AMA Recap: EcoCREDIT x Infinite Launch

We would like to express our gratitude towards those who joined the AMA on 23rd Jan 2022 in the Infinite Launch Telegram group. We appreciate all your support. This is a recap of the entire session, in case you missed it!

Our AMA with EcoCREDIT comprises of 3 main sections:

1.       5 basic questions from the host to give a brief introduction about the project.

2.       4 questions from community members on Twitter.

3.       Live AMA: 5 random questions from our community.

1st Segment: QUESTIONS FROM HOST

Q1. Could you please tell us a little bit about yourself and your team? What are your past experiences?

Joe Chief: Thanks for the kind words, we are very happy to have Infinite launch as a partner.

EcoCREDIT is a platform that tokenizes carbon offsets making it thousands of times faster then how it is done now. The technology allows developers to build applications using our tokenized carbon offsets API.

The first application built on EcoCREDIT is Ecolands.

Ecolands is a sustainable metaverse where you can buy NFTrees that represent real world items such as the Eiffel tower or a lambo.

People then get these in their own metaverse where they compete to be the most sustainable players!

Whenever people buy an NFTree a specific amount of trees are planted in the real world connecting real world sustainable living with digital assets for the first time!

We were inspired by the May 2021 ecological bitcoin crisis when Tesla pulled the payment option  on bitcoin. This is when we started to think, how could we make bitcoin green. Then after many many development iterations we discovered that we can make a system that can make anything green.

Q2. Can you share with us the current development stage of EcoCredit?

Ray Buckton: We’re excited to announce that the EcoCREDIT tokenized carbon offset portion of the software is now live on testnet! We’re also ordered the first 100 tons of carbon ready for integration with EcoCREDIT, so we’ll be going live with a fully operational tool for tokenized carbon credits shortly after launch! We need to ensure that we leave no stone unturned in our fight against climate change, so we’re showing the world the power of EcoCREDIT by building the first franchised application ourselves! The development of Ecolands, a gamified sustainability metaverse, will show the world that it can be both easy and fun to join the fight against climate change! We’re pleased to announce that development is going smoothly and the community can expect a development update very soon 🚀

Q3. Can you please share with us something about your competitive edge in this category compared to other projects? What makes EcoCREDIT truly stand out from others from your perspective?

Joe Chief: I love this question!

Currently we have no blockchain based competition that is fractionalizing carbon credits which sells them through API technology. The biggest advantage compared to how the legacy market works is trade size and time. For example currently the min trade size is 50k with a 5 day settlement time, our API allows devs to interface with a real time settlement and a min trade size of 1 cent. Meaning efficiency breakthroughs in the thousands of percentages. This allows a whole new set of sustainable applications to be built that previously were not  possible.

Q4. Can you please provide a detailed overview of your token $ECO, what are its use cases and tokenomics? And especially, how can we buy your token?

Joe Chief: Yes we are very excited about growing the carbon credit market, making it easy and really making an impact using technology :)

The token is built with several features :

- Max supply is 100m tokens

- Deflationary : Token buybackś and burns are done with proceeds from the API integrations

- The more the tech is used the more we burn the token

- Validators can earn yield.

People will be able to stake their tokens in a node which is used to verify the origin of the carbon credits that we bring on-chain. This serves as a core utility of the token and makes sure that the verification layer is decentralized.

The token will be available on Sushi Swap and soon on an exchange!

Our tokenomics are found on https://docs.ecocredit.io/project/tokenomics  

One interesting fact about the tokenimics is that 20% is reserved for Ecolands, our first application. For stakers, rewards, play-to-earn and much more!

Ray Buckton: Fantastic information from Joe here! ☝️

Even the bot liked it 😉

In addition to these fantastic features and use cases, the EcoCREDIT token has deep value in the first franchised application, Ecolands! Users who hold a certain number of EcoCREDIT tokens in Ecolands receive the ability to participate in auctions for exclusive NFTrees that represent unique, non-fungible items in the real world! Things like the Eiffel Tower and Statue of Liberty are all up for grabs. When you purchase these unique assets, you receive passive income in the form of additional EcoCREDIT tokens each time a person visits this landmark in your personal metaverse. By offsetting the carbon footprint of and curating the rarest landmarks, users can earn while they collect and help in the fight against climate change!

Q5. I heard EcoCredit is going to have an IDO somewhere near, can you reveal some for us then?

Ray Buckton: Absolutely!

We're excited to be conducting our IDO on Infinite Launch in the coming days.

Make sure to keep an eye on the countdown timer to secure your allocation! You can read all about the benefits in our recent Medium article announcing the IDO! :)

https://medium.com/ecocredit/ecocredit-x-infinite-launch-9ba796692179

2nd Segment: QUESTIONS FROM TWITTER

Q1. Decreasing carbon footprint is at the core of your values, which is an amazing initiative. I love your concept, but how do you plan to sustain this in the long run, do you have any economic plan in mind?

Ray Buckton: Great question! Indeed our mission is to greenify the world.

Our long term plan is to allow other developers to interface with our core technology, the EcoCREDIT API. This ensures that we don't create a competition scenario but a platform model where we encourage other initiatives to join Eco by making it easy. We can’t possibly build every application ourselves! That's why we're making it easy for developers all around the world to include EcoCREDIT tokenized carbon offsets in their applications, allowing for truly sustainable applications for the first time. This process will make it easy for anyone to work on sustainability and increase the volume of purchased carbon offsets.

In addition to this accessibility, we're actively supporting teams that are passionate about fighting climate change! Franchised applications receive the direct support of the Eco team and brand, allowing for rapid scaling of the most crucial applications for saving our global ecology. In this way, the EcoCREDIT ecosystem allows for the right blend of accessibility, flexibility, support, and brand identity to maximize the long term viability of the platform. 😁

Q2. Can you indicate a feature or features that you like best about the platform so that it can compete with other competitors? What are you most confident about for your platform? Do you have plans to get users to choose your platform?

Joe Chief: Currently we have no blockchain based competition that is fractionalizing carbon credits which sells them through API technology. The biggest advantage compared to how the legacy market works is trade size and time. For example currently the min trade size is 50k with a 5 day settlement time, our API allows devs to interface with a real time settlement and a min trade size of 1 cent. Meaning efficiency breakthroughs in the thousands of percentages.

This allows a whole new set of sustainable applications to be built that previously were not  possible.

Q3. There are some projects in the market similar to your project. Some even have some partnerships on a state basis.  What is the most important feature that distinguishes you from other similar projects?

Joe Chief: Our most important feature is the open API which makes us, to use an analogy, the Appstore of sustainable applications. All sub-apps interface with our API.

Ray will explain some more details.

Ray Buckton: Absolutely. The API opens up an entire world for sustainable applications!

As I briefly explained in the previous answer, any developer can interface with EcoCREDIT and use tokenzied carbon offsets to extend to their users sustainable options. This means that any in-app purchase can directly contribute to the fight against climate change! Spreading this social good both drives traffic to more sustainable applications and aids our global ecology.

Additionally, franchised applications receive the direct support of the Eco brand and team. Rather than hoarding market share, we want to expand the fight against climate change and foster a culture of inclusivity and collaboration. Saving our planet is a team sport, and while market share is important, we see growing the market for everyone as a sustainable requirement for the long term.

By making it easy for anyone to join the environmental revolution, we set EcoCREDIT apart as both industry leaders and the most sustainable entity working on sustainability! 😁

Q4. Does your project have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to Stake to invest?

Ray Buckton: Absolutely it does! 🔥

Every sale of carbon offsets includes a small spread, which is used to both buy more carbon offsets and ensure the sustainability of the project. Additionally, a portion of that spread goes to the buying back and burning of the EcoCREDIT token, ensuring a deflationary supply over time. As new franchised applications come online, there will be additional deflationary mechanisms included in them ensuring that the deflationary nature of EcoCREDIT tokens accelerates and inversely correlates with the success of our fight against climate change!

We burn tokens, not carbon 😎♻️🏝

3rd Segment: QUESTIONS FROM GROUP

Q1. Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?

Ray Buckton: This is a fantastic question and something we're very excited about!

We plan to allow Web2 users to connect to the first franchised application, Ecolands, using their social media profiles! You shouldn't have to have a deep understanding of crypto and DeFi to join the fight against climate change. We're actively working with our industry partners to make it as simple as possible for users to onboard and secure the NFTrees they want and need to join this sustainable revolution.

This process will serve as the first contact for many Web2 users. That's why for the gamified Ecolands Waitlist, we're giving a free NFT to every user that signs up! While not minted on chain at issue, users will receive the ability to formally mint their NFTs on the blockchain when Ecolands goes live this year. This powerful proposition helps us to connect the existing online world with both Web3 technologies and the carbon offset revolution we're fostering with EcoCREDIT!

Q2. The crypto industry is a fast-paced industry, how flexible is your Project to change quickly and keep pace with technology trends? What is your long-term vision for the forecasting industry in which your Project project operates?

Ray Buckton: Another great inquiry!

The crypto industry is indeed one of the fastest moving in the world. Additionally, standing at the intersection of crypto and sustainable development means that we have to be doubly nimble to stay on top of developments and maintain our competitive edge. That's where the power of the EcoCREDIT API comes in. Rather than building every utility ourselves, we're opening up the power of tokenized carbon offsets to the entire world!

We believe deeply in decentralization. By using blockchain to decentralize our technology and using the EcoCREDIT API to decentralize sustainable applications, we're firmly positioning our efforts for the long term.

Q3. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, What makes your project different from other projects?

Ray Buckton: Great point and question.

In terms of short-sighted buildings, absolutely not. Climate change isn't going anywhere, and neither are we. That's why we've public facing and fully transparent in everything we do.

Regarding product development, we're excited to share that we have a working MVP on test net that we will be sharing shortly after launch. Ecolands is also under active development, and the community can expect a formal development update at regular intervals shortly after launch, helping everyone to stay informed as to what we're building for the long term!

Q4. Can you tell us about your team members? are they qualified and professional in their fields? What are the recruiting qualifications for team members for your extraordinary project?

Ray Buckton: For sure!

Excellent question. First I’ll introduce Joe, our CEO. He has a background in robotics and software design. Thanks to this rich industry experience he has a deep understanding of what it takes to build successful companies and engage in long-term, sustainable business dealings. Joe brings professionalism, deep expertise, and firm leadership to the EcoCREDIT team!

And I’m Ray! I have a background in history, finance, and blockchain. I wear a lot of hats and love each of them! I’ve been involved in crypto for over six years, so I’ve seen a lot of projects and teams come and go in this time - this experience gives me a solid understanding of what works in this industry and what doesn’t. I also handle the written content and communication, helping to translate the EcoCREDIT message to the world!

I also am happy to include Jeffrey, the EcoCREDIT CTO. Jeffrey has immense experience in software development, having worked with some of the largest tech companies in existence today. His specific expertise with point of sale systems will aid EcoCREDIT in integrating with businesses and applications around the world.

Together, we make a powerhouse of a team 😁

Q5. Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?

Ray Buckton: Excellent question!

NFTs have taken the world by storm. While the art aspect is engaging and fun, we're also leveraging the practical functionality of NFTs to maximize our positive impact on climate change!

Every batch of carbon offsets procured by EcoCREDIT first gets tokenized as an NFT. The unique, non-fungible qualities of each batch of offsets are then attested to the blockchain, ensuring their long term immutability while also making sure no offsets are double spent. These carbon offset NFTs can then be broken down into tokens which represent one ton of carbon each, serving to standardize the entire market!

By leveraging both the flex and function of NFTs, EcoCREDIT maximizes the value of this revolutionary technology in our collective fight for a sustainable future!

EcoCREDIT Media Channels:

Website: https://ecocredit.io/

Twitter: https://twitter.com/ecocredittoken

Telegram: https://t.me/ecocreditofficial

Instagram: https://www.instagram.com/ecocredittoken/