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EMER (EMER)

Emer - utility token

signed by EMCODEX by Tomasz Andrzej Tokarski, allowing to exchange of 1 token for 1 ct.  (carat) 

of emerald.

OUR PRICE - 200 USDT/1ct.

50% of the price of emeralds resulting from market valuation

Operator- EMCODEX LLC, Pristina, Kosovo

Company number: 811882407

Link to business register Website: https://emcodex.io/

 

Issuer - EMCODEX LLC, Pristina, Kosovo

 

Manufacturer - CONSTANTINE GROUP LTD, 20-22 Wenlock Road, N1 7GU London, England

Company number: 14011675 (The Registrar of Companies for England and Wales)

 

Tokenized product - Emeralds

Token name - EMER

 

EMER Token Detail - tronscan.org

 

Token price - 200 USD - 50% of the price of emeralds resulting from market valuation

 

Exchange parity - 1 token = 1 ct emerald (0.2 g)

 

Form of delivery - emeralds

 

Delivery time - up to 3 months from the token holder's request for exchange

What is EMCODEX?

EMCODEX stands for: Emerging Commodity Decentralized Exchange. The so called commodity market is nothing more than a market where theoretically goods should be traded, however from the point of view of a potential participant in this market (producer) it is no longer a market where the real exchange of goods takes place, but it is primarily a market controlled by speculators such as banks, financial institutions or various types of funds. The aim of this project is to remove the current barriers to direct entry into the commodity market by producers of various types of products that currently exist in the commodity market or face barriers to entry, bypassing the entire chain of intermediaries that force producers to cut margins. That's why we set up EMCODEX, which is an intermediary between direct producers and buyers of their products. Producers who want to overcome barriers to entry or expand their existing markets, and above all, producers who want to be part of the digital world but don't have the knowledge to do so.

How does EMCODEX work?

EMCODEX is an issuer of various types of utility tokens exchangeable for commodities. Each issue is related to a different commodity and is carried out in full cooperation with the producer of this commodity, where all conditions of the issue are set. The funds raised from the issue are transferred to the producer, who undertakes to deliver his commodity in exchange for tokens whenever requested by token holders.

What is EMER?

EMER is a utility token exchangeable for precious stones - emeralds. The purchaser of the token can freely dispose of it, i.e. keep it in their wallet or sell it, but can also request its exchange for emeralds at any time. The exchange of tokens for emeralds is based on a forward contract between the parties (the Token Holder and the Producer). Physical delivery of emeralds will take place within the period specified in the agreement, no longer than 3 months. The exchange parity is predetermined and equals 1 ct (0.2 g) of emeralds per 1 token. This means that the final purchase price of emeralds is determined at the moment of purchasing the token, and not at the market price on the delivery date. 

A forward transaction is a forward transaction and by its nature it follows that the parties to the transaction share the risk of an increase or decrease in the price of emeralds from the date of the agreement to the date of delivery. It should be borne in mind that the high discount for the purchase price of the token in relation to the current market price of emeralds gives a large margin of safety with respect to fluctuations in the quotations of these precious stones.

Emeralds will be delivered as uncut stones of varying weights. 

The EMER token was built on the TRON Blockchain decentralized technology platform based on the TRC-20 technical standard, which is used to create smart contracts and implement tokens.

The purchaser of EMER tokens should have a TRX address in the TRON network, created through one of the available cryptocurrency wallets that support this network such as tronlink.org. Purchased EMER tokens will be sent to the TRX address and will be visible as additional resources, but remember that after creating a TRX address, you must first activate it by funding your account with several TRX tokens (even 0.1 TRX is enough), which will only allow you to send EMER tokens to this address.

The photos below show the stones that will be used to settle EMER tokens.

 

Why EMER?

EMER is a utility token and therefore a digital tool related to the cryptocurrency market. The digital currency market is attracting more and more private investors, but also institutional investors who see it as the currency of the future. Some proponents like the fact that the currency takes away the ability of central banks to manage the money supply, as over time banks tend to reduce the value of money through inflation. Cryptocurrency runs on a technology called Blockchain, which is available to anyone, creating a more reliable and efficient way to store information without being controlled by a centralized authority. This means that all transactions are decentralized, without the involvement of any financial institutions such as banks or the government. Only the principal and the payee are responsible for the transaction, and information about the transaction is made available in real time and updated only when both parties to the transaction come to an agreement.

 

What are the benefits to you of acquiring EMER?

The issuance of EMER tokens benefits both its buyers and the emerald producer. 

By purchasing an EMER token you acquire the right to exchange it for emeralds at a rate of 1 token - 1 ct (carat) of emeralds. So by buying a token, you are indirectly buying emeralds. What is the advantage of purchasing an EMER token rather than purchasing emeralds directly from one of the many suppliers? Well, the price. The price of the token is set at the average price resulting from the valuation of emeralds offered by the producer made by an expert, but discounted by about 50%! 

The producer of emeralds also benefits, as he receives the funds from the sale of tokens immediately, and commits to deliver the goods on the date specified in the forward contract, but no longer than 3 months. This allows the producer to plan its production in peace and finance it with the funds it has already accumulated. 

In this way, the main idea of EMCODEX is realized - to support manufacturers in entering the market.

 

What is the price of the EMER token?

The EMER token price was set at the market price of emeralds, as determined by an expert gemologist's valuation, discounted by 50%, or $200 per token.

 

Why is our price possible?

Attractive conditions for the acquisition of EMER tokens, and thus for the acquisition of emeralds, result from the fact that emerald supplier - CONSTANTYNE GROUP Ltd cooperates directly with emerald mines, thus eliminating the entire chain of intermediaries, which is in line with the idea of EMCODEX operation. From the producer's perspective the actual cost of mineral extraction is important and on this basis he can set the price at the level which is satisfactory for him. 

 

How we determined the token price - valuation of tokenized minerals

The tokenized minerals were valued in April 2022 by GIA (Gemological Institute of America) certified expert gemmologist Frederico Diehl Travassos Barone. Details of the valuation can be found here (valuation 1, valuation 2).

The valued minerals have been divided into two groups based on the basic criteria for evaluating emeralds, such as color, purity and weight. The valuation was then carried out on the basis of detailed international price tables taking into account all evaluation criteria. The total estimated weight of emeralds recovered from the rock is 727 000 ct, and their valuation amounts to over 290 million USD. Based on the above valuation, an average price of 1 ct was calculated which was approximately US$400/ct. After applying a 50% discount, the final token price determined by the producer was USD 200/EMER.

A synthetic summary of the valuation is provided below.

ff82f23e-86a7-4a82-ac2b-07f9dbadc63f
c9a7d523-b355-487b-b14b-5554d7645bc8
625e00fb-ea5a-4770-8d2c-34ab52f7d113
a910dbd4-f9da-4282-a1f8-b206863ec194
0a66419a-a6a9-4f7b-b069-994961675df2
04e03236-e0ad-4b15-a647-4f8c70c73d37
489ad136-4efe-43d6-9040-13944911867b
d9efe0d4-8b69-4632-8a57-9231ff2749da
60ebd032-e27d-49ef-8982-385d98f2e0ff
8faf0fe4-7b09-41c0-a4c7-4ede859c7bd7
55d65315-97d3-4a37-a494-77949745dd9d
5b98e8b5-2d38-4b72-b0b6-c9572d0f05a5
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How do I exchange my EMER for merchandise?

Mining emeralds is a complicated and time-consuming process, and the quantities obtained are small. In order to reduce the price of EMER tokens as much as possible, the method of exchanging EMER to emeralds by entering into forward transactions was adopted. 

A futures contract is an agreement to enter into a transaction at a future date, the terms of which are agreed upon in advance. Futures contracts are entered into between two parties without the need for the intermediation of another organization, such as an exchange or clearing house, and thus meet the basic premise for which we introduced EMER.

The absence of an intermediary makes the forward contract an over-the-counter instrument that can be adjusted so that both parties agreeing to the transaction are satisfied with the terms. Forward contracts are most often used to trade commodities, but they are also a popular mechanism for currency exchange.

In a futures contract, the party that agrees to buy the asset takes a long position, hoping that by the settlement date the market value of the asset will rise, and the party that agrees to sell the asset takes a short position, hoping that the market value of the asset will fall. 

The entire process of handling the exchange of tokens for emeralds will be handled by EMCODEX and will be as follows:

  1. The token holder fills out a special form on the EMCODEX website, where he provides all the necessary information to prepare a forward contract.

    1. personal information

    2. delivery address

    3. number of tokens to exchange.

  2. EMCODEX communicates to the manufacturer the desire to exchange tokens for emeralds, and most importantly, how many stones to prepare..

  3. The manufacturer sends EMCODEX feedback on what the delivery date will be.

  4. EMCODEX prepares the contract based on the data from the form and information obtained from the producer and makes it available to the contracting parties (token holder and producer) for signing in the DocuSign system.

  5. After both parties sign the contract, each party receives its own copy.

  6. Before the maturity date of a forward contract the manufacturer informs EMCODEX that the goods are ready for shipment. If the goods are ready earlier, the information will be provided earlier.

  7. After receiving information from the manufacturer that the goods are ready for shipment, we call the holder of the tokens to send the tokens to be exchanged to our wallet in accordance with the contract.

  8. Once we receive the tokens from the token holder, we inform the manufacturer that the goods can be shipped.

  9. The manufacturer informs EMCODEX that the goods have been shipped and provides us with copies of the shipping documents. A receipt (invoice) issued to the buyer of the emeralds is attached to the shipment by the manufacturer.

  10. EMCODEX confirms shipment of the emeralds to the buyer by sending copies of the shipping documents.

 

Why did we choose TRON Ecosystem?

First of all, because of the transaction costs. In the case of a TRC20 transfer the commission is less than a cent, while the cost of ERC20 transfers fluctuates strongly and oscillates from a dozen to even several dozen dollars per transaction. 

 

Why did we choose USDT as the settlement currency?

Tether is the largest stablecoin pegged to the dollar. This cryptocurrency runs on various blockchains such as Ethereum, TRON and Solana. USDT settlements are in high demand because they are tied to a common measure of value - the US dollar. The popularity of this cryptocurrency has grown significantly in recent years and currently Tether is ranked 3rd in the world in terms of capitalization at over $83 billion. 

How can you buy EMER Tokens?

sale coming soon