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The token for COMEARTH Metaverse shall be known as $ECOM.
$ECOM Token (also written as ECOM or $E) is an essential part of the COMEARTH Metaverse ecosystem. It will allow a smooth flow of value from one stakeholder to another within the COMEARTH Metaverse ecosystem.
$ECOM token is an ERC20 token deployed on Ethereum-based chains, mainly Ethereum & Polygon ERC20 Network.
$ECOM shall be the standard unit of value on COMEARTH. It shall be utilized for many activities - transactions, in-land parcel promotions, experiences, events, engagements, trade of goods, rewards, income through COMEARTH App Store, incentivizing good behavior, and all else.
Modern e-commerce works on supreme efficiency and ever-decreasing margins - Bringing crypto’s fluctuation into it is often disastrous for companies and their profits. Therefore, $ECOM has pioneered flexi-pricing that allows brands to stabilize product prices in USD as $ECOM automatically adjusts listed pricing to neutralize the impact of its market fluctuations.
While the platform is freely available for anyone to use and enjoy, holding $ECOM will allow the users to use the platform’s exclusive offerings & features, including premium assets, add-ons, customizations, access, and opportunities.
$ECOM token shall be used by COMEARTH and by brands & influencers on behalf of COMEARTH to reward users for positive behavior, including value-adding interactions, referrals, guidance, and support to fellow users, etc on the Metaverse.
Quests form a crucial aspect of engagement within COMEARTH - they are tasks that can be available to one, a select few, or all COMEARTH users that fetch rewards for the user completing them. While COMEARTH shall use quests to promote user engagements, brands can promote top-of-the-mind recall and product discovery, creators can gain access to newer audiences, and advertisers can reach a global mass directly.
Anyone Citizen of COMEARTH can create or utilize COMEARTH’s common quests to offer their users free ECOM tokens, thus incentivizing them for positive engagement on their land. Along with this, COMEARTH users can create quests that use $ECOM to reward users, contingent on them being approved by the team. Citizens can use their purchased $ECOM or custom tokens to run quests of their choice anytime.
$ECOM token will allow the users to purchase virtual land on the COMEARTH platform to launch their commercial establishment
$ECOM token is also a governance token that allows users to govern certain aspects of the COMEARTH platform & actively partake in the future direction of the Metaverse in true Web3 fashion.
$ECOM allows user to stake their tokens in exchange for rewards in $ECOM to fetch passive revenue from the COMEARTH platform fees. Users who stake $ECOM shall be given a unique distinction within the Metaverse that allows them to access exclusive offers and avail of premium benefits.
The $ECOM token uses the Polygon Network. We've developed a first-of-its-kind gasless transaction system to remove all crypto-related friction for in-game transactions. This means users do not have to figure out how to use an exchange to get MATIC into their wallet to submit transactions, they simply need to play in COMEARTH to earn $ECOM. When users in-game pay for an item, perk, upgrade, or do a transfer involving $ECOM, it's processed through our "gasless" forwarding node using meta transactions. This system is built open-ended so that anyone could build out their own "gasless" forwarding node and set their own $ECOM fees in the future so that the system is not reliant on a single node we manage.
COMEARTH will charge 5% of the transaction fees for each monetary sale on the platform. Along with this, there shall also be a fixed fee for every engagement on the platform - the value of this fee varies from industry to industry. After some time, the $ECOM token shall be the only mode of payment for these fees.
$ECOM token will be the mode of payment for the grants & rewards the Foundation offers to the community to support the high-quality engagement tools, apps & 3d models on the COMEARTH Metaverse.
COMEARTH will allow app developers & designers to design, write & publish the premium apps, games, quests, & 3d-models on the COMEARTH Metaverse ecosystem for other brands & influencers to use & engage on their lands. These premium offerings will be purchased using the $ECOM tokens only.
$ECOM tokens can be used by participants to tip, give or donate funds to influencers, creators, brands, or social organizations like NGOs.
We at COMEARTH are on a mission to disrupt modern E-Commerce. It’s monopolistic, wasteful, unsustainable, and frankly boring. Our vision to create a gamified social E-Commerce Metaverse that lets brands, creators, and consumers engage in a fun, meaningful universe while using Blockchain technology to drive good behavior and sustainable commerce means that we will be driven incessantly by this mission for the next 5-10 years. Our tokenomics reflects this - an ode to our commitment to significantly impact the $16 Trillion industry by combining the best of gamification, social media, e-commerce, and Blockchain under one platform. The entirety of $ECOM’s total supply has been allocated to different groups and entities in the ecosystem. To give everyone skin in the game, most tokens will remain locked for at least 1 year, with a significant part of the holdings released through small monthly unlocking. Out of the 5 Billion tokens, only ~3% are unlocked at the Token Generation Event (henceforth referred to as Day-Zero or D0). This shows our commitment to building a sustainable platform in the long-run, while ensuring the safety and security of the investments and, by extension, the trust, of our long-standing community of 80,000+ visionaries worldwide.
Our seed round shall see 10% of the total 5 Billion $ECOM coins allocated to a consortium of crypto investors from across the globe. To ensure all of our investors have skin in the game, the tokens allocated to them will be completely locked for 1 year. After the initial 1 year, 33% of their tokens will be unlocked, followed by a linear unlock for the next 24 months. The ECOM tokens are to be sold in seed rounds for $0.00540.
During our private funding round, investors will be allocated 4% of $ECOM tokens. Their equity unlock schedule shall be announced in more detail in the coming weeks. Still, the focus shall be on bringing in investors that add value to the ecosystem and incentivize them to drive engagement via a friendly vesting schedule.
The ECOM tokens shall be sold in this round at a price to be decided later.
A successful E-Commerce platform needs a growth engine for bringing in consumers. While COMEARTH is seeing tremendous response from global brands and creators, ensuring a fair and stable reward distribution for driving new users, good behavior, positive engagement, and long-term retention shall be imperative to ensure that COMEARTH can thrive in such a competitive ecosystem and change the way we perceive E-Commerce.
To ensure that COMEARTH is off to a flying start, 5% of the total reward pool shall be unlocked at Day 0, thus ensuring enough funds to incentivize the initial group of loyalists and brand advocates. Post this, rewards shall be vested linearly over a period of 2 years.
Learning from the mistakes of countless Blockchain companies, we decided to give ourselves only a 15% stake in the total circulating supply of $ECOM tokens. It was of the utmost importance for us to establish a level of trust with the community, which is why all of the tokens allocated to the development team will remain locked for 1 full year.
After 1 year, 25% of our allocation will be unlocked, while the rest will be unlocked in monthly linear vesting for 4 years.
While we wish to prevent speculation on $ECOM as an asset, we understand the value of monetary incentives, especially in a decentralized community like that of COMEARTH. This is why we have allocated a significant portion of our total supply to the ecosystem fund, which will see the funds distributed to projects and developers looking to add apps, assets, game designs, and other forms of value to COMEARTH.
A total of 14% of the circulating supply of $ECOM, has been allocated to the ecosystem fund, out of which only 8% shall be unlocked on day 0. Following the initial distribution, 7% of the tokens will be unlocked after 3 months, following which they will see 5% unlocked every month until the fund is depleted.
A great ecosystem relies on liquidity to keep things smooth. Our goal with the liquidity fund was to create a system that facilitates movement and action. The fund received 2% of $ECOM’s total supply, with 10% of these reserved tokens unlocked on day 0. The remaining 90% tokens will be unlocked quarterly over the next 24 months.
Incentivizing good behavior on the platform should start with the COMEARTH Foundation. This is why we allocated 20% $ECOM tokens to the foundation.
The entirety of their tokens will be locked for 9 months, after which only 10% of their holdings will be released. This will be followed by a monthly unlocking process lasting 12 months.
COMEARTH’s partners and advisors, while very important to the ecosystem, have a relatively small stake in the system. We shall allocate 5% of $ECOM’s total supply, to several companies and experts that support our network.
25% of the total allocation shall be unlocked on day 0 — the rest of the funds will remain locked for another 3 months. After the initial 3 months, tokens shall be unlocked linearly until 2 years.
The tokenomics vesting/allocation schedule may change if governance DAO votes