Global adoption takes its course and continues to expand a new trend shift. In the age of data, privacy, and other Internet-related issues, we are witnessing a progressive crypto boom during 2019 that focuses on simplifying and expanding ecosystem services and applications. In this line of events, the Ecom platform presents version 4.0 of its wallet.
For those interested in downloading, it can be found in the App Store (iOS), Google Play (Android), and APK File (Android). The wallet is compatible with the storage, reception and sending of contrasted cryptocurrencies and tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance token (BNB), 0x (ZRX), Maker (MKR), Basic Attention Token (BAT), Huobi Token (HT) and VeChain (VET).
It also has secure, stable tokens (stablecoins) such as True USD (TUSD) and USD coin (USDC). In addition to offering a range of pairs that will grow progressively, the wallet is compatible with cash withdrawals, receipts, and other functions including exchanging with the ECK token quickly. All complicated operations become waiting-free and straightforward for users, thanks to a system managed by artificial intelligence (AI) and EcomToken’s smart contracts.
Automated technology for fast order management with BotTrader
Through the Ecom wallet, the platform can tokenize all products bought and sold in the system; mainly thanks to the exchange pair in its native ECK token. The ECK/BTC swap pair will provide a good part of the liquidity and will activate the artificial intelligence gear that makes quick exchanges happen. This type of automation guided by smart contracts will feed an entire order network that will make the BotTrader service possible.
BotTrader offers an easy way to manage a wide range of orders. From placing a single order to thousands of them; by this, we mean wholesale orders (whether buy orders, sell orders or both). By offering this service, scanning low point purchases on all pre-programmed exchanges are automated. Combined with automatic market scans, BotTrader also scans the upside outlets on those exchanges.
When there is a price difference, the opportunity to arbitrage the price appears, and BotTrader performs thousands of trading orders at both ends with the price difference. Therefore, BotTrader not only facilitates maximizing the profit potential for the users but also has liquidity characteristics for the user’s portfolios.
Virtual and physical cryptographic card
By obtaining a reliable and instantaneous liquidity base, the system will support the payment network planned in the technical documentation. On society, we can see how the cash in bills and coins is beginning to be margined. Smart device wallets and personal bank cards capture a large percentage of the total spend on normal operations.
It is for this reason that a system designed to support thousands of operations needs simplification in the use of stored funds. The ecosystem is designed to be able to withdraw funds from the portfolio at any time. Either through withdrawals or payments. When it comes to payments, Ecom’s virtual and physical cryptographic card offers the versatility and convenience of everyday life. Linked to its platform account, it provides the comforts of traditional systems; so the adoption barrier seems to fade over time.
The distribution and technology of the ECK native token
The native token of the project is the ECK token, being a utility type token. The platform focuses on trade and therefore will not own a blockchain itself, has been chosen Ethereum, being the most adopted for platforms of its kind. As a utility token under the ERC20 standard, it offers general uses to release every one of the platform’s functions.
For a fair and equitable distribution, a token acquisition plan and percentages assigned to the token sale, reserve, reference program, core team, partners, and advisors have been devised. The total market offer is 101 million ECK tokens distributed based on the following proportions:
- Tokens are offering – 38%
- Referral Program – 25%
- Reserve – 22%
- Team, partners, advisors – 15%
Allocation of the funds collected in the sale of the token
An internal fund allocation plan accompanies the distribution of the tokens described above. This plan is posted both on the website and in the corresponding technical documentation. We proceed to break it down:
Technological development 15%. Technology, products for the platform, new products, and updates of ecosystem characteristics.
Commercial development 15%. This is one of the pillars of the project, even more so in the newly created company phase. It is orienting to implement a brand image recognized, respectable, modern, and backed by an active user base and constituting business development by building value-added joint ventures with industry leaders.
Marketing 10%. Global promotion and orientation of the EcomToken ecosystem. It also ensures visibility in the sector.
Operations 40%. Active financing of the necessary operations and legal bases, as well as advice, are required to start. The planned robust infrastructure will lay the groundwork for a stable future for the ecosystem in the medium and long term. This ranges from liquidity for automated operations to the maintenance of excellent performance, legal assistance, and customer support.
Ecosystem development 20%. The secured funds guarantee the complete development of the Ecosystem offer the peace of mind of remaining outside the funds allocated for liquidity and other diverse goals. Therefore, developers and ancillary teams will be able to stay focused on the development and implementation of a seamless global ecosystem.
Can the native ECK token be mined?
The issue model of the ECK token is not linked to PoW mining. Instead, Token Holders will be encouraged to maintain them through a daily interest. Platform users can deposit ECK tokens into EcomToken’s portfolio to enjoy the resulting calculated interest regularly. This model promotes the adoption of the token by withdrawing it from the markets to the user’s portfolios. This and other initiatives seek to establish a strong base of users and early holders.
To calculate the daily interest to be received, the value of the conversion to US dollars (USD) will be taken as a reference; that is, the ECK/USD pair will be calculated. According to this exchange rate, the daily interest to be received will be calculated. Note that the reference source for obtaining the price will be taken from the metrics publicly exposed in Coinmarketcap.com.