Info related to Enreach
What is Enreach?
How we got here is one hell of a story. What matters is what we do here and now.
Q. What is Enreach?
A. Enreach is a governance community
Q. What is a governance community?
A. A protocol put in place to manage the leadership and decision making for the interests of its community members
Q. What does Enreach govern?
A. Enreach will govern over the use of decentralised technology that can host peer to peer transactions involved in the exchange of liquidity
Q. What type of transactions?
A. Advancing liquidity against invoices issued to Tier1 telecom companies
Q. What are the Tier1 telecom companies buying?
A. Wholesale minutes and SMS
Q. Who are they buying minutes and SMS from?
A. Other telecom companies
Q. Why do other telecom companies need liquidity advanced against invoices?
A. Tier1 telecom companies buy on 60 to 120 days of credit terms for wholesale volumes
Q. How big is this industry?
A. $700B+ in annual wholesale revenues for international minutes and SMS
Q. How will liquidity be advanced to telecom companies selling to Tier1s?
A. Using a platform called CommSettle?
Q. What is CommSettle?
A. CommSettle is like DeFi and telecom companies are like DEXs
Q. Is this the only type of transactions Enreach hosts?
A. No, there are many other business models within telecoms and DeFi
Q. Are these transactions risky?
A. Some are riskier than others. Tier1 telecom companies are usually SAFU.
An eco-system inside the NRCH smart contract
The definition of the noun Lode is;
a vein of metal ore in the earth
a rich source of something
NRCH charges a 2% transactional tax, of which 1% is distributed to liquidity providers whilst the other 1% is distributed to NRCH holders. If a user sends NRCH to another wallet, they will receive 98% of the NRCH originally sent. If a user buys 100 NRCH from Uniswap, they will receive 98 NRCH into their wallet.
Inspired by @devmorpheus with frictionless yield generated and distributed to token holders, the NRCH smart contract distributes yield in a similar frictionless manner.
Within the NRCH smart contract we have created “25 Lodes” of which, the 1% tax is distributed uniformly across these lodes ie 1% of NRCH volume split 25 ways and distributed across each lode. As per the definition, each lode has a “rich source of something”.
Passive holders of NRCH are subject to penalties, such that after 25 days of inactivity, the passive holder will be penalised a third (33.3333%) of their NRCH balance due to inactivity. For example, a user purchases 300 NRCH on day 0 and is inactive for a further 25 days, such that by the end of day 24 and beginning of day 25 their balance will rebase down to 200 NRCH. The penalty is distributed into the Elastic Reserve.
Each time you sell and send NRCH, you jump from your current lode position to the lode of the current day. Lodes are taxed each 25 days, so if you move to the current lode of the day you made the transaction, you wont be taxed again for another 25 days.
Let’s take an example; I send my ETH to purchase NRCH during the presale event, assume I send ETH on Sunday 31st January and I receive my NRCH token in my wallet.
Lets assume again the presale ends on Thursday 4th February, making Thursday the 4th, day 0. At this point the timer begins for the 25 day inactivity penalty and I am sitting on “Lode 0”.
I then go and sell or send 1 NRCH on Friday 5th February, and now my position is “Lode 1”. I sell or send a further 1 NRCH on February 13th and now my position is “Lode 10”. Each time I make a sell or send transaction involving NRCH on a day relative to day 0, I jump to the lode of that day, resetting the inactivity timer for a further 25 days.
Since each Lode is distributing the 1% transactional tax uniformly, if every NRCH holder makes a sell or send transaction each day, each NRCH holder will claim their proportionate share of the 1%. However, in reality each NRCH holder will not make a sell or send transaction each day, therefore the NRCH holder will receive their proportionate share of NRCH on the lode they are positioned.
What this results in, is that there will be lodes where NRCH distributed have not been claimed creating an arbitrage opportunity for NRCH holders.
How does one jump from lode to lode?
a) By making a sell or send transactions to move to the lode relative to your previous transaction (as per example above jumping from lode 1 to lode 10)
b) Burning X amount of MACRO token to jump to the desired lode of choice
What is the MACRO token?
MACRO allows holders to view inside the NRCH smart contract giving the volume of NRCH tokens claimable on each lode.
MACRO holders will be able to burn MACRO in order to jump from lode to lode to claim a proportionate share of the NRCH present.
The amount of MACRO required to view lode volumes or burn MACRO to jump lodes is yet to be defined by the Risk Committee.
How can I get MACRO token?
Enreach Market Maker pool currently consists of RFI, nUSD and USDT. We may introduce ETH to the pool and subject to Legal Review, ELE.
RFI, nUSD and ELE tokens will receive NRCH as reward.
USDT and ETH will receive both NRCH and MACRO as reward.
The tokenomics for MACRO will be released in a medium article prior to the launch of the Marker Maker Pool.
UPDATE:
When NRCH token interacts with Enreach approved Smart Contracts, the balance of the NRCH holder is not subject to any penalties and will not suffer a negative rebase.
UPDATE 27th February 2021:
Should you choose to “BUY AND STAKE” on the Launchpad Platform, your NRCH balance will not be subject to the 33.333% negative rebase impacting passive holders.
Looking forward to Yaggr v1.1
Introduction to Yield-Generating Tokens (ygTKNs)
Version 1.1 of the dApp will introduce the notion of ygTKNs for liquidity staked on Yaggr to aggregate yield collected on DeFi platforms on Binance Smart Chain such as SushiSwap, Ellipsis Finance, Blackmagic Money and GYRO Money as well as Ethereum based DeFi platforms such as Convex Finance and Curve Finance.
Yield-generating tokens are also useful components for lending protocols as the potential increasing value of the wrapped liquidity representing your original stake plus yield compounded, can be collateralised.
The following tokens will be available for yield aggregation strategies on Yaggr v1.1:
When users redeem ygTKNs from Yaggr, they will be charged a small fee for unstaking. The fee is yet to be decided, however, fees collected will be used to buy back NRCH and distribute the NRCH to single sided NRCH staking pools.
VIDEO: How to setup MetaMask for Binance Smart Chain?
VIDEO: Send funds from Binance to MetaMask
VIDEO: How to transfer NRCH token from ETH to BSC (and back)?
Enreach Community Site