The Entropyfi token (ERP) is launching on DeversiFi using a fair launch mechanism called a DeversiFi Launch Market. The below FAQ covers everything that you need to know to get involved!

Make sure you leave your email here to be notified about important ERP DLM information

What is a DLM?

A (DLM) is a new fair-launch mechanism for token generation events which enables projects to launch their token on Layer 2.

A DLM combines elements of a reverse auction with continuous liquidity in order to establish the market price of a token by involving all participants, big and small.

The DLM token price starts high and slowly decays throughout the reverse auction, removing the problem of fastest-finger-first and giving everyone the same chance to participate.

As DLMs are hosted on the DeversiFi layer 2, participants do not pay gas and can participate in privacy, whilst still maintaining full control of their funds, meaning token project can reach a much wider audience who might be prohibited from participating in TGEs due to high Ethereum gas costs on Layer 1.

A complete guide to DLMs, including price evolution scenarios can be found here and a video of a previous DLM can be found here

What are the benefits of using DeversiFis DLM?

When launching a new token that is not already trading/liquid, it is impossible to know the value that the market will assign to that token. This can lead to over or under-pricing at launch, with adverse effects. But DLMs solve these problems:

They help determine the market price of a new token that is not already trading or circulating.
They allow anyone to participate in the price discovery without being prevented from doing so by high gas fees.
They always ensure the privacy of participants
Disincentivizes bots, any front-running and speculation, by having a higher token price to start

What is Entropyfi?

Entropyfi is a decentralized lossless prediction market that does not punish users who make wrong predictions.

Entropyfi allows you to supercharge your earnings when you make correct predictions on both crypto-native and real-world assets while having fun at the same time. If you make an incorrect prediction you still retain your existing stake, meaning that you can always participate in the game again.

Entropyfi utilizes the yield on deposit pools to reward winners. With a better aligned financial incentive design, Entropyfi is able to scale the prediction market and create a crowd wisdom sourcing machine.

Entropyfi DLM Parameters:

Where: https://app.deversifi.com/launch-market The page will update from the DVF DLM to the ERP DLM at the time of the sale start
Start Date: Oct. 28 10:30 PST / 17:30 UTC
Duration: 48 hours
End Date: Oct. 30 10:30 PST / 17: 30 UTC
Start Price: $0.25
Floor Price: $0.05
ERP Tokens available: 20,000,000 (2% of total supply)
Accepted Currencies: USDC
Continuous Liquidity: Yes
ERP Liquidity: Immediate after purchase (no lockups)
Minimum Swap size: $20

Who can participate in the ERP DLM?

$ERP is open to everyone apart from residents of the following countries:

Bosnia and Herzegovina; Democratic People’s Republic of Korea (North Korea); Ethiopia; Iran; Iraq; Syria; Uganda; Vanuatu; Yemen; United States of America; Canada; People’s Republic of China

Will there be an ERP Market on DeversiFi After the DLM Ends?

Yes, a permanent ERP/USDC market will be seeded on DeversiFi shortly after the DLM ends using a portion of the DLM proceeds.

DeversiFi will be launching AMMs very soon but if AMMs are not ready by the time the ERP DLM finishes then a bot will be used to seed the market, which will be migrated to an AMM pool when AMMs launch on DeversiFi

In order to prevent possible price manipulation, the DeversiFi permanent market will be seeded using the volume weighted price taken from the last 6 hours of the ERP DLM.

What do I need in order to take part?

1) Connect to DeversiFi using one of the following wallets

Metamask
Metamask + Ledger
Metamask Mobile
Trust Wallet (mobile)
Token Pocket (Mobile)
Ledger

Please note that there is a chance that Ledger may not be able to whitelist the ERP token in time for the DLM, in which case you will not be able to participate in the DLM using a Ledger and instead will need to connect/deposit your tokens to DeversiFi using one of the other wallets above.

Wallets that are not on the list above are not compatible

2) Deposit USDC to DeversiFi (or deposit another token and swap it for USDC on DeversiFi)

A walkthrough guide showing you how to deposit tokens to DeversiFi can be found here

3) During the DLM, when the ERP price reaches your target price level, you can swap your USDC for ERP without paying any gas.

You will receive ERP immediately in your DeversiFi account and can continue to purchase ERP or re-sell your ERP back into the DLM to receive USDC

When will I receive my ERP tokens?

You will receive your ERP tokens in your DeversiFi exchange wallet the moment that you have purchased them in the DLM. You can buy more ERP or resell your bought ERP to receive USDC.

If you wish, you can withdraw your ERP tokens back to L1 Ethereum via a regular withdrawal. More information on how to withdraw tokens from DeversiFi can be found here

ERP Token Information

ERP Tokenomics, allocation and distribution information can be found here:

Contract address: (https://mapper.matic.today/ search for Entropy)
Ethereum: 0x0a0e3bfD5a8cE610E735D4469Bc1b3b130402267
Polygon: 0x28accA4ed2F6186c3D93e20e29e6e6a9Af656341

What will be the circulating supply of ERP after the DLM?

After the ERP DLM there will be a maximum of 3.3% of total token supply circulating:

ERP tokens sold in the DLM: Maximum 20,000,000 tokens (2%)
Private & Seed Sale Investors: Of the 13% of total token supply 10% will be unlocked at the time of the secondary market seeding (which is 1.3% of total supply)

Mask Network ERP tokens 4,000,000 (0.4%) unlocking 7 days later
Polystarter ERP tokens 1,000,000 (0.1%) unlocking 7 days later

I cannot see EntropyFi in my Metamask - How do I add EntropyFi to my Metamask?

In the Metamask extension for Chrome, Brave or Firefox, to to the ‘assets tab’ and scroll down to the bottom of the box
Click to ‘add a token’
Click ‘custom token’
Paste the EntropyFi contract address into the address box:
(Insert address)
Click next
You now should see any tokens that you have in your on-chain wallet in your Metamask. To see tokens that you hold in your DeversiFi account (Layer 2) you can view them on DeversiFi

Is DeversiFi Safe?

DeversiFi is a layer 2 exchange which means you always stay in control of your funds and even DeversiFi itself cannot access your funds. If DeversiFi were to shut down, you can still withdraw your funds back to your on-chain wallet

You can read more about DeversiFi and the technology that underpins the platform on the DeversiFi website or the DeversiFi knowledge base

What will the ERP DLM proceeds be used for?

The USDC proceeds from the ERP DLM will be used to seed markets on DEXs, including DeversiFi.

Where should I go if I have questions?

General DeversiFi Platform Support
For general DeversiFi support, such as problems with wallets, depositing etc, please join the DeversiFi Discord or use the live chat support box in the bottom right hand corner of the DeversiFi web app at app.deversifi.com

Entropyfi Project Questions
For questions about the Entropyfi project, please join the Entropyfi Telegram or Discord

DLM Questions
For questions on how the DLM works, please join the DeversiFI Discord or use the live chat support box in the bottom right hand corner of the DeversiFi web app at app.deversifi.com

Disclaimer

Nothing in this article or on the DeversiFi Launch Market website should be taken as investment advice. Crypto tokens are volatile and are risky products. Please always conduct your own due diligence before participating in any tokens launches or trading any tokens.
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