Ethernative: No-Frills CryptocurrencyBy Raze Yung, on 1st June 2021
If you're looking for something fancy, it isn't here.External Links:- Website- Whitepaper PDF- Solidity File- Smart Contract (Etherscan.io)- ETN Token (Etherscan.io)Launch Schedule:- Whitepaper (01/06/2021)
- Smart Contract Deployment (08/06/2021)
- Website Launch (08/06/2021)
- Announcement on Bitcointalk (08/06/2021)
- Uniswap Pool Creation (10/06/2021)
Ethernative (ETN) is an ERC-20 standard token, created and deployed in the Ethereum Main Network, with no project behind it; It aims to be nothing more than a currency, not reliant on any project’s success to exist, endure, and thrive; ETN has a limited supply of 1,000,000,000,000 (one trillion) tokens, and no new tokens can ever be created. It will also have a fair launch, with 100% of its supply sent to a Uniswap pool, which is a decentralised exchange, and even the token creators themselves will have to purchase the tokens if they want to have access to it; ETN can be used to send and receive value among users anywhere in the world, on a decentralised and unstoppable way. Given the high number of tokens being created, it is expected its value to always remain low in comparison to ETH, BTC, and another major cryptocurrencies - which is part of the proposed solution. The tokens can be further broken down into 18 decimals, which makes it even more flexible while used on small scale or micro transactions.
What it can be used for?ETN has all the six properties of money, being fungible, durable, divisible, portable, cognisable, and has a limited supply. Thus, it can be used to transfer value on financial transactions and to store value. Due to its expected low value per individual token, it is perfect for smaller scale transactions, tipping, and fundraising.
Fair LaunchDifferently from most tokens and coins out there, there will be no token distribution prior launch, and 100% of the supply will be pooled on Uniswap, which is a decentralised exchange, and even the token developers will not have access to the tokens by any other means. This guarantees ETN will serve its purpose and will keep fairness among its decentralisation and democratic distribution among the community.
Security To the limited supply. Being a smart contract, the token will not allow for the creation of new units, and this can be verified directly on its contract code, which is publicly available and can be audited by anyone.
To the fair launch. The full supply of tokens will be pooled on Uniswap, and the pooling wallet private key will be thrown away, so the tokens will be locked forever. Any activity or possible fraud attempt can be closely monitored by the users themselves, which should keep the project clean and legitimate on its existential purpose.
To the network security. ETN will only be launched on the Ethereum Main Network, which has proven to be reliable, has endured the test of time, is one of the most decentralised blockchain networks available, and has a strong community of developers, users, and investors. Is expected that, as long as Ethereum exists, ETN should also exist and be safe to use.
Why to use and hold Ethernative?Today, with very few exceptions, most of the tokens and coins available out there act almost exactly as a company stock: if a project succeeds, the value goes up, whereas if the project finds itself in trouble or failure, the value goes down. That is now how a currency should look like or behave. The ETN tokens have no project behind them – it is just a currency. You know how many tokens there are, the wallets holding them, and how much each one is worth. It is easy to buy, decentralised, and provides real ownership, with no one man, company, institution, or organisation dictating the future of your wealth.
The Ethereum NetworkThe Ethereum Main Network will be the only place where we will deploy the ETN token, and it will never be launched on any other network. And though we understand that third parties may want to make the ETN token available on alternative smart contract blockchains (of the likes of Binance Smart Chain, for example), by tethering other tokens to it, there will be only one place where the original tokens and units of account will be housed on, and it will be the Ethereum Main Network.
Development and UpdatesBecause there is no mining, no maintenance, no minting, no burning, and no control exercised over the ETN tokens, there will never be any development or updates for the Ethernative smart contract, and its existence will depend entirely on the existence of the Main Ethereum Network. Updates, upgrades, and changes to the Ethereum core, will also have its effects extended to the ETN tokens.
The CommunityBecause there will be no project or organisation behind Ethernative, and the code will effectively never change, there will be no official community groups, social media, or any other means of communication from the developers towards the public. The community will be free to create their own pages, groups, forums, and profiles, and maintain them, on a true exercise of a social experiment and community formation.
ETN TokenThis will be the token to be brought to existence after the deployment of the smart contract to the Ethereum Main Network. It will have a limited supply of 1,000,000,000,000 (one trillion), which will be all minted upon contract deployment. The full supply will be pooled with ETH on Uniswap, on a 0.0000000000001:1 ratio, and its distribution will be entirely decentralised, with not even one token being distributed prior to the fair launch, not even to the token developers themselves.
