Hello, ErgoPad family! Are you ready for the next IDO? Let's get started!
We are excited to announce the next IDO: ErgoPOS, a blockchain payment solution consisting of a hardware POS terminal and software that combines the blockchain and the real business world.
Are you ready to pay with ERG or other native tokens in your favorite local store? Beyond the hardware and software, ErgoPOS plans to build an ecosystem around their point of sale units that are mobile and easy to use.
Until recently, point of sale (POS) terminals have been mostly backed by each country’s mainstream banks, institutions which are resistant to allow decentralized cryptocurrency to be accepted at their POS terminals. Have you ever thought why? Payments made through cryptocurrencies typically bypass financial institutions, which side-steps their fee structures. For the consumer, this is one of the benefits of cryptocurrency, but for the banks its one of the biggest drawbacks.
As blockchains become more common and cryptocurrencies become more mainstream, having cryptocurrency acceptance on point of sale (POS) systems will be valuable to consumers. This is because the POS system is one that everyone must use and participate in; bills and receipts are all around you from the time you were born.
Here is the part where ErgoPOS brings a simple and elegant solution! ErgoPOS is a mobile and convenient checkout payment system that includes hardware, software, and it's own ecosystem, including the following:
- Cashier system — lets you set individual prices, manage customer and product information, print receipts and invoices, and support the tax code and tax rate of different countries..
- Ergo Payment system — accepts ERG and it’s native tokens, as well as sigUSD, as payment currencies. Other popular cryptocurrencies, such as BTC, ETH, USDT, USDC, and more, will be added in the future.
- Ecosystem — With the help of a platform and API that connects to local service providers, ErgoPOS users will be able to pay for things like utilities, insurance, mobile top-ups, etc. with ERG or other cryptocurrencies that ErgoPOS supports.
- Terminal — It is powered by an Android system, has a 58mm wide thermal printer, and a camera head that can read QR codes.
Who is behind the ErgoPos team and what's their vision?
Wouldn’t it be amazing if you woke up, went to a coffee shop, and bought your coffee by scanning a QR code and paying with your ERGs? No need to deal with a centralized exchange and trade Erg for fiat first.
That’s exactly what the ErgoPos team plans to do. They want to make the Ergo blockchain ecosystem better by making it easier and more common to pay with cryptocurrency. At the same time, bringing good returns to their team as well as to $EPOS holders.
The people behind ErgoPOS have been working in the traditional point-of-sale business in the same area for more than 17 years. They have made several attempts to bring cryptocurrency to traditional POS terminals for years, but the banks have turned them down every time, due to strict requirements that are difficult to satisfy. Regulation doesn’t exist and their legal teams have been unable to connect the dots.
The ErgoPOS team decided to bypass the banks and build their own system. The goal is to get more people to contribute to blockchains and while promoting the benefits and advantages of Ergo.
$EPOS Token and it's benefits:
What is the real use-case of the $EPOS token? What kind of benefits do I get by holding $EPOS tokens? Here is a short description of the ErgoPOS token that tells you everything you need to know about it.
- Merchant Withdrawal fees: Whenever a merchant makes a withdrawal, a certain amount of $EPOS must be paid as a withdrawal fee. The transaction fee is tentatively set to be 0.25% of the total withdrawal amount. That means if someone is withdrawing $1000, the customer has to pay a fee of 0.25%, which is $2.50 in $EPOS. These fees will be distributed among the ErgoPOS treasury and it's liquidity providers.
- Liquidity farming rewards: A significant portion of $EPOS tokens will be set aside for an LP farming pool on Ergodex. Token holders can choose to add liquidity to the dex and stake it in the LP pool in exchange for more $EPOS tokens as liquidity farming rewards. This will simultaneously build the liquidity pool, meaning it can support higher volume of $EPOS trading, while rewarding holders at the same time.
Final Remarks and IDO details:
Now what? How can I participate in the ErgoPos IDO?
ErgoPOS will IDO through the Ergopad platform, with two early contribution rounds. The DAO will raise funds using smart contracts which lock tokens in vesting contracts. To participate in these pre-IDO rounds, you may stake Ergopad tokens in the tier system. If you are unfamiliar with this system, read the Ergopad Whitepaper and take a look at the Ergopad Staking page. If you still have questions, the Ergopad Telegram and Discord groups are full of helpful people.
If you are already staking Ergopad, please whitelist your address on the ErgoPOS staker whitelist form. For more information, you can read the ErgoPOS project page on ErgoPad, which includes the project team, socials, IDO roadmap (including all relevant dates), and tokenomics.
We sincerely thank each and every member of our community for their support. We will continue to update you on the IDO process through our socials. Stay tuned for more news and updates!
Thanks for reading, and see you next time.
-The ErgoPad Team