To better understanding ETHYS, we can compare it some other coins to see what unique features it brings to the ETHY ecosystem.
Difference with ETHY
The first important thing to note, is that this coin, ETHYS, does not compete with ETHY, in-fact, they are sister coins, part of the same project: Think of ETHYS as an expansion pack on the ETHY project.
In simple terms:
- ETHY is a farming platform
- ETHYS is a staking platform, ready for Ethereum 2.0
ETHY / ETHYS comparison table:
|Is it a Farming platform?||✅ YES||❌ NO|
|Is it a Staking platform?||❌ NO||✅ YES|
|Includes Weak-hand tax||✅ YES (max 25.5%)||✅ YES (max 10.0%)|
|Can it perform ETH 2.0 Validation?||❌ NO||✅ YES|
|Supports Multi-asset rewards?||❌ NO||✅ YES|
|Supports Binance Smart-Chain?||✅ YES||SOON|
However users of ETHY may notice that ETHY currently supports a single staking pool: Entrance to the ETHY staking pool will be closed, and migrated to the ETHYS staking platform in 2021.
Differences with CORE
Because of the transfer fee the ETHY project (including ETHYS) is often compared to CORE. Although these projects have some similarity, there a number of fundamental differences between CORE and the ETHY/ETHYS project. Below is listed some of the advantages we think this project has over other alternatives like CORE:
- ETHY aims to be a platform for projects. For new projects it provides extra incentives for users to to provide and lock liquidity, making things more stable for all.
- ETHYS aims to be a staking platform, allowing new projects exposure, and to incentivise users to HODL by staking.
- CORE is not a platform.
- In 2021 ETHYS will expose the ETHY project to Ethereum 2.0 profits. Users will be able to deposit any amount of ETH to participate in Ethereum 2.0 staking and validation. A percentage of the 'mining/validation' rewards will be redistributed to ETHY/ETHYS holders.
- CORE has no plans for ETH 2.0 validation.
NO SUNK COSTS
- To earn with CORE users must deposit tokens that can never be withdrawn, in the hopes that they will eventually make back there initial deposit from mining fees.
- To earn with ETHY/ETHYS users deposit there tokens for a limited time. At the end of their deposit period users can reclaim there tokens avoiding the strict sunk costs that CORE users incur.
- ETHYS transfer fee can is capped at 10%.
- CORE transfer fee can theoretically be set up to 25.5%.
- ETHY transfer fee can theoretically be set up to 25.5%.
- Just like with the launch of ETHYS to support ETH 2.0, and binance chain integration the ETHY project will continue to be ambitious and take necessary steps to grow.
- Despite existing for a longer time the CORE project has not made any large changes or improvements to the protocol.
ETHYS is the perfect addition to the Ethereum Yield Ecosystem. We believe this marriage will make both coins stronger going forward, and through Ethereum 2.0 integration we will bring more returns to holders.