What is ETHYS ?
Ethereum Stake (ETHYS) is a staking coin, designed to help users better reap the benefits of Ethereum 2.0. ETHYS exists within the Ethereum Yield ecosystem, and like it also implements pump-e-mental concepts to protect price and punish weak-hands.
Ethereum Stake is a subsidiary project of ETHY.
This project hopefully is the first of many built upon the Ethereum Yield ecosystem. This projects will bring new ETH2.0 and staking opportunities and benefits to ETHY Holders.
Token Metrics Overview:
|Token Name:||Ethereum Stake|
|Total Supply:||500,000 ETHYS|
|Features:||Fixed Supply (No Minting) (Burning allowed) (Transfer Fee)|
Non-Inflationary Mechanics: – ETHYS implements a strong force on each token. As part of the price protection mechanism, ETHYS may be burnt there will never be more than 500k ETHY.
Community Control – ETHY and ETHYS holders will be able to vote on proposals– so long as they have staked liquidity in the pools. The community will decide everything from developer fees, ETH2.0 validator actions, and other changes.
Building on the Ethereum Yield Ecosystem:
Ethereum Yield provides a farming platform for DeFi projects. Ethereum Stake is the first project to launch within this eco system, Ethereum stake opens protocol and community up to more advanced staking, eventually including ETH 2.0 validation and staking.
Farming with ETHYS-ETH LP:
Users are able to deposit ETHYS-ETH liquidity pool tokens into the ETHY farming contract (Using poolID 1). Users will be able to collect some ETHY for providing liquidity for ETHYS.
How does ETHYS benefit ETHY (and vice versa)?
These two coins live in symbiosis. Ethereum Yield is the foundation coin, and Ethereum Stake is an expansion, bringing new opportunities to the ecosystem.
ETHYS supports ETHY, as a percentage of the total raised during the ETHYS pre-sale will be used to directly buy ETHY (pumping the price). Secondly 10-50% of ETHYS transfer fee (detailed below) will go to ETHY price protection budget – again allowing buy-backs of ETHY. Finally ETHYS will Integrate with ETHY staking and provide rewards to ETHY users.
ETHY provides a farming pool and rewards to users who provide liquidity for ETHYS. ETHY will also integrate future staking pools directly using the ETHYS platform.
Transaction fee (Weak hand tax):
Weak hands hurt everybody, so good coins must design to mitigate this activity. Like ETHY we introduced an extra transaction fee, which serves two protective purposes: Firstly the fee reduces the prevalence of bots and discourages panic sellers who drive the price down, by taxing them. Secondly this fee is distributed to the farmers, rewarding them for holding.
- Maximum fee is 10%.
- Users can earn the fee by staking.
- 10-50% of the fee will go towards the ETHY price protection fund.
Locked Liquidity (Anti-Rug Mechanisms):
ETHYS is built by the same team behind ETHY, the team that locked 700 ETH of liquidity forever. We will be permanently locking liquidity for ETHYS also. And 80% of the teams ETHYS holdings will be deposited into the primary staking contract as rewards.
The ETHYS community is also incentivized to lock liquidity in an ETHY Vault for rewards. The minimum duration of this lock is 4 months, this provides additional liquidity stability.