[Luxembourg] eCredits, a decentralized, blockchain-based ecosystem empowering local businesses and democratizing the way everyday transactions take place, is launching eVault, a new feature that enables eCredits users to earn rewards for committing their eCredits (ECS) on the network for a fixed period of one year, on Monday 6 February 2023
eVault is designed to support the development of eCredits by ensuring that transactions on the network are verified and secured in a decentralized manner by network participants. To access eVault, users need to download and register on the eCredits eWallet App which is available on the App Store and Google Play.
Bernhard Blaha, CEO of The People’s SCE, commented: “With the launch of eVault we are providing an alternative to traditional savings accounts with low-interest rates and few benefits by empowering consumers with fixed rewards. Powered by the eCredits decentralized public blockchain, eVaulted funds are safe, secure, and untouched. This new feature enables us to further bolster our ecosystem by welcoming new members dedicated to building a sustainable, accessible, and people-led economy.”
eVault allows users to lock their eCredits (ECS) for a period of one year and receive a reward of two, three, or even six percent of their transferred assets, depending on a subscription membership, via a secure smart contract. eVault users with a Free subscription earn a 2% reward over one year, while Gold and Platinum subscribers will receive 3% and 6% annual rewards, respectively. Gold and Platinum memberships are available as subscription services for €80 (EUR) and €499 (EUR) per year respectively.
“At eCredits we are creating a people's currency for everyday use. We are integrating decentralized finance into everyday life, from purchases and rewards to savings. We look forward to rolling out more features and further expanding the eCredits Ecosystem in the year ahead,” added Bernhard Blaha.
eVault is powered by The People’s SCE, a Decentrally Governed Organization (DGO), powering applications built upon the eCredits Blockchain and empowering SMEs and consumers to partake in decision making in the eCredits Ecosystem.
