This document aims to describe the emission model of ENQ - proposed native token of the Enecuum adaptive decentralized environment. It also aims to provide key information regarding the ENQ token sale (hereinafter “ENQ Token Sale”) and describe the migration plan for tokens from Ethereum to Enecuum.
ENQ, the token sale and the Enecuum adaptive decentralized environment are under development. They may be subject to change. No representation or warranty is given as to the achievement or reasonableness of any plans, future projections or prospects and nothing in this document is or should be relied upon as a promise or representation as to the future.
This document also cross-refers to the disclaimer from the Enecuum’s whitepaper. The whitepaper is available at https://enecuum.com/docs/Enecuum_WP.pdf . The disclaimer from the whitepaper is included below to cover emergency cases when the official Enecuum’s site.
This whitepaper and any other documents published in association with this whitepaper relate to the intended development and use of the Enecuum platform (“Enecuum”). They are for information purposes only and may be subject to change.
This whitepaper contains forward-looking statements that are based on the beliefs of Enecuum HK Limited, a Hong Kong incorporated company (CR: 2562183) (“Company”), as well as certain assumptions made by and information available to the Company.
Enecuum as envisaged in this whitepaper is under development and is being constantly updated, including but not limited to key governance and technical features. The ENQ token (“ENQ”) involves and relates to the development and use of experimental platforms (software) and technologies that may not come to fruition or achieve the objectives specified in this whitepaper.
If and when Enecuum is completed, it may differ significantly from the network set out in this whitepaper. No representation or warranty is given as to the achievement or reasonableness of any plans, future projections or prospects and nothing in this document is or should be relied upon as a promise or representation as to the future.
ENQ is not intended to represent a security or any other regulated product in any jurisdiction
This document does not constitute an offer or solicitation of securities or any other regulated product, nor a promotion, invitation or solicitation for investment purposes. The terms of the purchase are not intended to be a financial service offering document or a prospectus of any sort.
ENQ does not represent equity, shares, units, royalties or rights to capital, profit, returns or income in the platform or software or in the Company or any other company or intellectual property associated with the platform or any other public or private enterprise, corporation, foundation or other entity in any jurisdiction.
This whitepaper does not constitute advice to purchase ENQ. It must not be relied upon in connection with any contract or purchasing decision.
The purchase of ENQ and participation in Enecuum carries with it significant risks.
Prior to purchasing ENQ, you should carefully assess and take into account the risks, including those listed in any other documentation.
The views and opinions expressed in this whitepaper are those of Enecuum and do not reflect the official policy or position of any government, quasi-government, authority or public body (including but not limited to any regulatory body of any jurisdiction) in any jurisdiction.
Information contained in this whitepaper is based on sources considered reliable by the Company but there is no assurance as to their accuracy or completeness.
This whitepaper and related materials are issued in English only. Any translation is for reference purposes only and is not certified by the Company or any other person. No assurance can be made as to the accuracy and completeness of any translations. If there is any inconsistency between a translation and the English version of this whitepaper, the English version prevails.
References in this whitepaper to specific companies and platforms are for illustrative purposes only. The use of any company and/or platform names and trademarks does not imply any affiliation with, or endorsement by, any of those parties.
You must consult a lawyer, accountant, tax professional and/or any other professional advisors as necessary prior to determining whether to purchase ENQ or otherwise participate in the Enecuum network.
The ENQ emission model is proposed to progress in three stages. It is proposed that ENQ emission will grow in a logarithmic progression as shown in Diagram 1, where the horizontal axis represents years, and the vertical axis represents the percentage of the total ENQ to be generated.
The upper limit of all ENQ in the system is proposed to be 4,324,320,000 ENQ.
The three stages to the release of ENQ are intended as follows:
30% of the total emission of ENQ is proposed to be pre-mined by the Enecuum development team in order to create an initial distribution pool. This equates to 1,297,296,000 ENQ.
This initial pool is intended to be used in the future for exchange of ENQ(ERC20) to ENQ upon the launch of Eneccum adaptive decentralized environment. It is also intended to be used for the Enecuum development team and the reserve fund. See the heading “Token Sale and Conversion Plan” for further details.
During the 5 years following the end of Stage 1, a further 30% of the total ENQ emission is intended to be available to be mined, bringing the total ENQ emission mined to a maximum 60% of the total ENQ emission.
Following Stage 2 , the last mining stage is envisaged to start, covering the balance of ENQ emission (40% of the total ENQ emission, plus any other amount not previously mined during Stage 2). This stage is not proposed to be subject to any timing cap.
The three stages are shown in Diagram 2.
As the Enecuum adaptive decentralized environment is still under development, we aim to conduct the ENQ Token Sale on Ethereum using an Ethereum-based smart contract. It is proposed that ENQ(ERC20) will initially be issued as part of the ENQ Token Sale.
The allocation of the ENQ(ERC20) is proposed to be as follows:
a) 596,756,160 ENQ(ERC20) are proposed to be available for sale under the ENQ Token Sale, which will be subject to the ENQ Token Sale terms and conditions.. The price for the sale is proposed to be 1 ENQ(ERC20) = 0.04 USD. It is intended that it will be possible to exchange ENQ(ERC20) for ENQ at a rate of 1:1, once the Enecuum adaptive decentralized environment is operational;
b) 64,864,800 ENQ(ERC20) are proposed to be reserved for advisers and partners. It is intended that it will be possible to exchange ENQ(ERC20) for ENQ at a rate of 1:1, once the Enecuum adaptive decentralized environment is operational;
c) 25,945,920 ENQ(ERC20) are proposed to be reserved as a wallet installation reward. It is intended that it will be possible to exchange ENQ(ERC20) for ENQ at a rate of 1:1, once the Enecuum adaptive decentralized environment is operational.
See Diagram 3 and Diagram 4 for further detail regarding the breakdown of ENQ Stage 1 emission and connected proposed exchange of ENQ(ERC20) to ENQ.
We then intend to open the system to the public for Proof-of-Work (“PoW”), Proof-of-Activity (“PoA”) and Proof-of-Stake mining (“PoS”).
It is intended that possession of the ENQ(ERC20) token grants its holder a future right exchange it to the ENQ cryptocurrency at the rate of 1:1, if and when the Enecuum adaptive decentralized environment becomes operational. The exchange is proposed to be made through the Enecuum exchange mechanism. Further details about the Enecuum exchange mechanism will be provided in due course. ENQ(ERC20) is not intended to be a security, regulated product or a financial instrument of any kind.
ENQ is intended to be a utility token. Possession of ENQ is proposed to grant a holder access to the following proposed functionality of the Enecuum adaptive decentralized environment:
a) accumulate and transfer ENQ subject to the ENQ tokens and conditions, and applicable laws;
b) publish SHARNELL Smart Contracts with a fee for publication to the global Enecuum network (the fee is determined according to the volume of the published byte code and established at 0.01 ENQ as the minimum fee);
c) publish custom transactions (for example, a block size exceeding the upper limit for free transactions) with a reward calculated by the user publishing such transactions to stimulate the miners to validate such block;
d) access complex computations via the "heavy” smart contracts. The reward for such computations is proposed to be dictated by the current market conditions where the user who places the request offers a reward and waits until miners (nodes) with enough computational power to run such “heavy” smart contract agree to it. The user may raise the reward to faster stimulate such miners;
e) access and generate private ‘ticket’ branches using other nodes on the network (not the user’s). The reward is determined individually by the miner agreeing to service such branches; and
f) participation in the PoS mining.