TimeAlly is a set of smart contract designed with the primary goal of reducing the volatility of ES (Era Swap Token) by controlling the supply of the tokens in the public.
By limiting the volatility of the Era Swap token, TimeAlly contributes to increase the token demand and usage. In order to understand that better, we must first know how TimeAlly smart contract works.
TimeAlly – How it works
TimeAlly is a decentralized app (DApp) that controls the distribution of Newly Released Tokens (NRT), rewards, etc. within the Era Swap Ecosystem (ESE). It also operates as a Time Vault, where users can vest their ES for a fixed time-period and earn interest as per the predefined rules.
TimeAlly is a major component of ESE, as it controls the demand and supply dynamics of the ES.
To control the supply of ES within the ecosystem, there are predefined rules according to which TimeAlly governs the release of new tokens (NRT), including reward tokens, per month. Besides that, it also keeps the supply in check by regularly burning the unused tokens as per the rules.
To increase the demand of ES and further limit the supply, TimeAlly also rewards token holders who choose to vest (lock) their tokens in the smart contract for a certain period. The idea is that the more people lock their tokens in the contract, the less will be the number of tokens in circulation. The reduced supply will create a shortage of ES in the market, thus increasing the demand and therefore controlling the volatility.
In short, by vesting their tokens in TimeAlly, community members help reduce the volatility of ES.
How does that help Time Swappers?
Now, you must be wondering how reducing the volatility of ES through TimeAlly vesting helps the Time Swappers platform or its users.
Well, to understand that we must first know the problem.
Do you know why people are reluctant to trade in digital assets or why the real-world applications of these virtual tokens are so limited? This is because of the high volatility of these tokens. Volatility is an indication of the value fluctuation rate of a commodity or currency. The higher the volatility, the more unstable will be the token value. So, it is important that the volatility of a token is kept in control in order to keep the value stable. This is exactly what TimeAlly does for the Time Swappers platform. Here’s how.
The users, who vest their tokens in the TimeAlly smart contract, help reduce the volatility of ES, thereby keeping the token value stable for a longer period. The longer the ES value remains stable, the better it can be used as a means of exchange. This will encourage users to trade services on the Time Swappers platform using ES for exchange of services, as they know that the price/value of their token will remain intact.
Time Swappers is a peer-to-peer marketplace where users can exchange goods and services using ES forexchange of service. This is why TimeAlly contract was created to control the volatility of ES and keep the price intact in the long term.
So, what are you waiting for. Vest now in Timeally DApp. Visit: https://www.timeally.io/ now.
