ETHR - Ethair Token
TOTAL SUPPLY: UNCAPPED
INITIAL SUPPLY: 2 MILLION
BLOCKCHAIN: ETHEREUM (ERC-20)
ETHR is an Ethereum based token (ERC-20) on smart contract standard with no maximum supply cap. The initial creation of the token minted a total of 2 million tokens, and it will be used to supply the signup bonus pool, governance account, and gap insurance. New ETHR tokens can only be minted as users exchange their platform reward Points for ETHR tokens through our automated minting process. This is the only way that additional tokens are created and promotes platform utilization. Learn more about our smart contract functions below.
ETHR token was designed as a utility token to be used on Ethair Market in order to allow customers to enjoy discounts on internal advertising, reduced transaction fees, and bid on exclusive ETHR token holder ad spots as well as participate in ETHR token governance voting by its holders.
FVF (Final Value Fees)
Holding a balance of 100 ETHR in your account will give you a 10% discount on your FVF fees for every sale.
By paying advertising fees in ETHR token, sellers will receive a 15% discount on advertising fees vs paying in fiat.
Gateway Transaction Fees
When paying for an item in ETHR, payment gateway settlement fees are waived. You no longer need to give a usual 2.9% + $0.30 to a payment processor.
By holding a certain amount of ETHR token in your Ethair Market account you are granted access to our 0xHello platform, a next generation social platform that allows you to purchase and sell content within posts. More information coming soon.
Governance Voting Rights
ETHR holders have the privilege of being able to vote on certain token matters
Ads + Exclusive
ETHR holders have access to exclusive ad spots which can only be paid with ETHR.
SUPPLY AND DISTRIBUTION
ETHR token has been created with an initial supply of 2 million tokens. A portion of the supply has been designated to be distributed as a part of an early signup bonus, thus allowing those users to participate in early governance decisions on the remaining ETHR supply outlined by Ethair. Please refer to the graph below for the initial ETHR token distribution.
Reserved for ETHR holder's governance voting on decisions related to its further allocation.
Reserved for Ethair Market early registration reward via landing page.
Reserved for ensuring a constant supply needed for withdrawals between scheduled token minting periods.
The company (Ethair) has no initial share in the ETHR token supply. However a share is generated by user minting.
Smart Contract Functions
When a user requests to exchange their points into ETHR token our smart contract first gives them a platform-exclusive bonus of 10% more than the value exchanged in ETHR token. It then multiplies the request by two. The newly minted ETHR tokens are then distributed to the user and used as supply in the following token pools:
User receives the tokens minted for them via minting function and receive a 10% bonus. Tokens are reflected in users Ethair account.
25% of tokens minted are deposited to the referral pool, which is then used for reward distribution to users who refer new verified users to the platform. Rewards are paid out monthly for a full year. Find out more from Referral reward program doc.
25% of tokens minted are deposited into a company owned account. These tokens can be used for (but not limited to): promotions, partnerships, employees
HOW TO ACQUIRE
Currently ETHR tokens can be procured via our minting function. The points users collect from every transaction on Ethair Market can then be converted into newly minted ETHR tokens. The token is also listed on Uniswap exchange as per community vote.
SUPPLY INCREASE EXAMPLE
Initial ETHR token supply is set at 2 million. However through platform use, users are able to mint new tokens hence increase the circulating supply. Below is an purely theoretical example showing a yearly amount of ETHR minted based on a simple estimate.
Ethair Market Yearly Sales
10 M USD
Total point value distributed
0.3 M USD
Points used to mint tokens*
Total tokens minted for the years
Current price of token
*Points have their own functionality on the platform and do not have to be used to mint tokens. It is up to users discretion if they want to mint tokens with points.
**Fictional estimated number
***Price per token not guaranteed or suggested to be $1.00 it is used as example only