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ETNA Network: The BSC/Polygon Based NFT, DeFi, and Gaming Platform

Press Release • December 12, 2021

The ETNA Network is like a crypto galaxy; an ecosystem for interconnected crypto products and technologies available to users under one roof. The ETNA network is a multi-utility ecosystem with products ranging from DeFi, NFTs, gaming, and whatever is in between. 



ETNA Network first started on the BSC as Cyclops Finance, with the expansion to more products and in line with their vision of providing cost-effective and user-friendly DeFi services, it was rebranded. 


With the rebranding, ETNA Network now offers the crypto community access to user friendly DeFi Applications such as lending and borrowing and will soon deploy a liquidity exchange protocol. It also incorporates NFT and Gaming applications, the mission for ETNA is to develop a game hub for both game lovers and game developers. Users get to engage with interesting and rewarding play-to-earn games while game developers gain access to the tools needed to integrate their conventional games to the blockchain thereby hybridizing them to play-to-earn game with ease.


More detailed breakdown of ETNA Network are as follows:


Key Features of the ETNA Network

DeFi

ETNA offers users multi-chain DeFi technology with applications built to support hundreds of crypto assets. A key feature of ETNA is that it is the first project to provide lending and borrowing services that support NFTs as collateral for loans.


ETNA is the first lending platform to support NFTs as collateral. According to the project's whitepaper, ETNA achieves this by incorporating an NFT tokenization mechanism that makes it possible to use any valuable NFT as collateral. 


Holders of the native ETNA tokens also can receive interest-free loans or leverage and have a reduced interest rate or even a cancellation on interest fees. The ETNA network also allows users to stake their crypto assets such as NFTs and Liquidity loans. 


ETNA network additionally offers the innovative hybrid liquidity protocol and the broker-buyer type (BBT) trading feature combination that utilizes a proof of efficiency trading mechanism.


NFT Hub

The ETNA network's NFT hub is multi-chain compatible. The NFT hub comprises an NFT factory that provides tools to users to mint artwork and collectibles into NFTs. 


The hub is also equipped with a P2P marketplace where a user may set up a custom mini-kiosk and list their items for sale or auction. 


Finally, the NFT hub provides users with the first-ever NFT marketplace with spot trading and price demand curve for digital assets; the price of assets can grow exponentially.


Gaming

The ETNA network has built a game zone fit for conventional game developers and ordinary players. ETNA's gaming zone boasts of a developer's hub featuring game engine to web3 bridging tools such as the web3 bridge.


The gaming zone will feature a quick gaming portal for users and a full game version, supporting free-to-play and play-to-earn modes. Player's leadership and scholarship boards will also be provided. 


Currently, ETNA Network has a game called "The Lost Treasure" which is a play-to-earn game where players battle or complete adventures using NFTs, and they earn tokens for battles won and levels completed.

The game is designed to give players an avenue to earn while having fun since it boasts of an exciting storyline based partly on Greek mythology. ETNA just released the quick play option of The Lost Treasure on the BSC.


Several game modes are available, including: PVP/PVE fighting mode full play option, PVP tournament mode, and adventure/treasure hunting mode.


eBridge

Ebridge is the ETNA cross-chain bridge. According to ETNA's website, this bridge will give users tools for integrating cross-chain compatibility, enabling them to migrate their projects. 


Ebridge will support the migration of tokens and NFTs across different blockchains seamlessly. Ebridge supports cross-chain migration across the BSC, Ethereum, and Polygon blockchains, but support for more blockchains could occur. 


ETNA Wallet

The ETNA project provides users with an ETNA wallet, a secured user-focused multipurpose decentralized crypto wallet. 


The ETNA wallet features a multi-chain wallet that supports all major blockchains on mainnet and testnet; users are provided with a secure mobile wallet that stores all their crypto assets.


ETNA wallet includes NFT dApp support where users can store collectibles and other types of NFTs. In addition to this, minting, trading, and auctioning of NFTs will also be supported. 


Decentralized applications like swap features, lending, and DEX trading are also supported on the ETNA wallet, enabling users to trade multiple crypto assets without possessing multiple crypto assets. The wallet will also offer airdrops from start-up projects and incubated projects to its users. 


Token Utility

Key to the ETNA project is the utility provided by its native token. To achieve this, the ETNA project has given its token utility in a variety of ways, including:


  • Lending platform: users may leverage their ETNA tokens to reduce their interest rates, or holders may be eligible for interest-free loans.
  • BBT market: broker membership tier system, proof of insurance mechanism.
  • NFT market currency: NFT marketplace preferred currency and membership system.
  • Game asset value: store of value for game assets, treasure, and reward valuation. 


Tokenomics

ETNA network's native token, ETNA, has a maximum supply of 100million tokens and may currently be purchased on Pancakeswap, MEXC Global, and CoinTiger. 


The token allocation is as follows:

  • Total supply: 100,000,000
  • Staking: 40,000,000
  • BBT Marketplace: 30,000,000
  • Presale: 10,000,000
  • Liquidity: 5,000,000
  • Partnership: 5,000,000
  • Development Fund: 5,000,000
  • Team: 3,000,000
  • Foundation: 1,000,000


The team's allocation will get locked for two years, after which there is a quarterly emission of 5%. The partnership and development funds are also locked up with a maximum of 10% emission allowed at a time and, even then, on a community vote. The Foundation fund is also locked, and any unlock is to be voted on by the community. 


As ETNA is migrating onto the BSC from the Ethereum network, the project has allocated 60% of the funds raised on development, while 40% will be used for expansion. 


Upcoming Updates and Events

  • ETNA Network is in the process of updating their play-to-earn game mechanics. This will include a restructuring of the play-to-earn rewards by introducing a new rewards token.
  • ETNA Token burn will be happening after the rewards token have been introduced
  • There will be a number of partnerships that are in the pipeline and a couple of additions to the team.
  • The rise of EtnaVerse, the metaverse of the lost treasure is coming soon
  • Many more developments and updates are in works and they will soon go live.


Pros of ETNA

  • Provides users with a single multi-chain wallet to hold all their crypto assets. 
  • The project provides users with multiple utilities as it supports gaming, NFTs, and DeFi, all under one roof.
  • Holders of the native ETNA token stand to receive interest-free loans or may leverage their tokens to reduce loan interest fees.
  • ETNA provides users with the eBridge, which will allow users to migrate NFTs and tokens easily across different blockchains. 
  • The native ETNA token has great utility across the platform, from being NFT market currency to storing value on gaming applications. 
  • The project's gaming zone supports ordinary gamers and game developers, offering them dApp support.
  • The development team boasts incredible talent and expertise.
  • The project has been faring exceptionally well in meeting the milestones on its Roadmap since its inception in early 2021.


Roadmap

The ETNA project started in the first quarter of 2021 with a project expansion and rebranding, token IDO and swap, and getting listed on Pancakeswap. From there, the project listed on the CEX exchange in the second quarter of 2021 was accompanied by the deployment of several essential features and game development.

The third quarter of 2021 featured more deployment of applications and features and the release of the full demo of the game. ETNA has successfully met its objectives until this third quarter, and the future is quite promising should they maintain this current pace.


For More Information:

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  

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