The EasyFeedback token evolves: It becomes “EASYF” and starts its PRE-SALE

  • February 15, 2021

EasyFeedback was born in August 2015 but it was not until July 2018 when we discovered that blockchain technology could boost our mission (promote feedback between consumers and companies / institutions to transform and improve the world).

We had a lot of knowledge in the development of projects related to Feedback and when we launched EasyFeedback the team had been developing tools related to feedback since 2001.

We arrived in the Crypto world in August 2018 and since then we have been learning and adding great professionals to our team.

As we have been explaining during the last months, we have been working to obtain the license that allows us to sell our token (more information in Licenses obtained for the sale of Easy Feedback token).

We have taken advantage of this time to learn and incorporate knowledge of the crypto world. We have understood that we can adapt what we have learnt and make certain changes to our project to make it more solid. Once we have obtained the licence we are going to make the following changes.

1. New Smart Contract for the EasyFeedback token (EASYF)

We created our tokenomics with characteristics that, with the experience gained and with the advice of Jesús Perez, Director of CryptoPlaza -the largest crypto hub in Europe- and Digital Asset Institute and a new advisor of EasyFeedback token and also by the evolution of the crypto world , we have decided to incorporate the following changes:

BEFORE FROM NOW
Name EasyFeedback Token token EasyFeedback
Symbol EFT EASYF   

It has been modified because there are many projects with the combination of EFT acronyms creating confusion with ours. 

The idea is to be known by “EasyFeedback” and they refer to us saying “you have, you have bought … EasyFeedback”.
Type of Currency Utility Token Utility Token
Decimals 18 digits 18 digits
Blockchain Ethereum Ethereum
Type of token ERC20 ERC20
Total Supply 179.141.000.000 179.141.000.000
Percentage of tokens in Initial Sale allocation 1% 1%
Total tokens in initial sale allocation.  1.791.410.000  1.791.410.000 
What happens to the unsold tokens in the initial sale

Tokens that were not sold will be returned to the Suppy Total to be distributed by PoF

The tokens that we do not use in the ICO will be burned

Mining through feedback 99% of the tokens were pre-mined in a wallet and were awarded by Proof of Feedback ”PoF”. 99% of the tokens are awarded solely for the Proof of Feedback “PoF”. 

Instead of the EASYF being pre-mined, we delegate the function of mining these tokens to a contract of minting. In this way, nobody has access to that 99% of tokens.

Hard Cap 67.550.000 67.550.000
Soft Cap 300.000 0 *
Governance No Yes. The owners of EASYF will be able to make decisions that affect the governance of the project.

 

* 1.1 How much is your Soft Cap?

Our Soft Cap is zero because, in addition to the ICO, we have fundraising alternatives for the development of the EasyFeedback.com tokenization.

To finish developing the EasyFeedback tokenization we estimate a capital of $ 300,000. We can obtain this capital in various ways (capital increase with current partners, entry of new partners and loans). That is, we will develop it regardless of the amount collected in the ICO because we have fundraising alternatives. But we believe that it is very interesting to give the possibility that many people can participate in an indirect way in its development, and the ICO is an instrument that makes this objective possible.

1.2 Why the Hard Cap amount

Deploying our services in a country requires an estimated investment of $ 350,000. Our goal is to be a global service offered in the 194 countries in the world.

A capital raised, greater than the $ 300,000 we estimate we need for the development of the tokenization of EasyFeedback, will allow us an implementation (faster and in more countries) directly proportional to the amount raised. We will be able to accelerate the incorporation of more and better talent for the development of EasyFeedback.com and the “Proof of Feedback” in more countries and drive an exponential growth that will affect the valuation of the project and the EasyFeedback tokens. The more feedback that is sent, the more EasyFeedback tokens will be distributed and the inherent demand from consumers and companies will be greater. More information on the whitepaper pages 23-28.

This is why the Hard Cap is so high.

It is important to remember that EasyFeedback tokens that are not sold at the ICO will be burned. So, the amount of money in circulation at the time of listing will only be that which has been used in the ICO and from that moment on, the only way to obtain EasyFeedback tokens will be through the “Proof of Feedback”.

1.3 Smart contract audited by RED4SEC:

The Smart Contract relating to EasyFeedback token, is programmed in Solidity, for the ETHERUM NETWORK in compliance with the ERC20 standard. Only the EASYF amount is “pre-mined” in this contract to supply the demand in the initial sale of tokens. 

Smart contract: Etherscan.io  “EasyFeedback token”

https://etherscan.io/token/0x9917a9dad884ab5823b00b1fa127de1972fec9cd

“Red4Sec Cybersecurity Services certifies that a security audit has been carried out on Easy Feedback Token, the technical team has examined the security status of the Easy Feedback Token Smart Contract, mentioned below.”

“Therefore, Red4Sec Cybersecurity certifies that the smart contract audited, which is mentioned above, is safe and currently has no vulnerabilities.”

Red4Sec Cybersecur

The image is the cover of the smart contract audit

 

1.4 Why the Total Supply amount

The total amount of tokens is: 179,141,000,000 EASYF. No more EASYF will be created. 1% of the tokens will be pre-mined and used for the token launch by an ICO. The tokens that are not used in the ICO will be burned. The other 99% is reserved to reward EasyFeedback users who send feedback to companies over time.

The only way to undermine EASYF will be with the “Proof of Feedback”. We will delegate the function of mining these tokens to a minting contract (EASYFs are not premined in any wallet). This contract will give the user the corresponding EASYF. The regulating node collects the instructions decided by the oracles (internal, company or lawyer) and connects with this Smart minting contract so that it grants the corresponding EASYF to the user.

The amount of EASYF in the Supply Total has been calculated based on the premise of having enough EASYF to reward for “PoF” , for at least 25 years. To make the estimates, the real historical feedback sent from EasyFeedback.com in Spanish by more than 300.000 users has been taken into account.

To do this, we take the data of feedback sent from the last year and make an optimistic estimate. We estimate:

  1. A 600% increase in feedbacks sent as the adoption of its use increases thanks to the tokenization of the service;
  2. That of the feedback that users send through the easyfeedback.com website, we will reward 80% for the Proof of Feedback. And they will be awarded half of the maximum EASYF tokens that could be rewarded for quality.
  3. We calculate the average world population as the population of Spain multiplied by the 194 countries that exist in the world (data from the UN 193 plus The Vatican).

Since we want to be the Hub of global feedback, we multiply this result by 194 countries and round the result obtained to the figure of 179,141,000,000 EASYF.

 

1.5 Incentives inherent to the EasyFeedback token

  1. Feedback aims to transform things. It helps companies achieve excellence in customer care with their customers and build trust, as well as foster creativity to improve products, services, business processes and thus improve the world.
    The EasyFeedback “EASYF” token is created to reward (through the Proof of Feedback “PoF”) people who from EasyFeedback.com communicate useful feedback to improve the products, services and processes of companies and institutions.    
    EasyFeedback tokens can be exchanged for products, services, cryptocurrencies or money at market prices.
  2. In addition, the user who sends feedback, in the future will be able to receive new income since that feedback sent will be part of the data purchased by the companies that contract the products: EasyFeedback IoT (Internet of Things), EasyFeedback Health, EasyFeedback Survey, EasyFeedback Review and EasyFeedback Stats.
  3. Our EASYF Staking system based on:
    1. The need to have EASYF to access to certain products. 
    2. The amount of EASYF to be staked. 
    3. The time they have staked. 

This system foster the demand for EASYF with its corresponding correlation in its price.

  1. Every year 20% of the profits of Easy Feedback S.L. will be dedicated to the purchase of EASYF tokens on the market. This purchase will be distributed as follows:
    • 50% of the purchased tokens will be burnt. 
    • The other 50% of the tokens will be reintroduced into the Total Supply of Tokens available to be redistributed among users who send feedback, guaranteeing the sustainability of the EASYF supply.
  1. Obtaining a visual recognition system (Platinum, Gold, Silver, Bronze Badges) that users can show on their profiles on social networks. This recognition will be prepared based on the “Proof of Feedback” that the user has sent. They may be sectoral and / or global recognitions.
  2. The owners of EASYF will be able to make decisions that affect the governance of the project such as: the rules of selection of the jurors and lawyers involved in the oracles, the variables on which to evaluate the amount of EASYF that can correspond to feedback, the maximum amount of EASYF that can be granted by the Proof of Feedback, etc.

 

2. Pre-Sale and sale through an IEO

Hundreds of people have signed up to our whitelist. We are very grateful for the great reception we are having.

The granting of the license to sell our cryptocurrency implies compliance with the regulations that we indicate below:

https://www.riigiteataja.ee/en/eli/502122020004/consolide

Its compliance requires us to identify any person to whom we give EasyFeedback (EASYF) token and for this they must go through the process known as KYC (Know your client).

In the next few days we will carry out this process with the people to whom we had already sent EFT tokens, so that they have the new EASYF tokens. EFT tokens will be of no use.

In this Wallet are the total number of EASYF tokens that correspond to the EFT token transactions already carried out.

Wallet: 0x70EcF3BdAd91b8B51847df5AB763dB43A1243784

During the week commencing on February 15th 2021 we will contact all of them. If we are unable to contact all current EFT holders it will be due to a lack of contact information. In this case, we would appreciate if you can claim them by contacting directly the email [email protected].

People who have helped us spread the word about the project thanks to the bounties and airdrops program must also comply with the KYC process.

 

2.1 Phases of Pre-Sale and IEO

 

Given the evolution that EasyFeedback is having (we have been selected by Lanzadera among more than 1100 companies. Lanzadera is the main business accelerator in Spain belonging to the Mercadona group, the largest supermarket chain in Spain. It is a great recognition for EasyFeedback and will suppose a great commercial, strategic and financial boost; and that Movistar, one of the top 10 most important telecommunications companies in the world, has incorporated our EasyFeedback PRO product for companies in two of its flagships in Madrid, as well as for the support of our suppliers), it will allow us to develop the “Proof of Feedback” in Spain.

 

2.2  Sales process to be carried out in the pre-sale

Following the order of registration in the whitelist, from February 15th 2021 we will send emails daily to the people already registered, with the reservation conditions they made and the purchase process to be carried out. As we have indicated, all subscribers will have seven days to make the purchase of the EasyFeedback tokens that they have reserved. After this period, the right to purchase with the bonus granted will be lost but they may choose to purchase with a 30% Bonus.

If you have a reservation with a Bonus of 40% and at that moment you want to buy more quantity, we will sell you the additional amount with a Bonus of 30%.

Once the money for the purchase has been received, the invoice for the EASYF purchased will be sent. From 7 July (the expected end date of the Pre-Sale) the EASYF will be sent to the buyer’s Wallet. The corresponding Bonus will be delivered on the first day that we are listed on Exchanges (scheduled for the fourth quarter of 2021). This is done to prevent a buyer from going to the market before the listing and wanting to sell their EASYFs at a lower price than they bought them.

The tiered selling approach will allow us to continue to welcome individuals to the whitelist who have an interest in purchasing EASYF.

Once the token is listed, individuals who purchased “EASYF” during the pre-sale (NOT at the IEO) with the 40% or 30% bonus and hold them for one year in the wallet in which they received the initial purchase of “EASYF”, will receive an additional 5% bonus. This 5% bonus will be spread over 12 monthly payments with a vesting contract. “EASYF”s can be withdrawn but always maintaining the initial balance to be eligible for the next payment. If at any time the wallet balance is less than the initial balance, the monthly 5% bonus that would have been due to that person and that was pending to be transferred until the 12 month period is completed, will not be sent and will be burned.

 

2.3 How do we approach IEO?

  1. During the pre-sale period and with the license granted, we will negotiate with the main centralized Tier 1 and 2 exchanges such as Binance, Bittrex, FTX, Huobi, Okex, Kucoin, Bitmex … and other smaller but well positioned in specific markets such as ChainX in South Korea.
  2. We are also studying the launch on decentralized exchanges such as Uniswap and we see a very interesting option for Balancer as the main decentralized exchange for EASYF (in March they launch a new version and we have direct and close contact with its founder through one of our advisor).
  3. And another option we are considering is to bridge to Binance Smart Chain (BSC) and list the EasyFeedback token in PancakeSwap.

 

The EASYFs sold in private sale to individuals and companies committed to our mission and to advisors, will be delivered through a vesting contract (gradual collection of the EASYFs) of at least 2 years. In both cases from the moment of being listed in an Exchange.

We will systematically inform about the evolution of the EasyFeedback token but until July 7 we will not announce the amount raised. We do not want to influence the interest or disinterest of potential buyers because the sale of EASYF goes fast or slow. The speed of the token sale will change due to the entry of business angels, family offices, venture capital, investment pools, etc. with whom we have not wanted to contact until the pre-sale begins.

Our recommendation is to invest in EASYF, but it requires a good understanding of our business model based on the intrinsic value hidden in the original, useful, transformative feedback that improves the world. A hidden intrinsic value that thanks to the Proof of Feedback (PoF) will be recognized. To trust in the medium and long-term potential of this reality and in the team that is building it and bet on “Buy & Hodl”.

Thank you for your interest in our business. 

Honorio Ros 

CEO EasyFeedback Token 

Updated as of 15 March


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