Why Erosion?
the gradual destruction or diminution of somethingWith a 0.01% burn, we are able to incentivize users to make more transactions, but theres a limit to how many people are going to send EROS to each other, thats why to promote higher transaction amounts, we are going to be rolling out an entire ecosystem of DAPPS, which will theoretically increase the amount of transactions dramatically and deflate the token aswell. The DAPP roadmap will be released soon!
EROS Features
During each transfer made 0.01% of the transaction will be burned and removed from existance.
ERC20 standard protocol for easy Dapp intergration while still providing the long term benefits of deflation.
There will only ever be 10 million EROS tokens created. This supply will decrease overtime increasing scarcity.
EROS burns down to the 14th decimal meaning there will be a remaining supply once all burning has completed.
EROS will be integrated into a large expansive ecosystem of dapps that will help drive mass adoption.
the gradual destruction or diminution of somethingAlmost 7 months ago, a new token on the Ethereum network was released. It’s name was BOMB. It called itself the “World’s first self destructing asset”. It had a simple premise, on every transaction you made using Bomb, 1% of the transaction value would be burned forever. This meant that without any new minting of tokens, the supply would constantly be decreasing, and according to supply and demand theory, if the demand stayed the same but the supply was reduced, the price would increase, theoretically that is. The experiment was a success! After a few months time, the project had gained traction and burned a few thousand bomb, causing the price to spike dramatically to new highs! But there was a slight problem.. Suddenly, the amount of Bombs being burnt were slowing down, and down and went close to almost 5 an hour from its high of approximately 500 and hour. You might ask why this was happening. This was due to a fundamental issue in the token design, with 1% transaction fees and a minimum burn of 1 bomb (close to $13) as well as the usual ethereum transaction fees, it was becoming more and more costly just to transfer Bomb. And guess what people did to overcome this? They just didn't transfer Bomb. And with no transfers there are no burns, hence the deflation comes to an halt. That and the fact that no one wants to lose 1% of their bomb on every transaction when it could be worth so much one day (hypothetically), so they just keep hoarding it. Both of these reasons have completely nullified Bomb’s goal of becoming the deflationary currency of the decentralized world.
Hy·po
/ˈhʌɪpəʊ/·SlightlyErosion is the world’s first hypo-deflationary asset. Compared to Bomb’s 1% burn every transaction, Erosion only has a 0.01% burn every transaction. The difference is minute, but it has big implications. With a 0.01% burn, the effects of deflation are gradual. Just like real life Erosion, the process can be extremely slow, but it can be quite deadly at the same time. Erosion token enjoys the effects of deflation over a long time, making it (theoretically) a much safer bet than bomb in the long run. Erosion has also implemented several features to make sure it doesnt self destruct at the end, such as a burn limit function, which stops the burn on every transaction when the supply is lower than 14 decimal points (i.e. 0.000000000000001), which leaves 4 more decimal points immune to the burn, making the lowest possible supply 1000 units.With a 0.01% burn, we are able to incentivize users to make more transactions, but theres a limit to how many people are going to send EROS to each other, thats why to promote higher transaction amounts, we are going to be rolling out an entire ecosystem of DAPPS, which will theoretically increase the amount of transactions dramatically and deflate the token aswell. The DAPP roadmap will be released soon!links-Discord server- https://discord.gg/JkpgXGcBitcointalk ANN- https://bitcointalk.org/index.php?topic=5161708Contract address for Erosion- https://etherscan.io/address/0x0218c4e3aad7ecf71ccc5d5aaa43c02245f45ccdTwitter Profile- https://twitter.com/Erosion_tokenWebsite- http://erosiontoken.surge.sh/Telegram group- https://t.me/erostokenErosion’s World’s largest legit burn (71% of supply)- https://etherscan.io/tx/0x531d8df204a11c1089cc54b72beb83c43232404dec407596426e2e0ec7da2f84
