EHive, what is the purpose of this protocol? Here is all the information on this protocol as well as the answer to the questions you might have
EHive protocol, here is a community inspired experiment in DeFi Crowdsourcing built on the Ethereum
Discover the Future of Ethereum Validators.
EHive, how does it work?
ETH 2.0 moves the network from the Proof of Work (PoW) system to the new Proof of Stake (PoS) model.
To enable this change in network operations the
Ethereum Network is required to have validators nodes facilitate and verify the on-chain transactions.
These validators will be generating ETH fees similar to previous Ethereum miners.
However, the baseline for creating a validator is currently set at a minimum of 32 ETH, which is well out of the range of the typical DeFi user.
Since validators will be the backbone of the new Ethereum Network, eHive and the development team believe that all users of cryptocurrencies should have the opportunity to participate in supporting the future of DeFi whether you have 0.01 ETH or 32 ETH.
Through our token and dashboard eHive plans to make validators and their revenue available to all holders big and small.
As the eHive token trades on Automated Market Makers (AMMs) 3% of all transactions will be reserved
for the purchase of validators when ETH 2.0 is pushed to the main net (Estimated to happen in the next
As the eHive community purchases and operates their own validators, holders of the eHive token will be able to stake their tokens in our custom distribution contract. This contract will distribute the ETH generated by the node daily to each staker based on their share of the pool. On top of the ETH rewards, stakers will also receive eHive tokens to distribute the remaining supply to active members of the community.
These tokens will only be generated until the maximum supply of 1,000,000,000,000 (one trillion) is reached. These token rewards are estimated to last approximately 2-3 years from the initial staking launch. All features will be easily accessible and visible on our dashboard that can be found on our website.
The eHive token will have a tax rate of 6% on both the buys and sells of the token.
As stated in our concept, 3% of this tax will be directly reserved to purchase validators on the launch of ETH 2.0.
The other 3% will be divided into a sustainability tax of 1% that is directly injected into the ETH-EHIVE
liquidity pool, and the remaining 2% will be utilized for marketing and developmental purposes.
The eHive token will launch with an initial supply of 500,000,000,000 (five-hundred billion) tokens.
350,000,000,000 (three-hundred and fifty billion) tokens will be deposited directly into the liquidity pool and the other 150,000,000,000 (one-hundred and fifty billion) tokens will be allocated to a presale raise to bootstrap the initial liquidity.
Over the coming 2-3 years, there will be another 500,000,000,000 (five hundred billion) eHive tokens that will be able to be mined by the community through our validator dashboard. These tokens will be distributed at a set daily rate per token, and to each user based on their share of the rewards pool.
Once the total supply of 1,000,000,000,000 (one trillion) is reached, there will be no more eHive tokens to be mined from the validator pool.