How's everybody doing? This time around we are talking to Aaron NIchols, Chief Brand Officer with over 17 years of professional B2C marketing in the web2 world and multiple successful NFT projects.
Chris: ENCTR is a Defi and GameFi platform that also enables revenue sharing for investors. What is the core idea behind the creation of the ENCTR cryptocurrency?
Aaron: The core idea behind ENCTR was simply to play what you want, earn rewards. We use this as our slogan because it was our founding principles. Play to Earn games are broken. Traditional games are broken. P2E becomes too boring and is not sustainable without an active player base and traditional games have you spending money on skins/weapons/passes for items you can never do anything with if you leave the game or your tastes change. We aim to fix this by combining the two worlds. Now you don't have to worry about the game being boring because it's what you want to play and the rewards you get from playing are yours to own in your own wallet.
Chris: How do the investors engage in the revenue-sharing model? How does the ENCTR cryptocurrency play a role in this?
Aaron: We have an excellent revenue sharing model breakdown on the website that explains how each bit plays into this. The short answer is that the modules, as well as our DeFi protocols, generate revenue for ENCTR to the treasury. The Treasury is used to distribute out the rewards we have for S and G ENCTR. Your ENCTR token is your 'membership card' to the revenue sharing model and access to future modules. Investors don't have to do anything to engage in the revenue sharing model other than have their ENCTR staked.
We have a full article breakdown on it here: https://www.enctr.gg/news/how-enctr-merges-gamefi-and-defi
Chris: What are the gaming matches that can be wagered using the ENCTR tokens? How does one use them for games?
Aaron: At present, ENCTR will not be used for wagering on our Battlescape platform. Since wagers are already so unpredictable, for the most part, the currency that you use to make them should not also be. We will be only using stablecoins to allow wagers on Battlescape presently until such a time as we have ENCTRs price/volume more stable. The matches that can be wagered will be ever changing and growing. Initially we believe we will be launching with the "Big 2" being League of Legends and CSGO which will give us access to some other minor games as well. Eventually, we'd like to include a full list of competitive games/matches in there, as well as smaller competitions for LAN centers and the likes.
Chris: Concurrently, how does the purchase of discounted bonds allow for ENCTR token purchase at a discounted price?
Aaron: Issuing Bonds benefits the entire ecosystem in two main ways depending on the type of Bond that is issued:
Purchasing a stablecoin bond (e.g. DAI) allows the Protocol to grow the size of its Treasury which is used to back the ENCTR tokens that are issued by the protocol. The smart contracts ensure that for every ENCTR token that exists, there is at least one stablecoin in the Treasury. Therefore, the price of ENCTR has a theoretical floor of $1 and as the size of the Treasury increases, the more staked ENCTR we can reward with high APYs (more on staking in a future post).
Purchasing a LP token bond (e.g ENCTR-DAI) allows the Protocol to control its own liquidity and ensure that the ENCTR DEX markets remain liquid enough so that anyone who wants to buy and sell can do so easily and without fears of slippage. Additionally, having the Protocol itself hold its own LP tokens prevents our Users from having to take on the risk of Impermanent Loss themselves. Finally, the LP fees are accumulated by the Treasury which can make use of them to further grow the Protocol.
We have an amazing article on bonds here: https://www.enctr.gg/news/enctr-bonds
Chris: So, what will be the dollar cost of one ENCTR cryptocurrency? What are the different ways in which one can buy the token?
Aaron: The dollar cost of ENCTR, like any token, will be based on the market. It is not really possible for us to give a number of what ENCTR will be at any given moment as there is a lot of room for movement early on in the protocol. Later down the road, as the protocol grows, that number will level out. The honest answer, the market will decide the final resting "standard" price of ENCTR.
Chris: Additionally, what is the buying process for the token? What are the different available cryptocurrency exchanges?
Aaron: There are two ways to buy ENCTR currently. You can purchase a bond through our website or purchase just ENCTR on Quickswap. We plan to introduce other exchanges slowly as the protocol grows and the liquidity pairs can be matched across exchanges to avoid any exploitation of market differential prices across. The next introduction will be a LP pair for gENCTR to be sold/traded/bought directly on the market without needing to unwrap/unstake.
Chris: Finally, what are the plans for the future of the token? How do you plan to expand the scope for the token in the near future?
Aaron: ENCTR is a modularized protocol. Currently, we've released our roadmap for the next 3 modules being introduced and have added one more which we will release information on shortly. The ENCTR token is involved heavily in all of our modules which will not only increase the value but will increase the overall scope of how our token can be used. Here at ENCTR we don't think of the token as a token. We think of it more as your access card into the entire protocol. It just so happens to be in token form so the open market can also benefit.