ECLIPSEUM ($ECL) AMA @CryptoStarship 🚀 Recap
Tokken: $ECL 💎
DeFi (Store of Value) — Eclipseum: The Antifragile DeFi Asset
Twitter: https://twitter.com/EclipseumToken
Telegram: https://t.me/eclipseumcoin
Website: https://eclipseum.org/
Summary: 📈
Price: $0.02425
Mcap: $839,029.09
Holders: 393
Audited: Yes (Trail of bits)
Liquidity Locked: Yes (1 year on Team.Finance)
Working Product: Yes (Store of Value)
Community: Engaged. Second largest ECL holder locked 1.6M ECL tokens for 6 months yesterday on Team.Finance by own initiative.
Founder: Taylor Webb (Doxing himself this Weekend over some Youtube Informative Explanation Videos)
Relevant Alpha Notes: 💰
- When buying ECL use the website https://eclipseum.org/ . Currently the ECL AMM has 5x higher liquidity than UNISWAP, so by doing so you will save on unecessary slippage.
- Consider this as long term investment. Due to its mechanics it’s designed to damped volatility and therefore this is not a quick pump and dump tokken, instead is a steady and progressive growing store of value.
- Team has a full week of planned Marketing ahead, with another 3 AMA’s (Venus Queen, Diamond Diggers, Trading Benjamins) , Articles and Youtube Videos. We were the very first AMA. Consider taking advantage of the added volatility.
Telegram AMA Conversation Recap: 📝
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:00]
We are about to start the AMA with Eclipseum ECL. I will be muting the chat at this point for members. Thank you all for being aboard!
Taylor, [30.11.20 16:01]
Hey everyone! Excited to be here 👍
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:02]
Welcome Taylor! Glad to have you aboard! Let’s get to it! I will give a quick rundown and then kickstart the questions ;)
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:03]
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:04]
To start off Taylor, what is ECL?
And what its value proposition and what does it intend to do?
Taylor, [30.11.20 16:05]
Eclipseum is designed to be the optimal store of value and collateral for the DeFi space
Taylor, [30.11.20 16:05]
In my mind, there are three things that make the ideal store of value which are:
Taylor, [30.11.20 16:05]
1) Tendency to increase in value over time
Taylor, [30.11.20 16:05]
2) Minimal downside volatility
Taylor, [30.11.20 16:05]
3) High liquidity
Taylor, [30.11.20 16:06]
So, Eclipseum has been designed to provide these three aspects as much as possible
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:06]
Great ! How did you come about the idea?
Taylor, [30.11.20 16:08]
Honestly, just through many iterations of working through the game theory of how to create an elegant smart contract that results in the attributes above. Lots of testing ideas, simulations, etc until I reached the current concept that is Eclilpseum
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:08]
Nice, how long did you work on it?
Taylor, [30.11.20 16:09]
I started working on it summer of 2019, so nearly 1.5 years now
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:09]
We see you put a lot of work in, especially doing it by yourself.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:09]
What is your background?
Taylor, [30.11.20 16:10]
My formal education is in Mechanical Engineering. I’ve been working full time as a controls/automation engineer for the last 5 years.
Taylor, [30.11.20 16:10]
This job includes a lot of programming, which is what got me into software development in the first place.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:11]
Cool, and how long have you been involved with crypto?
Taylor, [30.11.20 16:12]
I got very interested in Bitcoin in 2015 and invested in BTC then. I’ve been pretty obsessed with crypto ever since then.
Taylor, [30.11.20 16:12]
Got into Ethereum in 2017, always thought it was cool but didn’t see the market fit until I discovered DeFi in early 2019.
Taylor, [30.11.20 16:13]
Projects like Maker and Uniswap showed me the massive potential of DeFi and are what inspired me to build my own project.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:15]
Interesting, so basically you worked hard developing the best product you could for 1,5 years, locked down your funds for a year, and are now it’s being slowly discovered by the crypto community and expanding.
Taylor, [30.11.20 16:16]
Yep, that pretty much sums it up!
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:17]
We like the confidence.
Regarding the audit, by trail of bits, there were some items that perhaps needed further clarification
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:18]
We had other devs look at the code from our side, and got no complains. But you did write a medium regarding it, would like to share it?
Taylor, [30.11.20 16:18]
Sure, I’ll paste the link here
Taylor, [30.11.20 16:19]
https://taylor-75409.medium.com/eclipseum-trail-of-bits-security-audit-overview-bc91996fc0b9
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:20]
Now regarding the good stuff, can you explain in a simple way the nuances of the 2 amm’s and the current differences in liquidities in the pools?
Taylor, [30.11.20 16:20]
Sure
Taylor, [30.11.20 16:20]
So there are two AMM liquidity pools
Taylor, [30.11.20 16:21]
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:21]
“AMM = automated market maker”
Taylor, [30.11.20 16:21]
Both of these work like a Uniswap pool, but are both contained within the Eclipseum smart contract, totally independently of Uniswap
Taylor, [30.11.20 16:22]
The ECL price is determined by the ratio of ETH and ECL in the ECL pool
Taylor, [30.11.20 16:22]
So ECL Price = ETH Balance / ECL Balance
Taylor, [30.11.20 16:22]
When someone buys ECL, some of the ETH they sent is transferred automatically to the DAI pool to attempt to balance the amount of ETH in the ECL pool and the DAI pool.
Taylor, [30.11.20 16:23]
There is also an ECL / ETH liquidity pool on Uniswap, but it has less liquidity than the Eclipseum ECL pool, so we recommend buying from the website over Uniswap.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:24]
That difference also creates an arbitrage opportunity correct ? Is that one of the mechanisms to create extra stability needed for a store of value ?
Taylor, [30.11.20 16:25]
Yes, so as the ETH / DAI price changes on external markets, an arbitrage opportunity emerges, and arbitragers will place trades.
Taylor, [30.11.20 16:25]
Half of the transaction fees generated by the DAI pool are transferred back to the ECL pool in the form of ETH.
Taylor, [30.11.20 16:26]
In this way, the ECL price can increase just from ETH / DAI price volatility, even if no one is buying ECL.
Taylor, [30.11.20 16:26]
Buying ECL from the ECL pool of course also increases the price.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:27]
Very good, you did a article talking about the ECL price increase over the last weeks volume, mind sharing the link ?
Taylor, [30.11.20 16:27]
https://taylor-75409.medium.com/eclipseum-the-transaction-fee-generator-1y-fees-liquidity-138-this-week-4ba0f89b88bb?source=your_stories_page-------------------------------------
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:29]
Thanks, and the same arbitrage that might help damp volatility on the way up, will also help support price on the event of downside correct ? When do you foresee it becoming less noticeable?
Taylor, [30.11.20 16:29]
That is correct.
Taylor, [30.11.20 16:30]
Is the second question in regard to the price damping? When will it be less noticeable?
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:33]
When do you see the liquidity pools being big in size enough that the effect of arbitrage will be less noticeable ?
Any projection ? And would trying to keep people informed of both pools sizes, and keeping them balanced would help accelerate volatility ?
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:33]
And possibly growth ?
Taylor, [30.11.20 16:33]
Ah great question. I think once the Uniswap pool has over 100 ETH in it, the arbitrage between the two pools won’t be as noticeable.
Taylor, [30.11.20 16:34]
The bigger the Uniswap and ECL pools are, the more competitive the arbitrage will be, and the tighter the two prices will be at all times.
Taylor, [30.11.20 16:34]
Currently there is about 240 ETH of liquidity in the ECL pool, and around 50 ETH in the Uniswap pool
Taylor, [30.11.20 16:35]
I’m working on an additional arbitrage tool for the website that will allow users to quickly compare the current liquidity and prices between the ECL pool and Uniswap
Taylor, [30.11.20 16:35]
It won’t be for executing trades, just for informational purposes
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:36]
Very good, that would be definitely very informative for everybody! And the better people can understand it, more they can trust
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:37]
Everybody wants to keep slippage low, and nobody wants to give feed the market makers freebies. Although they still have an important function ;)
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:37]
Let’s talk about market cap elasticity ?
Why that ?
Taylor, [30.11.20 16:37]
That’s exactly right 👍
Taylor, [30.11.20 16:38]
So, supply elasticity allows the ECL circulating supply to increase or decrease to absorb fluctuations in supply and demand
Taylor, [30.11.20 16:38]
So in general, ECL price and supply increase together, or decrease together.
Taylor, [30.11.20 16:38]
This does two things, it decreases price volatility, and increases liquidity
Taylor, [30.11.20 16:38]
This chart shows how they change together:
Taylor, [30.11.20 16:39]
Taylor, [30.11.20 16:39]
It also helps to guarantee that there will never be more than 6x circulating ECL tokens as are in the ECL pool.
Taylor, [30.11.20 16:40]
This helps to guarantee a minimum amount of ECL liquidity
Taylor, [30.11.20 16:40]
eclLiquidityRatio = eclBalanceOfEclPool / eclCirculatingSupply
Taylor, [30.11.20 16:40]
eclLiquidityRatio can never drop below 1/6 because of the elastic supply system.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:41]
Very good, last complex topic I would like to talk about is the soft sell, can you explain it’s purpose ?
Taylor, [30.11.20 16:42]
Sure. The Soft Sell function is an alternative sell function that can be favorable for ECL sellers to use in very rare situations. This hasn’t happened yet.
Taylor, [30.11.20 16:43]
It transfers the seller ETH from both pools, and DAI from the DAI pool, and burns ECL. The ratio of these transfers works out such that the ECL / ETH price does not decrease as a result of a Soft Sell
Taylor, [30.11.20 16:43]
But, the circulating supply and ECL market cap do decrease.
Taylor, [30.11.20 16:43]
It effectively creates a “Price floor” that the ECL price is unlikely to decrease below.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:45]
Interesting. Definitely a project to DYOR and dig deeper. The better you understand it the more alpha you can take out of it.
Where do you see ecl in the future ?
Taylor, [30.11.20 16:45]
I hope to see ECL being used as a fundamental base layer building block in the DeFi ecosystem.
Taylor, [30.11.20 16:46]
I would like to see it integrated into many other projects, such as being used as a form of collateral in Maker
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:46]
Very interesting, that sure could maximize its potential.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:47]
What do you foresee as challenges ahead ?
Taylor, [30.11.20 16:47]
I think the main challenge is communicating what ECL is. It is a tough concept to explain and understand.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:48]
We know you got planned a busy week of marketing ahead, how do you plan on tackling that ?
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:48]
And do you wanna tell us what coming ahead ?
Taylor, [30.11.20 16:49]
Well, just to get it all done. There are three more AMAs currently scheduled this week, another Medium article I will be releasing discussing the Eclipseum Pool ETH Ratio, and some educational YouTube videos released at the end of the week.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:52]
Nice ! So you planning to dox yourself in those videos ? Trust is definitely a big thing in crypto, specially for a store of value. And those aren’t build overnight. Adding trust sure can expedite the process ;)
Taylor, [30.11.20 16:52]
Yep, my face will be the videos so yes😊
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:55]
Very good, you sounded like a great guy and passionate about your creation last time we zoomed when we first found about the ECL, so I believe that it will be extremely valuable to the project. Trust and information wise
Taylor, [30.11.20 16:55]
Thank you. Enjoyed talking to you as well
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:58]
One of your community members decided to lock its tokens, which was pleasant to watch. Hope we continue to see this level of excitement and involvement from the community.
Crypto Pilot 👨🏻🚀🚀, [30.11.20 16:59]
I will drop a few last questions I got asked and then open the chat ;) feel free to answer a few more that might arise.
Taylor, [30.11.20 16:59]
Yes! That was awesome to see. Second largest ECL holder locked 1.6M ECL tokens for 6 months yesterday on Team.Finance
Crypto Pilot 👨🏻🚀🚀, [30.11.20 17:00]
Taylor, [30.11.20 17:01]
Locking ECL would likely provide less liquidity, which would go against the core of ethos of being a high liquidity asset
Taylor, [30.11.20 17:01]
It depends on how its implemented, but that’s my initial thought
Crypto Pilot 👨🏻🚀🚀, [30.11.20 17:06]
Gotcha ! Going over the others I got asked I believe most have been answered already In other questions.
If I missed something relevant guys, feel free to use the opportunity to ask now.
Thanks Taylor and keep up the good work.
Leave you with a final one, Which market cap do you wanna see your token at and won’t stop until you get it ? Goals ?
Taylor, [30.11.20 17:07]
Oh that’s a tough one to answer. I’ll just say I want to see it top 10 on CMC 👌
Crypto Pilot 👨🏻🚀🚀, [30.11.20 17:08]
Glad you mentioned cmc, when did you apply to them and coingecko ? 🦎
Taylor, [30.11.20 17:08]
Applied early last week
Crypto Pilot 👨🏻🚀🚀, [30.11.20 17:11]
Very good, still plenty of runway ahead.
I like the ambition!
My suggestion is keep growing the team the best you can to reach the furthest. There is sure Great potential.
I will open the chat now 🚀
Thanks for Joining us, and welcome aboard!
Twitter: @CryptoPilot16
Telegram: @CryptoStarship
