E$ – INVESTORS LIBRARY
E2 Dollars, E$, is the closest similarity of a real fiat currency in this metaverse.
Can only be created (printed) and supplied by Earth 2 in 3 different scenarious.
- Purchasing E$ by debit/credit card where the exchange rate is pegged to the US Dollar, 1:1 ratio.
- Obtained when another account applies a users Referral Code during purchases of new land tiles
- Generated by Land-Income-Tax “LIT” that is distributed to landowners on a daily basis depending on the amount of new tiles sold and within the specific country the users owns a property and the said property’s size.
Further down will elaborate more on above 3 scenarious and how they work.
Within the metaverse E$ can be traded by selling various assets “Goods”.
Currently available options:
- Resources (Coming soon)
- Holobuildings (Coming soon)
Editors Sidenote: E$ Cannot currently be directly transferred / traded between accounts.
More details on this can be found on each asset’s page under the “EcoSim” dropdown menu.
It is said that E$ will not only be possible to obtain by examples mentioned above but also via offering services:
- Renting out land
Destruction of E$
This occurs always and only during withdrawals. A user cannot withdraw E$ for use outside the E2 Metaverse. When withdrawing E$ the user is affectingly selling back E$ to Earth 2 wheras Earth 2 deposit the amount on the users specified bank account (minus transaction fees).
Thus the Total E2 Money Supply inside the Metaverse can both grow and shrink. The circulating amount and rate of change of the E2 Money supply is not known.
Purchasing or Depositing E$
This is normally the source where your first E$ will come from. Once registered an account it is possible to purchase E$ from Earth2 via the settings page using a Visa or Master Card. The cost for 1 E$ is 1 USD, thus the E$ exchange rate is currently pegged to the USD. This exchange rate relationship is also true when withdrawing “E$” or rather returning E$ to Earth2 to cash out to your desired fiat currency and bank account.
Every account has its own referral code. This can be found on the account’s settings page. If an account uses another account’s referral code at the time of purchase of new land/tiles Earth2 will credit the owner of the referral code 5% of the total land purchase value in new E$ directly into the owners Earth2 account.
Land Income Tax (LIT)
When new land/tiles are purchased in a country a small part of the total spend is redistributed to every user that already own a Class 1, 2 or 3 land/property. This type of dividend in E$ is called “Land Income Tax”, LIT. Unconfirmed reports estimate that a total of 0.85% is distributed back to land owners where of:
Class 1 recieves 0.5%
Class 2 recieves 0.25%
Class 3 recieves 0.1 %
Each owner within each class will then recieve accordingly to their share of tiles within that class.
EXAMPLE: A value of 10 000 USD worth of New Tiles was purchased in France. Class 1 owners total LIT in France to share is then 10 000 * 0.005 = 50 E$. In total there is only 100 000 Class 1 tiles in each country. The LIT / Class 1 Tile is therefore: 50 E$ / 100 000 Class 1 Tiles = 0.0005 E$. If a user own a 750 Property of Class 1 then the LIT that day will yield 750 * 0.0005 = 0.375 E$
As this happens in all countries and on a daily basis it can be quite rewarding for users owning a larger amount of Class 1 tiles.
Editors sidenote: It was clearly stated early on that LIT would only be a very minor revenue source / profit possibillity in regards to other revenue possibilities. In regards that this will be a low yield for profits is reasonable to assume as the appetite to buy new tiles in each country will decrease heavily over time thus nearly ending this revenue stream in the long run.