What Is Egoras Credit (EGC)?
Egoras Credit (EGC), the utility token of Egoras technologies, Africa’s fastest-growing clean energy pioneer, paves the way for emerging economies like Nigeria to transition from fossil fuels to sustainable alternatives.
Why Egoras Protocol
- Automated payments: A decentralized infrastructure that enables automation of payments, which reduces errors and increases efficiency. For example, a maintenance provider can be paid automatically from the tresury when they perform maintenance on factory equipment.
- Improved human resources management : A protocol that can help streamline a variety of traditionally labor-intensive HR tasks, such as tracking hours worked and paying workers accordingly. People’s employment histories are recorded and authenticated.
- Decentralized Finance liquidity: The protocol allows users to stake tokens in order to participate in the manufacturing process and earn rewards. The manufacturing process is funded by the staked tokens, and the manufactured products are stored in the protocol’s inventory.
- Inventory management: A single-source inventory protocol provides real-time, comprehensive, and up-to-date perspicacity into product stock levels, thereby helping to forestall costly overstocking.
The Purpose Of Egoras Credit
The Egoras roadmap is in full gear, with the upcoming debut of several landmark developments in Q1 2024. Following the highly anticipated launch of the Egoras Apex electric vehicle, the Egochain blockchain and companion Egoras credit (EGC) utility token will emerge, laying the foundation for a robust ecosystem.
Egochain: A Powerhouse for Innovation:
Egochain will serve as the backbone for smart contract functionality, akin to Ethereum. This opens doors for a plethora of possibilities, including:
- Decentralized applications (dApps): Third-party developers can build innovative dApps for the Egoras ecosystem, such as music players, navigation platforms, and more. Egoras Apex owners will enjoy seamless access to these dApps directly on their car dashboards.
- Fuel for the Ecosystem: EGC will be the native fuel for Egochain transactions, similar to Ether for Ethereum. This creates a closed-loop system where every interaction within the ecosystem, from purchasing Egoras products to utilizing dApps, will drive demand for EGC.
Multiple Use Cases for EGC:
EGC’s utility extends beyond Egochain transactions. It serves as the key to various functionalities within the Egoras ecosystem, including:
- Payment gateway: Purchase Egoras products like tricycles and cars through Egopay using EGC.
- Governance: Participate in the decision-making process of the Egoras protocol on Egodao by holding EGC.
- Distributorship fees: Settle distributorship fees on Egopdao using EGC.
- Ridesharing: Pay for rides within the Egoras Uber-like service using EGC.
Demand Fueled by Ecosystem Growth:
As the Egoras ecosystem expands and adoption of its products and services increases, the demand for EGC is expected to rise proportionally. Its multifaceted utility as a gas token, payment method, and governance tool creates a strong incentive for users to hold and utilize EGC, further strengthening its position within the Egoras ecosystem.
