The world is changing right before our very eyes. Cryptocurrency is ruining many of my friend’s relationships. Instead of giving their partners attention, the words DeFi, yield farming and NFTs are shouted down the phone. Homes, families and relationships are ruined…
All jokes aside, you can’t escape the current crypto and DeFi boom. The landscape is ever-changing and new weird and wonderful use cases are popping up every day.
New ideas and ways to use cryptocurrency can quickly make the most experienced crypto-naut a beginner again. Imagine what it is like for a newcomer to this space?!
This is what we set out to do here at blocmates. Make the difficult, easy to understand and remove that barrier to entry for all levels of experience.
What we like, is when we see projects that are also on our wavelength and try to make the onboarding for new folk as easy as possible.
If crypto is to fully solidify its place in the world and for it to achieve full adoption, it needs to be easier.
Creating a one-stop shop for users is a great way to do this. A familiar setting and user interface, all under one roof will help. I believe projects are beginning to realise this and capitalise on it.
The master of this is obviously Binance, creating a simple(ish) to use platform that is easy to onboard, on-ramp and retain users. Exposing them to new and emerging technologies as they develop, expanding their scope and knowledge of this space.
My personal argument against this would be very heavily built on centralisation. Binance is great in every way but it is also heavily rooted in the regular non-decentralised world.
So, what if there was a developing platform that can offer all of the above, is decentralised and has some of the soundest tokenomics in all of crypto? Well, fortunately, there is… And guess what, you are still extremely early.
Let us introduce to you: EDDASwap and their native EDDA token.
“Ecosystem of DeFi and NFT applications with a DEX supporting ERC-20, BSC and Polkadot”…
Tokenomics of EDDA –
Before we start let’s take a look at the tokenomics of EDDASwap.
I’ll be completely honest, I am a total sucker for a low supply token. As soon as I see a sub 100K max supply I get my YFI glasses on and start booking yacht viewings.
In all seriousness, I thought the 5,000 MAX SUPPLY, was a typo when I saw it and was constantly doubting myself.
So as usual I did some digging and no, it was correct. 5K max supply and no more… EVER.
This alone was enough for the ape in me to get excited. Following researching and writing this article, I am now an EDDA convert.
Looking a little deeper at what this supply means…
This image is taken directly from the EDDASwap lite paper and shows some extremely community orientated allocations. No ridiculous presale or private investor fund.
70% of the tokens were available in the public sale, a further 5% for each; liquidity fund, vault rewards and LPs.
The founding team, advisors and funds for future development all add up to 15%! This is great for investor confidence. Presale and private investors are there, for one thing, to dump on retail as soon as they can.
That may be me being cynical, but that is what happens.
The incoming DEX, increasing NFTs, multi-chain compatibility and incoming launchpad all create huge demand for the EDDA token. Going back to basic economics, a great demand whilst there is such an incredibly low supply can only be good for investors.
As always, you can buy a proportion of EDDA and don’t have to own a full one. But, if you can afford it, why not…
$6 million market cap, I actually can’t get my head around this valuation. But, that is crypto for you. Logic will get you killed around here.
Soon as it starts moving, I guarantee there will be a flood of people coming and discovering this brilliant brilliant project. Let’s hope articles like this get the word out.
EDDASwap has a staking platform that currently supports EDDA and EDDALPs. Investing EDDA in these vaults gains your interest on the deposit paid back in two options EDDA or Samurai tokens.
The first is simple. Deposit EDDA earn more EEDA. This is currently a manual harvest, but don’t be surprised if this feature is auto-compounded in the near future… I KNOW NOTHING.
The second is genius. Deposit EDDA earn Samurai tokens. Samurai tokens lead us to our next feature of EDDASwap… NFTs.
NFTs on EDDASwap
Currently, staking 1 EDDA will return you, 0.5 Samurai, every 24 hours. (Maximum 10 EDDA staking limit). Samurai is needed to buy their collection of incredible NFTs.
I have my eye on the Andre Cronje 3D NFT video but I don’t believe I will get to 200 Samurai before someone else does…
I also missed the boat on the DeFi Pow Wow NFT too, which is so cool.
Those in desperate need of these world-class NFTs will have to go ahead buy as much EDDA as they can to earn the Samurai rewards creating additional buying pressure on the EDDA token.
EDDASwap team up with some of the best digital artists on the planet to bring these exclusive NFTs to the market. A few of those artists are listed below:
Some of EDDAswap’s most popular NFTS have included their current SwapTrooper, 7 wonders of the world and the ‘Dedicated’ series which includes this incredible ‘Dedicated to the Winklevoss Twins’ NFT.
Currently available on OpenSea for 4 ETH.
If you have been an idiot like me, don’t worry… There is a secondary market for EDDASwap NFTs on OpenSea.
The EDDASwap DEX has recently been announced its plans to launch a Decentralised Exchange to rival Pancake Swap.
Why is this important?
Well, when a token has already has multi-utility and they venture into another area which requires high token demand #NumberGoUp
— bl◎cmates. (@blocmates) May 1, 2021
Remember that volume we saw earlier? Taking a fraction of that would be incredible for EDDA. Or “thinking bigger” as founder and CEO Mehul ‘Mike’ Patel suggests could lead to much greater heights for EDDASwap.
— Mehul (Mike) Patel (@TheMehulPatel) May 1, 2021
Given their track record, EDDA will get this released by Q2. The team seem to be locked in and hitting targets. This is an incredibly bullish sign when a team delivers as promised.
Looking further down the road map, you can see the plans for governance with the EDDA token. This is for me, the most important. Not only does it expand EDDA from a utility token to both Utility and governance, but it secures the longevity and commitment from the community.
I have very high hopes for governance tokens and believe they could be implemented globally in a world-changing way.
EDDA also have plans for a launchpad. LaunchPads are great for projects and even greater for holders of the EDDA token. I am not entirely sure how the EDDA launchpad will work, but based on past experience I can imagine this would require those who want to participate in the ICO to first hold and stake EDDA to be in with a shot of presale.
This is just another string to the EDDA bow and shows the capabilities and competence of the team.
Multi-Chain Interoperability –
Being heavily into DeFi myself, I saw the issue start to occur between different blockchains and their ability to interact with one another becoming more and more apparent.
Users typically go where their capital is most effective. First, it was on Ethereum in the DeFi summer, more recently it has been on BSC with its low fees and now, I believe Polygon (Matic Network) is about to blow.
As I mentioned earlier, if you aren’t willing to adapt, in the real world you might get away with it for a few years at best. If you try that stuff around here, you will not last a year. The industry just moves way too quickly to be stuck in your ways and be stagnant.
EDDA have done it right and opted to be multi-chain. With the whole Ethereum gas fees potentially not being the settlement layer of choice for the foreseeable, other chains and layer 2’s have smelt blood and began to build.
EDDA has now deployed on Ethereum, Polkadot, BSC and soon to be Polygon. A recent Yahoo Finance article highlighted the plans for EDDASwap to take advantage of the superfast and ridiculously low Polygon fees. Again, enabling a greater user experience, broader reach and exponentially more EDDA holders and users.
As always, all these thoughts are written down in the article are my opinions and should not be taken as financial advice. Please always DYOR and never invest more than you can afford to lose.
Twitter – @EDDASwap
Website and DApp – https://eddaswap.com/
Telegram – https://t.me/EDDASwap
[email protected] for enquiries or to partner up!
We are looking to start building a YouTube channel with walkthroughs and Podcasts with those in the industry. If this sounds like something you would like to be involved in, give us a shout, we would be happy to have you on.
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