AMA RECAP : CRYPTO CHALLENGERS x ETHICA
Venue : CryptoChallengersD
Date : 17 JUNE 2022
Time : 02:00 PM UTC.
They shared detailed information and his opinions about the project ETHICA
SEGMENT 1 INTRODUCTION.
1.Could you Guys please provide a quick self-introduction for the community?
Ethica is a purpose-built ethical digital exchange ecosystem focused on driving the environmental, social and governance (ESG) narrative and advancing the United Nations Sustainable Development Goals (UN SDG).
Ethica was founded on the premise that we must do our part to ensure the continued existence of our planet and society for the future of our children.
To this end, we are committed to delivering rewarding outcomes for both ethical investors and global impact entrepreneurs and projects seeking funding, all through a transparent trading platform backed by Blockchain technology — championing the concept of feel-good investing.
2.Can you briefly introduce the project and what are some of the utilities of token? How do you think you stand out among the competitors if there are any?
Ethica’s main product offering is a centralised digital asset exchange, listing projects which meet ESG and UN SDG narratives.
The exchange is the ‘engine’ of the ecosystem, driving revenue from which we are looking to donate a sizeable portion(up to 80%) of profits generated back into the ecosystem(depending on macro circumstances etc.) for the benefit of wallet holders. This is a niche in the market which doesn’t yet exist and thus creates a unique point of difference.
The Ethica token is an impact utility token is the ‘fuel’ of the ecosystem, driving social and impact initiatives. Token utility includes voting for new projects to be prioritized, donating to various causes, offsetting trading fees and unique access to airdrop events and other new launch initiatives such as Ethica NFT collections.
3.Please share your roadmap and give us some updates on where you guys are now.
We are currently just about to launch the Ethica token which will then be followed by the launch of the Ethica exchange towards the end of July 2022. Upon the launch of the exchange, we will start reviewing projects for tokenization and listing on our exchange.
You will be glad to know that the token is launching on 23 June!!!
4.Could you share a bit about security and what benefits you provide to incentivize users to choose your platform?
The Ethica exchange uses best in class cybersecurity technology with 2FA authentication and top tier KYC processes to ensure we adhere to the highest standards of security in the market. We will continue to adopt the latest standards as we progress. We will provide more information on our security technology very soon.
The exchange will offer competitive trading pairs and fees. Most importantly, the exchange and ecosystem will offer users to do good while trading based on our belief that earned returns are more than just monetary.
5.What’s the total supply of the token? Could you share detailed tokenomics of mainnet token’s supply distribution?
I think its important to mention that we are also audited by Certik
Please see the detailed tokenomics in the graphic below.
Please also take note that there will be a very small amount of tokens in the market as all our long term investors and partners have committed to a multiyear lock-up and vesting periods.
SEGMENT 2 TWITTER QUESTIONS.
1: Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
You are right to say that most investors prioritize token price over the project and its objectives. The Ethica token is an impact utility token that has benefits including voting rights on certain projects, discounts on trading fees on the upcoming Ethica exchange, exclusive access to future airdrop events and NFTs etc.
Apart from that, have you thought about this?
How many other tokens out there have utility that allows token holders to directly benefit from revenue generated by the project?
At Ethica, we position to contribute a large portion(up to 80%) of our profits towards buying back and burning tokens through an independent foundation, which will directly and positively impact the price of the token, allowing token holders to benefit from the reduced supply and resulting price increase.
I believe that makes an excellent case for token holders to hold on to our tokens for the longer term!!!
2.Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Can you tell us about your current partners, plans for partnerships and what everybody stands to gain from these partnerships?
Ethica’s ecosystem is built on the notion that collaboration, not competition drives innovation and growth.
Therefore, the partnerships we have forged thus far are extremely important in continually developing the ecosystem.
A key consideration in partnerships we form is to ensure that all parties are working towards a common cause. All our partners are working towards addressing specific causes within the ESG narrative, including climate change, deforestation, carbon emissions, energy consumption, gender diversity, corporate transparency, accountability etc.
Beyond that, we also work with partners who have built communities in various demographics, which will allow us to propagate our narrative far more efficiently and quickly. This benefits both partners since we can leverage off each other’s communities.
Ethica will continue to develop new strategic partnerships as we grow to increase adoption and drive innovation moving forward! Come partner with us if you have an interesting idea too!
3.Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you Feel most confident about?
1. Ethica is a first of its kind digital exchange using blockchain technology to propagate ESG narratives. So we have first mover advantage!
2. Our crowdfunding platform will support various impact projects globally and these projects will be continually validated and monitored for trust and compliance. This gives our users and communities confidence and peace of mind!
3. We position ourselves to contribute a significant portion of our profits(up to 80%) via an independent foundation towards a token buy back and burning program. This allows every participant in our ecosystem to benefit because earned returns are more than monetary!
4.Why is Ethica dedicated to aligning investors with worthy and trusted causes to support? What are some of the charitable causes you are currently working on? How will this benefit investors and the community at large?
At Ethica, we believe that there are many individuals who want to participate and support impact projects all around the world but have no viable solution to do so. By tokenizing these opportunities, we are giving individuals a solution to this problem.
Furthermore, we want to address a significant issue in the donation and charity space. Current global statistics suggest that an average of 40% of every dollar donated does not reach its intended beneficiary and is lost due to slippage. This is a crazy statistic and results in a loss of trust and confidence and naturally, a decline in individual and corporate donations.
With blockchain technology and our digital wallet program, donors can be sure that 100% of their donations reach the intended beneficiaries. For e.g. donors can directly support affected communities in a flood or earthquake zone via our previously distributed wallet program. They can see who the beneficiaries are via the transparent nature of blockchain technology.
Imagine how powerful that is!
We are currently in discussions with organizations across a few countries and are constantly on the lookout for new partnerships.
SEGMENT 3 TELEGRAM LIVE.
Upon seeing the Ethica’s upcoming features, one feature has caught my attention: EthicaGive which is the targeted donation platform. Can you tell us how will this be supported? And how can the community do their roles in this function?
[In reply to Rainy]
Excellent question! The targeted donation platform is not just limited to individuals, corporates can also participate! Ethica will continually send digital wallets to various underserved communities. Moving forward, we will airdrop Ethica tokens as well as tokens of other projects which we list on our exchange into these wallets. This will allow the underserved communities to build wealth for themselves. The wider crypto and blockchain communities can also participate by donating your Ethica tokens towards these initiatives. Feel good by doing good!
Will token holders of this project participate in the governance and decision making of this project. Are you DAO?
Do you take community feedbacks. ?
[In reply to Joshua]
Ethica is not a DAO but token holders can most certainly participate in the governance. One e.g. is for token holders to be able to vote on which projects get priority for tokenization and listing. So effectively, token holders have a say in which projects get funded!
And of course we take community feedback very seriously — in fact, we are a community driven project and hence, all feedback will be considered and applied where possible!
IS This Your project only for elite investors, how about others with small funds, is it open to everyone?
[In reply to ꧁༒☬Dark Sky☬༒꧂]
Not at all! In fact, Ethica was founded to address this problem specifically! One of the challenges we identified is that retail investors and individuals have no opportunity to participate, support and directly fund ESG initiatives. Ethica’s crowdfunding and tokenization platform solves this problem by tokenizing these projects into smaller sizes which then allow retail investors and the common man to participate in them!
I just want to say that the team behind Ethica has been working really really hard to bring this project to fruition and we are looking forward to launching really soon. Please join us and the community as we endeavor to solve real world problems and bring about meaningful change.
Make an impact! Get the Ethica token!