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Era Swap is a decentralized utility token

FAQ

Era Swap is a decentralized utility token

FAQ

ESN GUIDANCE

Era Swap Network (ESN) is a PoS-based side-blockchain on top of Ethereum blockchain using the Plasma Framework. To achieve the necessary consent on the single state of the network among distributed parties within the network, Era Swap Network (ESN) uses Proof of Stake (PoS) Consensus Mechanism - It is a fault-tolerant mechanism used in Blockchain systems
Era Swap Network will offer Scalability, Speed and Low-Cost Transactions to users of Era Swap Ecosystem. Era Swap also offers the benefit of trustless security for users by remaining on an alternative chain. ESN testnet could do upto 500 transactions in every 5 seconds at 98% lower costs as compared with Ethereum Blockchain.
The core strength of ESN comes from its Proof of Stakes Consensus Protocol (PoS CP) via TimeAlly 1L1T Smart Contract staking and Node Validators. The consensus permits Blockchain to function without being dependent on a single actor, as different participants in the network, offer their consent which makes Era Swap network.
Anybody can participate to accumulate ES in long term to safeguard the future, and have the control over their growth. The sole purpose and reason for TimeAlly 1L1T holders should be to participate, not to earn profits, but to protect the interest of ESN and their own long term Era Swap Stakings.
The real motivation of TimeAlly Holders is to focus on Staking so they can withstand the inflation of the Era Swap and secure Era Swap network instead of assuming profit from the participation. The value of Era Swap will decrease and eventually will become worthless if the Era Swap Holders fails to stake and participate in Era Swap Network.
For ESN PoS CP, A New User can stake Era Swap in TimeAlly`s 1 Life 1 Time Smart Contract. To participate in ESN PoS CP, Existing users can Sign an accord Signature on Era Swap Life / Era Swap KYC DApp for ESN PoS CP via TimeAlly 1L1T Staking to migrate towards Era Swap Network
Era Swap Network (ESN) is a decentralized Blockchain Network, and the growth of ESN is solely dependent on the community and doesn’t depend on the Promoters/ Developers. In ESN, a person can create liquidity with their own efforts and solely responsible for the rewards generation. So, the efforts of Era Swap Community makes ESN sucessful.
A participate incentive is secured in ESN by his / her stakings in ESN PoS through TimeAlly 1L1T Smart Contract. All the incentives to stakers are distributed via Smart Contract to participant of ESN.
In ESN there are multiple opportunity available to accumulate ES and it increases its value with individual efforts and responsibility by community members and participants. This contribution by everyone will determine their success whether or not the enterprise is successful.
ESN Newly released token distribution is designed to take care of network and withstand inflation, and also gives additional power on Swappers Wall to incentivize new ES Ecosystem participants. Also stakers receive TimeAlly 1L1T Staking Rewards which are designed to enable the incentive mechanism for stakers who can participate to secure Era Swap Network
Due to Proof of Stake (PoS), participants can protect Era Swap Network as ESN is governed by Proof of Stake Consensus Protocol (PoS CP) through which Era Swaps are staked in Smart Contracts and Stakers agrees to participate in Era Swap Network.
The TimeAlly Holder is not exposed to any risk of losing their Era Swap which are staked, but only the risk that he or she will not earn TimeAlly 1L1T rewards. If the holder is abstained from TimeAlly 1L1T staking they both way forgo Rewards and suffer from Era Swap Network Inflation.

ESN REWARDS GUIDANCE

All ESN PoS CP Stakers will stake ES in TimeAlly 1L1T Smart Contract for rewards. The percentages of earned rewards and Validation Rights of holders are received by Blokcees in Era Swap Network and their rewards are distributed further to TimeAlly 1 Life 1 Time holders via Smart Contract. This percentage of reward distribution in ESN will be done by smart contracts.
The ESN TimeAlly 1L1T rewards earned by the Blokcee are then sent to Era Swap Network controlled distribution wallet. At their discretion, the TimeAlly 1L1T holder shall separately submit request transaction to the Era Swap Network controlled distribution wallet and their portion of the earned TimeAlly 1L1T rewards will be allocated to the wallet initially Delegated from.
The participants on Era Swap Network do not utilize rewards for the benefit of anyone other than themselves. They have the complete control over their funds and rewards, and are solely responsible to withdraw rewards. All the rewards are allocated and distributed in decentralized Era Swap token on ESN via Smart Contracts, based on their efforts and eligibility.
TimeAlly 1L1T holder's tokens are holded safely in TimeAlly Vault. TimeAlly holders solely transfer their rights to Blokcee, in good faith, and they can do this delegation every 30 days and 10 hrs. So there is no affect in the count of staked ES of holders in TimeAlly Vault, unless penalized for wrong doing or malicious activity.

ESN MINER'S GUIDANCE

The MINERS in ESN runs two software called "Blokcee" and "Kami". The miners in the Era Swap blockchain network needs to stake Era Swap (ES) with TimeAlly 1 Life 1 Plan Smart Contract to get allowed for validating new transaction blocks in ESN. ESN PoS Participants needs to stake Era Swap TimeAlly which allows them to validate new transaction blocks in ESN.
The Miner`s primary responsibility is to run the software to validate the new transactions and earn rewards on successful validations. The returns are completely based on the external factors like market forces of the Era Swap and do not depend on the efforts of the Miner.
In ESN, the Miners have delegated the Rights to validate the new transactions blocks and earn rewards in Era Swap Network, it helps To enable and drives participation in developing and validating new transaction blocks on the network to make it more secure. This also helps to attract new developers (block finilizer, etc) and users in the ESN. TimeAlly 1 Life 1 Time smart contract designed to reward the stakers who supports the growth and sustainability of ESN.
The returns are completely based on the external factors like market forces and isn’t depended on the efforts of the Miner.
The Miner is responsible to maintain the distributed Ledger and they can only interact with decentralized Era Swap Network with decentralized Era Swap token which was previously issued, bought, or sold.
Miner would not provide any money transmission service because they take no part in transferring Era Swap. A TimeAlly 1 Life 1 Time holder delegates Validation rights to Blokcee staking Node. The Blokcee then pools the validation rights and validates on Era Swap Network.
In ESN, the stake holder delegates Blokcee, the Rights to validate the new transactions blocks and earn rewards in Era Swap Network, which helps to enable and drives participation in developing and validating new transaction blocks on the network to make it more secure.

ERA SWAP (ES) UTILITY GUIDANCE

Era Swap is not an Exchange that converts Virtual Currency in real currency, funds, or any substitute of currency. Era Swap ecosystem is a peer to peer decentralized utility platforms which are powered by Era Swap Utility token on Era Swap Blockchain Network.
ESN implements Proof of Stake Consensus Protocol (PoS CP) which will have a maximum supply of 9,100,000,000 ES and every time a new block is added to blockchain new token is produced from the New Released Token (NRT) Supply as per the Smart contracts.
Every participant or purchaser of Era Swap should rely completely upon external Market forces dictating the value of Era Swap instead of relying on Promoters/Developers to enhance the value of Era Swap.
Securities law protection is not applicable to participants/stakers here because in ESN they can exercise control over their funds and ES generating activity, with their own efforts that will determine their success whether or not the enterprise is successful.
The count of Era Swap remains intact in users wallet there is no loss of ES automatically. There is also no money loss associated with ES, as ES is used only inside Era Swap Ecosystem by Era Swap Community members for peer-to-peer exchange.