Embarking on its journey in 2017, the Energi project has evolved into a formidable force in the cryptocurrency realm, launching its mainnet in Q2 of 2018. From its inception, Energi opted for a Proof of Work consensus, swiftly transitioning to the energy-efficient Proof of Stake model. What sets Energi apart is its unique distribution model—no ICO, but a strategic distribution through mining and airdrops, disseminating millions in NRG tokens. Monthly, the Energi chain emits 1,000,000 NRG, with 10% going to stakeholders, 40% to the treasury fund, and the remaining 50% to the backbone and NRG Masternodes.
EnergiSwap DEX: Pioneering EVM Compatibility
Energi's evolution took a significant leap in the first quarter of 2020 when it achieved compatibility with the Ethereum Virtual Machine (EVM). This development paved the way for the rapid expansion of DeFi, resulting in the creation of the EnergiSwap DEX. Functioning akin to UniSwap with a familiar interface, the DEX supports numerous trading pairs, facilitated by the Energi Bridge. This bridge allows the seamless migration of tokens from Ethereum to Energi, showcasing a plethora of bridged assets on EnergiSwap Dex, including tokens from 1inch, Aave, ADA, and more.
Energi Governance: The Power of Masternodes
Masternodes, often hailed as Network partners, wield governance control over the Energi blockchain. Proposals submitted by the Energi community are subjected to Masternode voting, directing the trajectory of the project. A higher number of Masternodes contributes to a more decentralized network. Apart from steering the network's course, Masternodes are lucratively rewarded, receiving 40% of the emitted NRG tokens, yielding an impressive Annual Percentage Yield (APY).
Energi Network Stats: A Glimpse into Growth
While the Energi network may not have processed as many transactions as some of its counterparts, the evident growth is promising. The Energiswap DEX alone handles nearly a million in daily trading volume, with liquidity surpassing 13 million. As the network continues its upward trajectory, the potential for processing millions of transactions daily becomes a plausible future scenario.
Dapps & Explorers: Navigating the Energi Ecosystem
The Energi ecosystem, in its early stages of EVM compatibility, has birthed a robust DEX, EnergiSwap. While the Dapp landscape is still emerging, the substantial treasury allocation for development fuels optimism. The Energi Explorer provides insights into the network's statistics, offering a comprehensive view of its current state.
Energi Wallets: Seamless Integration and Staking
With Energi's EVM compatibility, integration into various wallets becomes a seamless endeavor. Because of this wallets like Metamask can also support the Energi blockchain. The anticipation is high for increased wallet support as the network and ecosystem expand. For users seeking an Energi wallet, options are available on dedicated platforms. These wallets facilitate staking, enabling users to earn yields on their NRG tokens. However, a reminder that this information is not financial advice, and users should make their own informed decisions.
As Energi continues to carve its niche, the ongoing developments, governance structure, and integration capabilities into popular wallets position it as a dynamic player in the crypto space. For those eager to incorporate Energi into their crypto portfolio, a step-by-step guide on adding Energi to Metamask awaits below. Empower yourself to explore the potential of Energi and engage with its multifaceted ecosystem.
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