Today, Earth 2 founder Shane Isaac released a video via Earth2's official YouTube handle. The video, posted on 22/02/22 at 22:22 Australian Eastern Time, is essentially a prelude to the imminent release of a document that delineates Earth2's journey into Web 3.0 and information on its crypto token $Essence.
We break it down for you the key take-aways from the sneak-peak video
Essence is Rarer than we thought!
The token will be capped at 5 billion supply
However, the circulating supply on debut will be just the currently claimed Essence by Earth 2 users which stands at 112 million tokens as of today.
There wont be an ICO. While a public pre-sale would make Earth2 a lot of money, Shane believes that it dilutes the value for the current users and also exposes them to price action from the outside.
All of the initial listed tokens will be Essence earned by players.
Earth2 will maintain a standby liquidity pool, and will only choose to deploy it only if absolutely necessary and subject to market action.
A majority of the remaining Essence would be reserved for players to be earned via gameplay, over several years to ensure longevity and sustainability of the platform.
There is a certain portion of Essence reserved for the Earth2 team which will get vested over at least a 36 month period.
Where can I find this Document?
There will soon be a link that will appear on Earth2's landing page, which will provide a downloadable file containing a detailed update with respect to Earth2's Web 3.0 transition, a Roadmap, Essence supply/ allocation, and other information.
Finally, this is a draft and subject to changes and therefore is not really a Whitepaper. Shane mentioned that it should be considered more of a WIP document. Additionally, the document doesn't contain everything, and intentionally so, as Earth2 wants to keep some elements closer to their chests in a bid to fend off copy-cat projects.