The Egochain ecosystem utilizes tokenization to represent best-selling products as ego404 tokens. These tokens can be traded on decentralized exchanges (DEXs) and centralized exchanges (CEXs) as ego20 tokens, or even as non-fungible tokens (NFTs). This approach enables the transformation of traditionally illiquid physical assets into liquid digital assets.
Challenge:
While asset tokenization offers a compelling advantage by unlocking liquidity for physical goods, it presents a significant scalability concern. Imagine a company with over 20 best-selling products. Tokenizing and listing each product individually on exchanges (both DEXs and CEXs) would incur substantial costs. Furthermore, maintaining these numerous trading pairs would be financially burdensome.
Solution:
We propose introducing a stablecoin initially pegged to the US dollar and backed by tokenized best-selling products within the Egochain ecosystem. This structure is similar to the Dai stablecoin, which is collateralized by assets on the MakerDAO platform.
In the coming days, we will initiate a swap program to convert all Esta tokens to their equivalent value in EGAX. Egoras products, including tricycles, generators, charging stations, Apex28 devices, and smart televisions, will be tokenized on the blockchain and pegged to our new stablecoin. EGAX holders will have governance rights over these tokenized assets.
The tokenization process will reflect the production value of each product. These tokenized products will be offered for sale at a 50% premium above their tokenized value. The profits generated from these sales will be used to purchase and burn EGAX, thereby increasing its overall demand.
