you to leverage your channels and capabilities to help build a vibrant sustainable ecosystem.
Thank you again for your passion and energy.
The Endor Team
