Today, Earth 2 founder Shane Isaac released a video via Earth2’s official YouTube handle. The video, posted on 22/02/22 at 22:22 Australian Eastern Time, is essentially a prelude to the imminent release of a document that delineates Earth2’s journey into Web 3.0 and information on its crypto token $Essence.
We break it down for you the key take-aways from the sneak-peak video
Essence is Rarer than we thought!
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The token will be capped at 5 billion supply
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However, the circulating supply on debut will be just the currently claimed Essence by Earth 2 users which stands at 112 million tokens as of today.
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There wont be an ICO. While a public pre-sale would make Earth2 a lot of money, Shane believes that it dilutes the value for the current users and also exposes them to price action from the outside.
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All of the initial listed tokens will be Essence earned by players.
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Earth2 will maintain a standby liquidity pool, and will only choose to deploy it only if absolutely necessary and subject to market action.
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A majority of the remaining Essence would be reserved for players to be earned via gameplay, over several years to ensure longevity and sustainability of the platform.
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There is a certain portion of Essence reserved for the Earth2 team which will get vested over at least a 36 month period.
Where can I find this Document?
There will soon be a link that will appear on Earth2’s landing page, which will provide a downloadable file containing a detailed update with respect to Earth2’s Web 3.0 transition, a Roadmap, Essence supply/ allocation, and other information.
Finally, this is a draft and subject to changes and therefore is not really a Whitepaper. Shane mentioned that it should be considered more of a WIP document. Additionally, the document doesn’t contain everything, and intentionally so, as Earth2 wants to keep some elements closer to their chests in a bid to fend off copy-cat projects.
