Recapitulation of ECHO TOKEN PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Saturday, 1st May, 2021
Time: 16:00 UTC
The ECHO TOKEN PROJECT team was represented by @Eatingspod and Giulio who judiciously shared with us detailed knowledge and information about ECHO TOKEN PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourselves and your background, also introduce the team working on EchoToken?
ANS: Hey! I am Giulio, from the ECHO Token I and my team have been working together for the past 18 months and we realized that we could make a real impact with our skills to create a decentralized charity ecosystem. The team includes Louis, Aviv, Rohit, and George - graduates from top swiss universities - EPFL and EHL + NYU in the states! 🚀🚀🌎
We are fully doxxed, which means you can head over to https://echo-token.com to find our Linkedin profiles and learn more about us. 😊
We’re live here for this AMA:
https://www.youtube.com/watch?v=IPZt8Siw9i4
Q2: Can you introduce EchoToken, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: ECHO Token is a charity token created to build the world’s first decentralized charity. It provides 3% of transactions to charity, 2% back to holders (RFI) and where 1% is burned to created higher real impact over time.
From time to time, all of us give our hard-earned money to charities in the hopes of making an impact, but the traditional non-profit complex consumes up to 80% of that in overhead costs.
The team and ECHO’s 200+ holders believe that the solution is decentralize charity once and for all. As the new generation of leaders who made DeFi possible, we are taking on the non-profits to make sure 80%-100% of the donations can reach the people in need. And with blockchain, we know that it is trackable.
Our competitive advantage are as follows:
- Fully doxxed and professional team
- Diamond hands pre-sale community that are long-term holders
- Well thought out plan to build a web 3.0 dapp as the solution
- Background in Financial Engineering, Software Development, Sales and Marketing
Q3: How many charities has been donated to so far?
ANS: RIght now we are donating to the India Covid Crypto Fund started by @sandeepnailwal from Polygon!
He'res our tweet - check out live donations at: launch.echo-token.com
Raised so far: 12.5 ETH!
https://twitter.com/token_echo/status/1388429369966792705
We want to be able to #donateMoreThanVitalik ($600k usd)
So proud of our community :))
We also have a meme competition going on right now!
Giulio would you please share the link?
After this, as per our litepaper we will move onto community based donations - where our holders can vote in the contract itself!
launch.echo-token.com
Live info here!
https://twitter.com/token_echo/status/1388490006436712448
Meme competition! Raise awareness for charity!
Make the meme, tweet, and we will retweet. Join our Telegram!
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Absolutely. We launched on April 29th and raised 12.5 ETH for the India COVID Relief Fund in just 3 hours! We are so grateful and proud of our community for that achievement.
Here: https://launch.echo-token.com/
Our target milestones are as follows:
May 2021
Collaboration with large community ecosystems
Application to blockchain incubators & accelerators
ECHO Dapp proof of concept
June
Staking functionality to vote on donations
Phase 2 proof of concept (POC)
First community facilitators
Mid-tier Centralized Exchange
10+ donations (accumulated)
Q3 2021
Top tier accelerator
ECHO phase 2 implementation & web interface
Corporate partnerships
Phase 3 Alpha (based on web 3.0)
Top-tier Centralized Exchange
+50 donations (accumulated)
Q4 2021
Phase 3
V1 Payment gateway
Decentralized Autonomous Organization (DAO)
Donation certificates with NFTs
ECHO research paper
1M Monthly Active Users (MAU)
1B raised for charities
Join us on our telegram and keep us accountable! 🚀🚀🐬🐬🐬
Q5: So Echo token is just 3 days old? Thats right!
ANS: We launched on Uniswap on 29th
There was a pre-sale for two weeks before that that ended on 26th
Our pre-sale holders are holders for the long-term who really believe in us and the roadmap
Okay, Echo has been working for some time but launched on exchange 3 days ago?
Right?
Yes @hon_aim, We can only donate more the more community participation we get!
So the more members the more exponential our contribution to charity can be !
Q6: I read that the community get to chose the charity to be donated to. Is that right?
ANS: Thats correct. Every week, the community can choose which charities we donate to.
Whats the process of doing this?
Yes - i was stating this on the livestream. The community can change the echo token contract's charity wallet address via voting through a specially set up Gnosis safe multisig
Furthermore, every 3 months the community may adjust our tokenomics percentages
Donation percentage, reflection percetage (passive income), and burn percentage!
Community driven all the way ⚡️
Via the same voting mechanism through multisig
We will begin this process once we reach a larger milestone and more PR reach with the India Covid Crypto Relief Fund.
Q7: Can you give an overview of your Tokenomics, and the UTILITY of the $ECHO Token?
ANS: Currently, ECHO Token serves as a charity token with the following Tokenomics:
👥 Community decides which charities receive donations, On-chain
🔧 Community can tweak the percentages up to 5 times during the lifetime of the Token
💸 3% of each transaction to charities picked by our community
💰 2% to holders. Earn passive income while hodling our token
🔥 1% burn
In phase 3, ECHO Token will become a utility token that can be used to stake donations and facilitate transactions on the web3.0 Dapp. These transactions can be donations, funding, buying and selling and more!
Because of the value this utility will have in the future, it is definitely the right time to buy ECHO now.
As mentioned on the live, we have 30% of locked token reserve for the web3+ EchoDAO coming Q4 2021 - to complement community microdonations at both the global and local level with Quadratic Funding - which is an optimal way to fund public good initiatives.
This mechanism is currently used by Gitcoin grants (gitcoin.co)
We aim to be the first to do this within a DAO and for charity!
Beautifully said!
🐬🐬🚀🚀🚀🚀🚀
Users can seamlessly explore and browse communities in need though a web3 app, stake these for donation - and see the total donation amount grow via pool complementation!
Whats the supply of $ECHO like?
100B at launch - 1% burn on each transaction.
Echo Token Tracker:
https://etherscan.io/token/0x171706B7D113c68f2cc68a6CE63b1dbDcdF7B233#balances
Echo Token Contract:
https://etherscan.io/address/0x171706B7D113c68f2cc68a6CE63b1dbDcdF7B233
Team Finance Locks:
https://team.finance/view-coin/0x171706B7D113c68f2cc68a6CE63b1dbDcdF7B233?name=Echo%20Token&symbol=ECHO
Unicrypt LP Token Locks: (may need 15 min to appear on website)
https://unicrypt.network/amm/uni/pair/0xfaad180045fca84b515fd40d3e265dfab6f161a3
Uniswap Pair Info:
https://info.uniswap.org/pair/0xfaad180045fca84b515fd40d3e265dfab6f161a3
Our liqudity is fully locked as well as our entire token distribution with Unicrypt and Team Finance respectively
(in ECHO)
(m signifies month)
Total supply: 100 B
Sales & App: 56.88 B (6m lock)
Team & Advisors: 5 B (1m lock) + 15 B (6m lock)
Company Reserve: 5 B (1m lock) + 10 B (6m lock)
Liquidity Reserve: 5 B (2w lock)
LP: 3.12B (unicrypt locked)
2nd Segment: LIVE Questions
Q1: How is the development of the App going and what benefits do you hope it can bring to the ECHO TOKEN community?
https://twitter.com/Stefano3210/status/1388513247628873729?s=20
ANS: Currently, we are very focused on building the community around the mission of Decentralizing Charity. As one of our investors told us, the biggest promoters is the community themselves. We are having competitions, frequent live sessions and AMAs to ensure that we build the support ECHO needs to succeed.
In the meantime, our team is also conducting weekly development sprints to meet the roadmap goals and increase the value of ECHO by taking steps to decentralize charity and make on-chain donations happen. We are on marketing high gear with over 200 online publications coming out within the next 48-72 hours.
What we hope is that the app will enable us to enable everyone to support the communities that matter to them. This will enable us to reach the mass market as well :)
Q2: How strong is your team ? Many projects starts with good impression and later abandoned the project. What makes your project different than others?
https://twitter.com/ielfzary/status/1388379259211747328?s=19
ANS: We've worked together for 18 months and know each other personally. We are graduates of Swiss universities and have experience in top companies in Switzerland, the middle east, and asia. We are culturally different but have been able to make that work for us instead of against us!
Q3: Can you tell me about one of your upcoming feature peer-to-community micro-donations? Never heard of this kind of things. Can you tell me how it works? What's the benefits of this and when this feature will be live?
https://twitter.com/ariyastark50/status/1388524107331821571?s=19
ANS: Essentially, we will allow members of ECHO to choose communities that they want to support and donate directly to them through a voting mechanism. This flips the equation and takes out the middle men ( bureaucratic and inefficient non-profits)
Q4: ECHO project are currently raising for the Indian Covid Relief fund. Are they only worked for Indian people? Or it will be global where people are in danger and need help?
https://twitter.com/AmaHunter1/status/1388531525231124481?s=19
ANS: We start with the India Covid Crypto Releif fund because it is the biggest urgency right now! In the future with our EchoDAO (Web3) you can browse communities that needs help as easily as facebook groups - then stake your ECHO tokens to donate to them. So whether the problem is worldwide or local - you can help out!
Q5: Are you a global project or local project? Can anybody anywhere use your project without any restrictions?
ANS: We are a global project welcoming a global community. The founders themselves are from 5 different countries: France, India, Italy, Australia, and Taiwan.
Q6: Can you say 3 unique points that makes your project different from others?
ANS: - Fully doxxed team
- Web 3.0 dapp as a solution to the problem
- Community voting and control.
Q7: What will be the responsibilities of the ECHO team? And is there any consideration by the team to create community ambassadors who will be responsible for having interactions with the community directly?
https://twitter.com/BelloABDUL0192/status/1388513880763248647?s=19
ANS: Yes this is PHASE 2 - Community facilitators. More info in our group! And in the litepaper :)
Q8: When ECHO will be available on both centralized and decentralized cryptocur-
rency exchanges?
https://twitter.com/Dieman122/status/1388530807023673345?s=19
ANS: We are available now on UniSwap currently. We will aim for a Centralized exchange in Q3 and a top CEX by Q4.
Q9: $ECHO is a promising project... But I have some questions. The main one is about token utility. 3% of transactions to charity, 2% back to holders (RFI) and where 1% is burned transaction fee will not be too high for commercial transactions?
https://mobile.twitter.com/TommyBinh1/status/1388526339100192772
ANS: Interesting question! If this is too high, then the community can choose to tweak the percentages 5 times in the lifetime of the token.
Q10: What will be the responsibilities of the ECHO team? And is there any consideration by the team to create community ambassadors who will be responsible for having interactions with the community directly?
https://twitter.com/BelloABDUL0192/status/1388513880763248647?s=19
ANS: If you are interested in being a community facilitator, please message me :)
Q11: In this covid-19 crisis whole over the world how much fund do you have arranged for helping the people ??
What do you thinking about covid-19 cure??
ANS: We have raised $32,000 for India COVID Relief Fund in just 3 hours. If the community would like us to, we will continue to donate to COVID causes.
You can find more at https://launch.echo-token.com
CONCLUSION:
Thank you guys for your attention. As we mentioned, the more community support we get - the more we can help donate - the faster we can create the worlds first DeChar
PS: We have listed for etherscan verification, coingecko and CMC - in their hands to approve all of it now!
Best time to buy, as the Token is undervalued. We have huge marketing coming up in the next 2-3 days. So hop on board and join us in this journey. Even a small investment will go a long way for both of us 🚀🚀
We have a REAL community with zero bots and 💎 DIAMOND Hands 💎
If anyone wants to ask your questions in private - please join our group
SOCIALS:
Reddit: https://www.reddit.com/r/Echo_token/
Twitter: https://twitter.com/token_echo
Telegram: https://t.me/tokenecho
Linkedin: https://www.linkedin.com/company/echo-token/?viewAsMember=true
Discord: https://discord.gg/EAAeDwTW
Donation Tracker: launch.echo-token.com
$ECHO is building the world's first decentralized charity 🐬⚡️🚀
Raised 11.7 ETH for the India COVID Relief Fund in just 3 hours 🔥
Why ECHO?
Because people give their hard-earned dollars to charities in the hopes of making an impact, but the fact is non-profits end up consuming up to 80% in overhead costs 😞
How can we solve it?
As a new generation of leaders who decentralized finance using the power of blockchain, it's time to do the same with charities. With ECHO, we can become change agents and share our gains with those who need it.
About ECHO
✅ Doxxed and professional team
✅ Low Market Cap
✅ Strong roadmap long term vision
✅ Building Web3 dapp as solution
✅ Locked liquidity and team tokens
✅ TechRate audit passed
✅ Anti-snipe / Anti-bot features at launch
Tokenomics:
👥 Community decides which charities receive donations, On-chain
🔧 Community can tweak the percentages up to 5 times during the lifetime of the Token
💸 3% of each transaction to charities picked by our community
💰 2% to holders. Earn passive income while hodling our token
🔥 1% burn
Find us:
🗣 Telegram: https://t.me/tokenecho
🌐 Website: https://www.echo-token.com/
🐦 Twitter: https://twitter.com/token_echo
🕹 Discord: https://discord.gg/XvAfAYuk
🤘🏼 Vote Blockfolio: https://bit.ly/2Siexfp
🔒 Team Finance lock: https://bit.ly/3u7dNaX
🔓 Unicrypt Locked LP: https://bit.ly/3u6yrYQ
📈 DexTools: https://bit.ly/333OUB6
🦄 Buy on UniSwap: https://bit.ly/3e4umi0
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