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Mint/Upgrade Your ESBT
Containing the content of how to apply and update ESBT, and the benefits.
It's super easy to mint your ESBT now.
One of the aims of ESBT is to show the user’s identity in the EDE ecosystem. Users with more contributions will get more ePoints and thus a higher ESBT level. The higher the level, the higher trading fee discount and rebates rate will be for that user, as well as a shorter aEDE token vesting time.
More benefits will be added to the higher level ESBT accounts in the near future, such as a higher amount of the airdropped aEDE tokens, and a higher voting weight multiplier to their staked governance tokens.
To upgrade your ESBT, you need to accumulate the ePoint.
ePoint is mainly used to measure the contribution of users to the EDE platform and community. Users could receive ePoints by being a Trader, an ELP minter, and joining the EDE referrer program, etc.
As we want traders to be encouraged to use the EDE platform, we will be rewarding traders more than other users within our ecosystem.
The system will update users' ESBT level every 24 hours so long as a point rewarded transaction takes places. Meaning, that if you are at 00:00 time before an upgrade occurs, you must either do a swap, deposit / mint ELP or do small trade in order for the refresh to your rank to be pushed through.
Points are not a perpetual system but rather a system that encourages continuous contribution to the ecosystem. Each month, a slight depreciation of points will occur, roughly 10%.