Coinlist has announced that registrations for the Efinity Token Sale are now open. Efinity is the next generation blockchain for NFTs that is designed for simplicity. The team created the ERC-1155 NFT token standard that is now adopted widely across the NFT space.
The sale begins on June 24, 17:00 UTC and has one public option:
- Price: $0.20 per token
- Min/max: $100 min, $500 max
- Lockup: Tokens release linearly over 9 months starting August 4, 2021
- Supply: 100M tokens
If you do not have Coinlist account, register here.
What is Efinity
Efinity is developed by Enjin. Enjin pioneered the NFT industry in 2017 – authors of ERC-1155, the groundbreaking NFT token standard, and the first NFT creation platform.
Efinity is the world’s cross-chain NFT blockchain. Powered by the deflationary EFI Token, the network is environmentally friendly, scalable, and built for games, apps, enterprises and creators to deliver their own non-fungible tokens to mainstream audiences.
Built on Polkadot in partnership with Parity Technologies and the Web3 Foundation, Efinity is a new blockchain that’s purpose-built for NFTs. It’s a token highway designed to enable a specific kind of future—where NFTs are as widespread and easy to use as smartphones today.
In March 2021, Efinity has raised $18.9 million via a sold-out private sale of Efinity’s native token, EFI, led by Crypto.com Capital, DFG Group, and Hashed, the funding round will support the Efinity parachain, network, and strategic growth of the ecosystem.
“Minting NFTs on legacy networks is expensive—financially and environmentally. Polkadot has been designed to solve these structural shortcomings, providing a platform for launching the kind of production-grade infrastructure Efinity represents for NFTs: cheaper for creators and cleaner for the climate.”— Peter Mauric, Head of Public Affairs at Parity Technologies.
Private Sale
The private sale release schedule is as follows:
- Month 3 (Jul 30, 2021): 10%
- Month 6 (Oct 28, 2021): 15%
- Month 9 (Jan 26, 2022): 15%
- Month 12 (Apr 26, 2022): 15%
- Month 15 (Jul 25, 2022): 15%
- Month 18 (Oct 23, 2022): 15%
- Month 21 (Jan 21, 2023): 15%
Public Sale
Linear vesting until 100% unlocked at the end of vesting period.
- Total vesting period: 9 months
- Vesting begins: 40 days after Public Sale closing date
Company
Monthly vesting over 5 years with milestone accelerations.
Team
3 years vesting after 1 year cliff.
Ecosystem
3% to the decentralized Treasury Pool on genesis.
The remainder is unlocked monthly to the Ecosystem fund over 3 years.
Staking & Pools
15% of the total EFI supply will be reserved for distribution to EFI pools as a Block Reward. The supply will be fully distributed after 8-10 years:
Approximate release amounts per year:
- Year 1: 2.85%
- Year 2: 2.55%
- Year 3: 2.25%
- Year 4: 1.95%
- Year 5: 1.65%
- Year 6: 1.35%
- Year 7: 1.05%
- Year 8: 0.75%
- Year 9: 0.45%
- Year 10: 0.15%
This will provide an incentive to early users and developers who create value during the initial adoption period. As revenue from Transaction Fees and Marketplace Fees increases, this will eventually surpass the block rewards.
Block rewards will be distributed among the four pools regularly, and the percentage allocated to each pool can be adjusted by the community through governance.
Read more about Efinity here.
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