Earn Network (EARN$) — A Decentralized and Deflationary Passive Income Protocol
Formerly known as XYX, EARN Network (EARN$) is a revolutionary decentralized passive income protocol with a story.
EARN is a revolutionary deflationary redistribution protocol with a story.
EARN was formerly known as Burn Yield Burn (XYX). XYX was a redistribution protocol that was stealth launched on Uniswap on February 6th, 2021. 96% of the total supply was locked for a year on Team.Finance and 4% of the tokens were allocated to a development fund to support the project.
XYX featured a 3% fee per transaction. 1.5% was redistributed proportionally to all XYX holders and 1.5% was burned.
The project was promising until February 27th, 2021 when the developer mysteriously disappeared.
After numerous attempts to contact them and a few days of no response, the community-led by Mr. Kawdy (Phil Kody) took over the project.
They had discovered that the XYX developer had sold the entire 4% dev fund allocation. It is assumed with no financial motivation to continue, he ghosted the project. XYX was rugged.
But the community wouldn’t give in. They realized they could save it. Since the developer couldn’t pull the liquidity for a year, they figured out they could fork everything else (socials and all) and continue the project. For more details, check out the EARN Litepaper.
Currently, the only thing left to do to secure EARN’s future is to carry out the 1:1 token swap from the XYX token to the EARN$ token. Before carrying out the swap, we are awaiting the results of our audit with TechRate of the Swap contract and EARN$ token contract. This marks the third audit we’ve done since taking over the project.
How EARN Works
Every transaction of EARN$ tokens features a 3% fee. 1.5% of the fee is redistributed proportionally to all EARN$ holders while the other 1.5% EARN$ is burned, making EARN$ tokens more scarce over time.
Meaning if you were to transact 1000 EARN$ tokens:
- Buying: you would receive 970 EARN$
- Selling: you would receive what 970 EARN$ tokens are worth
- Transfer: the person who receives the transfer would receive 970 tokens.
In the future, EARN$ holders will ALSO receive a proportional amount of profits made from EARN’s ventures DAILY.
These profits include but are not limited to:
- Stablecoins like USDT and USDC
- Other cryptocurrencies
80–90% of the profits will be distributed proportionally to all EARN$ holders and 10–20% of the profits would be allocated to the EARN Community Fund which will be used for continued growth and development of EARN.
If you held 1% of the supply of EARN$ and EARN’s profit for the day was $100k, you would EARN an additional $800 (at 80% profit distributed to EARN$ holders).
The community will be able to vote on what EARN spends these funds on. We are a community-run project and will stay that way.
This makes EARN one of if not the first decentralized and deflationary passive income protocols. You’ll get true passive income, not just EARN$ tokens. Hold and EARN.
That’s it for us, stay tuned for details on the results of our audit and the highly anticipated XYX -> EARN$ token swap.
All Liquidity Provider Tokens Burned: 0xd902a0438fcaab4c40d132a96eb707caefa2a8f2c5f0ad00d0ce063263518564
All Team Tokens Burned: 0xaf99f1fe1ba57305054420b4ef3fcf69bdef0856f2b5f9a31ee7cc593dbbedb9