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This Whitepaper, prepared by Era Swap Token (“EST”). Its purpose is solely to provide prospective community
members with information about the EST project, and it is not an offer or solicitation to buy or sell securities of
any kind, or to invest in any financial instruments.
There will be a Token Generation Event (“TGE”) where community members can buy EST, an ERC 20 Token,
generated on the Ethereum platform. The ownership of this token gives the EST community member access to
the EST ecosystem.
The EST tokens are not intended to constitute securities in any jurisdiction. This Whitepaper is NOT a
prospectus and should not be relied upon to make any financial decisions. No person is bound to enter into any
contract or binding legal commitment in relation to EST’s services. Any agreements reached between the EST
distributor and prospective purchaser regarding the sale of the EST Token is governed by a separate document
that sets out the terms and conditions (the "T&Cs") of the agreement. In the event of any inconsistencies
between the T&Cs and this Whitepaper, the T&Cs shall prevail.
EST platform will follow the best practice, policies, and procedures intended to ensure legal and regulatory
compliance in all jurisdictions within which it operates. All EST members will be required to comply with the
Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) norms
with respect to the global standards.
DISCLAIMER
2
Table of Contents
Market Analysis...........................................................................................................................................4
ERA SWAP Ecosystem................................................................................................................................. 7
Token Economics ....................................................................................................................................10
Time Swapper..........................................................................................................................................13
Era Swap Wallet ......................................................................................................................................15
ComputeEx..............................................................................................................................................16
TimeAlly ...................................................................................................................................................17
Blocklogy .................................................................................................................................................21
Demand and Supply Dynamics ................................................................................................................. 22
Roadmap.................................................................................................................................................... 23
3
ERA SWAP
Market Analysis
4
References: https://www.nasdaq.com/article/the-gig-economy-2020-freelance-workforce-predicted-to-rise-to-43-cm803297
https://www.gsb.stanford.edu/insights/why-working-home-future-looking-technology
https://freelancinghacks.com/20-mind-blowing-freelancing-statistics-remote-work-future/
For thousands of years
humans have shared
various assets. The
internet phenomenon
made it extremely
convenient to match the
asset owner and asset
seeker. This is the
foundation of new ‘shared
economies’.
Freelancing is a significant
part of the new age
sharing economies. From
hand-crafting to a full
stack developer, all sorts
of services can be availed
through freelancers.
Freelancing has incredibly
reduced the fixed costs for
companies. US, the largest
economy in the world,
already seems to be
embracing the idea of ‘gig’
economy as a growing
number of traditional
employees are leaving
their jobs to be their own
bosses through
freelancing.
The nature of future
companies is changing and
numbers indicate that
freelancing will be a major
type of employment in the
future. With this it is
imperative that there will
be a need of freelancing
platforms where people
who extend and avail
services have to be
matched.
Market Analysis
5
The internet phenomenon made it extremely convenient to match the asset owner and asset seeker.
This is the foundation of new ‘shared economies’. So many types of platform aggregators started
providing solutions for our sharing economies. Here are a few examples of these platforms:
 P2P lending platforms: They offer lower lending rates to borrowers compared to traditional
financial institutions
 Co-working platforms: They provide shared open work spaces to various companies,
freelancers, entrepreneurs, etc.
 Freelancing platforms: They connect freelancers with various skills to organizations that
want to avail skills on a need basis
With the rise of such type of services, more and more freelancers believe their career is more stable
than a day job by having a diversified portfolio of clients than just one job with one employer. In 2017
Freelancer.com alone received 13 million job postings with more than $3 billion in paid transactions.
As shared economies grew, they are becoming victims of their own success. Some of the so called
sharing platforms have become indispensable and have started to take advantage of that fact. The
convenience of sharing assets is being used to latch onto huge profits. There is nothing wrong with
making profits, but it should not happen at the cost of robbing off customers.
Problems with traditional centralized freelancing platforms:
 Traditional platform solutions charge about 10-20% fees per transaction.
 Data collected from users becomes company property and the data are used by the company
as they see it fit; uses have no control over their data
 The profits of the platform go to the company and nothing is shared with the users.
The Blockchain Solution
With blockchain the traditional problems could be resolved.
 As there are no intermediaries, there could be huge savings on transaction fees
 Users have control over their data
 Profits can be redistributed among the blockchain ecosystem stakeholders
However, blockchain and cryptocurrencies have their drawbacks.
 Blockchain transactions are slow and hence are not realistic for use cases that are required to
deal with high volume of transactions
 Cryptocurrencies are extremely volatile, which reduces the possibility of using them for
buying and selling services
 To buy or sell cryptocurrencies, users have to go to exchanges, thus they unnecessarily end
up paying transaction fees to move their tokens from their wallet to exchanges
 Lack of blockchain education is a huge obstacle for its adoption
ERA SWAP solution for blockchain problems
6
ERA SWAP ECOSYSTEM
7
Era Swap has several moving parts in its ecosystem that are designed to turn its vision into reality
over a period of time. More often than not most of the projects have their focus on one product, and
they tend to neglect the intra-ecosystem forces that tend to destabilize the ecosystem. Era Swap has
carefully planned to address different aspects of the ecosystem such as growing demand, reducing
the volatility, increasing the adoption of cryptocurrencies, minimizing transaction charges for all the
users, etc.
Apart from the token itself, Era Swap has the following solutions to tackle various problems in the
world of cryptocurrencies.
TimeSwapper is a community based platform where people extend
and avail services from each other on the basis of per unit time cost
quoted by the person offering the service. The most important
components of this platform are time traders (who offer and avail
services), curators (who monitor the platform), day-swappers (active
members who help in growing and maintaining the platform) etc. As
this platform is completely decentralized, blockchain and a native
token, Era Swap, are inseparable parts of the platform.
Era Swap understands that to power the distributed community
platform, there needs to be a solid and secure payment network. For
this purpose, Era Swap will be launching a wallet that supports
multiple digital currencies and is highly secured. This wallet will also
allow you to exchange a few selected tokens within the wallet so that
a user can save extra the transaction charges to move tokens to and
from exchanges.
Today there are so many cryptocurrency exchanges that it becomes
difficult for a user to keep a track of rates at different exchanges. Era
Swap will leverage AI technology to deploy bots that provide best
deals to Era Swap users from various crypto exchanges across the
world even though they are not registered on these exchanges. If this
isn’t enough, ComputeEx offers a 50% discount to EST users.
TimeSwapper Platform
Era Swap Wallet
ComputeEx
ERA SWAP ECOSYSTEM
8
TimeAlly is a meticulously crafted smart contract to reduce the
volatility of EST. It rewards users who choose to lock their tokens in
the smart contract according to their vesting periods. Of all the
rewards by Era Swap, 50% are given up front in liquid tokens and 50%
are routed through TimeAlly over a period of time to keep the volatility
of EST in check. TimeAlly is a very crucial part of the ecosystem as it
controls some of the demand-supply dynamics of the token.
Blocklogy is an educational initiative by Kmpards, an organization
funding Era Swap. Blocklogy is an E-learning platform for students
from 8th grade onwards. The courseware is specially designed to
expose students to blockchain and gradually increase their level so
that within 5 years they are able to code for blockchain related
projects.
TimeAlly
Blocklogy
ERA SWAP ECOSYSTEM
9
TOKEN ECONOMICS
10
The most important part of the Era swap ecosystem is the Era Swap Token (EST). EST will be used on
the Era Swap platform to buy and sell tokenized time.
Before getting any deeper, does Era Swap need a token or even a blockchain?
The answer is a resounding YES! Era Swap is a platform for individuals to offer and avail their services
in the form of tokenized time. We do not want any mediator and to handle high volume of
transactions, the blockchain is essential. Cost saving done by deploying blockchain is significant and
cannot be ignored. The smart contract needed to control the volatility of EST needs a blockchain.
Okay, but why the token? This is a permissioned public blockchain. We need observers to keep a
watch on transactions, we need stakeholders who will resolve disputes emerging from the platform;
to incentivize them, the token is absolutely crucial.
Great, we need the token but what type of token is this?
This is a utility token. The main purpose for creating the token is to be used on the platform for
buying and selling tokenized time. We do not promise any value getting attached to this token in the
future.
Every seller will have to pay $1 for a life time subscription. Out of this, $0.1 worth EST will be
permanently burnt, EST worth $0.1 will be go to charity and remaining $0.8 will go to the distribution
pool.
In Era Swap tokens are pre-mined & are released through a smart contract, at a fixed rate of one
block in every three seconds. New Token Release Decreases by 10% per year. These tokens are
distributed to all the stakeholders in the ecosystem as per their contribution. All the distributions are
paid in the same format: 50% in liquid EST and 50% are locked in TimeAlly and are released on a
monthly basis.
Token Burn Rule
Tokens will be burnt under three circumstances: when a seller subscribes to TimeSwappers platform,
when someone chooses to get a certificate through Blocklogy, and when a borrower defaults on a
TimeAlly loan.
To reduce disruptions, whenever any tokens are getting burnt, it will be followed that in any given
month, the number of burnt tokens will never exceed 2% of the circulating supply for that month. In
case there is a balance of tokens to be burnt, the balance will be carried forward until the desired
number of tokens are burnt.
All the unsold tokens from the ITO (Initial Token Offering) will be put into TimeAlly smart contract.
TOKEN ECONOMICS
11
Team tokens will be released after 1st
Feb 2019
All the rewards mentioned are percentage of newly released tokens.
The distribution of tokens is as follows:
*
*
*
*
TOKEN ECONOMICS
12
TIMESWAPPER: A PLATFORM TO TRADE YOUR TIME ANYTIME, ANYWHERE
13
TimeSwapper platform is probably the most important part of the Era Swap ecosystem. Any person,
anywhere in the world can sell and avail services on this platform. These are called TimeSwappers.
The services will be sold on per unit time basis in exchange for ESTs (Era Swap Tokens). Every service
provider gets to decide how much worth their time is. Rating mechanisms on the platform act as a
feedback mechanism for TimeSwappers to alter the rate at which they are selling their time. Unlike
existing intermediaries neither the seller nor the buyer of services is getting charged to use the
platform. Only charge levied on platform users is that of the blockchain usage. Not only this, all the
stakeholders of Era Swap ecosystem will be rewarded for their contribution to grow and maintain
the platform.
Who can use our platform? Well, almost everyone. Picture this, if you are good at Mathematics and
you want to teach in your free time, you can join the platform with $1 worth EST. You can then create
your profile, and quote a price for your services and you are set. Students from across the world who
want to learn Mathematics will be able to see your profile and can decide whether they want to learn
from you. Unlike other platforms, Era Swap lets the two parties communicate with each other. But
then, why would they want to use the platform? Well, all the TimeSwappers are rewarded to use the
platform through our TimeAlly smart contract. Over and above this, those who aren’t actually
TIMESWAPPER: A PLATFORM TO TRADE YOUR TIME ANYTIME, ANYWHERE
14
involved in the transaction have the option to witness the transaction or verify it. Members will be
awarded for witnessing as well as verifying the transactions.
This way, Era Swap is a completely peer-to-peer platform. For the initial period, there will be an
assigned custodian for the smooth functioning of the platform and to ensure no illicit activities are
taking place through the platform. While doing this, the custodian will not meddle in any transaction.
They will only be in the observing capacity. Over a period of time, curators will be trained to monitor
the platform. Once things are streamlined, the custodian will have a very limited role to play and the
platform will fulfill its true vision of being completely decentralized.
To help the sellers build their profile
on the platform and attract
attention, Era Swap will allow them
to integrate and log-in to their social
media accounts such as LinkedIn,
Twitter, YouTube, Facebook etc. For
instance it will be a lot easier to hire
a photographer if the service buyers
can see his or her Instagram.
The platform is initially built on the
ethereum blockchain which later on
will be launched completely on
Steem with about 10,000 transactions per 3 seconds. Era Swap has built several other applications as
a part of the ecosystem to support the platform.
ERA SWAP WALLET: Keep ‘em safe when there’s still time
Hacks and scams have haunted the cryptocurrency industry for a long
time. And we are very serious about the security of our platform
users’ tokens. To make the platform better and to offer extended
solutions for our users, we are building a wallet that has multi-factor
authentication along with biometric authentication for security. The
private keys are stored only with the user. The wallet will support
multiple digital currencies such as BTC, ETH, and ERC-20 tokens. In-
wallet swaps will be enabled for certain select tokens through
integration of ComputeEx, our exchange offering. This way we will
help our users save on transaction fees they incur when they move
their assets to and from exchanges. The wallet will have a best in
class UI with all features such as token spending and value graphs,
etc.
WALLET FEATURES
In wallet token swap to save
users’ transaction costs
Multifactor + Biometric
Authentication
Automatic buying and selling
at price triggers
Private keys stored only with
the user to ensure maximum
security
ComputeEx: Why go to many, when one can do it all for you?
Every time a user wants to trade cryptocurrencies, they have to move
their tokens to the exchange. During the process they are charged
transaction fees. ComputeEx is designed as a power exchange to allow
in wallet swaps of selected tokens.
There are so many cryptocurrency exchanges in the world right now
that it is getting cumbersome to keep a tab of all the assets across
these exchanges. Picture this, your favorite ICO token is getting on an
exchange you aren’t registered on. You are forced to get registered on
that exchange. We understand this problem and are trying to resolve it
through ComputeEx. Trading bots, deployed using AI, will fetch the
best prices from across the exchanges and will allow users to buy or sell
tokens on any exchange irrespective of whether they have an account
on that exchange. ComputeEx brings all the crypto exchanges at a
single point of contact.
This is one of the revenue sources for the platform. Users will be
charged to execute trades on their behalf and there will be a 50%
discount for users paying the fees in EST.
Now, the user has to
get registered on
multiple exchanges
ComputeEx provides a single point of
contact for multiple exchanges
TIMEALLY: A contract to rule them all
17
Volatility: A curse we all are trying to lift
Bitcoin or cryptocurrency maximalists have a dream that one day
cryptocurrencies such as bitcoin, Litecoin etc. can be money for the entire
planet. However, this seems like a distant dream as of now. Most of the
investors have started looking at bitcoin as a store of value than a mode
of payment. Closer inspection of characteristics of money unveils that
one of the most important factors why bitcoin or any other
cryptocurrency cannot be money right now is the high volatility in their
prices. Though bitcoin’s volatility is decreasing over time, it is still notches
higher compared to traditional assets such as gold, silver or currency
pairs such as USD-GBP. And it is not acceptable for anything as volatile to
be called money. This volatility makes people apprehensive of
cryptocurrencies as a form of payment.
Era swap is trying to tackle this problem by using Era Swap smart contract
called that governs the distribution of EST (Era Swap Token). Time Ally
incentivizes EST holders to HODL for longer periods of time. When the
token holders opt for TimeAlly, their tokens are locked up for the
duration they choose. As these tokens are locked up, there are fewer
tokens in the circulating supply that might otherwise have caused more
volatility. As the users opting for Time Ally contracts are contributing
towards reducing the volatility of EST, they are rewarded in correlation
with the duration for which they opt to lock their tokens in the smart
contract. This forces users to keep their tokens in the ecosystem, thereby
decreases the volatility. The decrease in volatility will encourage Time
Swappers to trade services on the platform as the value of their tokens
remains intact. Reduced volatility will encourage more and more sellers
to join the platform as they do not have to worry about the ‘changing
value of their worth’.
Another subtle aspect of Time Ally is the fact that on one side it sucks the
supply out of the market and on the other, as a by-product of reduced
volatility, it boosts the demand. For investors who do not want to get
into maximizing their tokens by day-trading, TimeAlly has a wonderful
solution. Investors who choose to use TimeAlly will keep increasing their
tokens, and with the reduced supply, the worth of EST is expected to go
up as well. So, investors who wish to just hold, benefit by an increase in
the number of tokens as well as the value.
Time Ally is
carefully crafted
to maximize
investors’ worth
by controlling
supply on one side
and increasing
demand on the
other.
TIMEALLY: A contract to rule them all
18
To give the platform a truly distributed structure, TimeAlly is carefully
constructed to reward each and every stakeholder, who will extend help
in supporting or growing the Era Swap ecosystem.
How it will be done*
While TimeAlly rewards all the users, 50% of the amount is liquid, i.e. up
front EST, and 50% is locked up in the contract. When a user wishes to
withdraw tokens from the TimeAlly contract, their tokens are released in
two years with 104 equal installments.
50% of the newly released EST would be distributed to users on a timely
basis the through TimeAlly smart contract.
Of these tokens, 50% are assigned to the work pool. Further, the work
pool tokens are divided into curators (10%), time traders (10%), referral
bounty for day swappers (25%), and Buzcafe (5%). 20% of the TimeAlly
tokens are distributed as power tokens. These tokens are to be given
away by community members to other stakeholders in the ecosystem
who help in growing and maintaining the ecosystem. Power tokens are
valid only for 30 days. If not given away within that time, these tokens are
burnt. The rest of the TimeAlly tokens (30%) are distributed to the stakers
in correlation with their vesting periods.
There might be a chance that members will favor certain other members
while distributing the power tokens. However, if this distribution is not in
sync with the receiving members’ reputation score on the platform, the
legitimacy of the power tokens received could be questioned. This is
where curators of the platform will come into play. They can keep a tab
of how the power tokens are getting distributed and keep the fraudulent
activities in check.
TimeAlly is really a unique proposition by Era Swap to increase the
demand of its tokens and make the entire ecosystem ‘distributed' in a
true sense. Incentives such as power tokens push the platform and the
entire ecosystem, in turn, towards decentralization. While most of the
ICOs just talk about being distributed, Era Swap has meticulously chalked
out a path towards being distributed and decentralized in a true sense.
Staking
With Power
comes a
responsibility to
distribute
TimeAlly
incentivizes all
the stakeholders
to take part in
making the
ecosystem truly
distributed and
decentralized
TimeAlly: A contract to rule them all
19
TimeAlly: A contract to rule them all
20
Apart from solutions mentioned above, TimeAlly has multiple other offerings the growth of the
ecosystem in the future
TIMEALLY CRYPTO MUTUAL FUND
By leveraging powerful AI we will provide users with
automated risk profilers, choose EMI, mode of
contribution such as EMI (Equal Monthly Installments),
quarterly, annually etc. Predictive analytics bots will be
deployed for market analysis to pick good investment
opportunities.
TIMEALLY INSTA DEBIT CARD
Era Swap plans to partner with a third party to bring
anonymous pre-paid smart debit cards to use crypto funds
like conventional money. This card can be used by users in
places where only the conventional banking payments are
accepted. Users can get these pre-paid cards from various
‘BuzCafe’ retailers empanelled in Era Swap ecosystem.
TIMEALLY BUZCAFE
TimeAlly will tie-up with various outlets and all of these
will be utilized for Era Swap branding. Ratings & service
guideline will get 2.5 % of Newly Released Era Swap Token
distribution as bonus. TimeAlly BUZCAFE will have IOU
based outlets, facilities, websites offering special deal &
services to TimeAlly holders.
TIMEALLY INSURANCE
The policy issued will be based on efficient underwriting
norms of smart contract removing middleman and
physical processes. AI-based Efficient Risk management,
no dilution on mortality. TimeAlly will create provision for
users to get their premium adjustment from TimeAlly
payouts, TimeAlly Rewards & TimeAlly Power.
TIMEALLY DEFLATION FORCE
Whoever wants to offer their services on the platform will
have to undergo a KYC process costing $1. This is a lifetime
charge. With this $1 worth EST will be bought, $0.8 worth is
re-distributed to the community, $0.1 worth is permanently
burned and $0.1 worth will go to charity.
TIMEALLY LOAN
A user can take an instantaneous short term (max. 2
months) EST loan up to 50% of staking amount paying 0.5
% per month. To avoid the double spent possibility,
TimeAlly’s benefits will stop for the lender amount once
TimeAlly’s lending amount is approved on blockchain.
TimeSwapper will be equipped with a peer to peer lending
escrow smart contracts for users. In case a borrower fails
to pay back within 2 months, remaining 50% of their
tokens will be burnt as per the token burn rule.
BLOCKLOGY: An education initiative for the future
21
Era Swap understands the importance of blockchain; and
also believed that blockchain coding will become an
important tool to have from a career perspective. To a
certain extent, it already is. There is a severe knowledge
gap in the blockchain field. To address this, Kmpards, the
parent organization of Era Swap, is designing an Edu-tech
platform to for students and others for not only to learn
about blockchain but be experts at it. This app will have
curated courses for students 8th grade onwards.
Students will learn right from what blockchain is, all the
basics to coding smart contracts. Though the education
will be completely free, Era Swap will charge $1 for the
certificates. This fee will be waived off for students who
cannot afford it. And this will serve as the second source
of revenue for Era Swap. Era Swap will have tie-ups with
schools across the globe. There will be special incentives
for schools that integrate Blocklogy with their curriculum.
All the courses will have weekly milestones. The teachers
will be specially trained to help students. The vision is to
make the student coding-ready by the time they finish
12th grade. This way they will be ready to take on
blockchain coding assignments (full stack developers earn
up to $200 per hour). This way, students are not only
learning about the blockchain but also investing in their
future!
The Demand and Supply Dynamics
22
The value of any token is a function of demand and supply. Though there cannot be any guarantees
about future value of tokens, we have designed our ecosystem so that each and every stakeholder
benefits from it. We plan to control the supply disruptions through TimeAlly smart contract and
carefully measured token burns. To grow the platform, several ways to create demand have been
devised. Utmost care has been taken to keep the volatility in check.
Roadmap
23
24
PRIVACY POLICY
The profile of all the members on the platform shall be explicitly confidential and not disclosed to any other
member of the platform unless an express consent is sought by the member. Data will be held in a distributed
fashion. This is important to avoid the user data breaches that befall centralized databases.
The use of KYC (know your customer) is always a balance between the freedom of anonymous use of
cryptocurrencies and the ability to interact with other businesses, banking institutions and all countries. We
have made the decision to use KYC on all purchase of tokens for the good and long-term success of the ERA
SWAP community.
RISKS IN PARTICIPATING IN OUR TOKEN SALE
Era Swap is committed to maintaining compliance with laws, regulations and licensing requirements to achieve
sustainable growth. Our platform will enforce any applicable rules regarding money transfer, user protection,
and data security. We aim to act with the highest standards of integrity, honesty, and accountability.
Given the current regulatory environment surrounding cryptocurrency, the buyer must acknowledge and
disclaim the risk of participating in an ICO Token Sale. The buyer needs to understand that if any change of
regulation occurs, Era Swap will always strive to remain in compliance with the laws, and this could adversely
affect the Era Swap Tokens at any time.
Era Swap does not guarantee that the Tokens are reliable, error-free, or that any defects in the tokens will be
corrected. We will take precautions to ensure the Era Swap Tokens work as intended, but we cannot warranty
that the Tokens or delivery mechanism for the tokens are free from viruses or other harmful components. We
do not provide you with any software other than the Tokens.
The Era Swap Project shall not be liable for any indirect, incidental, special, exemplary or consequential
damages, including loss of profits, goodwill or data, in any way whatsoever arising out of the use of the Smart
Contract System, or the Era Swap Tokens.
Dispute Resolution; Arbitration
PLEASE READ THE FOLLOWING SECTION CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE CERTAIN
DISPUTES AND CLAIMS WITH US AND LIMIT THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM US.
Binding Arbitration: Except for any disputes, claims, suits, actions, causes of action, demands or proceedings
(collectively, “Disputes”) in which either Party seeks to bring an individual action in small claims court or seeks
injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without
limitation, copyrights, trademarks, trade names, logos, trade secrets or patents, both you and us shall (i) waive
our respective rights to have Disputes arising from or related to these Terms resolved in a court, and (ii) waive
our respective rights to a jury trial. Instead, we will arbitrate Disputes through binding arbitration (which is the
referral of a Dispute to one or more persons charged with reviewing the Dispute and making a final and
binding determination to resolve it instead of having the Dispute decided by a judge or jury in court).
No Class Arbitrations, Class Actions or Representative Actions: Any Dispute arising out of or related to these
Terms is personal between you and us, and will be resolved solely through individual arbitration and will not be
brought as a class arbitration, class action or any other type of representative proceeding. There will be no
class arbitration or arbitration in which an individual attempt to resolve a Dispute as a representative of
another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of
representative action, whether within or outside of arbitration, or on behalf of any other individual or group of
individuals.
We hope it would never come to this and will take every effort to be a company worthy of your trust.
CONCLUSION
We have studied how the token price could evolve considering that user’s reinvesting part of their profits
obtained participating on our crowdfunding site in purchasing more Era Swap tokens to increase their
investment activity. This strategy will give enormous traction and a big boost to our crowdfunding marketplace
site which will heavily promote the use of the Era Swap token, causing its value growth. It also ensures that our
company will be successful, self-sustaining and will generate profits from year one.
No currency can guarantee absolute stability, but we believe that the Era Swap token is an asset that is
designed to increase in value by design.

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Era Swap Whitepaper English

  • 1.
  • 2. 1 This Whitepaper, prepared by Era Swap Token (“EST”). Its purpose is solely to provide prospective community members with information about the EST project, and it is not an offer or solicitation to buy or sell securities of any kind, or to invest in any financial instruments. There will be a Token Generation Event (“TGE”) where community members can buy EST, an ERC 20 Token, generated on the Ethereum platform. The ownership of this token gives the EST community member access to the EST ecosystem. The EST tokens are not intended to constitute securities in any jurisdiction. This Whitepaper is NOT a prospectus and should not be relied upon to make any financial decisions. No person is bound to enter into any contract or binding legal commitment in relation to EST’s services. Any agreements reached between the EST distributor and prospective purchaser regarding the sale of the EST Token is governed by a separate document that sets out the terms and conditions (the "T&Cs") of the agreement. In the event of any inconsistencies between the T&Cs and this Whitepaper, the T&Cs shall prevail. EST platform will follow the best practice, policies, and procedures intended to ensure legal and regulatory compliance in all jurisdictions within which it operates. All EST members will be required to comply with the Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating Financing of Terrorism (CFT) norms with respect to the global standards. DISCLAIMER
  • 3. 2 Table of Contents Market Analysis...........................................................................................................................................4 ERA SWAP Ecosystem................................................................................................................................. 7 Token Economics ....................................................................................................................................10 Time Swapper..........................................................................................................................................13 Era Swap Wallet ......................................................................................................................................15 ComputeEx..............................................................................................................................................16 TimeAlly ...................................................................................................................................................17 Blocklogy .................................................................................................................................................21 Demand and Supply Dynamics ................................................................................................................. 22 Roadmap.................................................................................................................................................... 23
  • 5. Market Analysis 4 References: https://www.nasdaq.com/article/the-gig-economy-2020-freelance-workforce-predicted-to-rise-to-43-cm803297 https://www.gsb.stanford.edu/insights/why-working-home-future-looking-technology https://freelancinghacks.com/20-mind-blowing-freelancing-statistics-remote-work-future/ For thousands of years humans have shared various assets. The internet phenomenon made it extremely convenient to match the asset owner and asset seeker. This is the foundation of new ‘shared economies’. Freelancing is a significant part of the new age sharing economies. From hand-crafting to a full stack developer, all sorts of services can be availed through freelancers. Freelancing has incredibly reduced the fixed costs for companies. US, the largest economy in the world, already seems to be embracing the idea of ‘gig’ economy as a growing number of traditional employees are leaving their jobs to be their own bosses through freelancing. The nature of future companies is changing and numbers indicate that freelancing will be a major type of employment in the future. With this it is imperative that there will be a need of freelancing platforms where people who extend and avail services have to be matched.
  • 6. Market Analysis 5 The internet phenomenon made it extremely convenient to match the asset owner and asset seeker. This is the foundation of new ‘shared economies’. So many types of platform aggregators started providing solutions for our sharing economies. Here are a few examples of these platforms:  P2P lending platforms: They offer lower lending rates to borrowers compared to traditional financial institutions  Co-working platforms: They provide shared open work spaces to various companies, freelancers, entrepreneurs, etc.  Freelancing platforms: They connect freelancers with various skills to organizations that want to avail skills on a need basis With the rise of such type of services, more and more freelancers believe their career is more stable than a day job by having a diversified portfolio of clients than just one job with one employer. In 2017 Freelancer.com alone received 13 million job postings with more than $3 billion in paid transactions. As shared economies grew, they are becoming victims of their own success. Some of the so called sharing platforms have become indispensable and have started to take advantage of that fact. The convenience of sharing assets is being used to latch onto huge profits. There is nothing wrong with making profits, but it should not happen at the cost of robbing off customers. Problems with traditional centralized freelancing platforms:  Traditional platform solutions charge about 10-20% fees per transaction.  Data collected from users becomes company property and the data are used by the company as they see it fit; uses have no control over their data  The profits of the platform go to the company and nothing is shared with the users. The Blockchain Solution With blockchain the traditional problems could be resolved.  As there are no intermediaries, there could be huge savings on transaction fees  Users have control over their data  Profits can be redistributed among the blockchain ecosystem stakeholders However, blockchain and cryptocurrencies have their drawbacks.  Blockchain transactions are slow and hence are not realistic for use cases that are required to deal with high volume of transactions  Cryptocurrencies are extremely volatile, which reduces the possibility of using them for buying and selling services  To buy or sell cryptocurrencies, users have to go to exchanges, thus they unnecessarily end up paying transaction fees to move their tokens from their wallet to exchanges  Lack of blockchain education is a huge obstacle for its adoption
  • 7. ERA SWAP solution for blockchain problems 6
  • 8. ERA SWAP ECOSYSTEM 7 Era Swap has several moving parts in its ecosystem that are designed to turn its vision into reality over a period of time. More often than not most of the projects have their focus on one product, and they tend to neglect the intra-ecosystem forces that tend to destabilize the ecosystem. Era Swap has carefully planned to address different aspects of the ecosystem such as growing demand, reducing the volatility, increasing the adoption of cryptocurrencies, minimizing transaction charges for all the users, etc. Apart from the token itself, Era Swap has the following solutions to tackle various problems in the world of cryptocurrencies. TimeSwapper is a community based platform where people extend and avail services from each other on the basis of per unit time cost quoted by the person offering the service. The most important components of this platform are time traders (who offer and avail services), curators (who monitor the platform), day-swappers (active members who help in growing and maintaining the platform) etc. As this platform is completely decentralized, blockchain and a native token, Era Swap, are inseparable parts of the platform. Era Swap understands that to power the distributed community platform, there needs to be a solid and secure payment network. For this purpose, Era Swap will be launching a wallet that supports multiple digital currencies and is highly secured. This wallet will also allow you to exchange a few selected tokens within the wallet so that a user can save extra the transaction charges to move tokens to and from exchanges. Today there are so many cryptocurrency exchanges that it becomes difficult for a user to keep a track of rates at different exchanges. Era Swap will leverage AI technology to deploy bots that provide best deals to Era Swap users from various crypto exchanges across the world even though they are not registered on these exchanges. If this isn’t enough, ComputeEx offers a 50% discount to EST users. TimeSwapper Platform Era Swap Wallet ComputeEx
  • 9. ERA SWAP ECOSYSTEM 8 TimeAlly is a meticulously crafted smart contract to reduce the volatility of EST. It rewards users who choose to lock their tokens in the smart contract according to their vesting periods. Of all the rewards by Era Swap, 50% are given up front in liquid tokens and 50% are routed through TimeAlly over a period of time to keep the volatility of EST in check. TimeAlly is a very crucial part of the ecosystem as it controls some of the demand-supply dynamics of the token. Blocklogy is an educational initiative by Kmpards, an organization funding Era Swap. Blocklogy is an E-learning platform for students from 8th grade onwards. The courseware is specially designed to expose students to blockchain and gradually increase their level so that within 5 years they are able to code for blockchain related projects. TimeAlly Blocklogy
  • 11. TOKEN ECONOMICS 10 The most important part of the Era swap ecosystem is the Era Swap Token (EST). EST will be used on the Era Swap platform to buy and sell tokenized time. Before getting any deeper, does Era Swap need a token or even a blockchain? The answer is a resounding YES! Era Swap is a platform for individuals to offer and avail their services in the form of tokenized time. We do not want any mediator and to handle high volume of transactions, the blockchain is essential. Cost saving done by deploying blockchain is significant and cannot be ignored. The smart contract needed to control the volatility of EST needs a blockchain. Okay, but why the token? This is a permissioned public blockchain. We need observers to keep a watch on transactions, we need stakeholders who will resolve disputes emerging from the platform; to incentivize them, the token is absolutely crucial. Great, we need the token but what type of token is this? This is a utility token. The main purpose for creating the token is to be used on the platform for buying and selling tokenized time. We do not promise any value getting attached to this token in the future. Every seller will have to pay $1 for a life time subscription. Out of this, $0.1 worth EST will be permanently burnt, EST worth $0.1 will be go to charity and remaining $0.8 will go to the distribution pool. In Era Swap tokens are pre-mined & are released through a smart contract, at a fixed rate of one block in every three seconds. New Token Release Decreases by 10% per year. These tokens are distributed to all the stakeholders in the ecosystem as per their contribution. All the distributions are paid in the same format: 50% in liquid EST and 50% are locked in TimeAlly and are released on a monthly basis. Token Burn Rule Tokens will be burnt under three circumstances: when a seller subscribes to TimeSwappers platform, when someone chooses to get a certificate through Blocklogy, and when a borrower defaults on a TimeAlly loan. To reduce disruptions, whenever any tokens are getting burnt, it will be followed that in any given month, the number of burnt tokens will never exceed 2% of the circulating supply for that month. In case there is a balance of tokens to be burnt, the balance will be carried forward until the desired number of tokens are burnt. All the unsold tokens from the ITO (Initial Token Offering) will be put into TimeAlly smart contract.
  • 12. TOKEN ECONOMICS 11 Team tokens will be released after 1st Feb 2019 All the rewards mentioned are percentage of newly released tokens. The distribution of tokens is as follows: * * * *
  • 14. TIMESWAPPER: A PLATFORM TO TRADE YOUR TIME ANYTIME, ANYWHERE 13 TimeSwapper platform is probably the most important part of the Era Swap ecosystem. Any person, anywhere in the world can sell and avail services on this platform. These are called TimeSwappers. The services will be sold on per unit time basis in exchange for ESTs (Era Swap Tokens). Every service provider gets to decide how much worth their time is. Rating mechanisms on the platform act as a feedback mechanism for TimeSwappers to alter the rate at which they are selling their time. Unlike existing intermediaries neither the seller nor the buyer of services is getting charged to use the platform. Only charge levied on platform users is that of the blockchain usage. Not only this, all the stakeholders of Era Swap ecosystem will be rewarded for their contribution to grow and maintain the platform. Who can use our platform? Well, almost everyone. Picture this, if you are good at Mathematics and you want to teach in your free time, you can join the platform with $1 worth EST. You can then create your profile, and quote a price for your services and you are set. Students from across the world who want to learn Mathematics will be able to see your profile and can decide whether they want to learn from you. Unlike other platforms, Era Swap lets the two parties communicate with each other. But then, why would they want to use the platform? Well, all the TimeSwappers are rewarded to use the platform through our TimeAlly smart contract. Over and above this, those who aren’t actually
  • 15. TIMESWAPPER: A PLATFORM TO TRADE YOUR TIME ANYTIME, ANYWHERE 14 involved in the transaction have the option to witness the transaction or verify it. Members will be awarded for witnessing as well as verifying the transactions. This way, Era Swap is a completely peer-to-peer platform. For the initial period, there will be an assigned custodian for the smooth functioning of the platform and to ensure no illicit activities are taking place through the platform. While doing this, the custodian will not meddle in any transaction. They will only be in the observing capacity. Over a period of time, curators will be trained to monitor the platform. Once things are streamlined, the custodian will have a very limited role to play and the platform will fulfill its true vision of being completely decentralized. To help the sellers build their profile on the platform and attract attention, Era Swap will allow them to integrate and log-in to their social media accounts such as LinkedIn, Twitter, YouTube, Facebook etc. For instance it will be a lot easier to hire a photographer if the service buyers can see his or her Instagram. The platform is initially built on the ethereum blockchain which later on will be launched completely on Steem with about 10,000 transactions per 3 seconds. Era Swap has built several other applications as a part of the ecosystem to support the platform.
  • 16. ERA SWAP WALLET: Keep ‘em safe when there’s still time Hacks and scams have haunted the cryptocurrency industry for a long time. And we are very serious about the security of our platform users’ tokens. To make the platform better and to offer extended solutions for our users, we are building a wallet that has multi-factor authentication along with biometric authentication for security. The private keys are stored only with the user. The wallet will support multiple digital currencies such as BTC, ETH, and ERC-20 tokens. In- wallet swaps will be enabled for certain select tokens through integration of ComputeEx, our exchange offering. This way we will help our users save on transaction fees they incur when they move their assets to and from exchanges. The wallet will have a best in class UI with all features such as token spending and value graphs, etc. WALLET FEATURES In wallet token swap to save users’ transaction costs Multifactor + Biometric Authentication Automatic buying and selling at price triggers Private keys stored only with the user to ensure maximum security
  • 17. ComputeEx: Why go to many, when one can do it all for you? Every time a user wants to trade cryptocurrencies, they have to move their tokens to the exchange. During the process they are charged transaction fees. ComputeEx is designed as a power exchange to allow in wallet swaps of selected tokens. There are so many cryptocurrency exchanges in the world right now that it is getting cumbersome to keep a tab of all the assets across these exchanges. Picture this, your favorite ICO token is getting on an exchange you aren’t registered on. You are forced to get registered on that exchange. We understand this problem and are trying to resolve it through ComputeEx. Trading bots, deployed using AI, will fetch the best prices from across the exchanges and will allow users to buy or sell tokens on any exchange irrespective of whether they have an account on that exchange. ComputeEx brings all the crypto exchanges at a single point of contact. This is one of the revenue sources for the platform. Users will be charged to execute trades on their behalf and there will be a 50% discount for users paying the fees in EST. Now, the user has to get registered on multiple exchanges ComputeEx provides a single point of contact for multiple exchanges
  • 18. TIMEALLY: A contract to rule them all 17 Volatility: A curse we all are trying to lift Bitcoin or cryptocurrency maximalists have a dream that one day cryptocurrencies such as bitcoin, Litecoin etc. can be money for the entire planet. However, this seems like a distant dream as of now. Most of the investors have started looking at bitcoin as a store of value than a mode of payment. Closer inspection of characteristics of money unveils that one of the most important factors why bitcoin or any other cryptocurrency cannot be money right now is the high volatility in their prices. Though bitcoin’s volatility is decreasing over time, it is still notches higher compared to traditional assets such as gold, silver or currency pairs such as USD-GBP. And it is not acceptable for anything as volatile to be called money. This volatility makes people apprehensive of cryptocurrencies as a form of payment. Era swap is trying to tackle this problem by using Era Swap smart contract called that governs the distribution of EST (Era Swap Token). Time Ally incentivizes EST holders to HODL for longer periods of time. When the token holders opt for TimeAlly, their tokens are locked up for the duration they choose. As these tokens are locked up, there are fewer tokens in the circulating supply that might otherwise have caused more volatility. As the users opting for Time Ally contracts are contributing towards reducing the volatility of EST, they are rewarded in correlation with the duration for which they opt to lock their tokens in the smart contract. This forces users to keep their tokens in the ecosystem, thereby decreases the volatility. The decrease in volatility will encourage Time Swappers to trade services on the platform as the value of their tokens remains intact. Reduced volatility will encourage more and more sellers to join the platform as they do not have to worry about the ‘changing value of their worth’. Another subtle aspect of Time Ally is the fact that on one side it sucks the supply out of the market and on the other, as a by-product of reduced volatility, it boosts the demand. For investors who do not want to get into maximizing their tokens by day-trading, TimeAlly has a wonderful solution. Investors who choose to use TimeAlly will keep increasing their tokens, and with the reduced supply, the worth of EST is expected to go up as well. So, investors who wish to just hold, benefit by an increase in the number of tokens as well as the value. Time Ally is carefully crafted to maximize investors’ worth by controlling supply on one side and increasing demand on the other.
  • 19. TIMEALLY: A contract to rule them all 18 To give the platform a truly distributed structure, TimeAlly is carefully constructed to reward each and every stakeholder, who will extend help in supporting or growing the Era Swap ecosystem. How it will be done* While TimeAlly rewards all the users, 50% of the amount is liquid, i.e. up front EST, and 50% is locked up in the contract. When a user wishes to withdraw tokens from the TimeAlly contract, their tokens are released in two years with 104 equal installments. 50% of the newly released EST would be distributed to users on a timely basis the through TimeAlly smart contract. Of these tokens, 50% are assigned to the work pool. Further, the work pool tokens are divided into curators (10%), time traders (10%), referral bounty for day swappers (25%), and Buzcafe (5%). 20% of the TimeAlly tokens are distributed as power tokens. These tokens are to be given away by community members to other stakeholders in the ecosystem who help in growing and maintaining the ecosystem. Power tokens are valid only for 30 days. If not given away within that time, these tokens are burnt. The rest of the TimeAlly tokens (30%) are distributed to the stakers in correlation with their vesting periods. There might be a chance that members will favor certain other members while distributing the power tokens. However, if this distribution is not in sync with the receiving members’ reputation score on the platform, the legitimacy of the power tokens received could be questioned. This is where curators of the platform will come into play. They can keep a tab of how the power tokens are getting distributed and keep the fraudulent activities in check. TimeAlly is really a unique proposition by Era Swap to increase the demand of its tokens and make the entire ecosystem ‘distributed' in a true sense. Incentives such as power tokens push the platform and the entire ecosystem, in turn, towards decentralization. While most of the ICOs just talk about being distributed, Era Swap has meticulously chalked out a path towards being distributed and decentralized in a true sense. Staking With Power comes a responsibility to distribute TimeAlly incentivizes all the stakeholders to take part in making the ecosystem truly distributed and decentralized
  • 20. TimeAlly: A contract to rule them all 19
  • 21. TimeAlly: A contract to rule them all 20 Apart from solutions mentioned above, TimeAlly has multiple other offerings the growth of the ecosystem in the future TIMEALLY CRYPTO MUTUAL FUND By leveraging powerful AI we will provide users with automated risk profilers, choose EMI, mode of contribution such as EMI (Equal Monthly Installments), quarterly, annually etc. Predictive analytics bots will be deployed for market analysis to pick good investment opportunities. TIMEALLY INSTA DEBIT CARD Era Swap plans to partner with a third party to bring anonymous pre-paid smart debit cards to use crypto funds like conventional money. This card can be used by users in places where only the conventional banking payments are accepted. Users can get these pre-paid cards from various ‘BuzCafe’ retailers empanelled in Era Swap ecosystem. TIMEALLY BUZCAFE TimeAlly will tie-up with various outlets and all of these will be utilized for Era Swap branding. Ratings & service guideline will get 2.5 % of Newly Released Era Swap Token distribution as bonus. TimeAlly BUZCAFE will have IOU based outlets, facilities, websites offering special deal & services to TimeAlly holders. TIMEALLY INSURANCE The policy issued will be based on efficient underwriting norms of smart contract removing middleman and physical processes. AI-based Efficient Risk management, no dilution on mortality. TimeAlly will create provision for users to get their premium adjustment from TimeAlly payouts, TimeAlly Rewards & TimeAlly Power. TIMEALLY DEFLATION FORCE Whoever wants to offer their services on the platform will have to undergo a KYC process costing $1. This is a lifetime charge. With this $1 worth EST will be bought, $0.8 worth is re-distributed to the community, $0.1 worth is permanently burned and $0.1 worth will go to charity. TIMEALLY LOAN A user can take an instantaneous short term (max. 2 months) EST loan up to 50% of staking amount paying 0.5 % per month. To avoid the double spent possibility, TimeAlly’s benefits will stop for the lender amount once TimeAlly’s lending amount is approved on blockchain. TimeSwapper will be equipped with a peer to peer lending escrow smart contracts for users. In case a borrower fails to pay back within 2 months, remaining 50% of their tokens will be burnt as per the token burn rule.
  • 22. BLOCKLOGY: An education initiative for the future 21 Era Swap understands the importance of blockchain; and also believed that blockchain coding will become an important tool to have from a career perspective. To a certain extent, it already is. There is a severe knowledge gap in the blockchain field. To address this, Kmpards, the parent organization of Era Swap, is designing an Edu-tech platform to for students and others for not only to learn about blockchain but be experts at it. This app will have curated courses for students 8th grade onwards. Students will learn right from what blockchain is, all the basics to coding smart contracts. Though the education will be completely free, Era Swap will charge $1 for the certificates. This fee will be waived off for students who cannot afford it. And this will serve as the second source of revenue for Era Swap. Era Swap will have tie-ups with schools across the globe. There will be special incentives for schools that integrate Blocklogy with their curriculum. All the courses will have weekly milestones. The teachers will be specially trained to help students. The vision is to make the student coding-ready by the time they finish 12th grade. This way they will be ready to take on blockchain coding assignments (full stack developers earn up to $200 per hour). This way, students are not only learning about the blockchain but also investing in their future!
  • 23. The Demand and Supply Dynamics 22 The value of any token is a function of demand and supply. Though there cannot be any guarantees about future value of tokens, we have designed our ecosystem so that each and every stakeholder benefits from it. We plan to control the supply disruptions through TimeAlly smart contract and carefully measured token burns. To grow the platform, several ways to create demand have been devised. Utmost care has been taken to keep the volatility in check.
  • 25. 24 PRIVACY POLICY The profile of all the members on the platform shall be explicitly confidential and not disclosed to any other member of the platform unless an express consent is sought by the member. Data will be held in a distributed fashion. This is important to avoid the user data breaches that befall centralized databases. The use of KYC (know your customer) is always a balance between the freedom of anonymous use of cryptocurrencies and the ability to interact with other businesses, banking institutions and all countries. We have made the decision to use KYC on all purchase of tokens for the good and long-term success of the ERA SWAP community. RISKS IN PARTICIPATING IN OUR TOKEN SALE Era Swap is committed to maintaining compliance with laws, regulations and licensing requirements to achieve sustainable growth. Our platform will enforce any applicable rules regarding money transfer, user protection, and data security. We aim to act with the highest standards of integrity, honesty, and accountability. Given the current regulatory environment surrounding cryptocurrency, the buyer must acknowledge and disclaim the risk of participating in an ICO Token Sale. The buyer needs to understand that if any change of regulation occurs, Era Swap will always strive to remain in compliance with the laws, and this could adversely affect the Era Swap Tokens at any time. Era Swap does not guarantee that the Tokens are reliable, error-free, or that any defects in the tokens will be corrected. We will take precautions to ensure the Era Swap Tokens work as intended, but we cannot warranty that the Tokens or delivery mechanism for the tokens are free from viruses or other harmful components. We do not provide you with any software other than the Tokens. The Era Swap Project shall not be liable for any indirect, incidental, special, exemplary or consequential damages, including loss of profits, goodwill or data, in any way whatsoever arising out of the use of the Smart Contract System, or the Era Swap Tokens. Dispute Resolution; Arbitration PLEASE READ THE FOLLOWING SECTION CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE CERTAIN DISPUTES AND CLAIMS WITH US AND LIMIT THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM US. Binding Arbitration: Except for any disputes, claims, suits, actions, causes of action, demands or proceedings (collectively, “Disputes”) in which either Party seeks to bring an individual action in small claims court or seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without limitation, copyrights, trademarks, trade names, logos, trade secrets or patents, both you and us shall (i) waive our respective rights to have Disputes arising from or related to these Terms resolved in a court, and (ii) waive our respective rights to a jury trial. Instead, we will arbitrate Disputes through binding arbitration (which is the referral of a Dispute to one or more persons charged with reviewing the Dispute and making a final and binding determination to resolve it instead of having the Dispute decided by a judge or jury in court). No Class Arbitrations, Class Actions or Representative Actions: Any Dispute arising out of or related to these Terms is personal between you and us, and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual attempt to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals. We hope it would never come to this and will take every effort to be a company worthy of your trust. CONCLUSION We have studied how the token price could evolve considering that user’s reinvesting part of their profits obtained participating on our crowdfunding site in purchasing more Era Swap tokens to increase their investment activity. This strategy will give enormous traction and a big boost to our crowdfunding marketplace site which will heavily promote the use of the Era Swap token, causing its value growth. It also ensures that our company will be successful, self-sustaining and will generate profits from year one. No currency can guarantee absolute stability, but we believe that the Era Swap token is an asset that is designed to increase in value by design.