All the TimeAlly Features you should know about

Updated on September 05, 2019
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TimeAlly is a Smart Contract designed as a Decentralized App (DApp) to perform multiple functions and offer multiple facilities to the users of the Era Swap Ecosystem (ESE). Some of the major uses of TimeAlly smart contract include controlling the volatility of ES (Era Swap Token), managing the release & distribution of NRT (Newly Released Token) and monitoring reward distribution within the ecosystem. 

The major purpose of TimeAlly is to gradually increase TA (smart contract) holders’ ES counts by adding NRT tokens based on the vesting periods. This removes the need for investors to get into day to day trading in order to earn profits. They simply get paid rewards for vesting their tokens in the contract. 

Features & Benefits of TimeAlly 

The ultimate benefit of the TimeAlly contract is to the user (vestor, token holder, etc.), as they get rewarded simply for trusting in the system. 

TimeAlly follows a set of predefined rules which control the distribution of Newly Released Tokens such that the demand is always in sync with the supply of the ES. This ensures that the token value is stable for a longer period, which gives a boost to its utilities. 

Some of the distinguished features of TimeAlly DApp are as follows: 

Decentralization 

Being a decentralized app, TimeAlly facilitates the distribution of NRT and rewards in a completely transparent manner. It uses Ethereum Virtual Machine (“EVM”) to execute complex code with standard cryptography and no downtime. All the transactions in the network are stored in a secure and immutable manner, means they cannot be modified or reversed. Users can check their old transactions at any time. 

Open-source 

TimeAlly is an open-source application, which means that the software code is publicly available and can be utilized to build other advanced applications. The app can work even without a web interface, which means it can be accessed and used anywhere.

Nomination

This is a unique feature of TimeAlly where each investor gets to appoint a nominee for their account. The nominee will get all the rewards and other benefits in certain cases, as predefined in the contract. 

Privacy protection 

Developed as a decentralized application, TimeAlly ensures that the user only holds their details and private key. So, the users are incharge of their actions and privacy.

NRT (ES) Distribution 

One of the major uses of the TimeAlly contract is for governing the distribution of newly released ES from the NRT pool to the users. New ES (tokens) are awarded to the community members on different platforms of ESE based on their contribution and performance. By controlling the distribution, TimeAlly ensures that there is a transparent supply of ES in the system.

Security (Control) 

TimeAlly is designed with cryptography security mechanism, where each user account is protected with private-public key combination. Moreover, the private keys associated with user accounts are kept only with specific users to provide complete control. 

Less number of users means more ES per user 

The distribution of ES to the users will depend on the total number of users who choose to vest in TimeAlly. For instance, if only a few users vest their tokens in TimeAlly, the same number of NRT ES will be distributed among few receivers, so the number of tokens per user is increased. This means each user will receive a higher number of ES. 

Higher number of users means higher ES value 

On the contrary, if more users choose to vest tokens in TimeAlly, the supply of liquid tokens will decrease, which will give a boost to the demand of ES. This is expected to increase the value of ES based on the simple demand-supply mechanism. 

TimeAlly rewards contract holders for vesting their ES in the smart contract, thus giving a boost to the ES demand and value. 

To know more about the TimeAlly DApp or to become an investor today, visit https://www.timeally.io/

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