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Ethernity Chain (ERN) Review (8/10⭐)

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$ERN serves as Ethernity Chain's utility token. The native coin allows holders to leverage several of the project's offerings, including fixed staking. Ethernity Chain is a Layer 2 project that supports a broad array of Web3 products. Its primary focus, though, is non-fungible tokens (NFTs). With ERN, you can capitalize on the Ethernity Marketplace, which offers a vast selection of NFTs across various categories.
ERN/USD (-3.86%)
$2.34
July 19, 2024, 6:59 am [UTC]


Visitor Consensus on Ethernity Chain Today
Positive: 53.13%Negative: 46.87%
What's your view on Ethernity Chain today?
 
›› Buy/Sell Ethernity Chain here

 

Ethernity Chain launched in early 2021, which is when the project's native token joined the cryptocurrency scene. $ERN gained popularity as Ethernity became a recognized name in the digital marketplace.

The more interest grew in Web3 and blockchain ecosystems, the bigger Ethernity Chain became. ERN might not have many use cases in the payment ecosystem, but it offers great value if you like NFTs.

 

A Bit About Ethernity Chain

The Ethernity protocol token helps with governance, liquidity pool staking, and NFT purchases, among other uses. It plays a significant role in building the Ethernity community and ecosystem.

Ethernity Chain is a groundbreaking project that allows for the auction of authenticated NFTs. ERN merges the project's NFTs with the token's DeFi utility to create a unique network of collectable content.

The token gives staking powers, enabling you to earn passive income in different ways.

The only way to be part of and participate in the Ethernity community!CryptoLists.com
 

$ERN launched on Ethereum and is also available on Polygon. The token doesn't require ETH to charge for transactions for a majority of the utilities on the Ethernity blockchain.

Therefore, most of the token's transactions are gasless. In line with the project's core values, $ERN contributes to environmental conservation. A percentage of the token's trading volume goes towards offsetting carbon emissions.

Social consciousness is Ethernity's unique selling point. As Ethernity Chain's native token, $ERN gives you purchasing power in the Ethernity Marketplace, which provides exclusive, licensed digital assets.

You can use the token to buy digital collectables from notable global brands, like Messi, Muhammad Ali, and Bosslogic.

 

Utility of Ethernity Chain?

A big issue with alternative crypto tokens is finding uses for them. If you are to invest in $ERN, then you want to be sure that it offers enough value. So, understanding the token's utility is vital for any asset holder. The following are the most common use cases for Ethernity Chain (ERN).

Participate in Ethernity DAO

Owning $ERN allows you to be part of the Ethernity community. The project is a decentralized autonomous organization, and, therefore, depends on the participation of its community members for guidance. If you hold $ERN, then you can engage in discussions about Ethernity and vote on proposals. Community members actively take part in the decision-making process. You just have to meet the criteria to help shape the project's future. The Ethernity DAO page provides the requirements to vote on proposals.

Access to the Ethernity Ecosystem

You can spend your ERN tokens on the Ethernity marketplace. You need a MetaMask wallet, which connects to the marketplace, to purchase authentic NFTs. The Ethernity Marketplace offers a premium NFT collection denominated in ERN tokens. If you collect NFTs, then this marketplace is the right source to shop for various products. The site has different categories, such as art, technology, and music, with prices ranging from as low as $10 to as high as $4.5 million. You can use $ERN to acquire your preferred aNFT.

Fixed Staking

Your Ethernity Chain tokens can earn passive income in the form of interest. Through staking, you can put your ERN tokens to work. After acquiring $ERN, you can lock the tokens for a certain period to contribute to the community. In exchange, you receive tokens or NFTs, depending on how long you stake your share. For example, staking for 90 days generates an interest of 3%. A minimum staking amount doesn't apply, while the maximum is 50K ERN.

STONE Farming

Another way to make the most of your ERN tokens is by using them to earn Ethernity STONES. The network allows ERN holders to collect STONES through farming. You have to connect your MetaMask wallet to the Ethernity website to farm for the tokens. Each ERN locked in the farming contract for 24 hours earns 1000 STONES. Staking yields are only present in units of 1000 and are non-divisible. So, if you remove your $ERN before the 24-hour cycle ends, you don't get anything. You can redeem STONES for curated NFTs on Ethernity Chain only.

Ethernity Chain Price details

ETH Contract address: 0xbbc2ae13b23d715c30720f079fcd9b4a74093505
›› Details & Tokenomics



Very speculative and theoretical potential data
Last updated: July 19, 2024, 6:59 am
›› ERN tokenomics and social media
 

Advantages of Ethernity Chain

+ Access to a socially conscious NFT marketplace that guarantees authentic pieces
+ Power to stake tokens and maximize rewards by earning interest
+ Earn STONES from ERN staking to spend in the Farmers Market
+ Almost negligible gas fees for transactions, reducing costs significantly
+ The token is available on a long list of reputable exchanges
 

Disadvantages

- No white paper for $ERN, which could raise transparency issues
- Ethernity STONES cannot be redeemed for ERN tokens
- You can lose 70% of your interest for redeeming Ethernity Chain (ERN) early
- The NFT space is highly competitive, which could affect ERN's value over time
- $ERN is not the most suitable token for short-term investment
 

Costs

▪ Rated at 9/10

Ethernity Chain has low gas fees, nearly negligible. For this reason, $ERN has cheaper transactions than most altcoins. Withdrawal fees apply on some exchanges. While some services maintain free withdrawals, others charge you as much as $12.

Note that some exchanges have a fixed fee, while others charge a percentage of the transaction.

 

Reputation and Buzz

▪ Reputation rated at 8.5/10
▪ Buzz rated at 8/10

Ethernity Chain launched at a time when non-fungible tokens were generating a lot of attention. Enthusiasts were willing to spend large sums to acquire unique digital assets in different categories.

Ethernity Chain and ERN capitalized on this demand. It provided NFT collectors an opportunity to acquire genuine pieces. Opening an authentic NFT (aNFT) marketplace drum up a lot of buzz for Ethernity, and, consequently, $ERN. Owning ERN means you can buy NFTs from some of the biggest celebrities in the world.

The project partnered with public personalities and influencers to create special NFT collections, which went a long way in attracting consumers. ERN running on the Ethereum network legitimizes the token and adds a level of trust.

However, the absence of a white paper for the token is a bit of a downside, especially for newbies to the crypto space.

 

FAQ

How do I buy ERN tokens?

Purchasing Ethernity Chain $ERN requires you to create an account on an exchange that offers the token. Currently, you can find ERN on several decentralized and centralized exchanges, including KuCoin, Binance, and UniSwap.

Do I have to deposit all my $ERN for STONE farming?

No. You can decide how many tokens to use to farm STONES. However, you can't access the tokens for 24 hours because removing them generates no yield.

How many ERN tokens are there?

The maximum supply of Ethernity ERN is 30 Million, and its current supply is 20,965,715.

 

History of Ethernity Chain

March 2021 - The Ethernity Chain project launches on Polkastarter, introducing its governance token, $ERN. Its ICO price was $0.275000, and 1 Million tokens were available for sale.

January 2022 - Fixed staking becomes available, enabling token holders to contribute to the project by locking their $ERN in exchange for rewards.

December 2022 - Ethernity Chain lists $ERN on more exchanges.

›› Trade Ethernity Chain here›› Buy/Sell Ethernity Chain here

Screenshots from Ethernity Chain

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More sites where to buy/sell/trade Ethernity Chain

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.
ERN/BNB, ERN/BUSD, ERN/USDT
ERN/USDT, ERN/BTC
ERN/ETH, ERN/USDT
 

Ethernity Chain details and tokenomics

Ethernity Chain Ticker: ERN
ETH Contract address: 0xbbc2ae13b23d715c30720f079fcd9b4a74093505
MATIC Contract address: 0x0E50BEA95Fe001A370A4F1C220C49AEdCB982DeC
Type of crypto: ethereum-token
Resources & Social media
đź”—Blockchain URL: https://etherscan.io
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