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ECHO is a community oriented charity token project - where the final aim (Q4 2021 / Q1 2022) is to establish a crypto-native on-chain microdonations and community exploration network. The platform will consist of an on-chain DAO in which users may stake tokens to microfund underserved communities, which are explorable in the associated web3 application (social network like). We plan to use the 'app reserve' portion of the supply - 30B tokens to act as a Quadratic Funding matching pool to support the funded communities in a fair way - similarly to what Gitcoin grants does for blockchain projects.
Concretely, the tokenomics currently allow for the community to vote on (via Gnosis safe multisig):
a charity address to donate to (autoamtic liqudiation of funds in the uniswap pool and instant ETH transfer to address)
- the donation transaction fee (in percentage)
- the reflection fee (in percentage; based off of RFI tokenomics)
- the burn fee (in percentage - no burn will be possible below 10B tokens (10% of initial supply))
These tokenomics may be changed 5 times each max - with no less than 3 months between each change.
As such, the project is one of the first to have community driven tokenomics and charity address voting ability. The token contract is donating to the India Covid Crypto Relief Fund (0x68A99f89E475a078645f4BAC491360aFe255Dff1) as its first donation recipient.
The token contract has been audited by Techrate.
More info in the litepaper (found on the website).