Our Values that make
Egemoney different
EgeMoney Investment Yazılım A.Ş is a multifaceted company established in İzmir, Turkey in 2020. Our company specializes in a multifaceted investment approach, seamlessly merging traditional and modern financial landscapes.
We are at the forefront of the Blockchain Technology revolution, offering comprehensive solution in Blockchain based tools including crypto exchange full services white labels, and providing cutting-edge insights and strategies for navigating the dynamic digital asset market. Simultaneously, we excel in real estate NFTs, leveraging blockchain technology to revolutionize property transactions and ownership.
Our expertise extends to crafting innovative investment solutions that bridge the gap between traditional and emerging markets, ensuring our clients have access to diverse range of opportunities. With a commitment to transparency, security, and strategic foresight, we empower our clients to make informed decisions in an ever-evolving financial landscape.
About EgeMoney
In a world where traditional investment avenues are constantly evolving, EgeMoney
emerges as a trailblazer in the realm of real estate sector.
With its successful existing CRYPTO exchange platform, EgeMoney has established itself as a trusted Blockchain-based full-service software developer and reputable player in the financial landscape of Turkey.
Now, the company is set to embark on a groundbreaking venture combining blockchain technology and nonfungible tokens (NFTs) to introduce fractionalized ownership of real estate properties in Turkey.
EgeMoney Investment Yazılım A.S. is a technology firm, a joint-stock, crypto asset tools provider company registered in Turkey. EgeMoney Investment Yazılım A.Ş. offers software development and investment tools, including digital asset exchange services via egemoney.com, white label, investing, trading, depositing, and transferring services of numerous digital assets, and blockchain-based tools. The present whitepaper provides detailed information about the EGEM token created by egemoney.com.
EGEM token is an inextricable element of the blockchain and crypto-asset ecosystem
created by EgeMoney.com and functions as its source of power.
While inflation challenges various sectors, the Turkish real estate market has proven to be an exception. Despite the impact of inflation, the real estate market in Turkey has demonstrated remarkable resilience and consistent growth.
Property values have consistently outpaced inflation, making real estate an attractive option for individuals looking to secure their future in the long term.
Since its inception, EgeMoney has been at the forefront of innovation, redefining how people participate in and engage with digital assets. EgeMoney has garnered a loyal customer base and earned a solid reputation for transparency and efficiency by providing a secure and user-friendly exchange platform.
Building on its achievements in the digital asset sector, EgeMoney aims to transform the landscape of real estate by leveraging blockchain technology and NFTs. This visionary approach opens up new possibilities, allowing individuals to participate in fractionalized ownership of real-world properties in Turkey.
The tokenization process converts real-world assets into digital tokens that can be easily traded on blockchain platforms. With tokenization, real estate assets that were once inaccessible or illiquid can now be divided into fractional shares, providing individuals unprecedented flexibility and opportunities for diversification.
Non-fungible tokens (NFTs) add a unique dimension to tokenized real estate ownership. Each NFT represents a specific fraction of a property, granting token holders exclusive rights regarding that portion. Using NFTs ensures transparency, immutability, and security of property ownership, offering a revolutionary way to participate in the real estate market.
EgeMoney recognizes the immense potential within the Turkish real estate market, and individuals can now access fractionalized ownership, allowing them to participate in the market's success and benefit from the country's thriving property sector.
EgeMoney's venture into tokenized real estate ownership presents a game-changing opportunity for individuals. By merging the worlds of blockchain technology, NFTs, and the Turkish real estate market, EgeMoney is at the forefront of a paradigm shift in how people participate in and engage with real estate assets.
EXECUTIVE SUMMARY
EgeMoney has established itself as a trusted and reliable blockchain-based tools provider platform, including cryptocurrency transactions, offering its esteemed users a seamless and user-friendly experience. With a strong foundation built on cutting-edge technology and a customer-centric approach,
EgeMoney has gained recognition as a leading blockchain-based tools provider platform, including an exchange platform and white label provider in the market. As the company looks towards the future, it is ready to embark on its next groundbreaking venture:
Real estate tokenization
EgeMoney is committed to creating a user-friendly market where users can trade confidently and transparently. EgeMoney strives to deliver a fair and advantageous trading and interaction environment by continuously updating currency rates and offering a competitive market with other industry players.
While EgeMoney‘s existing platform has already set a benchmark for excellence in blockchain-based tools provider and cryptocurrency platform, we are not content with resting on our laurels. We recognize the immense potential of blockchain technology and its application in the real estate sector.
EgeMoney is expanding into tokenized real estate ownership, revolutionizing how individuals can participate in the lucrative real estate market.
This is the time to give our users a fantastic opportunity to engage with and solve real-world problems with blockchain technology through our platform. By leveraging blockchain technology and non-fungible tokens (NFTs), EgeMoney is pioneering a new era in the real estate sector.
Users can now access previously untapped real estate opportunities in Turkey and beyond through fractionalized ownership. This next-level expansion builds upon EgeMoney‘s existing legacy platform, bringing together the stability of real estate and the advantages of blockchain technology.
EGEM token creation idea
EGEM token creation idea emerged once there was no blockchain:
In the year 1992, the founding partner of EgeMoney, Farhad, faced a daunting reality in his pursuit of building a business. Determined to secure the initial capital required, he made a difficult decision to sell his mother’s house. Little did he know that this would be the start of a transformative journey that would shape his vision for the future.
The following year began with a harsh realization. The rampant inflation in the economy meant that the same house Farhad had sold could only be rented now at the same price. Inflation had eroded the value of his hard-earned capital, leaving him disheartened but unwavering in his resolve.
For the next decade, Farhad toiled tirelessly, striving to regain what he had lost. The relentless rise in prices caused by inflation made it challenging for him to keep pace. No matter how hard he worked, he always found himself falling behind, forever chasing the elusive goal of financial stability.
However, after ten long years of perseverance, resilience, and unwavering determination, Farhad experienced a moment that would forever be etched in his memory. He finally repurchased his mother’s house, bringing an indescribable joy to her face.
The satisfaction of this achievement fueled Farhad’s desire to find a solution that would empower others to navigate the perils of rampant inflation.
Motivated by his own struggles, Farhad recognized the pressing need for a mechanism to
protect individuals from devaluing their hard-earned assets.
This realization became the driving force behind the creation of the EgeMoney platform, its revolutionary new real estate tokenization project, and its unique token, EGEM. Farhad’s journey from losing his mother’s house to creating an EGEM token underscores the passion and commitment behind this groundbreaking project. With a deep understanding of the challenges posed by inflation, he and his team have created a platform that addresses these issues and opens up new avenues for security and stability.
EgeMoney team’s expansion into tokenized real estate ownership marks the next level of its mission. By leveraging blockchain technology and NFTs, the platform pioneers a path towards fractionalized property ownership, enabling users to benefit from Turkey’s booming real estate market while hedging against inflation.
High Entry Barriers
As per data from the Turkish Central Bank, the inflation rate soared to a staggering 85.51% in October 2022, and 64.77% in December 2023, a troubling figure by any measure.
The government aims to reduce it, but the battle against inflation is multifaceted.
The persistently high interest rates and the local currency devaluation contribute significantly to this economic predicament. With the economy heavily reliant on bank credit, high interest rates increase production and service costs, exacerbating inflation. Simultaneously, the depreciation of the Turkish lira erodes its purchasing power, further fueling inflation on the demand side.
In the face of this daunting challenge, real estate emerges as a potential hedge against inflation in Turkey.
While the local market constitutes the vast majority, foreigners have increasingly flocked to Turkish shores, with real estate sales to international buyers surging by 81.5% in the first quarter of 2023. Understanding the dynamics of the Turkish real estate market and its resilience amidst inflation becomes crucial for individuals seeking stability and growth.
Various factors in TURKEY REAL ESTATE’S PRICE
VARIOUS FACTORS CONTRIBUTE TO THE PRICING OF REAL ESTATE IN TURKEY. AMONG THE MOST SIGNIFICANT ARE:
The construction cost
The project’s implementation period
The location and view
Payment plans offered
The overall supply and demand dynamics
Foreign investment in the real estate market
Additionally, foreign investment in the real estate market shapes pricing trends, which can be impacted by economic inflation.
As high inflation takes its toll, the purchasing power of Turkish families is significantly diminished. Real estate has long been considered a secure and profitable venture in Turkey and worldwide. Real estate capital tends to appreciate in the long term, making it an attractive option for investors seeking stability and potential benefits.
Price Evolution per m2 in Turkey
Arduous accessing loans
Accessing loans becomes arduous; they come with exorbitant interest rates if granted. In an inflationary environment, borrowers appear to be winners as the value of the repayment diminishes over time.
Meanwhile, lenders suffer as the purchasing power of the loaned amount decreases significantly. In the absence of affordable low-interest, reliable loans, individuals must rely solely on their own resources to combat inflation. However, a significant challenge arises in this self-reliance approach.
Despite working tirelessly and saving diligently, the value of their hard-earned money diminishes rapidly. In a high-inflation economy, even saving 10% of the price of a small apartment over a year could amount to only 5% of its value, for example, making property ownership an elusive dream.
Inflation Rate in 2022
Liquidity Issues
Compared to other types of investments, real estate has exceptionally low liquidity. This is due to the fact that property takes time to sell and hence cannot be turned into cash rapidly.
Even if real estate owners quickly generate interest in their property, it may take some time to consummate a deal. Furthermore, real estate can devalue with time, so if they have held the property for a long time, they may have to sell it for considerably less than you bought.
There are various reasons why someone might wish to swiftly transform their investment property into cash, such as tenants leaving unexpectedly or the necessity for costly maintenance.
Lack of Transparency
Transparency is essential in every company, and the real estate market is no exception. Transparency has always been a problem in the real estate sector, resulting in difficulties such as misinformation, fraud, and distrust among buyers and sellers.
The decision on where to invest in real estate will be influenced by the country’s real estate market’s stability and trustworthiness, as well as the dangers of having a dirty deal exposed and punished. It is not a surprise that the corrupt and criminals choose stable markets with lax anti-money laundering regulations and anonymity.
Easy Access to Real Estate Ownership
Recognizing the need for a robust solution to protect individuals against the ravages of inflation, the EgeMoney team devised the EGEM token and NFT digital property fractional ownership. This groundbreaking token aims to serve as a safeguard, protecting individuals from the erosive effects of inflation.
By embracing tokenization, the EGEM token opens up new possibilities for individuals to participate in fractionalized real estate ownership, enabling them to navigate the challenging landscape of high-inflation economies. By tokenizing real estate assets, EgeMoney enables individuals to own tokens representing fractionalized pieces of property in Turkey.
This groundbreaking approach opens up a world of opportunities, allowing individuals to participate in the real estate market and benefit from its performance, which has consistently outpaced inflation.
The EgeMoney Fractionalized NFT (F-NFT) program revolutionizes the real estate market by offering fractional property ownership through blockchain technology. This chapter highlights the key features and processes of the EgeMoney F-NFT market, providing a comprehensive understanding of its benefits and potential.
In the EgeMoney F-NFT program, each property is represented by a unique NFT collection that can be fractionalized into up to 499 ownership NFTs (based on limits apply by law)
Properties are fractionalized into a predetermined number of ownerships NFTs. Fractionalization allows for broader accessibility, as smaller fractions are more affordable, attracting a larger pool of potential buyers. This democratizes property ownership and enables individuals to participate in smaller amounts.
Transparent Activities
It is critical to have independent property values performed by certified professionals in order to promote transparency. Independent appraisals provide unbiased assessments of a property’s market value by considering criteria such as location, condition, amenities, and similar sales. Buyers and sellers can use these valuations to negotiate reasonable prices and prevent potential conflicts of interest caused by overstated or undervalued property values.
EgeMoney uses renowned agents to conduct due diligence on the property to ensure its legitimacy and market viability. EgeMoney works with reliable agents who have experience in the real estate field, in addition to using official government resources to determine property prices. Confidential attorneys provide the necessary legal agreements to safeguard the interests of all parties involved.
Blockchain technology has gotten a lot of interest because of its potential to improve transparency and security in a variety of industries, including real estate. Property transactions can be recorded in a decentralized and immutable ledger using blockchain, ensuring that the information is transparent, tamper-proof, and available to all relevant parties.
Blockchain technology can promote faster and more secure property transfers, minimize fraud risks, and boost confidence among real estate market participants. The blockchain structure allows users to trade effortlessly in an encrypted zone while lowering the chance of fraud and AML to almost zero levels.
End of Illiquid Assets
While turning the assets into NFTs and cryptocurrencies allows users to trade the digitized fractions of the properties, the tradability of cryptocurrencies and NFTs enables the assets to set their own value based on the interest of people. The liquidity is provided through blockchain solutions, whereas the market of these new digital assets is increasing at a fast pace.
How EGEMONEY works?
Asset Submission and Approval
Owners or authorized agents can submit real estate assets for tokenization. An expert panel performs a review and validation process, which includes verifying legal documents and evaluating the asset’s value.
Asset Ownership Validation
To guarantee the validity of the real estate assets being tokenized, EgeMoney integrates a review process. Each asset submitted for tokenization must have legal documents confirming ownership and legitimacy. These documents are processed and encrypted securely on the blockchain, ensuring transparency and confidentiality.
Asset Tokenization
Upon approval, the real estate asset is tokenized into F-NFTs. These F-NFTs represent
fractions of ownership in the real estate asset and can be traded on the platform.
Dual Conversion
F-NFTs can be converted into EGEM tokens, and vice versa, through a specialized smart contract. Conversion rates are dynamically adjusted based on asset valuation and market demand.
Finding Buyers
EgeMoney employs various channels to connect with potential buyers, including their existing platform and strategic advertisements. Collaborations with building companies, strengthen the marketing efforts and increase exposure for the F-NFT program.
Rental Income Distribution
Upon purchasing the first fraction, the property is immediately made available
for rent. NFT holders receive their respective portions of the rental income. Rental details, including amounts and payment history, are stored in the NFT metadata and can be accessed by all users.
Rental income will be an important financial flow within the EGEM token
ecosystem, and it can be represented in EGEM tokens. Here’s an outline of how it will work:
→ Tenant Payment: The tenant pays their rent in either fiat currency or
cryptocurrency.
→ Conversion: If the payment is made in fiat, it’s converted into cryptocurrency by a financial service provider integrated into the EGEM token platform.
→ Smart Contract: A Rental Income Contract (RIC) activates, which governs the distribution of this income. The contract code is programmed to distribute the rental income to the corresponding EGEM tokens representing asset ownership.
→ Distribution: EGEM token holders automatically receive benefits corresponding to the ratio of the NFTs in their possession, which are directly deposited into their wallets.
Transparent Expenses Calculation
Monthly expenses related to the property, such as utility bills, are calculated, deducted from the rental income, and transparently displayed in the NFT contract. This ensures that shareholders have visibility into the property’s financial aspects and promotes transparency in financial management.
Trading and Liquidity
Users can trade F-NFTs or EGEM tokens on supported exchanges. This provides
increased liquidity options for real estate.
Purchase and Transfer of NFTs
Governance and Upgrades
EGEM token holders may participate in governance decisions through future updates, which could include proposing or voting on platform modifications.
Revenue Channels
1. Commission from Token/NFT Sales
The EGEM platform takes a commission from the initial sale and subsequent trades of both full assets represented as NFTs and fractional assets represented as EGEM tokens. This is designed to cover the operating costs of the platform, including but not limited to technology development, legal compliance, and customer support.
For each NFT sale, EgeMoney charges a 0.1% commission on the total sale value. For each fractional asset sale (EGEM tokens), a 0.1% commission is levied.
2. Commission from Rental Income
Another source of revenue for the EGEM platform comes from the rental income generated by assets tokenized on the platform. A 5% commission is taken from the monthly or yearly rental income. This is automated through the Rental Income Contract (RIC), which deducts the commission of the platform from the rent.
In the future, EGEM will have additional revenue streams, such as:
→ Transaction fees for converting between F-NFTs and EGEM tokens.
→ Premium services like expedited asset validation
→ Partnerships with real estate agencies and other platforms
BENEFITS OF EGEMONEY
Systematic Benefits
Blockchain technology is at the core of EgeMoney‘s innovative tokenized real estate ownership approach. Blockchain, a decentralized and transparent ledger, provides a secure and efficient framework for recording property transactions, validating ownership, and enabling seamless peer-to-peer transactions.
By leveraging blockchain, EgeMoney ensures trust, immutability, and traceability throughout the entire tokenization process.
Smart contracts, powered by blockchain technology, play a pivotal role in EgeMoney‘s tokenized real estate ecosystem. These self-executing contracts automatically enforce the terms and conditions of property ownership, including benefit distribution, property maintenance, and dispute resolution.
Smart contracts eliminate the need for intermediaries, reduce costs, and enhance the efficiency of transactions, providing users with a seamless and transparent experience.
EgeMoney‘s implementation of NFTs revolutionizes the concept of fractionalized ownership. Each NFT represents a specific fraction of a property, providing holders with a unique digital asset that validates their privileges. NFTs ensure the indivisibility and exclusivity of each fractional share, granting holders the ability to trade, transfer, or sell their assets with ease and security.
Tokenized real estate ownership breaks down traditional barriers by allowing individuals to participate in the real estate market with lower entry thresholds. Fractionalized ownership enables individuals to diversify their asset portfolios by acquiring fractional shares of multiple properties.
The F-NFT program presents a unique opportunity for buyers to have owner like benefits, even with a small amount. This project appeals particularly to young individuals seeking to hedge against inflation and economic uncertainties. Buyers can benefit from property rentals and potential price appreciation, thus diversifying their assets and mitigating risks.
Moreover, the blockchain-based infrastructure provides enhanced liquidity, allowing individuals to buy and sell their assets quickly and efficiently.
EgeMoney prioritizes transparency and security in its tokenized real estate ecosystem.
Blockchain technology ensures a tamper-proof and transparent record of property transactions, eliminating the risk of fraud or manipulation. The immutability of blockchain guarantees the authenticity of ownership and gives individuals high confidence and trust in their assets.
Conventional Real Estate Asset
Tokenization and Fractionalization into NFT`s
Distribution to Individuals
Tokenized real estate ownership represents the evolution of the traditional real estate sector. As technology advances and individuals seek more accessible and efficient paths for asset growth, the tokenization of real estate assets is poised to become the new norm.
EgeMoney is at the forefront of this revolution, providing individuals with an innovative platform that combines the stability of real estate with the advantages of blockchain technology.
Empowering Individuals and Promoting Financial Equality: EgeMoney‘s vision extends beyond mere financial gains. The company is committed to empowering individuals by providing them with access to previously inaccessible markets and opportunities.
Tokenized real estate ownership opens doors for individuals from various economic backgrounds to participate in asset growth through fractional ownership. EgeMoney believes in promoting financial equality and ensuring that everyone has a chance to benefit from real estate potential.
EgeMoney understands the importance of continuous innovation and adaptation.
The company remains dedicated to staying ahead of the curve, embracing emerging technologies, and incorporating new features and functionalities to enhance the experience.
EgeMoney aims to lead the industry in delivering cutting-edge solutions that redefine how people participate in the real estate market by fostering a culture of innovation and collaboration.
EgeMoney envisions creating a vibrant community of like-minded individuals passionate about real estate and blockchain technology.
EgeMoney fosters connections through its platform, facilitates knowledge sharing, and encourages collaboration. By bringing together individuals with diverse backgrounds and expertise, EgeMoney cultivates an environment where ideas thrive, partnerships flourish, and collective success is achieved.
As EgeMoney expands its footprint in the tokenized real estate market, it propels
the industry forward with its commitment to innovation, accessibility, and empowerment. The future of real estate sector lies in the fusion of traditional assets with cutting-edge technologies like blockchain and NFTs. EgeMoney stands at the forefront of this transformation, allowing individuals to own fractionalized pieces of real estate in Turkey.
Operational Benefits
PROOF OF VERIFIED ASSETS (PONVA)
The integrity of the EgeMoney ecosystem hinges on the authenticity and legal standing of the real estate assets represented through Fractional NFTs (F-NFTs). To ensure this, the platform will implement rigorous procedures for the verification of assets, complying with local and international laws related to property rights and ownership.
Document Verification Process
→ Initial Screening: Asset owners who wish to tokenize their property must first submit a preliminary application with essential details about the asset.
→ Document Submission: The owner will then be asked to provide legally valid
documents, such as property deeds, land titles, building permits, and so on.
→ Third-Party Verification: These documents will be reviewed by a certified third party, such as a legal firm specializing in real estate, to verify their authenticity.
→ Local Authority Validation: Where applicable, local governmental or municipal
databases may be cross-referenced to confirm the details provided.
Storing Verification Documents
To maintain both transparency and privacy, EgeMoney will take a two-pronged approach:
→ Public Record: Basic details about the verified asset, such as its location, size, and type, will be publicly recorded on the blockchain, along with the cryptographic hash of the official documents.
→ Private Storage: The official documents themselves will be stored in a highly secure, encrypted database with restricted access to ensure compliance with data protection laws.
Asset Integrity and Auditing
→ Ongoing Audits: The platform will conduct periodic audits to ensure that the assets are maintained in good standing and comply with any local regulations or zoning laws.
→ User Reporting: The platform will feature a mechanism allowing users to report any discrepancies or fraudulent activities, which will then be investigated by the EgeMoney compliance team.
Legal Framework
The entire process will be carried out under the supervision of legal advisors to ensure compliance with:
→ Property Laws: To ascertain the rightful ownership and legal status of the asset.
→ Data Protection Laws: To protect the privacy of the asset owners and the tenants, if applicable.
Liability and Transparency
Transparency Reports: The platform will release transparency reports bi-annually to keep the community updated about the verification processes and any issues encountered.
→ Liability: In case of any discrepancies or fraudulent activities, a predefined legal route will be followed to protect the interests of F-NFT holders.
Structural Benefits
No Initial Token Supply:
Unlike traditional digital assets, EGEM tokens don’t have an initial supply. They are minted when a corresponding validated F-NFT is burned, providing a backed value.
Creation of New Entities:
once a property is introduced to the platform, a new NFT is created. For every NFT created, a new entity will be established for trade purposes of the relevant property. Having a new entity causes less bureaucracy.
Review and Validation Mechanism:
A panel of experts will scrutinize each asset, providing an additional layer of security and credibility.
Privacy-Preserving Document Storage:
Asset documentation is encrypted and stored on
the blockchain, accessible only to authorized parties.
Dynamic Pricing:
Real-time asset valuation and dynamic pricing algorithms ensure fair and up-to-date conversion rates between F-NFTs and EGEM tokens.
Introduction
Cryptocurrencies have evolved from digital novelty to trillion-dollar technologies with the ability to destabilize the global financial system in a few years.
Bitcoin and hundreds of other cryptocurrencies are becoming increasingly popular worldwide for purchasing a wide range of products and services, including software, and digital real estate.
Despite some arguments, it is clear that cryptocurrencies are a democratizing force, removing central banks and Wall Street from control of money generation and management.
Regulations vary greatly around the world, with some governments welcoming cryptocurrencies while others prohibiting or restricting their use. To counter the cryptocurrency explosion, 114 countries, including the United States, were considering adopting their own central bank digital currencies as of February 2023.
Cryptocurrencies, particularly Bitcoin, have risen to mainstream popularity and trillion- dollar valuations after being derided as a niche passion of tech fanatics. Bitcoin’s price surpassed $60,000 for the first time in November 2021. By September 2023, it had dropped to $26,000. By mid-2022, an estimated 20% of adults in the United States interviewed by NBC News had invested in, traded in, or used cryptocurrencies.
The people’s charms on cryptocurrencies are variable, but the popularity of cryptocurrencies is partly due to their decentralized nature: they can be transferred relatively rapidly and anonymously, even across borders, without the need for a bank that could block the transaction or levy a fee.
Global Cryptocurrency Market
Based on the stats from CoinGecko, the world’s largest independent crypto data aggregator, In 2022, the worldwide cryptocurrency market worthed a bit more than $2 billion USD. The IMARC Group forecasts the market to reach US$ 3,92 billion by 2028, with a compound annual growth rate (CAGR) of 11.7% from 2022 to 2028.
Global Crypto Market Estimation
The primary drivers of the expansion of the global cryptocurrency industry include an increase in the requirement for operational efficiency and transparency in financial payment systems, an increase in demand for remittances in developing nations, an improvement in data security, and an increase in market value. Furthermore, the cryptocurrency market’s expansion is hampered by high implementation costs and a lack of knowledge about Bitcoin among consumers in underdeveloped countries.
Moreover, a surge in cryptocurrency demand among banks and financial institutions, as well as untapped potential in emerging nations, are likely to present attractive opportunities for market expansion.
Turkish Cryptocurrency Market
The NFT industry is predicted to grow gradually until 2028, with a CAGR of 35.5% between 2022 and 2028. The country’s NFT Spend Value would rise from US$798.8 million in 2022 to US$4,943.6 million by 2028.
TOKEN and SMART CONTRACT STRUCTURE
The economic model of the EGEM token is designed to offer a sustainable and equitable architecture. This section delves into the detailed tokenomics of the platform.
Token Name: EGEM
Blockchain: EVM-based Blockchains.
Token Standard: ERC-20
Initial Supply: Zero
Token Decimals: 12
TOKEN MINTING
Initial Minting: No tokens will exist initially.
Token Generation Event (TGE):Tokens are minted when a corresponding validated Fractional NFT (F-NFT) is burned.
MINTING REQUIREMENT
Asset Verification:F-NFTs are generated only after a successful verification process, consisting of a legal check and a review by an expert panel.
Fractional Ownership:The minting of EGEM tokens is directly proportional to the value and fractions of the underlying real estate asset.
CONVERSION RATES
F-NFT to EGEM toke:The conversion rate is set by the smart contract based on the current valuation of the asset and the fractional ownership.
EGEM token to F-NFT:The reverse conversion also follows a
predetermined rate defined by real-
time asset valuation.
DUAL CONVERSION MECHANISM
Burning & Minting:Dual conversion enables the burning of F-NFTs to mint EGEM tokens and vice versa.
Gas Fees:Transaction costs for conversions will be paid in EGEM tokens or ETH.
UTILITY AND USE-CASES
Liquidity:Facilitates asset liquidity by allowing fractional ownership and easy conversion.
Opportunity:Enables micro- transaction into real estate through the EgeMoney ecosystem.
Governance:Future updates may allow token holders to participate in governance decisions.
FUTURE DEVELOPMENT FUND
Treasury:A portion of transaction fees will go to a treasury fund for future development and rewards.
COMPLIANCE AND REGULATORY ADHERENCE
AML/KYC:All transactions comply with Anti-Money Laundering and Know Your Customer regulations.
VESTING AND LOCKUP
No Vesting for F-NFT conversions:When minted via F-NFTs, tokens are immediately tradable.
Potential Future Vesting:Future updates may introduce vesting for certain functionalities.
FEES AND CHARGES
Transaction Fee:A small percentage is charged for executing conversions and is either burned or redistributed.
SMART CONTRACTS
EGEM token is built on the Ethereum and Polygon blockchains and uses the following:
→ ERC-20 for EGEM Tokens
→ ERC-721 for Real Estate NFTs
FEES AND CHARGES
Custom Smart Contract Categories
1. Asset Validation Contract (AVC)
→ Facilitates the verification and
validation of real estate assets.
→ Manages the encryption
and storage of asset-related documents on the blockchain.
2.Dynamic Conversion Contract
(DCC) Manages the conversion between F-NFT fractions and EGEM tokens
3.Rental Income Contract (RIC)
Rental Income Distribution
4.Tax & Utility Payment Contract
(UPC) Paying Expenses
5. Fees and Charges Contract (FCC)
Manages the transaction fees
incurred during conversions.
MINTABLE EGEM TOKENS
Zero initial value. Minted when a corresponding fractional NFT is burned.
FRACTIONAL REAL ESTATE NFTS (F-NFTS)
→ Properties are tokenized into unique NFTs, which are then fractionalized.
→Backed by legally verified documents.
DUAL CONVERSION
F-NFT to EGEM token: Fractions are burned to mint EGEM tokens.
EGEM token to F-NFT: EGEM tokens are burned to mint new F-NFT fractions.
JUDGMENT & REVIEW MECHANISM
Document Verification: Legal documents of real estate assets are required.
Review Panel: Consisting of experts who will authenticate the documents and asset value.
Smart Contract Execution: On successful review, the conversion process is initiated.
SECURE STORAGE OF OFFICIAL DOCUMENTS
Official documents are securely stored using a decentralized file storage system. These files are encrypted and can only be accessed by parties who hold the corresponding decryption keys. This ensures both the security and accessibility of important legal documents while upholding privacy.
Acquiring EGEM Tokens (No Initial Coin Offering)
Given that EGEM won’t have an Initial Coin Offering and that it will be based on Fractional NFTs (F-NFTs) derived from real and verified assets, here are some ways to acquire the token:
DIRECT MINTING THROUGH F-NFT
The primary way to obtain EGEM tokens would be through the tokenization of verified real estate assets. Owners can submit official documents to verify their assets, upon which F-NFTs are created. These F-NFTs can then be exchanged for EGEM tokens directly on the platform.
While EgeMoney facilitates the acquisition of EGEM tokens through the tokenization of verified real estate assets, it acts solely as an intermediary in this process. The sole responsibility for the accuracy and legitimacy of submitted documents, as well as compliance with the underlying assets, rests entirely with the real estate owners.
DECENTRALIZED EXCHANGES (DEXS)
Since EGEM tokens can be minted through F-NFTs, they can also be traded on decentralized platforms such as EGEDEX, Uniswap, SushiSwap, or any DEX that supports the token standard EGEM.
PEER-TO-PEER (P2P) TRADING
Users can conduct P2P trades to buy or sell EGEM tokens. This could either be facilitated by the EGEM platform or through third-party P2P platforms or even manually among users in a trust-based setting.
STAKING AND EARNING REWARDS
The EGEM token is expected to have a staking mechanism, and then participants could acquire more EGEM tokens as rewards. The rewards could be given to users who actively participate in governance decisions or to those who stake their EGEM tokens for a certain period.
PARTNER PLATFORMS
EGEM could form partnerships with other platforms or marketplaces to facilitate the easier acquisition of EGEM tokens. For instance, EGEM tokens could be rewarded on a different platform, which can then be transferred into the EGEM ecosystem.
TRADE MARKETS
→ EGEM Platform: Since F-NFTs can be converted into EGEM tokens, the primary marketplace is likely to be the EGEM platform itself.
→Decentralized Exchanges: DEXs would act as secondary markets where people could trade EGEM tokens with other cryptocurrencies.
→Peer-to-Peer Markets: These are informal markets and could range from online forums to third-party platforms that facilitate P2P exchange.
By focusing on verified real estate assets as the basis for F-NFTs and, subsequently, EGEM tokens, the platform offers a unique value proposition that combines the stability and value of real assets with the flexibility and liquidity of cryptocurrency markets.
At this point users would be responsible for their transactions outside of the EGEM Platform. EgeMoney does not guarantee the reliability of platforms operated by third parties.
Introduction
Regulatory compliance is a critical aspect of the EGEM token ecosystem, especially given its complex interplay with real-world assets like real estate and financial instruments such as tokens and Fractional NFTs (F-NFTs). The platform aims to comply with regulations, including but not limited to data protection laws, and anti-money laundering (AML) and counter-terrorism financing (CTF) standards.
Data Protection and Privacy
Given the sensitive nature of official real estate documents and user data, the platform will adhere to the relevant data protection laws including the Turkish Personal Data Protection Law.
Encryption: All sensitive data stored on the blockchain will be encrypted.
Data Access: Only authorized personnel will have access to sensitive data, and this access will be logged and monitored.
Anti-Money Laundering (AML) and Counter- Terrorism Financing (CTF)
The platform will adopt rigorous AML and CTF policies, including regular audits and checks. A designated Compliance Officer will be responsible for overseeing these areas and liaising with regulatory bodies as necessary.
If EgeMoney detects any suspicious transaction on the Platform, EgeMoney will investigate and report such suspicious transactions to regulatory activities.
Real Estate Laws
Because the platform involves the fractionalization of real estate assets, it will also need to comply with real estate laws in the jurisdictions where these assets are located. This will involve:
→ Property Verification: Ensuring all listed properties are legally registered and that the
sellers have the legal right to tokenize them.
→ Local Taxes and Fees: Compliance with relevant taxation rules, including but not limited to property taxes, transaction fees, and capital gains tax.
Periodic Reviews and Audits
To ensure ongoing compliance, EGEM will conduct periodic reviews and audits, both internal and external. These will include but not be limited to legal audits, smart contract audits, and financial audits.
Regulatory Advisory Board
An advisory board consisting of legal experts, industry professionals, and other stakeholders will be established to provide ongoing advice and to keep the platform updated with changes in relevant laws and regulations.
Alpha Release
Objective:Initial platform testing and introduction of basic features.
Deliverables:
→ User registration and identity
verification.
→ Basic asset listing for tokenization.
→ Initial deployment of Asset Validation
Contracts (AVC).
Beta Release
Objective:Expand platform functionalities and introduce the Dynamic Conversion Contract (DCC). Integrate the official document verification system into the asset tokenization process.
Deliverables:
→ Advanced document encryption and storage.
→ Beta testing of dual conversion between
F-NFTs and EGEM tokens.
→ Implementation of Fees and Charges
Contract (FCC).
→ Completed development of smart contract support for official documents.
→ Partnerships with public services for verification.
Official Launch
Objective:Full-scale launch with complete
features and security measures.
Deliverables:
→Public release of the trading platform.
→ Enhanced user interface and experience.
→Full integration of AVC, DCC, and FCC.
lic services for verification.
Expansion Phase
Objective:Broaden the platform’s scope and
functionalities.
Deliverables:
→Introduction of lending services.
→Addition of staking and yield farming
features.
→ Implementation of decentralized governance mechanisms.
Regulatory Compliance and Partnerships
Objective:Ensure the platform is compliant with relevant regulatory frameworks and expands through partnerships.
Deliverables:
→Acquisition of necessary licenses and regulatory approvals.
→ Announcement of partnerships with real estate agencies and financial institutions.
e mechanisms.
Continuous Improvement
Objective:Adapt to changing market conditions
and user demands.
Deliverables:
→Regular updates and feature enhancements.
→ Quarterly reviews and community feedback
loops for continuous improvement.
TEAM SECTION
In the success of any venture, a solid and capable team plays a pivotal role. The EGEMONEY project is no exception, with a dedicated and diverse group of individuals who bring their expertise and passion to drive the vision forward. Let’s meet the team’s key members and explore their roles in shaping the project.
FARHAD MOGHADAMSALIMI
Founder, Chief Planning, and Business Head As the founder of EgeMoney, Farhad provides visionary leadership and strategic direction for the project.
With his extensive experience in business planning and a deep understanding of the challenges posed by inflation, Farhad drives EgeMoney’s overall planning and business development efforts. His determination to help people hedge against inflation fuels his commitment to creating a revolutionary solution.
REZA TABATABAEI
Co-founder and Blockchain Advisor Reza bring his expertise in blockchain technology to the EgeMoney team. As a co-founder and blockchain advisor, Reza plays a vital role in ensuring the seamless integration of blockchain into the platform’s infrastructure.
His deep knowledge of blockchain technology and its potential applications guides the team in leveraging the power of decentralized systems to create a secure and transparent ecosystem.
MARZIEH MOGHADAMSALIMI
Co-founder, Business Strategist Marzieh, a co-founder and business strategist , brings a wealth of strategic insight to the EgeMoney project.
Her keen understanding of market dynamics and business trends allows her to develop effective strategies to position EgeMoney in the fractionalized real estate NFT market. Marzieh’s business development expertise and ability to identify growth opportunities contribute to the project’s long-term success.
GOLSHAD TABATABAEI
Co-founder, Branding Advisor Focusing on branding and marketing, Golshad plays a crucial role in shaping the EgeMoney brand. As a cofounder and branding advisor, Golshad brings her creative vision and expertise in building strong brand identities to the team.
Her strategic approach to branding helps EgeMoney stand out in the competitive landscape, ensuring effective communication with the target audience and stakeholders.
MAHIR ÇAM
Financial Advisor Mahir serves as the financial advisor for EgeMoney, providing valuable insights and guidance on financial matters. With a deep understanding of the intricacies of finance and investment, Mahir helps in structuring the financial aspects of the project.
His expertise in financial analysis, risk management, and market trends enables the team to make informed decisions to drive the project’s financial success.
ÖZDE SEÇIL ÖZCAN KAÇAR
Legal Supervisor.
In a project like EgeMoney, legal compliance is of utmost importance. Özde takes on the crucial role of legal supervisor, ensuring that all legal requirements and regulations are met.
With her expertise in legal matters and ability to navigate complex legal landscapes, Özde provides that the project operates within the legal framework, mitigating potential risks and safeguarding the interests of all stakeholders.
BURÇAK ÜNSAL
As theLegal Head of EgeMoney, Burçak Ünsal leads the legal team and oversees all legal operations.
Burçak’s extensive experience in legal matters related to real estate, contracts, and securities ensures that the project maintains compliance and upholds the highest legal standards. Her meticulous approach to legal issues contributes to the overall integrity and transparency of the project.
EMRE ALKAÇ
Media & Marketing Advisor Emre Alkaç brings his expertise in media and marketing to EgeMoney as a media and marketing advisor. With a deep understanding of digital marketing strategies and effective communication techniques, Emre plays a crucial role in shaping the project’s brand image and promoting its value proposition.
He devises innovative marketing campaigns and leverages various media channels to raise awareness about EgeMoney and its fractionalized NFT program. Emre’s creative ideas and strategic approach ensure that the project reaches its target audience and gains traction in the market.
SELAHATTIN CAN GÜLTEKIN
As the Executive Supervisor, Selahattin oversees the overall operations of EgeMoney. With his extensive experience in project management and a keen eye for detail, Selahattin ensures that all aspects of the project are running smoothly.
He provides guidance to different teams, streamlines processes, and ensures effective coordination among team members. Selahattin’s leadership and strong management skills contribute to the project’s efficiency and success.
Marketing and sales …
Working as the Marketing Manager for Egem Coin
The EgeMoney team’s collective expertise, dedication, and passion create a dynamic and cohesive force driving the project’s growth and success. EgeMoney is well-positioned to revolutionize the real estate fractionalized NFT market.
Their collective efforts and expertise ensure that EgeMoney remains at the forefront of innovation and provides an exceptional experience for users, property owners, and stakeholders alike.
The property owner has the authority to determine the initial price and the number of fractions for each property in the F-NFT program. The price of each fraction
is calculated by dividing the total property price by the number of fractions. This approach allows for flexibility in pricing and ensures that buyers have options that suit their budget and trading goals.
Fractional owners have the legal rights to their share of the NFT and can choose to sell it. However, EgeMoney cannot force owners to sell their fractions, as it
would compromise the system’s integrity. In case of any disputes or disagreements, negotiation and the built-in chat system on the platform can help resolve issues among users.
The F-NFT program incorporates a rental system where the property is immediately placed for rent upon purchasing the first fraction. NFT holders receive their proportional share of the rental income each month. The rental amounts and payment history are transparently displayed in the NFT metadata, ensuring transparency and accountability.
Yes, rental payments can be made using the EGEM token, the native cryptocurrency of the EgeMoney platform. Additionally, NFT holders have the flexibility to transfer the rental income directly to their bank accounts or exchange it for other cryptocurrencies like USDT or Bitcoin.
Monthly expenses, including invoices related to the property, are calculated, and deducted from the rental income. These expenses are transparently displayed in the NFT contract, ensuring that NFT holders have visibility into the financial aspects of the property. Expenses are allocated according to legal regulations, ensuring fairness and compliance.
Yes, all properties within the F-NFT program are required to be insured against natural disasters or events, such as earthquakes and fires. EgeMoney emphasizes the importance of guaranteeing properties and reducing the possibility of damage. Consulting attorneys work closely to ensure that all legal processes, including insurance coverage, are met, providing additional security for token holders.
EgeMoney earns revenue through various means. They take a reasonable commission for services such as minting the NFT, providing the platform for buying and selling properties, facilitating rental agreements, and distributing rentals and expenses. Additionally, EgeMoney offers opportunities for construction projects, further contributing to their revenue stream.
EgeMoney has implemented a referral program for real estate dealers and intermediaries. These professionals can refer buyers to the F-NFT program and receive a substantial percentage of all commissions earned, typically around 30%. The referral program incentivizes marketing efforts and fosters collaboration and mutual benefit within the real estate industry.
F-NFTs can be traded independently as digital assets on the EgeMoney platform. Holders of F-NFTs do not become property owners directly and do not gain legal ownership rights on the property. This allows individuals to speculate on the properties, participate in the market, and potentially gain benefits without physical ownership or associated taxes.
Yes, EgeMoney is open to partnerships with construction companies. They offer the possibility of creating exclusive tokens and white-label markets for each construction company, enabling the sale of properties from different construction companies on the EgeMoney platform. This collaboration allows construction companies to leverage the F-NFT program to showcase and sell their properties to a broader audience. Furthermore, EgeMoney can assist construction companies in opportunities for their new building projects, facilitating mutually beneficial partnerships.
Price changes and new NFT holders are clearly reflected in the F-NFT contracts. Property owners have the flexibility to adjust the initial price of the property and can increase or decrease it based on market conditions. Similarly, NFT Holders can set their desired price for their fraction of the NFT. This ensures transparency and visibility for all participants.
The EgeMoney platform incorporates various features to facilitate user communication and dispute resolution. A peer-to-peer (p2p) chat system allows NFT holders to interact and discuss matters related to the property. Additionally, an online conference room system enables NFT holders to hold virtual meetings recorded for future reference. These tools aim to provide a convenient and efficient way for NFT holders to address any issues or concerns without the need for physical presence.
The fractional ownership model offers several benefits to buyers. It allows individuals to participate in the real estate sector with a smaller amount. This model is particularly advantageous for young people looking to hedge against economic uncertainties and inflation. Buyers can benefit from rents and appreciating property values by owning the NFTs that represents fraction of a property. It offers a more accessible and diversified approach to real estate.
The seller determines the number of fractions that can be created for a property, with the maximum limit set at 499. However, it is important to note that the more fractions there are, the more potential buyers the property may attract, as each fraction has a lower price. Sellers can strategically determine the number of fractions to maximize the marketability of their property.
EgeMoney is committed to complying with relevant rules and regulations. They work closely with attorneys who provide the necessary legal services to ensure legal compliance. By adhering to regulatory requirements, EgeMoney aims to establish a trustworthy and secure platform for fractionalized real estate ownership.
Participating in the EgeMoney Fractionalized NFT program offers several benefits. It allows individuals to diversify their assets by involving in the real estate market with a smaller amount. Fractional ownership will enable buyers to benefit from property rents and appreciate property values. The transparent and blockchain-based nature of the program ensures accountability and facilitates secure transactions.
Yes, EgeMoney can assist in selling individual property fractions. Their platform and extensive network facilitate the discovery and connection of buyers and sellers. This service helps fractional owners who may wish to sell their shares, offering liquidity and flexibility within the F-NFT market.
The process of creating an F-NFT for a property on the EgeMoney platform typically takes approximately 4-6 weeks. During this time, the property owner contacts EgeMoney to express their interest in tokenizing their property through the NFT market. EgeMoney conducts due diligence to ensure the property meets the necessary criteria and signs a contract with the property owner. Attorneys assist in providing the required arrangements for legal compliance. Once all the necessary steps are completed, the NFT representing fractionalized property ownership is created.
Yes, there may be ongoing expenses associated with owning a fraction of an F-NFT. To ensure that you are fully informed about all aspects of your transaction, we will state the specific costs that will be borne by the token holders in advance of your purchase on the relevant NFT purchase page. We encourage you to carefully review the token and asset details, including any associated costs, before making your NFT purchase. The EgeMoney platform calculates and deducts these expenses from the property’s rental income. The remaining amount is distributed among the NFT holders based on their NFT ownership percentage, as reflected in the NFT contract. This ensures transparency and fairness in expense management.
EgeMoney strongly emphasizes the security and integrity of transactions within the F-NFT program. The platform leverages blockchain technology to ensure transparent and tamper-proof property ownership records, transactions, and contract changes. Smart contracts are used to automate and enforce the terms and conditions of property ownership, rentals, and expenses. Additionally, EgeMoney works with consultant attorneys to address legal details, implement necessary safeguards, and minimize the possibility of fraud or misconduct.
The EgeMoney platform is open to collaborating with other construction companies and can tailor solutions to meet specific project requirements. This includes creating exclusive tokens and white-label markets for individual construction companies, allowing them to showcase and sell their properties on the platform.
EgeMoney can also assist construction companies in opportunities for their new building projects, providing additional value and opportunities for growth.
This Whitepaper and all other content on our websites aim to provide information on business models and technologies for potential holders of tokens issued by EgeMoney.
They do not constitute a prospectus, financial or investment advice, an offer document, a solicitation for investment, or an offer to sell any product, item, or asset. The digital assets stated in this Whitepaper are not any form of capital market instrument, financial instrument, or investment vehicle, and they should not be expected to provide financial gains or benefits of any kind.
The sale of tokens and other digital assets mentioned in this Whitepaper are not considered security offerings, security swaps, or any kind of investment instrument.
Nothing contained herein constitutes legal, financial, investment, business, or tax advice in any jurisdiction. Before engaging in any activity related to this project, it is essential to consult your legal, financial, tax, or other professional advisor(s). Decisions related to financial investments, trading, or any other actions should not be based solely on the information presented in this Whitepaper. Independent due diligence and consultation with a professional broker or competent financial advisor are highly recommended.
The information presented in this Whitepaper provides an initial idea or a general overview of the project’s future objectives, goals and plans. However, these goals and plans are subject to change due to various factors and circumstances.
This Whitepaper is not legally binding and makes no representations, warranties, or undertakings regarding the accuracy, exactness, or completeness of the information it contains. The content provided herein is for informational purposes only, and EgeMoney offers no guarantees or representations regarding the successful development or implementation of the project, or the accomplishment of any activities mentioned in this Whitepaper.
Real estate ownership is legally recognized only when recorded in central registries, and real estate transactions require formal and written contracts, transfer agreements, and payment of transfer taxes.
Consequently, individuals holding digital assets issued by EgeMoney do not become property owners and do not gain legal ownership rights. These tokens do not grant any legal claim to real estate ownership or associated rights. Token holders cannot exercise rights tied to property ownership. The benefits provided by the tokens are limited to those explicitly outlined in this Whitepaper. EgeMoney reserves the right to modify benefits at any time. The benefits and information presented here cannot be considered as a person’s acquired rights and cannot be claimed indefinitely.
Individuals holding tokens may only obtain specific benefits defined by EgeMoney at its sole discretion. Token holders cannot claim rights beyond the scope of these benefits.
By purchasing, holding, and/or using the digital assets issued by EgeMoney, you acknowledge and agree that you have reviewed this Whitepaper, that you have sufficient knowledge and experience with blockchain-based software or distributed ledger technology, and that you have received independent professional advice regarding this process.
Digital asset prices are independent of individual or group efforts and may fluctuate significantly under various circumstances. Digital asset prices are known to be volatile and can change rapidly.
Demand for the token, and consequently market prices, may fluctuate significantly and quickly due to multiple factors beyond EgeMoney’s control. All digital assets are associated with a high level of risk. Do not buy any assets unless you can afford to lose the entire amount.
All content, data, resources, and services provided in this Whitepaper are offered “as is,” without any warranties of any kind.
EgeMoney shall not be liable for any consequential or indirect damages arising from the use, reference, or reliance on the contents of this Whitepaper. Digital asset holders are solely responsible for all transactions related to their purchase and acknowledge that EgeMoney has no responsibility for any loss, damage, fines, liability, expenses, or costs arising from or in connection with such transactions.
No regulatory authority has reviewed or approved the information contained herein. Such action was not taken under the laws, regulatory requirements or rules of any jurisdiction. The publication, distribution, or dissemination of this Whitepaper does not imply compliance with any applicable laws, regulatory requirements or rules. Please note that the financial information contained in this Whitepaper has not been audited.
The digital assets may not be available to citizens, residents, individuals, and legal entities residing in restricted areas or other regions/countries as determined by EgeMoney, where the ownership, public offering, or use of tokens or other digital assets is prohibited.
EgeMoney may determine the restricted areas at its sole discretion.
All statements contained in this whitepaper, whether in press releases, or in any publicly accessible location, and oral statements made by us that are not statements of historical fact constitute “forward-looking statements.”
These statements relate to expectations or forecasts of future events. All statements regarding EgeMoney‘s financial position, business strategies, plans, prospects, and the long-term prospects of the real estate industry are forward-looking statements. These statements may include statements about current revenue, profitability, and growth, expected revenue, profitability, and growth, future plans, anticipated industry trends, and other matters that are not historical facts but estimations and predictions. These statements are estimations and predictions, and we do not provide any representation or warranty regarding their basis.
These forward-looking statements carry inherent known and unknown risks, uncertainties, and other factors that could result in future results, performance, or achievements differing materially from what is expected, expressed, or implied.
EgeMoney acts solely as an intermediary regarding the transactions. Even though EgeMoney conducts the necessary checks during the tokenization process, it is not responsible for the accuracy, legitimacy, or condition of the submitted official documents or the underlying real estate assets. All responsibility for the accuracy and legitimacy of the submitted documents and the compliance of the underlying assets rests entirely with the real estate owners.
EgeMoney disclaims any warranties or guarantees regarding the assets tokenized on the platform and strongly advises users to conduct their own due diligence before engaging in any transactions. Users should be aware that any transactions or agreements entered into are the sole responsibility of the participating parties.
This Whitepaper may be updated, replaced, or altered at any time at EgeMoney’s sole discretion. EgeMoney is not obligated to provide notice of such changes.
Risk Notices
Digital asset holders undertake the following risks and are solely responsible for them:
EgeMoney does not provide legal, tax, or financial advice. It is strongly recommended to obtain independent legal, tax, or financial advice before making any financial decisions involving the purchase, trading, holding, or use of digital assets.
There are significant risks associated with digital assets, and individuals should understand and evaluate these risks independently to determine if they are appropriate.
EgeMoney does not offer, endorse, or invite individuals to trade digital assets or use its services without considering their personal and financial situation, needs, and goals. It is crucial to consider your financial situation and capacity and use only funds that you can afford to lose before making any financial decision.
Before entering any transaction, it is necessary to ensure that you understand and have independently assessed the suitability and appropriateness of the transaction, as well as the risk of loss associated with your financial objectives, resources, and circumstances. Here are some key risk factors:
- Liquidity Risk: Digital assets may lose value when converted to fiat currency, potentially causing liquidity problems in the market. Market crises can lead to low liquidity, resulting in delays and loss of value in the exchange of digital assets for other assets.
- Market Risk: Digital assets are highly experimental, risky, and volatile, influencing digital asset markets’ prices. High volatility can lead to price and liquidity differences between platforms.
- Financial Risk: Transactions of digital assets may be irreversible and final. The risk of loss in acquiring digital assets can be substantial.
- Systematic Risk: Legal regulations, force majeure events, and technological issues can lead to systematic risks affecting digital asset projects.
- Tax Risks: Digital asset taxation can change due to evolving laws. EgeMoney cannot guarantee that digital assets will not be subject to further taxation, including additional taxes and increased tax rates. You are solely responsible for paying such taxes.
- Reputational Risk: Loss of digital assets, infrastructure and service failures, or reputational losses arising from third-party collaborations can pose risks.
- Unsystematic Risks: The project may involve risks before, during, and after a digital asset’s creation, affecting its operations and end-users. These risks comprise complexities in the technology used for digital asset administration, technical infrastructure problems, cyberattacks, liquidity issues, and legal disputes.
- Internet Risks: These relate to internet-based risks and may include hardware and software failures, internet connectivity issues, malicious software, and unauthorized third-party access. Blockchain networks are vulnerable to denial-of-service attacks, potentially affecting the project.
- Theft Risk: The smart contracts and platforms hosting them may be vulnerable to cyberattacks or hacks, potentially leading to the theft or loss of digital assets.
- Legal Risk: New regulations, interpretations, regulatory practices, or changes in applicable laws can create legal risks.
- Project Failure Risks: Project development may be hindered or canceled due to lack of market interest, funding, commercial success, or competition. We do not guarantee the fulfillment of the objectives outlined in this document.
In addition to these described risks, other unknown or unsummarized risks and uncertainties may also affect the purchase and ownership of digital assets.
