Post IDO period: Daily $ENNO Cash Distribution to Enno Wallet Users, Roadmap, Revenue Streams.
Enno Cash IDO will take place between 28/10/2021–29/10/2021. We explained how to join IDO here.
🔔 $ENNO Cash will be liquid on swop.fi and $ENNO Cash trading pairs will open on Waves Exchange after IDO. Stay tuned for more CEX and DEX integrations.
As we announced in our tokenomics, we will distribute a 5.000.000 $ENNO Cash token after our IDO with 5-years linear vesting period as follows;
- A total of 5.000.000 $ENNO Cash in 5-years
- 1.000.000 $ENNO Cash in 1-Year
- ~2.740 $ENNO Cash in 1-Day
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.
$ENNO Cash Distribution to Enno Wallet Users
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. The weights of rewards for distribution will be determined by the $ENNO Cash stakers in the future.
The current reward distribution plan of $ENNO Cash token is in the following;
📌 ~2.740 $ENNO Cash will be distributed in 1-Day
🗣 The team will decide the weights of reward earning functions. Weights of the functions will be updated every week (on Monday). Weights will be determined by the $ENNO Cash stakers with governance function later.
- $ENNO Cash Staking: Enno Wallet users will be able to start staking $ENNO Cash after IDO. The weight of $ENNO Cash staking is set to 40% of the daily $ENNO Cash distribution. ~1095,89 / day $ENNO Cash tokens will be distributed to $ENNO Cash stakers.
- $ENNO Cash Liquidity Providers: Users who provide liquidity to ENNO/USDN pool are eligible to receive daily $ENNO Cash rewards. Liquidity-providing rewards are set to 30% of the daily $ENNO Cash distribution. ~821,92 / day $ENNO Cash tokens will be distributed to $ENNO Cash liquidity providers.
- Vires Finance Liquidity Providers: Users who provide liquidity to crypto assets in Vires Finance are eligible to receive daily $ENNO Cash rewards. Liquidity-providing rewards are set to 15% of the daily $ENNO Cash distribution. ~410,96 / day $ENNO Cash tokens will be distributed to Vires Finance liquidity providers.
- Neutrino Protocol Staking: Users who stake algorithmic stablecoins and $NSBT on Neutrino Protocol are eligible to receive daily $ENNO Cash rewards. Neutrino Protocol staking rewards are set to 5% of the daily $ENNO Cash distribution. ~136,99 / day $ENNO Cash tokens will be distributed to Neutrino Protocol stakers.
- Swop Token Staking: Users who stake their tokens on Swop.Fi is eligible to receive daily $ENNO Cash rewards. Swop token staking rewards are set to 10% of the daily $ENNO Cash distribution. ~273,97 / day $ENNO Cash tokens will be distributed to Swop token stakers.
Enno Wallet 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 for our mobile application was published.
2021 Q4 (We are here): Enno Wallet launchpad, Banxa integration, Swop liquidity pools, Enno Cash launch, Enno Cash staking, Vires Finance (borrowing), 2 more cross-chain gateways. Creating and publishing attack tree, creating and publishing threat traceability matrix, Publishing security audit proposal.
2022 Q1-Q2 Enno Wallet KeyCard (Hardware mobile wallet), SignArt (NFT marketplace integration), Waves Ducks (Play to earn 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. Publishing DDD (detailed design document) and SDD (security design document)
Enno Wallet Revenue Streams
Enno Wallet Launchpad — There will be two same functions on the smart contract. Swop.fi will use the first one and we will use the second one with a referral attached to the transaction and thus will allow us to count which participant joined IDO from Swop.fi or Enno Wallet. Enno Wallet will receive 5% revenue from all transactions during IDO.
Vires.Finance Referral — We have already implemented Vires Finance into Enno Wallet. Enno Wallet users can Supply and Withdraw liquidity to Vires Finance. As described above we are using the referral function for all Enno Wallet transactions. Vires is not launched its own referral program yet but we will be ready once it’s deployed. Sample transaction: depositRef (“3PEiD1zJWTMZNWSCyzhvBw9pxxAWeEwaghR”, true, “Enno Wallet”) and more than $46M is already supplied to Vires.Finance through Enno Wallet.
Banxa Integration — Enno Wallet users will enjoy transferring funds to their wallet by buying crypto with VISA, Mastercard, ApplePay, SEPA (only in E.U.), Wire Transfer (only in the US) and PayID/Osko/NPP (only in Australia) Enno Wallet will receive 1% revenue sharing from Banxa.
Enno Wallet KeyCard — It is an innovation for non-custodial wallets that KeyCard will make Enno Wallet a hardware wallet which users will add another step of security to keep their private keys extra secure. Also, since Key Card has a connection with your wallet and may get used as an ordinary credit card. It will make Enno Wallet valid for everyday payments.
Proxy Contracts — On the other hand, we can implement other 3rd party DeFi apps with a revenue-sharing model and we will create our DeFi apps to create a revenue stream. Eg. Waves — USDT swap is not available right now. Our users should swap Waves to USDN first and USDN to USDT. We can create a proxy contract and allow them to swap Waves to USDT directly and apply additional fees.
LP Tokens — Enno Wallet team plans to launch Liquidity Provider tokens and allow its users to use interchain DeFi products. Users’ funds will be accumulated on the Enno Wallet address, which is then proxied into DeFi products of the Avalanche or Ethereum ecosystem. Users will receive LP tokens and the difference in LP Asset price when they start staking and exit staking will be their income.
Listing 3rd party DeFi apps and tokens — Enno Wallet will run a compliance process to list 3rd party DeFi apps and tokens. Enno wallet promotes these integrations in its Telegram, Twitter, and especially in the wallet. Enno Wallet will charge a promotion fee or a listing fee and will work with a revenue-sharing model.
Enno Wallet Protocol Fees — Enno Wallet can charge protocol fees while the user is supplying liquidity to Vires.Finance, staking on Neutrino Protocol, etc. Enno Wallet users will receive $Enno Cash rewards in exchange for protocol fees.
