Enjin Blockchain is finally launching on the 13th of September 2023 at 19:00 Singapore time

    Author microcapwatchPosted on Categories CryptoTags , , ,

    Get ready to welcome Enjin Blockchain!

    SINGAPORE, Sept. 6, 2023 /PRNewswire/ — Mark your calendars, set your alarms, update your Enjin Wallet apps. Enjin Blockchain is *finally* launching on the 13th of September 2023 at 19:00 Singapore time (GMT+8).

    Enjin Blockchain is a new Layer 1 custom built with NFT functions right at the protocol layer. It is supported by the longstanding Enjin app layer (Enjin Wallet, the NFT.io marketplace, the Enjin Platform for NFT no code integration, the Beam NFT QR code distribution system). The Enjin ecosystem was the world’s first NFT gaming ecosystem dating back to 2018.

    When Enjin Blockchain was unveiled back in June, the response from the community was overwhelmingly positive. The new chain is set to fulfill the original visions of both Enjin and Efinity, that is, making NFTs accessible to all. The Enjin-Efinity communities will be consolidated, and the ecosystem will run on one unified token (ENJ). As part of this launch, the community can look forward to the following:

    • Efinity Matrixchain will be formally integrated into Enjin Matrixchain as the pioneer matrixchain on Enjin Blockchain following the successful referendum held back in June.
    • Enjin Coin (ENJ) will be migrated 1:1 from ERC-20 to the Substrate-based Enjin Blockchain, and Efinity Tokens (EFI) will be swapped to ENJ at a 4:1 ratio.
    • Core features of the Enjin Blockchain will be live: this includes governance and staking, fuel tanks, managed wallets, and more.
    • Of course, for a hassle-free experience, Enjin Blockchain will work seamlessly with the Enjin app layer: Beam, Enjin Wallet, NFT.io, and the Enjin Platform.

    Migrating your tokens

    FAQs for the token migration were made available a while back, make sure to review these so you know what to expect on the day. For ENJ holders, the FAQ is here, and for EFI holders, it’s here.

    Holding your tokens on the Enjin Wallet app is the most convenient way to access the migration. Come launch, users can migrate or swap easily within the app, and we’ve prepared a guide for that (stay tuned!). For those holding tokens on other platforms, check their website or social media pages for details on their support for the migration or withdraw your tokens to the Enjin Wallet app.

    Governance, staking, and early governance rewards

    Users will be able to participate in Enjin Blockchain governance and help oversee validator nodes. On launch day, they will be able to join nomination pools and bond ENJ right from their Enjin Wallet app. Validator node oversight is grounded in nomination pools, which nominate validators, have ENJ slashed or taken away in case of validator nonperformance. Nomination pools receive ENJ governance rewards for choosing performing validators and helping maintain the network. Expect another blog post shortly, detailing exactly how governance and staking works on Enjin Blockchain!

    To incentivize the community to immediately participate in governance and validator oversight of the new chain, up to 250,000,000 ENJ will be made available to early contributors to nomination pools as early governance rewards! Better join a nomination pool quickly, as these incentives will only be available to those who contribute their ENJ before 15 January 2024.

    From Efinity to Enjin

    Efinity Matrixchain will formally become the Enjin Matrixchain. All data from Efinity will be inherited, and all Substrate EFI will be automatically converted to native ENJ, ensuring a smooth transition. Once the integration is complete and all data is transferred, Efinity will stop producing blocks, and there’ll just be one, unified chain for the entire Enjin ecosystem to enjoy.

    The Enjin app layer

    Of course, Enjin Blockchain will work seamlessly with the Enjin app layer you’ve come to know and love. Beams will be live on Enjin Matrixchain, and you can easily claim them with the Enjin Wallet app. The Enjin Wallet app will also let you migrate your ENJ and EFI to native ENJ, and give you access to the early governance and staking UI. Enjin Platform will also receive new updates with Enjin Matrixchain support, so integrating the new chain with your project or game will be easier than ever: anyone can build apps on Enjin Blockchain, and developers are encouraged to expand the app layer.

    Join the countdown, prepare for the migration, and get ready to explore the exciting possibilities of Enjin Blockchain. Stay tuned for more updates and information in the coming days. Together, we’re shaping the future of NFTs.

    For press queries:

    Oscar Franklin Tan, CFA

    Chief Financial Officer and Chief Legal Officer

    [email protected]

     

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