Crypto Emporium Presents; Emporium.Finance
Since 2018, Crypto Emporium has held a unique place within the cryptocurrency space, operating as an intermediary service facilitating the buying and selling of products using cryptocurrency. It is now that they finally introduce to the market a native ERC20 token, CEFI. Distributed for a limited time through their Liquidity Mining Platform, Emporium.Finance.
What is the concept behind Crypto Emporium?
The concept of ‘Crypto-Commerce’ was first introduced on 31st October 2008, when a whitepaper authored by Satoshi Nakamoto, titled ‘Bitcoin: A Peer-to-Peer Electronic Cash System’ was posted to a cryptography mailing list. The mysterious Satoshi Nakamoto envisioned ‘A purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution’
Though many commentators and cryptocurrency fans argue the purpose of Bitcoin to this day, to Crypto Emporium the message is clear. Bitcoin and other cryptocurrencies are a currency meant to be used for online trade. To relegate this revolutionary technology for use as a ‘Store-of-Value’ or ‘Speculative Trading Tool’, is to take away entirely from the potential of distributed ledger technology.
What is the future vision of Crypto Emporium?
It has long been the vision of Crypto Emporium to deliver on Satoshi’s vision and create a truly decentralized, Peer-to-Peer Online Marketplace and accompanying Governance Rewards Program. It is through the emergence of Decentralized Finance, that this vision has become not only viable, but absolutely achievable.
The Decentralized Finance market that emerged this year, has gone from strength to strength and it is only just the beginning. The fastest-growing sector within the cryptocurrency space allows companies to create decentralized financial instruments separate from traditional centralized institutions. Much of the interest surrounding DeFi has to do with giving people more control over their money and more interesting ways to use it.
What is Emporium.Finance?
Emporium.Finance is a Liquidity Mining Platform that will run for a period of 8 weeks starting 26/11/20. The intention is to distribute the CEFI token evenly and fairly by allowing users to provide liquidity and earn rewards via 9 specifically chosen liquidity pools. They will be running no pre-sale or private sale event that favours whales or large investors that manage to get into the project early and dump their tokens at a later date. It is accessible to all and offers participants the possibility of very high APY in tokens and CEFI tokens for the duration of the program.
During this period of 8 weeks, just 150,960 tokens will be minted from the total supply of 888,000. Of these 150,960, 88,000 will be distributed to yield farmers on the Emporium.Finance dashboard through a linear weekly emission schedule. This weekly emission schedule should protect the coin from inflation and ensure token price stays steady and rises over time.
Another feature that makes Emporium.Finance stand out is their team and development allocation is no different, these CEFI tokens are only minted on a weekly basis as liquidity providers provide liquidity, meaning no CEFI tokens have been pre-mined to be held in owners or developers wallets. This is a feature that protects against the dreaded ‘rug pull’ that has plagued many projects launched in the DeFi space recently.
The 9 liquidity pools they have specifically chosen have clearly been chosen with longevity and security in mind, focusing on secure, well established and high-yield protocols. An easy to use interface with clean and crisp graphics make the overall user experience a very pleasant one.
The CEFI Token
CEFI is an ERC20 token built on the Ethereum Blockchain. All contracts and code can be viewed on the Emporium.Finance GitHub
The tokenomics of the CEFI token are one that further reveal the business intentions. The CEFI token has been designed and built with longevity and utility in mind. Tokens are fairly and evenly distributed throughout the initial LP period and beyond;
Tokenomics and distribution are one thing, but a cryptocurrency without any real-world uses and applications will not hold any value in the long-term. Many projects launched during the 2017–2018 ICO boom completely missed this point and didn’t have any real use cases. This is where Crypto Emporium and Emporium.Finance takes a different approach.
The CEFI token will be the cornerstone of the Governance Rewards Program and Peer-to-Peer Cryptocurrency-Only Marketplace.
The Governance Rewards Program
Crypto Emporium aims to redefine loyalty participation programs with the introduction of the Governance Rewards program. This module is what really sets the business apart from any other platform. It is aimed at rewarding platform participants: both buyers and sellers for actions and activity on the Peer-to-Peer Marketplace.
This decentralized and automated model creates a self-governing and resistance-managed platform whereby users can vote and decide on key platform business decision, participate in dispute handling and self organise around platform management. This empowers users in a way not seen before.
In 1793 a local merchant wanted to drive more traffic to his business by rewarding his patrons for their loyalty. After several other attempts, he came up with the idea of giving copper tokens to his customers, which they could earn and redeem for items in his store. However, current loyalty rewards systems are incredibly inefficient and underutilized. With the creation of public blockchain technology, we have the power to disrupt, revolutionize and transform the loyalty market industry and consumer habits worldwide by reinventing the rewards market and placing the power in the hands of consumers
We are stepping into a new era of global decentralization, and it is only logical that we apply these concepts to Loyalty Rewards systems. By creating a transferable points system, Crypto Emporium allows its members to trade with each other, use their ‘points’ to directly purchase products, trade with other businesses and even sell their loyalty points for cash. Easily spendable, easily transferable and easily tradable. Step in, CEFI Token.
Combining Community Governance and Loyalty Rewards into one application is what gives Crypto Emporium immeasurable potential. Not only are buyers and sellers incentivised to engage with the platform, but they also have an important role to play in the development of the ecosystem and a key say in business decisions moving forward.
The Peer-to-Peer Marketplace
It could be argued that no company or business could ever possibly challenge the market dominance of Amazon and eBay, that was before blockchain technology and cryptocurrencies came along. This exciting new technology offers us an opportunity to completely rethink how online marketplaces work.
A Peer-to-Peer Marketplace connects people that have a product or service with people that need that product or service, in this case, using cryptocurrency. The introduction of cryptocurrency means that we can now enter into these transactions without ever needing a third party financial institution, this allows us to to open this service up to over 125+ countries. Cross-Border trade is one of the many things cryptocurrency does so well, offering near instantaneous and low-cost transfers between two people on opposite sides of the world, with no worry of chargeback fraud or failed payments.
The mission is to create a blockchain-enabled economy by empowering merchants of all sizes to adopt e-commerce through digital currency without the need for advanced technical knowledge. By combining the features of major e-commerce platforms with the benefits of cryptocurrency. They aim to build the most comprehensive, simple and flexible marketplace in the world.
The Road Ahead?
For the development and launch of the Peer-to-Peer Marketplace and Governance Rewards Program to be a success, Crypto Emporium needs an engaged community and a token with liquidity.
It’s a very clear path to success that they have lined out, not reinventing the wheel but instead building on what they have already achieved in the space in what is a realistic plan. They are not here to raise 1000 ETH and then disappear into the sunset like many projects in 2017.
The advent of Decentralized Finance has given businesses the opportunity to present their project and token in a way that offers instant gratification and complete transparency for community members. It allows the building of a community whilst at the same time rewarding those for showing faith.
Conclusion
The message of Crypto Emporium is one that is clear, it’s time to use Bitcoin and other cryptocurrency as it was originally intended, as a digital currency for online trade and transactions. This message has been rung loud and clear through social media communications since February 2018.
Emporium.Finance and the Decentralized Finance revolution has created the perfect storm for the Crypto Emporium team to present and forward this idea to a wider audience, it allows them to incentivise and build an ecosystem that rewards, engages and entrusts the community.
CEFI and Emporium.Finance is more than just a speculative liquidity mining investment with no real end goal, it is a business with intention, utility and experience. They know the future of payments is cryptocurrency and they want to invite you to be a part of it.
