EGEM April Update

6 min readApr 11, 2022

2022 has been an interesting year so far in the crypto space and EGEM is no exception. Read on to find out what has been going on in EGEM since our last update.

Community

We welcome the many new members to our community this quarter with members on discord and telegram growing by 8.5%. This growth can be attributed to the ongoing efforts the community members advertising EGEM on socials such as Twitter, Medium, Telegram and Reddit and the marketing team. We are extremely appreciative of the members of our community and we are excited to see so many new names looking to participate in EGEM as well as continued growth in the future.

End of an Era

ERAs are the term that we use to define the varying inflationary periods of EGEM monetary policy. EGEM started a new ERA as of block 10,000,000 (10th March) EGEM moved into distribution ERA 4 of 6. This means that rewards are now halved once again for Miners and Quarrynode Holders. ERA 4 is due to end at block 12,500,000.

2.5 million wallets and 10 million Blocks over 4 years

EGEM Governance DAO

Starting in March the community has been spearheading the EGEM Governance DAO to further the goal of making EGEM a truly decentralize entity and to facilitate decisions and fund ventures within the EGEM ecosystem. As our community continues to grow the need for DAO governance becomes more critical. More information on how to participate can be found in our discord

EGEM Bridge

The EGEM team have created a bridge supporting cross-chain functionality with Binance, BCH and Avalanche smart chains. You can now wrap your EGEM and migrate it across to other chain for payments or to create liquidity on non-EGEM De-Fi protocols

New protocols join EGEM

Since our last update we have seen a fresh influx of projects using EGEM as their L1 chain. Most recent to join EGEM has been:

Zebrocoin (ZERBO) a multi-chain smart contract for peer-to-peer payments focused in e-commerce.

Datber Capital (BEIR) a DAO hedge fund protocol on EGEM and BCH

Tosa Inu (TOSA) a community meme coin controlled by the EGEM community

NFT Projects and Marketplaces

Since our last update several new NFT projects have launched on our platform:

Cute Owls — An original NFT collection released exclusively on EGEM in late December, Cute Owls are available for minting on their website where you can also purchase EIP-2981 beneficiary rights to each of the OWLs available. The community is looking forward to more original art from this project.

GemPunks — A variation of cryptopunks, Gempunks were available for minting in early 2022. As of today they are sold out, however the Gempunk website comes complete with a buy-it-now marketplace and there are currently hundreds of punks for sale with a floor price of just 350 EGEM.

Bidify — An NFT marketplace where users can buy and sell NFTs for sale or auction. Bidify has an intuitive interface and integrates seamlessly with metamask to authorize transactions. Bidify are working to integrate a 3-click minting process so users can mint their own NFTs which can then be either sold on Bidify or kept in the user’s wallet.

DeFi on EGEM

The Rubyswap team continue to develop their platform to become a top-tier decentralized exchange and are quickly evolving into a hub for all things EGEM. Their website, complete with a De-Fi video tutorial series, also offers access to their De-Fi protocol with Liquidity pools, staking pools and farms. Most recently Rubyswap has integrated a UI for Bidify, allowing EGEM users to bid or buy NFTs directly from the Rubyswap website using the bidify protocol. The team have also expressed interest in building a UI for the EGEM bridge on their website. Transaction volume on Rubyswap now exceeds the transaction volume on all centralized exchanges that trade EGEM.

Read the 6th RubySwap Monthly update

Giveaways

The EGEM marketing team held multiple giveways of NFTs that were generously donated by the community. In March alone over 8000 EGEM worth of NFTs were given away in various giveaways throughout the month and more, larger giveaways are planned over the coming year.

Will there be more NFT giveaways in the future? (Yes)

Sapphire

The long-awaited side-chain to EGEM, Sapphire (SFRX) continues to be developed and significant progress has been made. Sapphire is a completely custom-built blockchain, completely unique from any other blockchain, using cryptangle technology to obfuscate private keys and allow cryptocurrencies such as Bitcoin, Ethereum, Monero and other supported coins and their tokens to be deposited, transferred and withdrawn from the sapphire chain in complete privacy while bypassing the native chain block time, instead using the Sapphire chain’s blocktime of 6 seconds. There are multiple proof of concept videos on our official YouTube channel showing this in realtime on testnet.

Lead developer of the sapphire project Osoese, most recently gave an update in discord last week where he states that SFRX should be released before the end of 2022. In the meantime the team is diligently utilizing their time stressing the chain on testnet. You can keep fully up to date with Sapphire updates in our discord

Member of the Month

Going forward every month we will be introducing a MotM where we recognize an EGEM community member who has gone above and beyond for the community. This month’s award comes with a prize of 100 EGEM and 100 Ruby. 10,000 ZEBRO was also donate to the prize at the last minute by the ZEBRO development team. Out of 5 nominations the winner was chosen by the community in a vote over 48 hours. This month’s winner was Favour. Favour was nominated by a member of the the community due to his outstanding positive attitude that has never waivered since the beginning of EGEM. By vote, the majority of the community agreed that he is most deserving of our first MotM award.

QR Code generator

You can now generate your own custom EGEM-branded QR code by entering your wallet address at https://cwaqrgen.com/ethergem to place on websites or other media, enabling you receive instant payments to your wallet.

It looks stylish too!

This is our giveaways wallet — feel free to donate to our giveaway fund!

Going forward:

The EGEM development team continues to develop EGEM and SFRX at a steady pace. We welcome dApp developers to build on our blockchain as the costs of complicated smart contract transactions remain in the fractions of pennies (Average $0.00000232). Experienced developers looking to publish their dApps can do so at will while budding developers are welcome to seek out the EGEM community for assistance on our discord and telegrams.