Ethernity Chain

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Discover Ethernity Chain's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Ethernity Chain?

Ethernity Chain (ERN) is a cryptocurrency that powers a community-centric platform for digital artists to create and sell limited edition, authenticated non-fungible tokens (NFTs). The platform combines NFTs with decentralized finance (DeFi) features, allowing users to farm unique NFTs, stake tokens, and participate in governance. A portion of each NFT sale is donated to charity, reflecting the project's commitment to social good. ERN is an ERC-20 token built on Ethereum, with a total supply of 30 million and a deflationary token economy. It is used for liquidity, staking, and governance within the Ethernity Chain ecosystem.

How is Ethernity Chain used?

Ethernity Chain (ERN) is a cryptocurrency token that serves multiple purposes within the Ethernity ecosystem. Here are some key ways ERN is used:

  1. NFT Farming: Users can farm unique Authenticated NFTs (ANFTs) by providing liquidity to ERN pools. This allows participants to earn ANFTs that can be traded like other cryptocurrencies.

  2. Staking: ERN holders can stake their tokens to earn interest. This staking program is designed to incentivize liquidity providers and rewards them with a yield that can fluctuate between 100% and 300% annually.

  3. Governance: ERN tokens are used for governance, allowing token holders to vote on proposals to make changes to the platform. This ensures that the community has a say in the project's development and direction.

  1. Purchasing ANFTs: ERN tokens can be used to purchase ANFTs, which are unique digital assets that are authenticated by blockchain technology.

  2. Deflationary Mechanism: The ERN token operates as a deflationary asset. When users purchase ANFTs with ERN, the tokens are collected and locked in a reserve smart contract for two years. This mechanism helps reduce the circulating supply of ERN tokens over time, contributing to a deflationary environment.

  3. Stones and Packs: ERN tokens are used to farm Stones, which are platform assets that can be redeemed for NFTs. Additionally, ERN is required to purchase Ethernity Packs, a series of curated NFT collections.

These uses highlight the multifaceted nature of the ERN token and its role in facilitating various activities within the Ethernity ecosystem.

How do I store Ethernity Chain?

To store Ethernity Chain (ERN) tokens, you have two options:

  1. Store in Your KuCoin Account: You can store your ERN tokens directly in your KuCoin account. This is a convenient option as it allows you to manage your tokens within the same platform where you purchased them.

  2. Hold in Non-Custodial Wallets: Alternatively, you can store your ERN tokens in non-custodial wallets. This option provides more control over your assets as you hold the private keys, ensuring greater security and flexibility in managing your tokens.

How to buy Ethernity Chain?

To buy Ethernity Chain (ERN) tokens, you can follow these steps:

Buying from Centralized Exchanges (CEX)
  1. Register and Verify:

    • Sign up on a centralized exchange (CEX) such as Binance, KuCoin, or Coinbase.
    • Verify your account by providing a government-issued ID and enabling two-factor authentication.
  2. Fund Your Account:

    • Deposit fiat currency (e.g., USD) using a payment method like a credit/debit card or bank transfer.
    • Alternatively, transfer existing cryptocurrencies like USDT, ETH, or BNB to the CEX.
  3. Buy ERN:

  • Use the deposited fiat or existing cryptocurrencies to buy ERN in the spot market.
  • Choose the desired trading pair (e.g., ERN-USDT, ERN-ETH, or ERN-BNB).
Buying from Decentralized Exchanges (DEX)
  1. Choose a DEX:

    • Select a decentralized exchange (DEX) that supports ERN trading.
  2. Set Up a Wallet:

    • Download and install a Web3 crypto wallet like Metamask or an App wallet like Trust Wallet.
    • Ensure the wallet is compatible with the chosen DEX.
  3. Buy ERN:

  • Go to the DEX page and use your wallet to buy ERN.
  • Follow the specific steps provided by the DEX for buying ERN.
Additional Options
  • Transak: You can also buy ERN using Transak, which allows you to enter the amount of USD you want to spend and select a payment method.
  • Other Exchanges: ERN is available on various exchanges, including Crypto.com, OKX, Huobi, and Gemini.

Remember to consult the specific exchange's customer service or announcements for any regional restrictions or tax implications.

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History of Ethernity Chain

Ethernity Chain (ERN) is a blockchain-based platform that allows users to create, buy, sell, and trade unique digital artwork and collectibles using non-fungible tokens (NFTs). The platform combines blockchain technology with artificial intelligence to ensure the authenticity and provenance of digital assets, making it a secure and transparent platform for digital transactions.

Ethernity Chain was initially launched as an NFT marketplace but has since evolved into an Ethereum Layer 2 platform, focusing on on-chain entertainment with enhanced AI-driven security. This transformation positions the platform to support global brands in transitioning their franchises onto the blockchain, with a projected market size of $3.5 trillion by 2030.

The project was founded by Nick Rose Ntertsas, an environmentalist and long-term Bitcoin investor who aimed to create a socially conscious platform that combines art, philanthropy, and cryptocurrency. Ethernity Chain has collaborated with renowned artists and brands, including Muhammad Ali, Lionel Messi, Snoop Dogg, and Tony Hawk, among others.

The native Ethernity Chain token (ERN) is used to provide liquidity to ERN pools, enabling participants to farm unique Authenticated NFTs (ANFTs) that can be traded like other cryptocurrencies. ERN holders can also stake their tokens to earn interest and participate in governance by voting on proposals to make changes to the platform.

Ethernity Chain has a strong focus on charitable causes, with a portion of each ANFT sale being donated to charity. The platform's community-centric approach and hybrid utility of NFTs and decentralized finance (DeFi) have contributed to its growth and popularity in the crypto space.

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How Ethernity Chain works

Ethernity Chain (ERN) is a cryptocurrency built on the Ethereum blockchain, utilizing the proof-of-stake consensus algorithm. This algorithm is considered more energy-efficient compared to the commonly used proof-of-work algorithm. The ERN token is an ERC-20 token, which enables smart contracts on the Ethereum blockchain.

Key Features and Functionality
  • Ethernity Marketplace: The platform allows users to purchase authentic NFTs directly from famous individuals, ensuring the authenticity of the NFTs. NFT transactions occur on-chain, providing verifiable ownership.
  • Deflationary Ecosystem: When users purchase NFTs with ERN, 75% of the collected tokens are locked in the Ethernity Chain Reserve smart contract for two years. These tokens are then periodically unlocked and used to refuel the Staking and Rewards Pool for Liquidity Providers, creating a deflationary environment.
  • Staking and Rewards: Ethernity Chain offers a staking program for liquidity providers, where participants can earn rewards by staking ERN tokens. The staking lockup period is 30 days, and the annual percentage yield can fluctuate between 100% and 300%.
  • Ethernity Stones: Users can farm Stones, which are platform assets that allow them to redeem NFTs from the Ethernity Chain collection. Stones are earned exclusively by using ERN tokens and are non-transferable.
  • Ethernity Packs: These are curated NFT collections starring different artists and NFTs of varying value. Packs are available on the Ethernity Chain platform and can be purchased using ERN tokens.
Use Cases and Investment
  • Purchasing NFTs: ERN tokens can be used to buy authentic NFTs from famous individuals on the Ethernity Marketplace.
  • Staking and Farming: Users can participate in staking programs and farm Stones to earn rewards and redeem NFTs.
  • Governance: ERN token holders have governance rights, allowing them to vote on key changes to the Ethernity platform.
  • Investment: ERN tokens can be purchased on various exchanges, such as Binance and Uniswap, making it a potential investment opportunity.
Charity and Community Focus
  • Charitable Donations: A portion of each NFT sale is donated to charity, supporting various causes.
  • Community Engagement: The platform encourages community participation and engagement through various incentives and programs.

Overall, Ethernity Chain (ERN) is a DeFi-NFT crossover project that combines the benefits of decentralized finance with the unique features of non-fungible tokens, creating a community-centric ecosystem with a focus on charity and authenticated NFTs.

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Ethernity Chain's strengths

The token Ethernity Chain (ERN) has several strengths that contribute to its value and potential:

  1. Community-Centric Ethos: ERN is key to maintaining a community-centric ethos within the Ethernity Chain platform, which focuses on digital artists and charitable causes. This ethos helps to ensure decentralization and community involvement.

  2. DeFi Utilities: ERN possesses a variety of DeFi utilities, making Ethernity Chain a DeFi-NFT crossover project. It provides liquidity to ERN pools, allows users to farm unique authenticated NFTs, and enables staking to earn interest.

  3. Governance: ERN token holders have governance rights, allowing them to vote on key changes to the Ethernity platform. This ensures that the community has a say in the project's development and direction.

  1. Deflationary Ecosystem: The ERN token operates as a deflationary asset. When users purchase authenticated NFTs with ERN, the tokens are collected and locked in the Ethernity Chain Reserve smart contract for two years. This cycle reduces the circulating supply of ERN, which can positively impact its value.

  2. Staking and Rewards: Ethernity Chain runs a staking program for liquidity providers, offering annual percentage yields between 100% and 300%. This incentivizes users to participate in the ecosystem and support the platform's liquidity.

  3. Charitable Component: A portion of each authenticated NFT sale made through the Ethernity Chain platform is donated to charity, adding a social good aspect to the project.

These strengths contribute to the overall value proposition of the ERN token and the Ethernity Chain platform, making it an attractive option for those interested in NFTs and DeFi.

Ethernity Chain's risks

Ethernity Chain (ERN) carries significant financial risks due to the inherent volatility of the cryptocurrency market. The value of ERN can fluctuate widely in a short period, making it a high-risk investment. Additionally, the decentralized and non-regulated nature of cryptocurrency markets increases the risk of losses.

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Did Ethernity Chain raise funds?

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Ethernity Chain’s team

  • Nick Rose Ntertsas: Co-founder and CEO of Ethernity Chain, leading the project to revolutionize entertainment experiences by leveraging web3 capabilities.
  • Mr. Mac Pholea: Chief Engineer, responsible for the technical development and infrastructure of the Ethernity Chain platform.
  • Evangelos Diamantis: Chief Financial Officer, overseeing the financial strategy and operations of the project.
  • Adrian Baschuk: COO, managing the operational aspects of Ethernity Chain.
  • Steve D'Agostino: CMO, responsible for marketing and promoting the project.
  • Danilo Carlucci: VP of Partnerships, focusing on building strategic partnerships and collaborations.
  • Rebekah Keida: VP of Talent and Product Marketing, handling talent acquisition and product marketing efforts.

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