A New Way To Play

Cryptocurrencies like Bitcoin have a certain appeal because they use blockchain to enable users to exchange money securely without having to go through a centralized source, like a bank. The blockchain system allows people to trade money in a pseudo-anonymous, direct form online. It’s like being able to hand someone cash while being miles away.

Applying this idea to crypto games, the system allows for game assets to be shared on a public blockchain instead of stored in centralized servers. Players would be able to see the core basics of games they are playing and accessible assets opens up worlds of possibility for both players and developers.

Did you ever hear about the necessity of NFT or Non-Fungible Token? If no, then let me clear it first. NFT stands for “non-fungible token.” An NFT is basically data that is stored or accounted for in a digital ledger, and that data represents something specific. The recording (or ledger) where that token is certified as proof of ownership is called a blockchain. And here is ETNA. Let’s go to be introduced with ETNA NETWORK.

ETNA brings a new way of facilitating a gaming ecosystem leveraging the NFT assets and conventional games onto the blockchain platform. As a DeFi project amalgamating the functions of yield farming and NFTs, Etna now ventures into Lending and borrowing via cryptocurrency networks.

ETNA Lending and Borrowing Functions

The trading platform that also includes lending and borrowing sequences is named ETNA. This dedicated platform runs on the tenets of the Binance Smart Chain and aims to support the adoption of the DeFi technologies. ETNA’s adoption of the DeFi technology is done to deliver customer-centric solutions.

Lending and Borrowing on ETNA is programmed to be simpler and supports a larger extent of use cases. On ETNA, the users can secure a loan against NFTs as a collateral. So, any NFT owner can provide their NFT to the lenders and get a loan. For users staking the native ETNA tokens as collateral for the loans, no interest rates are charged.

When it comes to the DeFi-oriented aspects of the platform, users can now lend and borrow, transact in the marketplace, and engage in regular contests to earn rewards.

Comprehensive Market-Ready Functions

The marketplace proffered by the platform represents a mix of DEX trading and Broker-Buyer functions which is an improvement from the existing system with a similar approach. The marketplace, which is also called a Hephaestus workshop, works as a comprehensive marketplace.

The Hybrid Marketplace has integrated gateways and can be used to trade products. These multiple gateways will allow the users to transact in different cryptocurrencies. The payment gateways are built in a manner that any user can make payments without owning multiple payment wallets.

ETNA Tokenomics

The total supply of ETNA tokens is 100 million. The entire token supply is divided into various aspects that include staking, the marketplace, presale, liquidity, partnership, development fund, team, and foundational. The team allocation, partnership & development funds, plus the foundational allocation fund, is locked for a fixed period. For the presale, it is scheduled to happen on the 21st of March, 2021.

Utilization of the ETNA Tokens

The ETNA tokens are native to the financial platform. It has four central use cases, which includes Lending transactions, NFT Market transactions, BBT Marketplace, and Game Asset Value.

For the lending transactions, the ETNA tokens can be used to submit the collateral and get interest-free loans. ETNA tokens will be the preferred currency in the NFT market and required to gain its membership.

Since the marketplace works on a hybrid model, the brokers need to become a member for facilitating the transactions. The membership fee has to be paid in ETNA tokens. The last use case of ETNA is with reference to the Game Asset valuation, where the token is used as a store of value for buying the game-related assets.

OxBull’s Role in the Partnership

Oxbull is an incubator helping platforms like ETNA gain awareness, attention, customer base, and market.

About ETNA

ETNA’s reward-generation features and functions lets the users engage with the platform in multiple ways. The users can get a loan based on some collateral from the lenders who are also present on the same platform.

By keeping the ETNA coins as collateral, the users can get interest-free loans and others can get lower-interest loans.

The Ambassador Program

ETNA Network is pleased to announce that we have incorporated an additional rewards/bonus program for our loyal users, this rewards program is called “The Ambassador”

The Ambassador Program is based on a Proof of Commitment type algorithm where users of DeBank are rewarded, or airdropped bonus tokens based on how committed they are.

Two parameters are measured to quantify users’ commitment, these are:

1. The amount of Stable coins or amount of ETNA deposited into DeBank

2. The duration of this deposit.

With this parameter, the quantity of bonus rewards for each user are determined.

The ambassador program will also rank users based on this commitment metric and will give them interesting membership titles. You can be rest assured, a lot of interesting and benefiting features will come with the Ambassador program.

As we all know, we are focused on deploying our mobile app, a multi-blockchain wallet app with DeBank, NFT marketplace, token swap feature and more embedded. For this reason, The Ambassador Program Tab will delay a bit.

But here is the good news, though the tab for this new feature will delay a bit, the bonus program that comes with it will start immediately.

Who qualifies for the additional rewards?

1. Users who deposit at least 500 BUSD or USDT or DAI into DeBank. Users can qualify on multiple deposits, i.e, a user who deposits 5000 BUSD and 1500 USDT will qualify for 500 ETNA in bonus and 150 ETNA in bonus from respective deposits

2. Users who deposit a minimum of 1000 ETNA into DeBank

How often are Bonus rewards airdropped to users?

As it has been mentioned, the reward is paid out is based on commitment therefore only users who make one or more of the above deposits and keep it deposited for at list a month will get paid rewards bonus.

Examples:

A. If a user deposits 5000 BUSD and 1500 USDT . The user left the 5000 BUSD for over a month but withdrew the 1500 USDT after 20 days, the user will only get bonus airdrops for the 500o BUSD

B. If the user withdraw 500 USDT out of the 150O USDT deposited, the commitment count starts all over and if the remaining 1000 USDT still in deposit stays in deposits for a month, then the user will qualify for bonus for the 1000 USDT.

C. The same goes for ETNA, If user deposits 10000 ETNA, he will also qualify for bonus each month the deposit remains in deposits.

Note: Users can qualify for rewards each month. Take for instance, the user who deposited 5000 BUSD. If the user left the 5000 BUSD for 4 months and 10 days, he will qualify for bonus rewards 4 times, one for each month the deposit clocked.

Additional conditions for bonus rewards:

For users who deposits ETNA, only deposits that are not used as collateral for loans will count. Any amount of ETNA that has been used as collateral for loan will not count.

First Bonus Allocation:

For the month of July, the following amount of ETNA have been allocated for bonus rewards.

1. 100,000 ETNA in bonus rewards for stable coin deposits (BUSD, USDT, DAI)

2. 100,000 ETNA in bonus rewards for ETNA deposits

Reward structure:

Stable coin rewards structure (minimum of 500 BUSD, USDT, DAI):

Deposit of 500–999: 50 ETNA in bonus

Deposit of 1000–1499: 100 ETNA in bonus

Deposit of 1500–1999: 150 ETNA in bonus

Deposit of 10,000–10,499: 1,000 ETNA in bonus

Summary: Every multiple of 500 stable coin deposits earn you 50 ETNA in additional bonus

ETNA rewards structure (minimum of 1000 ETNA):