In cryptocurrency, there are enough coins, projects, and information to keep any aspiring investor busy for all eternity. New projects are being created and marketed daily, providing ample opportunities to invest in innovative new technology as early as possible. With all of the possibilities, it can be difficult to determine which project to choose as a novice, or even seasoned, crypto investor. The Vegas Take’s “Crypto Project of the Week” provides thorough analysis of a particular project that could provide great value and utility to its holders.
This week’s pick is EtherPrint (ETHP). ETHP’s home is on the Avalanche Network. The Avalanche Network is looking to dethrone the Ethereum Network as the “king” of smart contracts. Avalanche has 1/10th of the costs associated with Ethereum and allows developers to launch blockchains with a wide spectrum of application-specific features. Additionally, the Avalanche Bridge provides a seamless transfer between the Avalanche and Ethereum assets on the blockchain.
ETHP is the first reflection token to successfully reward holders in Ethereum. Reflection tokens utilize a permanent reward system, which means that every transaction made with the tokens using this mechanism is “taxed” via the smart contracts. For each taxable transaction, a percentage is added to the liquidity pool, while another percentage is allocated and redistributed to the token’s holders. Therefore, the value of these tokens provides a guaranteed reward and aims to promote a “hold and earn” community, which reduces sell pressure. The reflection mechanism is completed through smart contracts, which automatically redistributes tokens. As the investor, you only need to manage your storage wallet/s.
ETHP’s smart contract has a 19% tax on all transactions associated with the token (ETHP). Holders of the token receive 12% reflections (or rewards) paid back in Ethereum. The tokenomics associated with the project are 12% reflections paid in Ethereum to holders, 5% for marketing/operations, and 2% allocated to auto-liquidity. As holders, you will see reflections being paid on every buy and sell order.
A month ago, when I came upon ETHP, they had a market cap of 1.8 million. Now the company is currently sitting at a market cap of 13 million and continuing to grow rapidly. Within the first week that ETHP was traded they distributed over 3 million in Ethereum back to ETHP holders and earned recognition multiple times as one of Avalanche’s fastest-growing protocols. ETHP achieved all of this while also alleviating a flaw in their initial contract.
Upon discovery, the ETHP team took immediate action and brought everything to a halt, turning off all taxes and rewards. They promptly hired a top-tier solidity developer to ensure this issue in their smart contract was fixed. While this was difficult for the ETHP team and their community it was for the best. Recently, on January 10th, ETHP migrated from V1 to V2. Before restarting the reflections, the protocol hit 2 all-time highs and looks to continue to have a bright 2022 and beyond.
Not only is ETHP successful, but it is also led by professionals of value and integrity. Their mission is to provide their community with the ability to be financially free through cutting-edge technology. ETHP plans to do this through transparency, integrity, and innovation. They, like many of us, believe in crypto and decentralized finance and understand that it is the future. While innovation is the standard within the space unfortunately transparency and integrity are not. At ETHP, they are not here to grow something massively over the short term. They are here for the long term to grow something that hopefully not only their team, but their holders can be proud of in the future.
Like any business or service, the surrounding community is everything. The ETHP community is one of the most interactive and passionate communities in the space currently, and ETHP has plenty of plans to grow and expand its influence within the space.
ETHP, due to recent developments in the space has transitioned to a Farm-as-a-Service (FaaS) protocol which will allow them to lower the taxes and require less volume in order to ensure longevity for their investors. More details are forthcoming.
To buy ETHP go to their website at https://app.etherprint.io/ and click on the “Trade on Trader Joe” link. To ensure your token trade goes through, set your slippage to 18% (this will be changing soon).
In conclusion, ETHP is a unique token that has more to offer than meets the eye. Not only does it have a strong team of professionals but also an innovative technology with a clear path for growth. ETHP is not just another cryptocurrency project with no long-term roadmap or vision. It is a token that will grow in value along with its community and take the necessary steps to do so ethically; nobody likes scam projects.
Thanks for reading! This article is part of the “Crypto Project of the Week” series where I highlight different projects that are using the medium of cryptocurrency to change the world. As a reminder, I am not a financial advisor, and this is not investment advice. Please always do thorough research before investing.