ESSENCE – INVESTORS LIBRARY
PAGE CONTENT (Main Topics)
- HOW TO OBTAIN
ESSENCE is the first cryptocurrency / token in the Earth2 platform. This technology is provided via a partnership with Polygon Studios. Polygons Studios is a branch within POLYGON that focuses on blockchain technology for NFT and Gaming. POLYGON have done several successful partnership where we find DECENTRALAND (Mana token), SANDBOX GAME (Sand token) and the NFT Marketplace OPENSEA.io.
ESSENCE can be generated via TIER 1 & TIER 2 land. (See below). ESSENCE will also be available to gain via GAMEPLAY inside Earth2 for all Players. “Play-2-Earn”. ESSENCE was not first released as a fractional decimal system but was later in June 2022 implemented.
(max, circulatiON and RELEASE pace)
BLOCKHAIN: YES – CRYPTO TOKEN
When Consumed in EcoSim it will recirculate
Max Supply / Volume: 5 000 MILLION (5 BILLION)
Ciruclating Supply: Aproximate 112 MILLION ESSENCE (2022-03-15)
Est. MONTHLY released Supply (T1 + T2 Properties): 2.5 MILLION ESSENCE
Total Burnt/spent: UNKNOWN
(Guestimate of 10% = 10 MILLION due to Jewel Upgrades and EPL purchases)
51 MILLION ESSENCE was produced PRIO-EDC release to T1 owners (August 7 – December 3 2021)
41 MILLION ESSENCE was released via 20% EDC AIRDROP to T1 owners (December 3 2021)
20 MILLION ESSENCE produced T1 + T2 After EDC Launch (December 3 2021 – March 15 2022 )
TIER 1 Yield:
Estimated Yearly Production (Release): 29 – 33 MILLION ESSENCE (Non E-ther Boost to Full)
Base Yield / Yearly = 29 MILLION ESSENCE
3% Boost Yield / Yearly = 2 – 4 MILLION . Unknown how much of all tiles that are boosted.
Estimated YEARLY Production (Release): 8 – 10 MILLION ESSENCE
(As of 2022-03-20, 50 Million T2 Tiles sold – Non E-ther Boost to Full)
ESTIMATED POTENTIAL RELEASEd ESSENCE by end of 2022:
Read more about these analysis in our article:
****BELOW ARTICLES IS NOT VALID ANYMORE DUE TO E2 CHANGES HOWEVER THEY MAY MAKE INTERESTING INSIGHTS OF HOW E2 WORKS****
Full Analysis – ESSENCE Performance With the NEW JEWEL BOOST
ESSENCE – How it Works Behind Curtains Pt.1
ESSENCE – How it Works Behind Curtains Pt.2
ESSENCE PLANED DISTRIBUTION
Above is the planned distribution of the total 5 billion ESSENCE. However, their will be some changes to above where “TEAM” (EARTH2 TEAM) will be reduced somewhat to make room for Centralized Exchange listings and other.
The Schedule plan for Play-2-Earn and Community Rewards are not known in details. However, in above section we mention the distribution via yield from Land. This is one way. However, EARTH2 has stated that the majority will be released over years via Game play without players requiring to invest, i.e. Play-2-Earn.
The Scheduled plan for TEAM Essence is a 36 month scheme starting from the day ESSENCE is launched publicly as a token.
What is ESSENCE used for
A Utility token
The complete useability of Essence is not yet known. Below is a list of currently known application areas for ESSENCE
- Purchase of EPLs
- Upgrading Jewels
- Upgrading Properties from Tier2 to Tier1 (Not yet released)
- Resource Replication to “Raw Materials” production (Not yet released)
- Building blocks production from Rawmaterial (Not yet released)
- Construction of Holobuildings (Not yet released)
E2Economist sidenote: It is believed that ESSENCE will have many application areas in the future and be involved in a Play-2-Earn concept. Thus Gamers without investment / Properties will be able to earn ESSENCE by playing without investing.
The Mysteries surrounding ESSENCE
Eeart2 stated early 2021: “You will find that your land starts producing ESSENCE. Essence is the basis of everything. It reflects the place you own, knows what’s in the ground and – in later upgrades – will be able to reproduce it. We also plan for a teleportation system on Earth 2”
Later EARTH2 continued by stating “ESSENCE IS POWER”.
This can just be EARTH2 ways of saying that ESSENCE will be the Utility token connected to most if not all ASSETS directly or indirectly in the EcoSim. But potentially also that is includes voting rights (DAO Governance type of rights) for decisions made all from guilds to megacities to perhaps within a country.
THE VALUE OF ESSENCE
(Soon on the OPEN MARKET!)
It is not yet known what the value of ESSENCE is. Currently it cannot be traded.
However, plans to list the ESSENCE token on one or more crypto exchanges are planned during 2022.
We have derived a market ESSENCE value by looking at the premium price of upgraded jewels in the Bazaar. Please see this calculation and price in our Weekly Market Updates (CLICK)
How to yield ESSENCE token
ESSENCE is obtained via transforming claimed E-THER. Please see process pictures in the E-ther Page :HERE:
ESSENCE DISTRIBUTION COMMITMENT
With the closing of TIER1 tiles EARTH2 rewarded the first-year investors with the announcement that ESSENCE will become crypto and tradeable on the open market. Moreover, it was introduced that each TIER1 property would yield a minimum amount of ESSENCE. This can be viewed on each TIER1 property details where it is stated “Net Essence” (The amount the property already have yielded to the investors balance/account) and “Awaiting to be claimed” (The amount the property still will yield to the investor owning the property).
However, EDC and the “AWAITING TO BE CLAIMED” Values on properties should NOT be seen as the ONLY ESSENCE possible to get. The properties will currently continue to produce ESSENCE when the “Awaiting to be claimed” value is 0. The EDC is currently only giving a BOOSTED TRANSFORMATION RATIO. E_ther is transformed in a much higher ratio to ESSENCE than when Awaiting to be claimed is 0. See picture below.
E2Economist's Sidenote: However, it is possible that EARTH2 may remove the yield after Awaiting to be claimed is 0 In the future and stick to the statements that the EDC was guaranteed and the ESSENCE produced after is currently an extra "bonus" possibility for early investors.
An investor can view his/her total value of “Awaiting to be claimed” for the entire portfolio in the top menu where it is stated a symbol T1+. This T1+ will be reduced for everyday a investor claim new ESSENCE in the profile page.
The First-year investors were also rewarded with an “AIRDROP” of ESSENCE which essentially released 20% of the T1+ value directly to the investors balance/account. Prior to this EDC system the investors owning TIER1 were generating ESSENCE on a daily basis without seeing the T1+ limit. Or perhaps rather the limit did not exist.