124 items found for "The Economics of Essence"
- The Economics of Essence - Part 2
as Essence. of course, have to be interested in paying people a proper wage in order to keep them engaged in our economic If the value of Essence goes up to $2.00, that same 0.10 Essence is now equivalent to $0.20. If travelling to Singapore to complete a transaction or do work costs more, it is now less economically It means that if 0.10 Essence is the permanent and flat value for a given transaction in E2, when economic
- The Economics of Essence - Part 3
Read parts 1 and 2 here This is part of a series, which discusses the fundamentals of Essence. If Supply reaches equilibrium with Demand, the price of Essence will stabilize, and if Supply is more But, if the time comes that a major Sim-Wide economic downturn occurs, E2 might well start playing the role of the Central economic authority, and in turn, opt to carry out means of maintaining the perceived They will be the central Economic authority, and it is in their interest as a company to maintain interest
- The Economics of Essence - Part 1
Preamble Not many people have broad experience with economics, as economies are generally run behind It’s difficult to understand the rationality behind systems of economics as complex as the USD or Crypto In fact, it would be fair to say that if people understood the economy too well, it wouldn’t run as efficiently , because what we see as irrational economics are actually, in many cases, what allows the economy to Deflation is an undesirable scenario since it subdues economic activity as people try to hold onto the
- PvP on Earth 2 may come as early as November: Shane
web based PvP in November, and how its being designed with an aim to add a lot of utility to not just Essence Earth 2 is soon planning to launch the $ESNC (Essence) token and is keen to add as much utility to the Shane elaborated further on this thinking:- "Previously our plan needed #Essence to have an externally token through added utility & purpose while mitigating against the potential risk of Players spending #Essence
- $ESSENCE is the new Metaverse crypto
Key take-aways: Essence will be the Earth2 crypto token. The big reward includes a free airdrop of Essence to existing account holders over next 7 days. The full announcement read as below :- Recap of Earth 2 progress so far Essence - The BIG Reward and -tiles, esp. the section 'Why Essence is a great candidate for crypto' and the earlier https://www.e2 .news/post/essence-edollar-pair-earth2) Jewel buying Frenzy and surging land prices As we have already
- Earth2Day & Active Player Essence Rewards
sourced from earth2.io) The Acknowledgement of Earth Day and the introduction of Earth 2 Day marked with Essence To mark the beginning of Earth2Day we will be rewarding all active Earth 2 Players with x3 the Essence The 22nd being more of a retroactive reward to those who are regularly transforming their Essence and For Players who transform 0-3 Essence over these two days, you will receive the balance to a total of 10 Essence as a bonus (i.e if you transform 3 Essence then your bonus will be 3×3= 9 + 1 extra to make
- Earth 2 Essence Conversion Explained
Here is a video by Pacey explaining the differing Essence conversion rates in honour of him reaching properties, as Tier 2 properties have a 10x lower conversion rate than T1 properties with promised Essence
- The Great Earth 2 Essence Staking Race (and how to win it)
staking started about 4 weeks back and users have backed resource validation claims with huge amount of Essence Our estimates put this at anywhere between 6-9 million in staked Essence. (If you don't know what Resource validation or Essence staking is about, first read this https://earth2 While a 750 tile resource claim allows upto 75 users to stake (2250 Essence, 30 essence cap per user) If you end up backing wrong claims you could lose a lot of Essence in the process.
- Coming soon on Earth2 : Essence/E$ pair
ago, Shane announced via his twitter that E2 is working to include the option to pay for EPLs with Essence Prior to this change, E2 had previously communicated that users could purchase EPL using Essence. and in E$, it will implicitly peg the value of Essence to E$. begins (assuming EPLs are released before Essence trading commences). However this turns out - it heralds the birth of the Essence/E$ pair on Earth2.
- Breaking: Tier 1 Properties & Essence Distribution Commitment
Most significantly, Tier 1 tiles have guaranteed Ether to Essence conversion and Essence generation while Essence Distribution Commitment: Upon publication of the Essence Distribution Commitment, Tier 1 Property amount of unclaimed Essence/ Essence Awaiting Claim will be transferred. Helpful Definitions: Essence Awaiting Claim: The Essence promised by Earth 2 to a Tier 1 property. The Essence Awaiting Claim value will decrease as players collect their claimable Essence.
- Theoretically, as of today, Earth2 has generated more Essence than Tiles outstanding
This puts the value of Essence at - 500/160 = About ~$3 per Essence! Basis current implied Essence pegged value ($5 EPL = 400 Essence EPL) of $0.0125, that's a ~80x growth Land holds a special meaning in economics. In Marshall’s (economics legend) words, “Earth’s surface is a primary condition of anything that a man Essence is Liquid - we can freely transact using Essence.
- Will Essence be hosted on Scatter Wallet? Is E2 getting a crypto wallet soon?
One of the E2 users (John1992) alerted about the striking similarity between the Essence logo and Scatter remains to be seen how things unfold or whether it is a mere coincidence behind the similarity between Essence