27. January 2023

eCredits to implement eVault feature

By now you’ve probably noticed: inflation’s eating away at your money. Traditional savings accounts no longer pay interest, leaving fewer options to grow your assets. Wouldn’t it be great if you could get a reward with certainty these days?

Now you can, with eCredits’ upcoming eVault feature.

What is it?

eVault will allow users to transfer their eCredits (ECS) for a period of one year and receive a return of two, three, or even six percent of their transferred assets, based on a subscription membership, via a secure smart contract. eVault will allow users to earn rewards while helping build a new economy — by the people, for the people — using the eCredits Ecosystem.

How will it work?

eVault is secure, convenient, and rewarding: ‘eVaulted’ funds are hosted on eCredits’ secure public blockchain and placed in smart contracts – the ‘vault’ – independent of and beyond the reach of eCredits and The People’s SCE. For added security, eVaulted, smart contracts will be audited by two separate entities. Users will be able to start eVaulting, set the duration, and claim their rewards at any time, minus transaction costs, and claim rewards between two and six percent, based on their subscription status.*

Four easy steps

The new subscription models will be available for eCredits Consumers next week. Stay tuned for subscription details. Once available, to get started simply open the eWallet App and choose from Free, Gold, or Platinum Subscriptions, create your plan and set your eVaulting amount, lock in your ECS in a Smart Contract, then collect your rewards at a time of your choosing. Your ECS will generate throughout the eVaulted period based on your subscription status.

Your smart contract will ensure maximum safety and transparency; eVaulters will be able to track their status and rewards accrual in real time throughout the entire process. There are no minimum deposit requirements, and returns are guaranteed.

Again, more details will be released soon. But after the starting date potential eVaulters are advised to act quickly: the initial eVaulting cycle will utilize a maximum capacity of 3.75 million ECS (roughly equivalent to 150,000 EUR as of today). This is a finite amount, to which Gold and Platinum subscribers will have early access to eVault funds – and subsequent rewards.

Join the new economy – today

eVault is designed to be a flexible and secure way to grow your assets – and sidestep inflation – unseen in today’s banking industry. It will be a means of helping to create an alternative marketplace, by the people, for the people, and for users to get rewarded in the process.

eVault will be an inherently democratic alternative to the status quo: eVaulting is supported by The People’s SCE, the European Cooperative Society that powers applications on the eCredits blockchain and empowers SMEs and consumers to partake in decision making on the eCredits platform.

More details will follow next week! So stay tuned for updates on new Subscription plans and the eVault starting date! 

*eVault will be available to users as a Basic (cost-free) feature or as a subscription with two tiers: Gold and Platinum. Fixed returns will be: 2% for regular (free) subscriptions, 3% for Gold and 6% for Platinum. Gold and Platinum subscriptions are available for €80 (EUR) and €499 (EUR) per year respectively.

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