EmpowerCoin (EMPC) Frequently Asked Questions (FAQs)
Welcome to the EmpowerCoin FAQ section. Here, we answer the most common questions about our platform, from how it works to the benefits it offers.
This guide will help you understand the various aspects of EmpowerCoin and how to make the most of it.
General Information
EmpowerCoin is both! We provide micro-grants to small businesses in developing regions through our “Operation Thunder Storm” program and offer powerful wealth-building tools for all users,
enabling them to double their money risk-free through secure lending and borrowing.
EmpowerCoin enhances the blockchain and fintech ecosystem by providing secure, transparent, and innovative financial services.
Our micro-grants and wealth-building tools foster economic growth and financial inclusion.
Grants and Applications
To apply for a micro-grant, visit our website and navigate to the “Operation Thunder Storm” section. Fill out the application form, Upload a video 3 minutes or less describing your business and how the grant will help your business grow.
Applications are reviewed based on their potential community impact and innovation.
Lending and Borrowing
Yes! By lending USDC on our platform, you can earn 100{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} interest. Borrowers use their EMPC tokens as collateral, which are locked in escrow, ensuring your investment is secure.
You get paid back double in a combination of Ethereum, USDC, and EMPC rewards.
Borrowers repay their loans with 100{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} interest. This means if you lend 100 USDC, you will be repaid 200 in total, in a combination of Ethereum, USDC, and EMPC rewards.
The borrower’s EMPC tokens are locked in escrow until the loan is fully repaid. You can also pay off your loan anytime using Ethereum, USDC, or EMPC to retrieve your collateral.
Our system is designed to eliminate risk. Borrowers’ EMPC tokens are locked in escrow as collateral, ensuring that loans are secure.
The fee rewards system cover repayments, providing an additional layer of security for lenders.
To start borrowing, you need to hold EMPC tokens. Use these tokens as collateral to borrow up to 100{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} of their value in USDC.
Your EMPC tokens will be locked in escrow until the loan is repaid.
Currently, you can borrow against EMPC tokens only. These tokens are backed one-to-one by Ethereum to ensure security and stability.
To become a lender, you need to have USDC. Simply lend your USDC on our platform to start earning 100{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} interest on your investment.
Loan terms are standardized on the platform to ensure simplicity and security. Borrowers must pay back 100{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} interest, and the loan duration and terms are pre-set by the platform.
Yes, you can pay off your loan at any time using Ethereum, USDC, or EMPC to retrieve your collateral.
Fees and Redistribution
As a token holder, you benefit from the transaction fee redistribution. Every time someone buys, sells, or transfers EMPC,
a portion of the fee is redistributed to all EMPC holders, allowing you to earn passive income simply by holding your tokens.
Transaction Fee Redistribution is a system where a portion of the fees collected from buying, selling, and transferring EMPC tokens is distributed back to EMPC holders.
This creates a steady stream of passive income for all token holders.
There is a 10{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} fee on all buys and sells of EMPC. For buys, 60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} goes to token holders, 30{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the lifetime referral, and 10{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury.
For sells, 60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} goes to token holders and 40{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury. Additionally, there is a 1{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} transfer fee, with 60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} going to token holders and 40{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury.
Borrowers pay a 5{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} fee in EMPC, and lenders pay a 5{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} fee in USDC. Both fees are redistributed 60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to token holders and 40{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury, benefiting the entire community.
The fees collected and redistributed include:
- Transaction Fees: 10{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} on all buys and sells of EMPC (60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to token holders, 30{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the lifetime referral, 10{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury for buys; 60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to token holders, 40{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury for sells).
- Transfer Fees: 1{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} fee on all EMPC transfers (60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to token holders, 40{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury).
- Lending Fees: 5{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} fee in EMPC paid by borrowers and 5{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} fee in USDC paid by lenders (60{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to token holders, 40{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} to the treasury).
Security and Stability
EmpowerCoin employs advanced security protocols, including smart contract audits, encryption, and multi-factor authentication.
Additionally, borrowers’ EMPC tokens are locked in escrow to secure the loans.
The EMPC tokens used as collateral are backed one-to-one by Ethereum, ensuring stability. If Ethereum’s value changes significantly, the collateral remains secure due to this backing.
The EMPC tokens used as collateral are locked in escrow, which helps stabilize the price and secure the loan.
This mechanism helps maintain the value of the collateral even during market fluctuations.
Locking EMPC tokens in escrow reduces the number of tokens in circulation, which helps maintain the token’s value during market downturns.
Additionally, as more people buy EMPC to use as collateral, it creates buy pressure that can potentially increase the token’s price over time.
While there are no specific limits, the amount you can borrow is dependent on the value of your EMPC tokens used as collateral. You can borrow up to 100{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} of their value.
Referrals and Rewards
Our lifetime referral program allows you to earn 30{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} of the 10{21d37bf7380fcf835132c4be696da38308b5799f36d4f3731de1ebfd5ffb40f9} transaction fee in EMPC whenever someone uses your referral link to buy EMPC.
As your referrals double their money and buy more, your rewards grow exponentially, providing a continuous stream of earnings.
The referral program is incredibly powerful because it grows with your referrals’ investments. For example, if someone uses your link to buy $1,000 worth of EMPC, you earn $30 in EMPC.
When they double their money and buy again at $2,000, you earn $60, and this amount keeps growing as they continue to invest. Over time, this can lead to substantial earnings from each referral.
Tax and Support
Tax implications vary by jurisdiction. It is recommended to consult with a tax professional to understand how earnings from rewards and interest on the platform may affect your taxes.
Once a loan has been funded and the borrower has received the USDC, the loan terms cannot be altered, and the borrower must repay the loan according to the agreed terms.
EmpowerCoin offers comprehensive support through our website, including FAQs, tutorials, and a dedicated support team. You can also join our community on Discord for real-time assistance.