TimeAlly: A real distributed system:
Era Swap has meticulously chalked out a path towards being distributed and decentralized in a true sense. TimeAlly is really a matchless proposition by Era Swap to increase the demand for tokens and make the entire ecosystem ‘distributed’ in a right sense. Incentives such as power token empower ownership of each token holder on platform and the entire ecosystem, in turn, towards decentralization.
TimeAlly is a solution to reduce volatility:
Era swap is endeavoring to tackle the glitches coming in the way of TimeAlly holder community members by using Era Swap smart contract called TimeAlly that governs a distribution by pre determined rules based on proof of stake of EST (Era Swap Token).
TimeAlly is a strong solution to reduce volatility. Once when volatility is being reduced by restricting the supply of tokens, the demand of tokens will rise and hence the value of tokens will rise too. This way, TimeAlly offers benefits for all its users by increasing value and decreasing volatility.
Benefits of TimeAlly:
The decrease in volatility will encourage Time Swappers to trade services on the platform as the value of their tokens remains more stable and cushions users from derastic cryptomarket volatility.
Also, reduced volatility will encourage more and more sellers to join the platform to trade time comfortably as they do not have to worry about the ‘changing value of their worth’.
Another subtle aspect of Time Ally is the fact that on one side it sucks the supply out of the market and on the other side, as a by-product of reduced volatility, it boosts the demand. Once the demand gets boosted, the value of the tokens will rise to benefit the TimeAlly holders.
For investors who do not want to get into excessive day-trading but anyhow wants to maximize count of tokens their tokens, TimeAlly has a wonderful solution. Investors who choose to use TimeAlly will keep increasing their tokens, and with the reduced supply, the worth of EST is expected to go up as well. So, investors who wish to just hold, benefit from an increase in the number of tokens as well as the value.
To give the platform a truly distributed structure, TimeAlly is carefully constructed to reward every single stakeholder, who will extend, helps in supporting or growing the Era Swap ecosystem. These rewards will come from a newly released token Instead of penalizing sellers profit margin and buyers cost.
The Process (Tokenomics behind TimeAlly):
While TimeAlly rewards all the users, 50% of the amount is liquid, i.e. upfront EST, and 50% are locked up in smart contract. When a user wishes to Discontinue Smart Contract from the TimeAlly contract, their tokens are released in 104 weeks.
50% of the newly released EST would be distributed to users on a timely basis through a TimeAlly smart contract.
50% of TimeAlly tokens are assigned to the work pool. Further, the work pool tokens are divided into
• Curators (10%),
• Time traders (10%),
• Referral bounty for day swappers (25%),
• And BuzCafe (5%).
Of the remaining 50% TimeAlly tokens, 20% of the TimeAlly tokens are distributed as power tokens. All these tokens are given away by TimeAlly holder community members to other stakeholders in the ecosystem who help in growing and maintaining the ecosystem. Power tokens are valid only for 30 days. If not given away within that time, these tokens are burned.
The rest of the (30%) TimeAlly tokens will be distributed to the stakeholders in correlation with their vesting periods and amount of token they hold.
There might be a chance that TimeAlly members will favor their selective members while distributing the power tokens. However, if this distribution is not in sync with the receiving members’ reputation score on the platform, the legitimacy of the power tokens received could be questioned.
So to remove this situation, a TimeAlly holder can allocate a maximum of 15% power token to any single member. Once the allocation is done, then the next allocation takes place for that user only after 60 days from the date of allocation.
TimeAlly and its Functionality:
TimeAlly incentivized EST holders for holding EST for a longer time period. When the token holders opt for TimeAlly, their tokens are locked up for the duration they choose.
TimeAlly helps auto rebalancing to increase gains naturally for all participants.
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