An open letter to the ECHO community
Dear ECHO community,
The market all around us has taken a deep dive and despite low volumes, $ECHO is still here. What made the token stay afloat?
Our investors trust the team and our drive to create an impact on your life and the communities we serve. Therefore, the goal of this article is to provide a comprehensive update on ECHO’s direction and how we will unlock the growth potential to achieve our vision.
A new way forward
The new short and medium-term goal for the ECHO platform is to aggregate legitimate and reliable impact-driven crypto projects much like ourselves, through the creation of a token listing, discovery, engagement, and rewards DApp, the first of its kind.
Such a platform solves the poor and inefficient discovery of upcoming and reliable blockchain projects and communities. The current ecosystem is highly unapproachable to the average crypto enthusiast who wishes to invest in or support the projects. It requires in-depth exploration of a multitude of disconnected social channels which are typically hard to manage for the project teams.
Our belief is that establishing a virtuous crypto-native ecosystem, and establishing partnerships with impact-driven projects — that ECHO’s adoption and popularity will skyrocket by virtue of partner token communities using the platform, thus enabling the project to build a strong community in the crypto, DeFi, and blockchain space, to then expand beyond the crypto sphere and have much more leverage with other non-crypto communities such as local businesses, corporations, and nonprofits.
Giving back is at ECHO’s core, and thus the rewards and passive income solutions we propose will circulate fees (via contract) to the community’s chosen charity! Moreover, it will increase ECHO’s availability to the public.
ECHO is coming to BSC and MATIC, and will offer its services across three chains initially — ETH, BSC, and MATIC.
A platform for today, a vision for tomorrow
As new players in the crypto space, we’ve learned an almost overwhelming amount thanks to our strong community and constant research of this still very new business landscape in a very short amount of time. The main lesson learned is perhaps that without a serious critical mass and a strong driving purpose it’s hard to bridge the gap between having a tiny cap crypto-asset plus an MVP stage product geared at large players still largely unfamiliar with crypto.
As our diamond hodlers are aware, ECHO’s vision has communities at heart — to create a world where people live fulfilling lives in tight-knit communities where they feel like they belong. So how does our listing platform fit in with philanthropy? How does it fit in with our vision?
We wish to establish a virtuous ecosystem of purposeful token projects, bringing all those projects whose aim is to better some facet of society under one umbrella — this isn’t “centralization” — this is focusing the attention of passionate project teams and passionate altcoin investors alike in an ecosystem with purpose at its core — it goes without saying that we indirectly serve all philanthropy projects wishing to participate. What about direct philanthropy? All of the smart contracts which will constitute the ECHO protocol will have a percentage of member rewards circulated to ECHO’s overall chosen charity — much like the ECHO token does now.
And the vision? Having listed token projects on the platform sows the seeds for interaction between teams and their token communities, and after some adoption in crypto, this rewards-based ecosystem for purposeful communities can begin to be extended to NGOs and community foundations, local businesses who contribute sustainably to their local economy, independent projects who can benefit from micro philanthropy, and even further on, all communities of interest, of action, and of place.
All in all, this platform is our primary attempt to serve an audience we are now intimate with, and act by way of business rather than as an unstructured project. The team is extremely driven to bring our vision to fruition and is now laser-focused on selecting purposeful and profitable gems to make the new ECHO Dapp a success.
ECHO as a charity token
Don’t worry, the tokenomics aren’t going anywhere! 3% of the token transactions will go to a community-chosen charity every month. Moreover, a percentage of each transaction within the app such as crypto cashback, Airdrops, staking rewards and advertising revenue will go to the philanthropy wallet. So being part of the ECHO ecosystem already makes you a philanthropist.
For more information about tokenomics on the multiple blockchains we will be serving: ETH, BSC, MATIC, please refer to the updated lite paper releasing shortly.
The ECHO DApp
The ECHO DApp will be crypto investors’ preferred place to discover new projects and DYOR.
At launch ECHO Dapp will have the following features as shown in our prototype.
- Authentication and Profile
The ECHO mobile DApp will require new members to be in possession of a software wallet (Metamask, Trust wallet), which they connect to the app, and which uniquely identifies them on it.
The profile section will summarize your activity on the platform in terms of a story timeline for earned ECHO points for engagement, and viewing the stake of your staking.
- Token Project Discovery
This is the core section of the DApp, in which members are able to browse through vetted token projects (must be listed on Coingecko and trading for at least 24h) whose selection is curated by the team. Each listed token will be required to have real utility to a specific community such as gaming, art, influencers.
Rewards are the ECHO platform’s retention backbone, they act as a way to keep member engagement high, promote activity, and increase the circulating supply of ECHO. The ECHO DApp offers ECHO points that are convertible to $ECHO, partner token staking, and NFTs for top staked tokens.
The listing process
Listing a project requires passing a rigorous selection process.
A proprietary AI algorithm filters projects through a quantitative analysis coupled with comments from the token holders to weigh in qualitative feedback. The comments will be bot-free as the DApp will check whether the comment is made by a holder of the token or not. These are the first steps we will take to keep nefarious code and scams off the platform.
A token can get listed by filling in a form and sharing an unlisted page with their community to comment on why the project should be listed on the platform. ECHO will only list tokens that provide real utility to the ecosystem. We are currently in talks with several that we will share with you in our community chat!
Stay tuned for our Litepaper release in a couple of days for the detailed roadmap and distribution schedule! As you can guess, our platform will involve other token communities. As such, we aim to partner with at least 10 other token projects who will be our launch partners for the Binance Smart Chain bridge. These 10 launch partners will benefit from extra visibility on the app, once launched.
If you support other projects that you feel will benefit from our platform, DM @georgeecho on Telegram.
Thank you for your confidence in us.