EcoFi (ECO)

EcoFi (ECO) live price in US Dollar (USD). View value statistics, market cap and supply.

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What is EcoFi (ECO)

ECOFI MECHANISM The EcoFi protocol is designed to equitably disburse value among system participants through a unique infrastructure hinging on infinite scarcity, made possible due to the unique mechanics of EcoFi’s distribution mechanism.

This is achieved by staking ECO tokens through the EcoFi protocol to mint SPRT tokens. SPRT is unique, in that it features an endlessly finite supply. Every time SPRT tokens are exchanged for a good or service in the EcoFi marketplace, such as in the HYPEROBJECT FINE ART Gallery, half the SPRT tokens are burned.

Burning SPRT at every economic gateway safeguards against the type of excess that ultimately drives down value, effectively eliminating the drawbacks associated with recirculation.

This gives the staking platform the capacity to scale upward or downwards with the market based on demand. SPRT tokens can only be obtained by either staking ECO, or on whatever secondary market arises. SPRT tokens are the exclusive means through which a number of goods and services can be accessed in the digital marketplaces connected to the EcoFi platform.

FARMING NFTS WITH SPRT TOKENS Every day users have a choice to either withdraw their SPRT rewards or keep the SPRT tokens they have earned in the vault to continue generating compounding rewards. The SPRT tokens in the vault can also be used to generate NFTs. When generating an NFT with SPRT tokens, the NFT is deposited into an address of the user’s choice, while the SPRT is burned. The EcoFi team is working to integrate features that support atomic swaps for SPRT and different crypto assets in the future.

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EcoFi (ECO) Markets

  • CryptoGlobe latest articles - 24 May 2022, 2:37 am

    Data from tracking platform Shibburn shows that over the past week over 22 billion tokens of the meme-inspired cryptocurrency Shiba Inu ($SHIB) were burned across nearly 500 transactions. The data comes shortly after CryptoGlobe reported that the meme-inspired cryptocurrency’s burn rate jumped 800% to a new daily record of 12.8 billion tokens after ShibaSwap’s burn…Read More

  • CryptoGlobe latest articles - 23 May 2022, 5:30 pm

    Singapore, Singapore, 23rd May, 2022, Chainwire LongHash Ventures, Asia’s first Web3 Accelerator and one of Asia’s leading Web3 venture funds, is continuing its partnership with Protocol Labs, creator of Filecoin and IPFS, to launch the 3rd LongHashX Accelerator Filecoin Cohort. The program aims to accelerate early-stage teams building projects in the Filecoin ecosystem. Established in 2018,…Read More

  • CryptoGlobe latest articles - 23 May 2022, 4:50 pm

    A non-profit volunteer-based search and rescue organization that provides support for the unpaid professional ground search and rescue community, the British Columbia Search and Rescue Association (BCSARA), is now accepting donations in Bitcoin ($BTC) and Ethereum ($ETH). The organization announced it’s accepting donations in the top two cryptocurrencies by market capitalization on social media, where…Read More