Ecare was born out of the ashes of a cryptocurrency ecosystem in 2019 created to lift people out of poverty; Novestic. Though Novestic gained 600+ users pre-product release, it needed a specific infrastructure in order for it to maintain a successful ecosystem that did not yet exist; Ecare.
How will Ecare achieve poverty alleviation? Through CPES, an exchange system immune to bear-market volatility.
Unlike other exchange rate systems, ECARE's CPES system isn't based on the market caps of the tokens, but is based solely on wallet balances and tokens.
ECARE tokens (ERC-20 tokens using ECARE) are not to be "bought and sold" but rather, only exchanged or "swapped" via AMMs (Automated Market Makers like Uniswap or an ECARE AMM). Thus, ECARE token balances rise and maintain value based on exchange rates agreed upon further calcifying a self-sustaining token ecosystem absent of consistent investment.
During exchanges, each token exchanged is moved into a burn wallet while the value of the tokens burned are exchanged into the corresponding wallet's balance as follows:
Scenario 1: Wallet 1 exchanges 10 of their Tokens for 25 Tokens from Wallet 2.
Before Exchange
Wallet 1 Wallet 2 Balance = 100,000 USD Balance = 90,000 USD Tokens = 100 Tokens = 90 1 Token = 1,000 USD 1 Token = 1,000 USD After Exchange
Wallet 1 Wallet 2 Balance = 125,000 USD Balance = 100,000 USD Tokens = 90 Tokens = 65 1 Token = 1,388.88 USD 1 Token = 1,538.46 USD
Scenario 2: Wallet 1 exchanges 25.65 of their Tokens for 12.65 Token from Wallet 2.
Before Exchange
Wallet 1 Wallet 2 Balance = 125,000 USD Balance = 100,000 USD Tokens = 90 Tokens = 65 1 Token = 1,388.88 USD 1 Token = 1,538.46 USD After Exchange
Wallet 1 Wallet 2 Balance = 144,461.54 USD Balance = 135,625 USD Tokens = 64.35 Tokens = 52.35 1 Token = 2,244.93 USD 1 Token = 2,590.73 USD
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