What is Luck Pool in the Era Swap Ecosystem?

Updated on September 05, 2019
263-(1)-1561704184.jpg

The Era Swap Ecosystem (ESE) is a combination of multiple interlinked platforms which were created with the aim to provide users with a fair and rewarding value exchange for tokenized time-based services.

 

ESE has been created for the benefit of the community, and therefore, a major part of the revenue generated by the platform is given back to the community members in the form of rewards based on their performance and activity. Luck Pool plays an important role in this. 

What is Luck Pool?

 

Luck Pool, collects tokens from the various sources within the Era Swap ecosystem. The tokens collected in the luck pool are combined with the Newly Released Tokens (NRT) to be distributed back to the community.

 

Wondering how tokens are accumulated in the Luck Pool? The revenue tokens in the pool are collected from a number of sources as follows:

 

Advertising Revenue

 

To promote user services, ESE allows users to advertise their products/services on the Time Swappers platforms and BuzCafe in exchange for a minimal fee. The advertising fee collected from the users of time swappers is stored in the Luck Pool.

 

Interest from TimeAlly Loans

 

This is a loan scheme exclusive for the TimeAlly contract holders, under which a contract holder can take a loan of up to 50% of their vested tokens for a maximum period of 2 months. Along with the principal amount, the borrower also has to pay 1% interest on the loan amount. These additional tokens are added to the luck pool.

 

TimeAlly Contract

 

15% of the NRT is reserved for TimeAlly vestors, who invest their tokens in the TimeAlly Contract for a specific time period. The interest in the form of reward tokens is distributed as per the below rules:

 

For vesting period of 1 year - 13% tokens in proportion to the amount staked and volume staked.

For vesting period of 2 years - 15% tokens in proportion to the amount staked and volume staked.

 

One-year TimeAlly contract vesters are given 13% tokens, and the remaining balance 2% is sent to the Luck Pool.

 

Time Swappers subscription fee

Each of the sellers on the Time Swappers platform has to pay a one-time KYC verification fee of $1 worth EST at the time of registering on the platform. 80%, i.e. $0.8, of the seller subscription fee goes to the luck pool.


How are Luck Pool tokens utilized?

 

The sole purpose of the luck pool is to benefit the community. The ES tokens collected in the Luck Pool are merged with the Newly Released Tokens each month, which are then distributed among the community members as per the NRT distribution rules.

 

This way, Era Swap ensures that the additional revenue generated from the platforms of the ecosystem is given back to the community.


For more details visit - https://eraswaptoken.io/. Register today for this self sustainable ecosystem to get discounts, offers and rewards. Enrol on https://dayswappers.org/.