EnreachDAO Updates & Announcements

19th May 2021

Just some quick updates and announcements regarding the developments and ongoings within EnreachDAO.

Removal of the NRCH-RFI Uniswap Pool

The Risk Committee voted today to take down the NRCH-RFI Uniswap pool. The downward pressure on RFI has resulted in the price of NRCH being impacted. For the purpose of supporting positive price action on the NRCH token, the Risk Committee voted in favour of this proposal.

Activation of 2% Buy Side Transactional Tax for NRCH

The Risk Committee also voted on the activation of the 2% tax on purchases of NRCH from the Uniswap pool. From the 2% tax, 1% is redistributed to token holders in proportion to their holdings in the overall supply, whilst the remaining 1% is distributed to liquidity providers. The yield both token holders and liquidity providers will receive will as a result of the additional tax activation be greatly improved.

Cross Chain Bridge Updates

The cross chain mechanism to take NRCH tokens from the Ethereum network to Binance Smart Chain (and reverse) is completed in the most part. We have already started working on an integration to the Polygon scaling solution. We have deployed contracts on Polygon and are awaiting contracts being verified. Polygon will provide an ETH native chain for low cost transactions to avoid the crazy high fees being observed on Uniswap currently.

We are looking forward to the Layer2 release of Uniswap Version 3. In preparation of the anticipated release, we are already researching the technologies expected to be deployed by Uniswap. We hope by this point, that EnreachDAO will be present on 3 blockchain networks, all providing our users with very low transaction costs for interacting with our solutions.

Website Rebrand and V1 Dapp Release

We will soon be releasing our most up to date website with a fresh looking rebrand and updated content. We are also close to finalising the release of the 1st version of the EnreachDAO ecosystem yield aggregation platform. The dapp being released will enable users to farm NRCH-BNB LP tokens in order to yield a proportion of the 1% LP volume tax as well as additional farming rewards. We expect users to find some very interesting APYs once the pools go live.

Upcoming Partnerships and Collaborations

We are currently in discussions with several DeFi related protocols on various blockchain networks.

EnreachDAO is considering offers from multiple DEX platforms incentivising EnreachDAO to commit liquidity to their marketplaces.

Discussions have taken place with oracle providers surrounding price feed and data validation solutions that would enhance the service offering of EnreachDAO ecosystem products.

We are negotiating with money market platforms on various blockchain networks regarding collateralising tokenised assets in order to draw down stable coin liquidity against collateral staked.

Last but not least, EnreachDAO will be using its corporate entity in Switzerland to facilitate the ability to tokenise equities from markets such as the NASDAQ or EuroNext in order to deliver market making experiences for traditional finance risk assets into the DeFi market.

Product Namings

With the rebranding of the EnreachDAO website and the upcoming launch of our version 1 release of the dapp, we have used the opportunity to brand each of the solutions as products under EnreachDAO.

Yaggr is the EnreachDAO protocol for DeFi yield aggregation that will enable users to deploy liquidity, harvest yield, govern strategies and manage risk.

KYCNFT is aptly named as the EnreachDAO solution for verification of KYC and AML checks for NFT holders. The KYCNFT solution will be used as a function to deploy FIAT on/off ramp solutions to NFT holders, as well as a debit card solution for individuals in jurisdictions we can support.

ChainSwitch is the EnreachDAO protocol for move from one blockchain network to another.

We will be launching a “Real World Asset Index” of market making opportunities for Yaggr on future releases. This index will be home to making markets against tokenised equities, real world assets such as receivables as well as farming incentives on real world projects launched through EnreachDAO.

We will soon release the rebranded website and content, which will hopefully add further context to the above.