Canada Cup, an eSports company in Canada, is all set to launch its own cryptocurrency, called the eSports ecosystem token.
Launched 8 years ago, Canada Cup has been conducting eSports tournaments for various fighting games. It has earned a reputation as the premier fighting game tournament company in the country. For instance, Motherboard describes it has “the largest and most prestigious fighting game tournament” in Canada.
The company wants to remove whatever roadblocks that prevent further growth of eGames. That is how it developed the eSports ecosystem token.
eSports ecosystem (ESE) is a digital currency that aims to become the standard cryptocurrency for all eSports. The aim is to empower all gamers by creating a digital eSports currency which will provide a medium to transfer value, compliment the current fiat payout structure, and reward both professional and casual players.
Support for the ecosystem is primarily achieved with funds from a community wallet that represents 17 per cent of the initial supply of ESE tokens that is dedicated to giving back to the eSports ecosystem by adding to prize pools, sponsoring players & teams, donating to charities and gaming scholarships, and fund advertisements to bring awareness and growth to eSports.
The ESE token is intended to solve problems faced by the gaming community by:
Complimenting fiat payouts by adding ESE tokens from the community wallet which would increase the value of the total prize pool to support professional gamers financially and make it easier to transition into a gaming career;
Broadening payout structures to allow more players to reap rewards from tournaments – rewards are no longer limited to the top echelon of players, but can be extended to casual players due to an increased prize pool;
Encouraging tournament organisers to continue hosting events by supporting these events financially with ESE tokens from the community wallet to ensure that these events are sustainable.
To provide additional financial support for gamers and the gaming community, holders of ESE tokens will also passively earn additional ESE tokens through a “staking rewards” system, providing an additional source of income for gamers and organisers to fund their passions. On top of the staking rewards, an ESE Loyalty Nodes programme designed to further reward loyal holders and stabilise the ESE token awards additional bonus percentages on top of the existing passive rewards for holders who continue to hold and accumulate ESE tokens.
Source: cryptovest.com
By Niji Narayan
Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.