Blockchain is here to stay. The mission of Eternal Trusts, as a cutting edge organization spearheaded by experts in blockchain and finance, is to revolutionize the centuries old fiduciary industry and make it secure, autonomous, transparent, flexible and affordable by creating the world’s first fiduciary crypto protocol.
The inherent qualities of cryptocurrency-based solutions allow us to design an innovative model of a Trust Fund which absolutely outperforms and outcompetes its traditional predecessor. We make this model available for integration to all trustworthy companies that provide financial services today.
Similar to the industry of fiduciary, the global vision of Eternal Trusts lies within the autonomous execution of a wide range of people’s objectives that can go beyond their lifetimes. It reflects the human desire for self-actualization and the pursuit of well-being. We believe that the hopes and aspirations of people living today should not vanish and be forgotten: it is important to preserve present generations’ financial, intellectual, and biological heritage and make it matter in the long-term.
The first dApp based on ET Protocol that other trustees can use as is, or fork, customize, and white label in collaboration with the ET development team, is currently in development.
The original ET dApp will be the world’s first dApp providing trustee services for the crypto world, by fulfilling simple “Dynasty Trust” scenarios for clients and replicating the traditional fiduciary inheritance and asset redistribution schemes. This application will serve as an example of how the ET Protocol can be used by trustees to establish more convenient and faster channels of direct communication with clients and experts.
The business model for the original ET dApp
In the first ET-dApp, in accordance with the so-called Purpose Execution Flow implemented by the protocol, all clients are supposed to purchase ET Tokens and go through onboarding services with Oracles to get everything customized – this part of the business process is paid with the initial fee, to be adjusted by the dApp founders if needed. Within the lifecycle of a product or service, the client pays transactional fees that may be of a different nature. It is recommended to purchase one specific service regularly, at least once a year – that is a revision of an investment strategy for the client’s assets. There are no more compulsory fees included in our financial model in order to keep it reasonably pessimistic and simple to verify. To sum up, there are three main sources of revenue for the original dApp. They can be 100% tokenized, i.e. paid by ET tokens, or can be paid as a part of the traditional management fee as a portion of Assets Under Management (AUM) in case of long term purposes:
ET dApp Long-term Purposes
ET dApp Dynasty Support Algorithm
Objective – replicating the model of a Dynasty Trust, which provides all kinds of support for the family members of the client for an unlimited amount of time.
Solution – Finding asset managers that would secure returns of traditional developed liquid markets and sending generated income via smart contracts to the wallets of the given beneficiaries after the dApp receives external triggers (age of the beneficiary, educational degree, marital status, loss of legal capacity of the settlor, etc)
Tasks for Oracles – to properly identify preset triggers, to properly identify beneficiaries, to ensure the safe and reliable transfer of assets, and to check that payment was received
Initial assets to be input – cryptocurrency, not less than 10 ETH
ET Tokenomics and Revenue models
The Eternal Trusts Token is a service token needed to execute the Purpose Execution Flow for the dApps built on the ET Protocol. The revenue model for the ET Protocol is based on the expectation of the increase in the ET token demand. The strict rules for token holding specified by the protocol architecture and dApp founders are necessary to ensure there is always a scarcity limiting the supply of tokens in circulation. The expansion of the participant pools and the growth of the number of dApps made with the protocol are also primary factors that influence the growth of the token.
Holding of the token is ensured by several mechanisms:
The ET Token is a reward token for participants on the platform. Those who are rewarded have to hold a predetermined share of their tokens from each reward to retain their voting/participation rights within the ET ecosystem and participate in the dApp’s purpose execution flows.
The token is used as an intermediate currency for internal payments (from and to EOS). This can guarantee a token holding lag of few hours to several days.
The token is needed to initiate redistribution of stake and hold (hold demand is determined by the smart contract) for allowing the token holders to remain active on the platform or receive services
THE TOKEN SALE
The Eternal Trusts tokens have been available for potential platform users since March 22, 2018.
Eternal Trust Token is currently based on the Ethereum-based ERC-20 protocol, which is deemed the industry standard. However, we are gradually shifting to EOS.IO smart contract protocol, which provides a more improved set of features for such a hybrid, autonomous, and multi-chain system as Eternal Trusts.
The Eternal Trusts Token is a service token that underlies all business processes of the dApps built on the ET Protocol. The uniqueness of our token is not limited to its internal payments functionality for our platform, neither its smart-contracted ability to pre-program future deals, nor its power to unlock innovations and service development value.
· dApp founders and their clients buy ET tokens with fiat or crypto, or receive them as gifts from other platform participants
· dApp founders become DAO directors, set business model and prices for their services (not less than a minimum specified by the protocol)
· Clients purchase access to the dApp services with ET Tokens
· DAO Directors, Service providers, oracles, and private blockchain node providers all have to hold a predefined amount of tokens to be able to participate in the platform
The Team
The journey to attaining the vision of ET is spearheaded by a team of experts in many traditional and innovative fields that have come together to disrupt multiple industries at once: trust fund establishment, asset management, and hybrid intelligence technology. Eternal Trusts was conceived by Kirill Silvestrov, MBA, an investment banker with more than 15 years of experience in C-level positions and a portfolio investor in biotech companies. The executive team is also comprised of Mark Lea, a legal adviser to the governments of Singapore, Hong Kong, Malaysia, and Samoa on the establishment of trust legislation, and Benoit Vulic, with more than 10 years of asset management experience in leading global investment companies, in managing "funds of funds", and active portfolio management.
In total, the team of Eternal Trusts boasts decades of top-level experience in their respective fields.
THE TEAM ETERNAL TRUSTS
You can find other interesting information, by visiting their website or whitepaper below:
Website : https://eternaltrusts.io/
Whitpaper : https://eternaltrusts.com/docs/wpen.pdf
Facebook : https://www.facebook.com/EternalTrusts/
Twitter : https://twitter.com/Eternal_Trusts
Telegram : https://t.me/eternaltrusts
ANN Thread : https://bitcointalk.org/index.php?topic=3130908.0
Author :
Profil : https://bitcointalk.org/index.php?action=profile;u=2271545;sa=summary
Address : 0x60d96bae3f152aFa0eD15F8A96A9eC75e173fdB1
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