E2X – An Ethereum-based DApp to Bring Crypto Use to The Mainstream and Earn Staking Rewards
The decentralized blockchain technology has revolutionized the payments industry by offering a more transparent, faster, and cost-effective payments network in comparison to the traditional baking system.
While blockchain and cryptocurrencies have streamlined global payments to a great extent, their penetration in trade and commerce isn’t much pronounced. When it comes to using cryptocurrencies for daily purchases, blockchain still has shortcomings when it comes to handling several thousand transactions every second. Moreover, blockchain technology is also limited to just payments and fails to offer other banking services like savings interests etc.
Thanks to decentralized finance (DeFi) and decentralized applications (DApps) that are bridging the gap with the traditional systems. Apart from leveraging blockchain to provide faster and low-cost transactions, the DApps use smart contract features that facilitate condition-based transactions.
The E2X is one such Ethereum-based DApp that offers users the absolute freedom to stake their E2X and earn rewards. The DApp puts a greater focus on STAKERS who are willing to contribute to the network.
The platform is absolutely secure and transparent with its staking portal controlled by using smart contracts. The big thing about the E2X platform is that it doesn’t have any entry barrier and facilitates staking even for small amounts. Besides, its staking portal rewards users with daily interests.
The E2X Auction Lobby And Its Working
The Auction Lobbies on the E2X platform conduct daily auctions for its tokens tat enter the ETH Pool. All the E2X users staking their respective tokens on the portal will receive daily interest along with a small percentage of the total tokens that enter the Auction Lobby.
The E2X pool will currently start from 5 million E2X tokens per day and will go lower up to 1 million for the next 365 days. Auction Lobbies are another way for buying tokens and can prove to be more profitable than purchasing through the exchange.
90% of the total ETH that goes in the auction lobby is distributed as dividends while the remaining 10% goes into daily T2X auction lobbies as a buyback, the tokens are then burned which ultimately rewards the T2X stakers. Interestingly, this platform developers remain committed to the growth of the platform and take 0% share. This clearly shows that the developers are driven with the larger role of E2X community development.
Interestingly, the developers will put the first 2 days of dividends, normally taken as profits, back into the E2X auction for the first 10 days. This big contribution by the E2X developers will put more rewards in the project’s stakers’ account. In addition, 10% of the auction goes back to T2X creating a compounding effect.
This would one of the biggest E2X draws fo far that offers golden opportunity to make the most returns by being an early participant. Last time, the E2X auction was launched, it had generated 2K Ethereum. Just imagine the compounding effect over the period of 10-day auction.
The E2X tokens are specifically designed in a way that they are suitable for daily purchases. Thus, tokens serve as the basic utility of money which many other cryptocurrencies fail to achieve.
The Benefits of E2X Staking
The E2X tokens bring users several staking benefits meaning they can start earning interest in staking these tokens for a fixed number of days. Also, staking for more than 5 days makes them eligible for rewards.
At the end of each day, the system will calculate the daily stake pool of E2X tokens and will be shared among all the open stakes based on the staking amounts. The user can withdraw these funds just as the stake ends.
Besides, based on the amount and the time that you’re staking the E2X tokens, users also get bonus rewards for it. Interestingly, there’s a bonus reward day after every 5 days of staking. On this bonus reward day, users get 2X rewards for their staking.
One of the major benefits of staking E2X is the ETH dividends. However, in case the investor ends the stake early, they can incur a penalty up to 100% depending on the staking period.
While blockchain technology has come a long way over the last decade, there was still a lack of decentralized systems that offer services like the banking sector. The E2X DApp platform bridges the gaps and allows users to earn interest, dividends, and rewards by participating in the E2X staking process.
More importantly, the project’s tokens are useful in daily purchases and address the fundamental goal of cryptocurrencies i.e. replacing fiat money.