Today we are announcing that the EcoFi Protocol will become EcoFi DAO, a community managed open source decentralized autonomous organization. Since inception, our intention has always been to turn the EcoFi protocol over to the community in the form of a DAO.

Following the Revest hack, resources for ongoing protocol development have been exhausted. Moving ahead the entire EcoFi staking protocol and associated assets will be publicly available, so that it may be forked and developed in any direction determined by the community.

The efficacy of the EcoFi staking code has been proved in the HYPE marketplace, which served as a proof of concept for the ECO and SPRT marketplace. However, following this announcement, HYPE will be deprecating support for ECO and SPRT tokens.

For holders of ECO tokens we are also in the midst of working with Revest on a solution to restore value to the ECO marketplace.

For current holders of any HYPE NFTs, we are currently working on a solution commensurate to NFTs owned based on art sales. We will provide additional details about the breakdown of this solution in the near future.

Following this announcement we will sunset the team managed EcoFi Telegram channel, so that a community managed equivalent may be established.

During a well documented livestream on Oct 19, 2021, EcoFi team members, under the guidance of the Revest team, locked a total of 7 million ECO tokens from the EcoFi team address into a Revest FNFT. The locked ECO was to be released either after 18 months, or in 1 million token tranches based on the token price, in increments of 50 dollars until all ECO tokens were released.

On March 27th, 2022, at 1:41 AM UTC, Revest Protocol suffered an exploit, resulting in the theft of all 7 million locked ECO tokens. The thief in turn dumped the stolen tokens on the market, resulting in an immediate negative price impact for the ECO token market.

A full post-mortem on the hack published by Revest revealed the specific nature of how it is believed the Revest code was exploited. The hacker created a custom contract that sent multiple calls to the Revest contract, enabling them to generate FNFTs designed to steal the targeted tokens and bypass any established waiting periods.

In the announcement Revest states that although their code was audited by Solidity.Finance, they did not secure any DeFi insurance, and thus are unable to fully financially compensate those who suffered financial losses as a result of the hack.

Although the EcoFi time is currently attempting to work towards a solution, this theft has officially exhausted the company’s capacity to offer liquidity to the ECO token market.

When we founded EcoFi it was always our intention to turn the protocol over to the community. We are exploring what immediate next steps must be taken in order to do so, and will provide an update soon.

You may have seen the smoke, and now we’re bringing the fire by officially revealing our mystery collaborator: RAW Rolling Papers!

Celebrating the use of sustainable organic materials and proliferating efforts to improve the quality of life for others the world around, RAW Rolling Papers and HYP are teaming up to launch the first ever RAW NFTs.

We are offering a whitelist opportunity to community members who stake at least 100 ECO tokens on the EcoFi web portal during the window between February 1, 2022, and the February 12, 2022 deadline. We will take a snapshot of all eligible wallet addresses prior to the launch with an official announcement about launch dates.

Mint and Win!

To kick things off, HYP and RAW will give away 5 boxes of RAW Rolling Papers, each signed by RAW founder Josh Kesselman and the rest of the RAW team. Inside each box is a seed phrase to a wallet loaded with a special prize. The grand prize winner will receive an original signed Keith Haring.

We will release 5 official RAW NFTs with varying degrees of rarity. To be eligible to win a box of RAW Rolling Papers signed by Josh Kesselman and team, collect RAW NFTs in the RAW NFT Marketplace. Increase your chances with each NFT you collect.

Collect all five exclusive RAW NFTS for a chance to take home an original signed Keith Haring!

Once the promotion is complete, winners will be randomly selected to receive their prizes.

Get Ready to Roll With a RAW Mint Pass

RAW NFTs also act as a mint pass, for exciting upcoming drops.

EcoFi and RAW are committed to global conservation efforts. A portion of proceeds from all sales wil go towards RAW Giving, an organization focused on worldwide philanthropy, and Life Ethiopia, a charity that drills wells for impoverished drought affected communities throughout Kenya.

This resignation has now been formally and officially adopted.

As many of you know by now, Kevin has chosen to focus his efforts exclusively on the HYP marketplace.

We wish him all the best in his future endeavors.

Onward and upward,
EcoFi team

Eco Finance Incorporated: Bringing NFTs to People and People to NFTs

Staking ECO tokens is the only way to earn SPRT tokens, and get in on exclusive opportunities in the ECOsystem.

To make sure you don’t miss out you’ll need to get $ECO first, so we’ve put together a step by step guide you can follow to help make things easier.

Setting up MetaMask

Before you get started, make sure you are using Chrome as this browser features the most stable compatibility with the MetaMask plugin.

Then visit http://metamask.io and click the blue “Download” button on the top right side of the page.

On the download page, you’ll need to click the blue button that reads “Install MetaMask for Chrome.”

Once you complete adding the extension, go to chrome://extensions/ and make sure the extension is activated and visible by clicking the switch in the lower right corner of the MetaMask box so it goes from white to blue.

In MetaMask you must follow the steps to create an Ethereum Wallet. If it’s your first time setting up MetaMask or an Ethereum wallet, you will enter a “seed phrase” that will be attached to your public address.

Blockchain based accounts are extremely secure, however if someone else gains access to your seed phrase, your account can be compromised. Safeguard your funds and keep your seed phrase a secret.

Getting ETH

Once you’ve set up your wallet you’re going to need to get ETH to trade it for ECO. With MetaMask you can use WYRE to buy ETH with a Credit/Debit card by simply clicking “Buy” and “continue to WYRE” in the extension’s dropdown menu.

On the WYRE site, enter the amount of ETH desired denominated in $USD. WYRE will automatically adjust for market rates and fees. (Note that your wallet info will auto-fill when following these steps.)

After entering your payment information and submitting your transaction, ETH will be transferred to your MetaMask address.

Trading for ECO

Now that you have ETH, you can trade it for ECO Tokens. Before you do, you’re going to want to add the ECO token to MetaMask. You can do it by clicking the “import tokens” link at the bottom of the extension’s dropdown menu.

Enter the official EcoFi Token Contract Address into the field: 0xc242eb8e4e27eae6a2a728a41201152f19595c83

The rest of the information will auto-fill in the fields below. Click add custom token, and MetaMask will now recognize ECO tokens.

Now you can get ECO from UniSwap, by following this direct link to the ECO token pair:

https://app.uniswap.org/#/swap?outputCurrency=0xc242eb8e4e27eae6a2a728a41201152f19595c83

UniSwap will likely show you an alert to “Import Tokens” so make sure the Token Contract Address matches before you click to confirm and import them.

You may need to connect your wallet by clicking the “Connect Wallet” button at the top right corner. When you do MetaMask might ask you to sign a confirmation, allowing the website to see your wallet, and nothing else. Click accept, and your wallet will interface with the Web3 elements of the UniSwap exchange, and be able to make trades.

Before you can swap ETH for ECO tokens, or any other new token pair, UniSwap will ask you to set permissions on your account to allow trades ECO, which will incur a small network fee. Once that transaction is confirmed, you can input a trade for any amount of ECO tokens your ETH will cover, including gas fees. Confirm the transaction and when it clears your new ECO balance will show up in your Assets tab on the MetaMask extension.

Note that during times of congestion when the network is at peak use, you may notice that gas fees are higher. We recommend using an Ethereum Gas tracker to measure gas costs, and transact accordingly, to mitigate excessive network fees.

Stake ECO

With ECO in your wallet, you’re ready to head over to https://ecofi.io/stake-eco. First you’ll need to set the allowance to the maximum amount you want to stake. As with UniSwap, if it’s the first your wallet interacts with EcoFi’s Web3 interface, you’ll need to pay a small network fee to set this permission. This is why we recommend setting this to the allowance to the max, at 10000000, so you don’t need to worry about allowance limits when you want to stake additional ECO.

With your allowance set, you can now input the amount of ECO you want to stake and click the “Stake ECO” button. Sign the transaction in MetaMask and your ECO is staked!

Whitelist and More

While your ECO is staked not only will you earn SPRT tokens, you’ll also be added to our exclusive whitelist for our upcoming mystery collaboration and more! But only if you stake at least 100 ECO tokens before the special promotion ends on February 12, 2022!

As the founder of EcoFi I sought out to create a platform for value distribution that is both accessible and secure. With $ECO tokens, and the SPRT staking protocol, we have found a measurable degree of success. A large majority of $ECO token holders are currently staking $ECO and earning SPRT on the EcoFi.io web portal.

Today, as the next step in the growth of the vision for the future of our platform, I will be stepping back from EcoFi in order to focus 100 percent of my efforts exclusively on building HYP into the next generation digital asset marketplace tied to physical objects in the crypto space.

HYP has already launched an NFT marketplace tied to physical masterworks and historic objects as a proof of concept. Moving ahead, we will expand the scope of our marketplace to include additional physical objects including real estate, memorabilia, contemporary art, music, access to exclusive events, and much more.

Our forthcoming plans include the red carpet gala opening of our fine art gallery featuring livestream coverage of the exhibitions. I look forward to continuing to champion digital asset use cases and utility in the coming era of Web 3.

-Kevin Monahan

Attention $ECO holders: this is your Alpha Notice! We spent the last month in stealth mode, and now we’re going to be rolling out some big collaborations. Our first mystery collaborator is launching an NFT that will help you stay lit while making a positive change in the world!

Starting now, February 1st, 2022 until February 12, 2022 anyone who stakes at least 100 $ECO tokens on EcoFi.io will have their wallet address added to an exclusive whitelist! Don’t miss out! Stake at least 100 ECO now and make sure to confirm your spot on the whitelist!

While we can’t reveal our mystery collaborator yet, we can say that they’ve been helping people get to a higher plane with all natural ingredients for over 27 years, and proceeds from this NFT launch will fund ongoing water conservation efforts in impacted regions of Ethiopia.

Mint And Win Amazing Prizes

To celebrate our first ambitious launch of the year, we’re holding an amazing giveaway where prizes will be raffled off.

The grand prize winner will take home an original certified and framed painting by Keith Haring from the HYP Art Vault!

Additional details on the contest and prizes will be announced soon so stay tuned.

Remember to stake at least 100 $ECO between February 1, 2022 and the deadline on February 12, 2022 to ensure your spot on the whitelist!

Stake! Mint! Win!

EcoFi is excited to announce that our liquidity partner Alchemist has launched an ECO staking pool on their platform, with a 10x multiplier for 60k SPRT over the next 60 days.

SPRT is the native token driving value throughout all EcoFi NFT marketplaces backed by physical objects. Spend SPRT on physical NFTs and begin building your collection today at Hyp.Eco.

To reap these exclusive rewards, users will need to obtain a Crucible. Find minting instructions here, or visit OpenSea and purchase one off the secondary market.

Next, visit Crucible.Alchemist.wtf, connect your Web3 wallet, go to the Reward Programs section of the site, and click Subscribe under EcoFi.

We will continue to bring exclusive partnerships that drive rewards to the EcoFi community. Get ECO at EcoFi.io today and start earning your rewards now!

We’ve seen a lot of momentum in the marketplace, and in the meantime, EcoFi has been forging partnerships, developing our marketing strategy, and planning one of a kind events and campaigns.

#FreshMintFriday

The gallery of fractionally distributed art is growing, and we’re excited offer a glimpse of what’s coming next to Hyp.eco with an exclusive sneak peak of our upcoming #FreshMintFriday:

Marketplace Momentum

As Ethereum and Bitcoin reach all time highs, attention continues to focus on the growing value of the NFT ecosystem. Transcending the concept of ledgers and cryptographic timestamped verification, NFTs represent a unique synergy between art and technology, the alchemy of which has captivated the world over.

While markets soar to new heights, developers are doubling down on innovation, establishing compelling use cases and building utility into systems that integrate NFT-based mechanics. Keep an eye out for news on how EcoFi is planning to expand the platform as the bright and exciting world of the NFT metaverse begins to take shape!

Token Lockup

As announced EcoFi is the first team ever to lock up tokens with Revest, for a grand total of 8 million ECO locked up for 18 months. 1 million ECO is designated to 18 FNFTs that will release 55.5k ECO tokens back to the market per month over the course of 18 months. EcoFi’s lockup of team tokens reinforces our commitment to the community and the growth of our platform.

Upcoming Events

The EcoFi team will be representing this November at NYC NFT. Come and find us!

This December we’re also participating in the renowned Art Basel Miami Beach exhibition, and hosting a VIP party on an 80 foot yacht. Keep your eyes peeled for details about the event and how you can win an exclusive opportunity to join us!

The future is racing towards us and EcoFi is on the cutting edge! Get your ECO today and start staking at EcoFi.io to earn SPRT and start building your own fractionalized NFT artwork collection today!

EcoFi is pleased to announce that today, October 19, 2021, effective 1 pm PST, we will be locking 7,910,050 ECO tokens from our team allocation into a Revest FNFT token contract for a total of 18 months. Check our LIVE STREAM! In addition EcoFi will lock another 1 million ECO tokens to create 18 FNFTs that will release 55.5k ECO tokens back to the market per month over the course of 18 months.

To accomplish the team staking, we will be moving ECO from our multi-signature hot wallet to a Revest contract address. In alignment with our commitment to transparency we are informing the community of this move ahead of time so that everyone is on the same page.

We look forward to supporting the evolution of digital economies through time locked and market-based milestones facilitated by the Revest team. EcoFi is proud to be the first team to utilize Revest’s technology.

Forging ahead, EcoFi could not be where we are without our community. We will continue to keep you updated on the exciting partnerships and upcoming platform features that EcoFi has to offer.