After months of teasers and news, the Berminal Protocol team is finally unveiling their plans with EMOGI token. EMOGI token which was previously known as BERM token is set to move to the IOST Blockchain and here are few details from the project website emogi.io
Brief Introduction of EMOGI Network?
The EMOGI network builds the framework for the censorship-resistant distribution of media. To effectively spread information in the modern economy, people, journalists, and businesses are required to work with centralized, often agenda-driven intermediaries. These are the media giants of the world — both government-sponsored and monopolistic companies operating walled-garden content ecosystems. These platforms make the rules and have the power to anoint winners, naturally incentivizing cronyism. Through effectively deployed blockchain technology and a thoughtfully-designed incentive structure, the EMOGI network is a vehicle to eliminate the rent-seeking intermediaries standing between the people and the truth.
What is EMOGI token?
EMOGI is a secure digital currency that can be sent person to person over the internet. Transactions have very low fees and are completed nearly instantly with no banks or governments involved.
Features OF EMOGI
With EMOGI token you are assured of:
- Earning, staking, and transacting all within a mobile app
- Millions of participants uncensored by governments and banks
- Sending money anywhere, near-instant, near free
What makes EMOGI different?
EMOGI token is built on a network with highly decentralized Proof-Of-Stake
EMOGI already has the advantage of millions of unique participants.
The team behind EMOGI has created two products with mainstream adoption named Berminal and Bermi. Between the two apps, over 10 million users have earned EMOGI. These 10 million unique network participants are incentivized to secure the network and earn through our proof-of-stake consensus algorithm
Thriving Ecosystem- EMOGI is the coveted currency at the heart of two popular content platforms. Users actively seek to earn EMOGI by creating content and engaging with the community
True Network Effect – Over 70% of participants Reside in Latin America. EMOGI has spread rapidly in concentrated locations. Over 70% of active network participants reside in Mexico, Colombia, Brazil, and Argentina. Our products have strong word-of-mouth virality and growth.
Berminal — Berminal (Blockchain + Terminal) is a realtime blockchain and crypto news sharing platform. Sources cover 11 languages and over 300 cryptocurrencies including BTC, ETH, XRP, and IOST, along with live prices and technical indicators. Armed with a team of professional news correspondents, Berminal is using crypto news as a springboard to revolutionize the entire news industry.
Bermi — Bermi is a short video sharing platform for the Latin American audience, where the utopia of a decentralized social network is slowly taking shape. With the EMOGI as an arbitrator, any contribution to the network is rewarded correspondingly. Bermi currently reaches over 10 million users, and millions more are actively sharing their videos each month.
Which marketplace is available for EMOGI?
The marketplace is designed for three types of participants: content creators, content validators, and consumers — each playing a critical role.
Content creators have media they want to spread — theoretically anything including news, videos, podcasts or press releases. They put out a bid to promote their media and attach EMOGI tokens as a bounty for distribution or make available for direct purchase.
The content validators, elected by the community, are tasked with picking the content they want to disseminate to their audiences. If a validator accepts the terms proposed by the creator, the validator collects a bounty or pays the fee and disseminates the message on behalf of the content creator. Validators theoretically have the option to share revenue with their audience, and consumers can theoretically purchase premium data or information directly from creators. Many dApps can be built on top of the protocol to address additional use cases and consumer demand.
How can I earn EMOGI passively while securing the network?
Given the wide distribution of EMOGI coins, the network has unique resiliency and security characters. EMOGI leverages this advantage and incentivizes good long-term behavior by deploying a “Proof of Stake” block validation and consensus mechanism to record and process transactions on the blockchain. In order for EMOGI holders to participate and earn, they simply deposit EMOGI into a secure voting pool and earn a 6-20% annualized return on their investment through mining fees and block rewards generated by their pool.
What will happen to my BERM token?
With the rebranding of BERM token to EMOGI token, plans are already on ground to conduct a 1:1 swap for holders of ERC-20 BERM token to IRC-20 EMOGI token. Details of this will be revealed later.
Will there be airdrop?
There is a planned airdrop of EMOGI token for IOST token holders and voters.
Hand in hand with EMOGI, IOST aims to use EMOGI’s global influence to contribute to the crypto world. The two will work together to promote the construction of a global decentralized network and enable more people to enjoy the convenient financial service.
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- Interview with RAMP DeFI’s CEO Lawrence Lim October 12, 2020
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- Recap of IOST AMA with Aegis CTO Christopher Holm September 1, 2020