The team is happy to announce that we are getting very close to launching the $ease token, it should happen in the next few weeks!
As you will know, the $ease token will replace the $Armor token and will be the last part of the rebranding process.
The team has thought about how many $ease tokens we should mint, which will also determine the swap ratio of $Armor → $ease.
When the $Armor token was launched, in January 2021, a Billion (1,000,000,000) were minted. The most straightforward would therefore be to mint 1 Billion $ease as well and swap 1:1.
However, for a few reasons the team proposes a different token amount and swap ratio: 10 Billion $ease, which would mean a swap ratio of 1 $Armor → 10 $Ease (so the % stay the same for all token holders, i.e. 1% of $Armor tokens → 1% of $ease tokens).
- First of all, as $ease Uninsurance is a giant step forward from the $Armor product suite, the team feels that it’s important that we break away from the same mould, and do not mint the exact same amount of tokens.
- As $ease will have more utility, we expect more demand.
- Crypto investors are prone to Unit Bias.
Unit bias is the fact that lower priced assets seem to be valued higher than an equivalent fraction of a higher priced one. Many investors check the price of one Unit.
For example: many crypto investors flocked to Shiba and Doge “as they were cheaper than BTC and ETH”! See a detailed explanation of Unit Bias in the ease Crypto and DeFi Glossary.
Economically this doesn’t make sense, as $100 worth of $Doge is worth exactly the same as $100 worth of BTC, but still 1168 Doge sounds a lot more than 0.004174518 BTC…
So, that’s why every 1 USD worth of $Armor will have the same value as 1 USD worth of $ease, irrespective of the swap rate. For example, if the proposed 10 billion $ease are minted, every $Armor will get swapped for 10 $ease as the $ease supply will be 10 times larger.
We welcome your input and feedback, so we can finalize the token launch and -swap!