White Paper

ENP Token White Paper

Whitepaper Version 1.0 - January 17, 2025

Introduction

The ENP token is a utility token designed to incentivize and reward users for staking with our EasyNode.pro (opens in a new tab) & RockTheBlockchain (opens in a new tab) validator pools on the Harmony blockchain. By providing a unique token-based reward system, we aim to create a more engaging and profitable experience for our users while also promoting the growth and adoption of the Harmony ecosystem.

Token Overview

  • Token Name: ENP (EasyNode.pro)
  • Token Symbol: ENP
  • Total Supply: 500,000,000 ENP
  • Token Type: ERC-20
  • Blockchain: Harmony

Token Distribution

The ENP token has been distributed as follows:

  • Airdrops: 30% of the total supply (150,000,000 ENP) will be airdropped to users who stake with our EasyNode.pro & RockTheBlockchain validator pools, proportional to their stake weight.
  • Liquidity Pool: 15% of the total supply (75,000,000 ENP) is allocated to a liquidity pools on a decentralized exchange (DEX), paired with Harmony's ONE, uONE, and MONA on Harmony Protocol.
  • Team Allocation: 5% of the total supply (25,000,000 ENP) is allocated to the team as hot tokens to help keep ENP active and engaged.
  • Remaining Tokens: 50% of the total supply (250,000,000 ENP) is reserved for future development, partnerships, and other purposes.

Token Utility

The ENP token will have the following utilities:

  • Staking Rewards: ENP tokens will be distributed as rewards to users who stake with our validator pools EasyNode.pro & RockTheBlockchain, in addition to the standard ONE rewards.
  • Liquidity Provision: ENP tokens were used to provide liquidity on swap.harmony.one DEX, paired with ONE, uONE, and MONA to create a stable and liquid market.
  • Token Burning: A portion of the ENP tokens will be burned periodically, using the ONE rewards earned by our validator pool, to reduce the total supply and increase the token's value.
  • Governance: ENP token holders will have voting rights on proposals for the development and growth of our validator pool and the Harmony ecosystem.

Tokenomics

The ENP token's value will be driven by the following factors:

  • Staking Demand: The demand for ENP tokens will increase as more users stake with our validator pool, driving up the token's value.
  • Liquidity: The liquidity pool will provide a stable source of buy and sell pressure, maintaining a stable market price.
  • Token Burning: The periodic burning of ENP tokens will reduce the total supply, increasing the token's value over time.
  • Adoption: As the Harmony ecosystem grows, the demand for ENP tokens will increase, driving up the token's value.

Validator Pool Integration

Our validator pools, EasyNode.pro & RockTheBlockchain, will be integrated with the ENP token as follows:

  • Staking Rewards: Users who stake with our validator pools will receive ENP tokens as rewards, in addition to the standard ONE rewards.
  • Weighted Distribution: ENP tokens will be distributed to users based on their stake weight, ensuring that larger stakeholders receive a proportionally larger share of the rewards.
  • Reward Schedule: ENP tokens will be distributed on a regular schedule, ensuring that users receive their rewards in a timely and predictable manner.

Liquidity Pool Strategy

Our liquidity pool strategy will involve the following:

  • Initial Liquidity: We started 3 LP funds with the following allocations:
    • 50 million ENP / 30,000 ONE
    • 4.2 million ENP / 2,500 uONE
    • 21.2 million ENP / 1 billion MONA
    • Approximately 75 million ENP has been allocated to LP pools to start.
  • ONE Rewards: We will use the ONE rewards earned by our validator pool to buy ENP tokens on the market. Those tokens will be burned or reserved for future airdrops.

Airdrop Strategy

Initial Airdrop

  • 10 million ENP was airdropped to EasyNode.pro Validator delegators.
  • 20 million ENP was airdropped to RockTheBlockchain Validator delegators.
  • 2 million ENP was airdropped to each of the following validator delegators: Farmony, Harmony Hub, and Deadpool.

Future Airdrops

  • Future airdrops will only go to EasyNode.pro and RockTheBlockchain delegators. Users are encouraged to migrate to these validators to receive future airdrops.
  • A total of 36 million ENP has been airdropped so far
  • A total of 69 million ENP will be airdropped over the next 23 months, through December 2026
  • Airdrop plans post 2026 will be updated here when determined, TBD.
  • At least 45 million ENP will remain after the scheduled airdrops, future usage TBD.
  • Tokens we buy with validator rewards may be added to the next monthly airdrop or burned, TBD.

Airdrop Schedule

MonthENP AirdroppedENP Remaining Airdrop Pool
Jan 202536,000,000114,000,000
Feb 20253,000,000111,000,000
Mar 20253,000,000108,000,000
Apr 20253,000,000105,000,000
May 20253,000,000102,000,000
Jun 20253,000,00099,000,000
Jul 20253,000,00096,000,000
Aug 20253,000,00093,000,000
Sep 20253,000,00090,000,000
Oct 20253,000,00087,000,000
Nov 20253,000,00084,000,000
Dec 20253,000,00081,000,000
Jan 20263,000,00078,000,000
Feb 20263,000,00075,000,000
Mar 20263,000,00072,000,000
Apr 20263,000,00069,000,000
May 20263,000,00066,000,000
Jun 20263,000,00063,000,000
Jul 20263,000,00060,000,000
Aug 20263,000,00057,000,000
Sep 20263,000,00054,000,000
Oct 20263,000,00051,000,000
Nov 20263,000,00048,000,000
Dec 20263,000,00045,000,000

Token Reserve and Burn Mechanism

  • Project/Marketing Reserve: 250 million ENP will be reserved for projects and marketing.
  • Price Action Fund: 25 million ENP was released to EasyNode.pro staff to spur ENP price action by buying and either reserving ENP for future airdrops or burning ENP.
  • Token Burn: To date, we have already burned 1 million ENP, reducing the overall supply to 499 million. We will continue to burn tokens along with airdrops of ENP.
  • Validator Rewards Utilization: We utilize Harmony ONE rewards from our validator to return an extra percentage of our fee to our delegators by buying ENP from the pool, then either burning the ENP or re-airdropping it in future distributions.

Smart Contract Information

  • The ENP smart contract is already verified on chain here (opens in a new tab).
  • The ENP smart contract is from thirdweb and has been renounced, meaning no one can create any more or control the contract.

Security and Audits

The ENP token smart contract is part of thirdweb and audited by their team.

Conclusion

The ENP token is designed to provide a unique and rewarding experience for users who stake with our validator pool on the Harmony blockchain. By offering a token-based reward system, we aim to create a more engaging and profitable experience for our users while also promoting the growth and adoption of the Harmony ecosystem.

Roadmap

  • December 2024

    • ENP contract created and verified, 500 million $ENP created on Harmony Protocol.
    • Year end NFT created for delegators and all fans to celebrate 2024 staking with EasyNode.pro! Mint one here (opens in a new tab).

  • January 2025

    • Airdrops to all EasyNode.pro managed validators - EasyNode.pro, RockTheBlockchain, HarmonyHub, Deadpool, and Farmony.

  • Q1 2025

    • Liquidity pools established on swap.harmony.one, continue to expand LP pool depth.

  • Monthly through 2026

    • 3 million $ENP Monthly in airdrops to EasyNode.pro and RockTheBlockchain validator delegators. We encourage users to migrate to these validators for future staking kickbacks!

  • Future

    • TBD, more plans and partnerships coming soon!

Links

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