As announced in our May 6th Medium post the buyback program — consisting in buying and locking 75% of all ERN profits into a contract vault for 2 years — is now completed from Drops 1 – 10
We deployed a locking contract on Ethereum mainnet that will store and lock ERN for 2 years from the lock-in time. The contract is verified so the source code is publicly available. The lock() and withdraw() functions are quite simple: only the owner of the contract can lock, and only the owner can withdraw after 2 years (or exactly 63,072,000 seconds*).
Then, from the buyback wallet, we locked the entire ERN balance of 15,710 ERN ($181,997.41 at the time of writing) in the contract. This balance represents the ERN From Drops 1 -3 on:
GMT: Thursday, June 17, 2021 1:30:02 AM
Epoch seconds: 1623893402
Those tokens will be available for withdrawal after:
GMT: Saturday, June 17, 2023 1:30:02 AM
Epoch seconds: 1686965402
This is a true testament to the open-source and transparent nature of blockchain and a commitment to our beloved ERN community.
- 1 day has 86,400 seconds, 1 year has 365 days, 2 years have 730 days — 730 days x 86,400 seconds per day = 63,072,000 seconds)
Today, We then completed our buybacks for Drops 4–10 and then locked the entire ERN balance of 8,950.28 ERN ($51,111.68 at time of writing) in the contract. This balance represents the ERN From Drops 4–10 on:
GMT: Thursday, July 01, 2021 04:24:59 PM
Those tokens will be available for withdrawal after:
GMT: Saturday, July 01, 2023 1:30:02 AM
The Ethernity team is hard at work ready to launch a large amount of licensed IPs in upcoming aNFT drops and multipacks. This widely distributed team including crypto natives and advisors teamed up with leading figures in the fields of sports, arts, entertainment, music, movies, gaming, tech, collectibles, and more to forge an authenticated, licensed, rights-driven aNFT platform and marketplace producing highly curated quality aNFT collections to drive long term value.
Our second series of drops began with Legendary Footballer Pele. Then we celebrated our first “Moment” NFT with the Tony Hawk x Ondrej Zunka Drop of Tony’s last 540 Ollie. Next, we launched our first musical collectible; Nicky Romero’s “Behind the Mask”. We then launched our first female icon, the Marilyn Monroe series on the occasion of her birthday. Then we pivoted to the first official Government drop with The U.S. Space Force. We will finish this round of buybacks with Legendary MMA Fighter Anderson Silva.
This next quarter will see legendary figures, present icons, and future stars mint exclusive aNFTs with Ethernity as well as another stones farming event. And, get ready for some major surprises as we continue to innovate what NFTs can be and what the industry can become both culturally and technologically while rewarding its community members and users.
Speaking of, Ethernity previously announced that we will be locking 75% of all profits into our ERN vault.
We will be buying back the ERN token from the circulating supply and locking it for 2 years. And, we’re proud to announce that is now complete. We’ll be providing the wallet details to make the process as transparent as possible and our community will be able to track its holdings. It’s a true testament to the open-source and transparent nature of blockchain and a commitment to our community.
Drop #4: Pele
Total Sales: 62.17 ETH + 4,200 ERN
USD value (calculated at time of each individual sale): $336,704.13
Ethernity Profit: 10%: $33,670.41, 75% of 10%: $25,252.81
Drop #5: Tony Hawk
Total Sales: 19.32 ETH + 4,600 ERN
USD value (calculated at time of each individual sale): $153,790.74
Ethernity Profit: 10% $15,379.07, 75% of 10%: $11,534.31
Drop #6: Nicky Romero
Total Sales: 2,451 ERN
USD value (calculated at time of each individual sale): $15,496.77
Ethernity profit: 10% $1,549.68, 75% of 10%: $1,162.26
Drop #7: Marilyn Monroe
Total Sales: 24.5 ETH + 3,913.1 ERN
USD value (calculated at time of each individual sale): $89,700.38
Ethernity Profit: 10% $8,970.04, 75% of 10%: $6,727.53
Drop #9: Space Force
Total Sales: 11.86 ETH + 4702 ERN
USD value (calculated at time of each individual sale): $78,281.74
Ethernity Profit: 10% $7,828.17, 75% of 10%: $5,871.13
Drop #10: Anderson Silva
Total Sales: 7.99 ETH + 1586 ERN
USD value (calculated at time of each individual sale): $30,114.80
Ethernity Profit: 10% $3,011.48, 75% of 10% $2,258.61
TOTAL SALES: $704,088.56
TOTAL PROFITS: $70,408.86
ERN BUYBACK (75%): $52,806.64 in ERN 🏦
With ERN at $5.90 (price from coinmarketcap at time of writing, June 30 11:30pm PT — coinmarketcap) that makes 8,950.28 ERN
The process to lock the ERN was similar to the first locking:
- From the deployer wallet (which also receives all the proceeds from sales) we sent 8,950.28 ERN to the buy-back wallet (tx ID:https://etherscan.io/tx/0xba61f10f0cd4947660e0969557b4259375b6ed8c0fc775cf2e6be70c539d4c05 )
- From the buyback wallet, we locked the tokens in the same smart contract (tx ID: https://etherscan.io/tx/0x7449a09482a845844b99c7e79e07d714ff846c879730c639eda4e77960107320 )
GMT: Thursday, July 1, 2021 4:24:59 PM
Epoch seconds: 1625156699
- Those ERN tokens will be available for withdrawal after:
GMT: Saturday, July 1, 2023 4:24:59 PM
Epoch seconds: 1688228699
LOOKING AHEAD: 💎
It’s official — 75% of all profits from aNFT sales will be buying ERN and locked for 2 years. So, what’s next? With that firm commitment to our long-term vision intact, Ethernity will now be focusing on rolling out many of our planned innovative product offerings — like “multipacks,” AR unlockables, and virtual world integrations. Even more important, we’ll be rewarding our “Stones” holders with a second stones supply farming event at some point this summer, details TBA. And more. Stay tuned to see what’s next in store for Ethernity Chain.
Ethernity Chain Links:
➡️ Website (https://ethernity.io/)
➡️ Twitter (https://twitter.com/EthernityChain)
➡️ Discord (https://discord.gg/EtPCBmDUHY)
➡️ Medium (https://ethernitychain.medium.com/)
➡️ Telegram Group (https://t.me/ethernitychain)
➡️ Telegram ANN (https://t.me/ethernitychainnews)