Endorsit has recently published its weekly report that covers everything the team has been working on over the last week. The highlight of the report was Endorsit’s reportedly positive performance on the BigONE exchange after the release of its EDS/ETH trading pair on August 29th.

Endorsit claims that within five days, its EDS token had a daily trading volume of “over 1.6 billion,” with an opening price of “0.0000004 ETH and an average price of 0.00000048.” At present, EDS is traded on the BigONE exchange’s Lab Section that can be accessed here.

A number of incentives and marketing activities followed the listing of the EDS token on BigOne, including registration invitation rewards for its top 100 users on the exchange. The encryption mailbox information of the top 100 users has been released, allowing users to check their mailbox codes against the released list. Endorsit has stated that the rewards were issued on September 1st. Winners who have problems claiming their rewards have until September 9th to contact Endorsit’s official assistant to investigate the matter further – using the contact details provided here.

Endorsit also updated its decentralized application for iOS and Android devices. The new release features an update to its dynamic release section, user asset section and other optimizations. Additionally, it’s stated that that the dApp’s influence weight coefficient rules were finalized according to the rules prescribed in its whitepaper; quoting: “EDS will issue an annual increase of 20% of the total amount to EDS lock-in users and creators who contribute to the ecology, with an initial number of 100 billion, which will be 20 billion.” However, there will be a small amendment to these terms that will be written into the smart contract once the dApp goes live. The total amount of tokens will be less than 100 billion after issuance, as some tokens will be burned once the supply reaches 16.7 billion tokens based on total market value.

The team also reported progress on its wallet application, iWallic. This app allows users to hold and transfer NEO, GAS, and Endorsit’s EXT/EDS tokens. In the latest release, the application features stronger transaction protection, bug fixes and a firmware upgrade for security.

In a previous update by the company on July 5th, Endorsit announced its Domestic Author Incentive Program. The incentive intends to recruit the core membership of the platform with activity rewards of 4.5 million EDS tokens. Participants can earn tokens in a number of ways, including writing articles, participating in Endorsit’s internal test author group, community evangelism and many others. You can read through a full list of the incentives and how to contribute here. It’s claimed that the program has been successful in attracting over 300 writers with more on the way. People are welcome to submit content until the end of September by registering with Endorsit’s assistant on WeChat (ID: zanwozlh).

More information on Endorsit can be found at the links below.

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