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How will coins work within empowr

by Brian C Woosley on January 29, 2018Like on empowr

Hello everyone!

As you know, March 2018 is when the empowr Coin will be live on the blockchain.

March is only a few weeks away, and empowr engineering is working fast and furiously on completing our move to the empowr Coin.

Tomorrow, they will be launching the next items on the list.

As a reminder, going forward there will be two (2) things you can earn: empowr Coins and pre-coins.

· Pre-coins are what you earn from posting (blogs, status updates, videos and photos), and from success coaching.

· Coins are what you’ll earn from all marketplace sales

· The mission wheel will convert pre-Coins to Coins

· For coaches, 30% of their coaching pre-Coins are converted to Coins

Go here for full details on how Coins will work

Beginning tomorrow, you’ll start earning Coins from ALL your marketplace sales

You keep 85% of the final price that the buyer pays.

So, if you want to receive, say, $10 for something, you price it at $11.77 for the buyer.

What will you be able to do with your Coins?

When the Coin is officially live on the blockchain in March, you’ll be able to:

· Use Coins to buy anything for sale in empowr – including everything in the marketplace, mission roles, advertising – everything – even if your Coins are not fully matured

o Starting tomorrow you’ll be able to shop with your Coins in the marketplace

· Take your fully matured Coins outside of empowr (to use as you wish, such as to exchange them with other currencies)

· Maturation can be reduced to as little as 0-days. Details

Everything will continue to be shown in dollars ($) until we know the final price of Coins (when the Coin auction ends).

How will your balance be converted to Coins?

When the Coin auction ends, there will be a one-time event where your balance is converted to Coin based on the final price of the Coin.

For example, if the Coin gets valued at $1 at the end of the auction, you will receive 1 Coin for every $1 in balance that you have.

Once the Coin is on the blockchain, the price of the Coin will be based on the real-time market value of the Coin.

As a thank you for your dedication and support during this transition, regardless of how you earned your Coins, you will receive 50% extra Coins when your balance is converted to empowr Coins. That means, for every $1 in Coins you have, you’ll receive an extra $0.50 in Coins.