During this new bullrun we have seen the emergence of high-quality projects almost on a daily basis. The latest arrival is perhaps one of the biggest projects on the Ethereum network as it brings an absolute novelty to this blockchain (and in the future to other chains): notifications! So far we had to follow a project on various social media like Twitter and Telegram to keep up with the latest news, but from today this will change. How? With the technology offered by the Ethereum Push Notification Service, shortened to EPNS. This formidable project has already been active for about a year and is supported by several large crypto companies. We will now explain its use cases, who its investors are and why you should buy their governance token, called PUSH.
What is EPNS
EPNS is simply a decentralized protocol capable of bringing notifications to the blockchain. This new technology allows all dApps and smart contracts to send notifications to their users, making the crypto experience even more accessible to those who are not experts in the field. Imagine, for example, holding a given token and not following it on various social media. This project one day discovers that it has a bug and announces it on social channels but you, who aren’t following them, miss this warning. What would happen to your portfolio? With EPNS, the project will be able to send a push notification alerting you of the bug and advising you what to do to keep your assets safe.
The system can be used in many other ways. It could be used to notify you when you use limit orders (via matcha, 1inch or other DEX aggregators). It could also notify you when one of your ENS domains is about to expire. And so on. In short, the use cases can be numerous, so the project is destined to become one of the big names and we will surely see it soon in the top 100 or top 200 of CoinGecko and CoinMarketCap. The names behind the project are really big and we will now list some of them.
The EPNS ecosystem
EPNS is such an interesting project that it has even earned a mention on the official blog of the Ethereum Foundation. Investors and advisors include A-list names such as Binance Labs, The LAO, Bitscale Capital, True Ventures, BR Capital and so on. Individuals include Mariano Conti, former member of MakerDAO, Sandeep Nailwal (co-founder of Matic now Polygon), DeFi Dad (perhaps the world’s best-known person in the DeFi niche), Sassal0X (founder of ETHHUB and The Daily Gwei), Ravindra Kumar (founder of the Frontier wallet) etc.
The project has also received grants from AAVE, Matic, ETH Global, Gitcoin, IDEO. In short, it has all the credentials to be listed on all the most authoritative centralized exchanges. The project is also an official partner of Unstoppable Domains, Uniswap and Pool Together. The team is public so there will never be any trust issues.
The PUSH token
EPNS has announced its own governance token called PUSH. The token economy foresees a maximum supply of 100 million tokens, but the release of tokens is quite slow (so there will not be much inflation at first). Here is the official distribution:
- 53% tokens reserved for the community
- 3% tokens for strategic investors
- 2.58% of tokens for public listing
- 1.55% airdrop tokens to those who used the platform before March 20, 2021
- 5.51% tokens for those who will provide Liquidity or place tokens in Staking
- 20.5% tokens for investors but with tokens locked in for 3 months and then gradually released until the 21st month.
- 16% team tokens locked for 9 months (12 for founders) with gradual release up to 4 years!
- 3.5% advisor tokens locked for 6-9 months with gradual release up to 36 months in total
- 7% tokens for the foundation, locked for 6 months with gradual release up to 48 months.
The token was listed on WazirX just today but is also freely tradable on Uniswap. The price at the IDO stage was only 0.12 cents, while now it is over $6 (with a fully diluted market cap of about $600 million). I’m sure we’ll be hearing a lot about PUSH and the EPNS project!