Just because I can
Today I want to talk about a project co-founded by @abrockman, where a number of experienced people from crypto combined their brains and founded a project. Now, the latter is of course not so strange. New projects are founded in crypto every day. Nothing special about it. That this is a fork of Tomb Finance is perhaps not so special. They are not the first Tomb fork. But where it starts to get more special is that this fork of Tomb is pegged to Ethereum! Today we are going to talk about EMP MONEY.
Tomb Finance Fork
And just to start at the beginning, I mentioned that EMP is a fork of Tomb Finance. This means that EMP is an algorithm protocol. Just like Tomb is on the Fantom Blockchain, EMP is on the Binance Smart Chain. However, there are also differences. And you don't notice that immediately when you look at the websites, but you do notice it when you delve further into what they have to offer.
EMP is pegged to ETH
Where Tomb has pegged their coin to the Fantom, EMP has pegged their coin to Ethereum with a ratio of 4000 EMP is 1 ETH. The latter is an important piece of information to remember because that peg is important for an algo protocol.
Keep the boardroom printing
Why? Because you want the boardroom to keep printing. As long as the EMP is over peg, this boardroom will continue to print EMP. Think of the boardroom as a money printer! To be able to use this it is necessary that you have staked eShares in the boardroom. And the ETH/EMP and BNB/ESHARES farms print eShares for you!
High APY
So by buying EMP and pairing it with ETH in the farm you earn eShares, which you then place in the boardroom, after which the boardroom prints more EMP for you. And the APY in the boardroom is high! Even with a small amount of eShares you can already get a nice benefit from this.
Avoid sell pressure on EMP
But there is one little thing you should pay attention to. In order to keep the protocol healthy, it is of utmost importance that you do not buy eShares blindly. Also, you are not supposed to dump your EMP for more eShares. Because if people are all going to dump their EMP, then EMP is going under peg… which means you have to go buy eBONDS to get the protocol back on track. The moment EMP goes under peg, buying eBONDS is the way to burn EMP. You buy your eBONDS with EMP. The EMP is burned with this, and thus the liquidity of EMP is reduced in this way. If enough people buy eBONDS, the price of EMP will go up again due to the reduced liquidity after which the boardroom can start printing again.
Debt Phase
After this, a debt phase begins in which 60% of the printed EMPs will go to the treasury to cover the costs that come later when people start redeeming their purchased eBONDs. And although of course there are always people who do that as soon as possible, it is much more beneficial for you (and for the protocol) to wait longer before you start redeeming your eBONDs. The higher the peg gets, the bigger the premium is when you redeem your eBONDs. See the eBONDs as a piggy bank that you can put in if things go really well, and you want something extra.
EMP IS KING!
So the most important thing about the protocol is to ensure a stable price of EMP so that EMP can remain over peg.
Sustainability
But at EMP.MONEY they know very well that it is difficult for many people to get that mindset. Hello, we're talking about DeFi here, cutting edge moving. That's what most DeFi whales love to do. They are not after sustainability, UNLESS this is another way to structurally make EVEN more. This is one of the reasons that many algo protocols have a hard time keeping their peg, or getting back to their peg once they go under. Another reason is the ignorance of many people. Everyone starts somewhere in DeFi, and there is a first time for everyone. You can't blame anyone if they don't immediately understand how the protocol works. But they also know that at EMP! Where you see with every algo protocol that the team tries to teach the community how it works, at EMP they go a step further!
How?
If you have a YouTuber on your team who has over 5K followers, you can do something with that! If you have someone in your team who comes from the corporate world and has built several million businesses, you can benefit from that knowledge. If you have a developer on your team who isn't good at marketing but is a wizard with code, it would be a shame to limit him to just modifying the code of the protocol you were forked from. And if you have a few people in your team who are extremely good at communicating and who can steer a community, then you should also use those talents. All these talents together in ONE team makes EMP unique. And that such a unique and experienced team will come up with something innovative, to strengthen their protocol, is not an empty prediction, but a fact!
Let's take a look at the team at EMP first, and then at the innovative additions that make EMP distinctive in the world of algo protocols.
Team!
Let's take a look at who is on the EMP team and what their backgrounds are. And then we see the following;
@abrockman, aka AJ, aka “COMMANDER”.
This of course indicates that AJ plays an important key role within EMP. And that's not so crazy. With his background ranging from award winning artist to self-made crypto millionaire, and many ways in between, AJ naturally has a wealth of experience to contribute. And oh, did I mention that AJ is a longtime hiver who is very passionate about @splinterlands and many other projects on our blockchain? For all splinterlanders, ZEN Sports is of course a well-known name, well prepare yourself. Because under the leadership of AJ, there is now also a collaboration between ZEN sports and EMP. This is only one of the collaborations, by the way.
The next in the team is not to be missed. We're talking about here;
“Demi”, aka “THE COMMS SERGEANT”
Demi has a background in Sales & Digital Marketing. In addition, he masters SEO, Web design and Marketing, he is an influencer and he is the force in the background when it comes to networking.
The next key person in the EMP team is;
Luniz, who has been nicknamed “THE HANDSOME”
According to the description only in the team because of his good looks, but for me as an investor a number of other qualities are much more important. I am talking about his Bachelor in Finance and Management, his Master in Real Estate Management and Construction Project Management. Before entering crypto, Luniz worked in investment banking, mostly portfolio management and later was managing private investments.
Funfact, Luniz is a former professional tennis player. And if you dive into EMP's telegram group you will often encounter Luniz. Together with the next person on the list, he does most of the community management.
And the next team member is;
Marty aka “THE CREWMASTER”
Marty is relatively new to crypto compared to the other team members. But in that relatively short time he has already earned his footsteps well. He started learning coding in the first lockdown. Back then, it was mainly focused on BTC and general blockchain. As should be clear, he has shifted his focus to ETH and DeFi. Marty was involved in several projects with a high impact in the Defi ecosystem and together with Luniz he is an extremely talented people person sharing the responsabilities of leading EMP community to success.
Also not entirely unimportant in the team;
'0xCHAD' - The Prophet
The Full Stack web2 & web3 software engineer! Has experience in a variety of strategies and projects; including flash loan arbitrage, AR/VR development, and defi apps.
Straight to the point and focused on the goals the team sets in terms of growth and development. A wiz with solidity and code generally speaking.
Coding is what he is good at, he is very important to the other team members, and to prevent him from being hijacked they have locked him up. Then he can work undisturbed in what he loves best, push EMP to great heights, implement new developments quickly, and to make sure he stays satisfied, he is offered some food and drink every other day by his team members. Everything for the EMP community!
And then there's a 'vain Texan' who likes to share his knowledge, both in the EMP Academy and via YouTube
'Crypto Mike' - The Hype Mike Professor
Mike has successfully set up his own business, (Rekt to Riches). We are confident that we will experience the Riches side with EMP! After becoming self-sufficient with this, Mike joined DeFi in 2017. Here he learned to navigate the Crypto winter, and eventually came out of the Crypto winter with much more.
One of the things that Mike picked up in the Crypto winter among other things is even more commitment, and the knowledge that KNOWLEDGE is important! Knowing what you are doing, understanding what you are doing, understanding how a project works. Understand how to support a project to maximize your own benefit.
His channel on YouTube was therefore created to share his knowledge with other people. To encourage people to want to learn. Mike is a firm believer in education and networking! Mike has built a following as a cripto influencer and personality due to his candour and based personality.
He has been involved in several prominent projects giving him a very privileged position in several defi ecosystems.
Even more innovations
Now that you know all this about the team, and see what kind of knowledge is available, you can imagine that EMP is not just any project. It is a project with ambitions to grow into a top 100 project in the coming years. EMP is an innovative project with a long-term vision!
And next time I'll write about one of EMP's innovations that is definitely worth a look, as a long-term investment!
If, after reading this blog, you have become so curious that you are already going to look, and maybe invest, I would really appreciate it if you would use my referral link above!
See ya soon with the next one!
Posted Using LeoFinance Beta
