IDO Announcement: Enno Cash launching on Enno Wallet & Swop.fi
We are proudly present $ENNO Cash as the first coin of the swop.fi launchpad. Participants are able to join the launchpad through Enno Wallet & Swop.fi
Enno Wallet provides convenient access to swop.fi launchpad.
Swop.fi Launchpad is designed to raise funding for projects that have issued a token on the Waves blockchain. Investors get early access to participate and buy the project token at an initial price, which can increase significantly as the project develops.
Project tokens are sold for USDN, but only SWOP stakers will be able to buy most of them.
What is IDO, IDO Date, and how to participate?
Initial dex offerings, or IDOs, are tokens that represent any type of asset hosted on a decentralized exchange (DEX) — an IDO is when a project launches a token through a decentralized liquidity exchange*.
The sale date for $ENNO Cash tokens is confirmed for 28/10/2021 and the sale will end on 29/10/2021. For each 0.2 $SWOP in staking entitles you to buy 1 (one) ticket worth 10 USDN + 0.5 USDN Launchpad commission.
✅. You may have as many tickets as you want, there is no limit
Let’s have an example:
Assume that you have 10.59 SWOP tokens in staking.
Your maximum ticket allocation with 10.59 SWOP is:
52 Tickets (10.59 / 0.2 = 52.95 )
This means that you can buy a maximum of 52 tickets if you only stake 10.59 SWOP and commit up to 520 + 26 (Launchpad commission) USDN to buy $Enno Cash tokens during the IDO. Remember: this is your maximum commitment amount with 10.59 SWOP tokens in staking.
You may stake more SWOP to get more ticket allocation. There is no limit!
Also, you may buy fewer tickets than your maximum ticket allocation.
It is all up to you.
Enno Wallet Overview
Enno Wallet is a non-custodial mobile crypto wallet and a gateway to decentralized finance. Enno Wallet gathers all DeFi platforms on the blockchain together and serves with great UI and UX.
At least 2 million wallets have interacted with DeFi protocols. DeFi market cap reached $100B as of April 2021 and crypto experts are expecting 50% average annual growth rate by 2024.
But, Most of the DeFi platforms do not come with a Mobile App, and those do come with it are not user-friendly. DeFi platforms are complex and they create entry barriers for users. DeFi mobile apps are opening a mobile browser and users constantly experiencing connection problems.
Our mission is to create an intuitive crypto wallet and enable crypto holders to maximize the earning potential of their crypto assets. We are building a better financial system and naming it “Ennovation”
Currently, three DeFi platforms have been integrated into our system and more will keep coming.
As of 11/October/2021, There are more than 30.000 active Enno Wallet users and they are staking with more than $42.000.000 value of assets through Enno Wallet.
What is $ENNO Cash?
Enno Cash is a governance token of Enno Wallet. Active Enno Wallet users are eligible to receive Enno Cash tokens based on the size of their activities and their shares of total activities by other users. Enno Cash token incentivizes Enno Wallet users to get more from their crypto assets.
Enno Cash is the native utility token of Enno Wallet. The current and planned use-cases of Enno Cash token include:
- Sponsored Assets: Enno Cash holders will be able to use Enno Cash tokens to sign transactions on Waves Blockchain.
- Staking incentives: Enno Cash holders will be able to stake Enno Cash tokens to receive daily Enno Cash rewards.
- Governance: Enno Cash stakers will vote to determine the weights of rewards for distribution in the future. Enno Cash stakers will gain voting power and participate in the governance process to change product parameters.
- Enno Wallet club membership rights: Enno Wallet users will receive Enno Cash tokens based on the size of their activities. They will enjoy retroactive incentives of Enno Wallet and they will have privilege rights when joining Launchpad, Airdrops, Contests, or events. Enno Cash token incentivizes Enno Wallet users to get more from their crypto assets.
Product Roadmap
2021 Q1-Q2-Q3 (completed): Enno Wallet mobile application launched on both App Store and Google Play Store. We have implemented Vires Finance (supply liquidity), Neutrino Protocol, Swop Fi (Staking & instant exchange), Decentralized Forex. The threat model of our mobile application has been published also and you may check it here.
2021 Q4 (We are here): Enno Wallet launchpad, Banxa integration, Swop liquidity pools, Enno Cash launch, Enno Cash staking, Vires Finance (borrowing), 2 more crypto gateways. Creating and publishing Attack Tree, Creating and publishing Threat Traceability Matrix. Publishing Security Audit Request for Proposal.
2022 Q1-Q2: Enno Wallet KeyCard (Hardware Mobile Wallet), SignArt (NFT marketplace integration), Waves Ducks (Play2Earn NFT game), Enno Liquidity pools, proxy contracts. Explaining security measures/mitigations implemented in detail.
2022 Q3-Q4: Growth period. Forecast: 500.000 Users & $875.000.000 TVL. More security publications: Publishing DDD (Detailed Design Document) and SDD (Security Design Document)
$ENNO Cash IDO Details
- IDO tokens for sale: 850.000 $ENNO Cash tokens
Including:
Sale for SWOP members: 800,000 $ENNO Cash
First promotion campaign: 25,000 $ENNO Cash
Second promotion campaign: 25,000 $ENNO Cash - IDO price: $1 USDN/$ENNO Cash
- Planned to raise: 850.000 USDN
Schedule
Ticket Sale opens: 28/10/2021, Thursday, 15:00 CET
Sale closes: 29/10/2021, Friday, 12:00 CET
$ENNO Cash / USDN pool generation event: 29/10/2021, Friday, 12:00-12:30 CET
Early-Bird $ENNO Cash unlocking period: Starts from 29/10/2021, Friday 12:30-13:00 CET
IDO Investors $ENNO Cash tokens claiming period: Starts from 29/10/2021, Friday 13:00-13:30 CET
VC, Institutional Investors & Strategic Partners $ENNO Cash tokens unlocking period: Starts from 29/10/2021, Friday 13:30-14:00 CET
The $ENNO Cash IDO will last less than 1 day only. $Enno Cash/USDN pool will be available after the sale is closed.
Token Sale Details
We introduced Enno Cash token in this article. We explained 15% of the total emission (1.5 mln $ENNO) is allocated for the token sale. Follow for details of 1.5mln $ENNO Cash tokens:
Private token sale round: 500.000 $ENNO Cash. $0,9 / $ENNO Cash. 450k USD raised (2 Venture Capitals, 2 Institutional Investors, 2 Strategic Partners). 55k $ENNO Cash at TGE (11%) followed by 12 months linear vesting.
Public IDO: 850.000 $ENNO Cash token. $1 USDN/$ENNO Cash.
Pool Launch: 150.000 $ENNO Cash tokens will be used to launch $ENNO/USDN pool.
Detailed Infographic
How to join Enno Cash IDO
$ENNO Cash Supply & Vesting
A total maximum supply of 10 mln $ENNO will be gradually emitted through 5 years vesting period.
- Early-Bird program: 10% of the total emission (1 mln $ENNO) is allocated for early-bird rewards, with a 2-years vesting (500k each year) period. Started on September 3. The early-bird program will end on October 26.
- Referral, Bounty, Contest: 5% of the total emission (500k $ENNO) is allocated for referrals, Bounties, and Contests, without a vesting period.
- Development & Marketing: 10% of the total emission (1 mln $ENNO) is allocated for the development & marketing activities, without a vesting period. 60% of development & marketing tokens will be used for the development of new features, hiring new team members, strategic partnerships, employees. 40% of development & marketing tokens will be used for marketing activities.
- Token Sale: 15% of the total emission (1.5 mln $ENNO) is allocated for the token sale. (500k $ENNO is sold to private investors, 150k $ENNO reserved for pool launch, 850k $ENNO is to be sold during IDO)
- Private Investors & Team: 10% of the total emission (1 mln $ENNO) is allocated for the private investors and the team, with 5-years vesting (200k each year) period.
- Enno Wallet Users: The remaining 50% of the total emission (5 mln $ENNO) is allocated for the Enno Wallet users, with a 5-years vesting (1 mln each year) period. Enno Wallet users will receive $ENNO tokens based on the size of their activities and their shares of total activities by other users. The team will decide the weight of the rewards and the team will add various reward-earning functions in the future.
Circulation Supply Over Time
- Launch day: 2.555.000 $ENNO Cash
- Month 12: 4.700.000 $ENNO Cash
- Month 24: 6.400.000 $ENNO Cash
- Month 36: 7.600.000 $ENNO Cash
- Month 48: 8.800.000 $ENNO Cash
- Month 64: 10.000.000 $ENNO Cash
RECAP
At least 2 million wallets have interacted with DeFi protocols. DeFi marketcap reached $100B as of April 2021 and crypto experts are expecting a 50% average annual growth rate by 2024.
Enno Wallet is ready to be the best. Enno Wallet users can securely store, swap, stake, send & receive their assets on the platform. Enno Wallet is live on both iOS and Android.
Crypto Wallets are already complex and it's becoming mind-blending as developers add new features. We are focused on simplifying everything and working hard to develop an intuitive DeFi wallet. We are removing all the frictions and serving our app with great UI and UX.
Enno Wallet comes to market with a clearly defined roadmap, smart tokenomics, and high potential revenue streams.
