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$PUSH Token Financial aspects

Separating the utility of the $PUSH governance token in the EPNS convention

Ethereum Push Notification Service (EPNS) is a convention for decentralized notifications on the Ethereum blockchain. EPNS empowers applications and clients to make and buy into notification channels, empowering blockchain-local correspondence among applications and clients. The Web3 biological system today imparts through channels like email, Medium, Twitter, Discord, WeChat, and that's only the tip of the iceberg. For quickly advancing use cases like DeFi, these types of correspondence battle to scale. EPNS convention allows applications to send push notifications to clients with respect to refreshes, account data, item drops, and more. Clients can likewise set up custom notifications in light of on-chain occasions to all the more likely screen ventures, exchanges, application security, convention execution, and that's just the beginning.

$PUSH is the local governance badge of the EPNS convention. PUSH furnishes its holders with two essential advantages: governance freedoms and award gathering. Following the organization token age occasion, PUSH holders will actually want to take part in the advancement of the EPNS convention and procure awards from the expenses paid to the organization.

Reward Gathering

The EPNS stage comprises of services, channels, and subscribers. Services are dapps or smart contracts that wish to send notifications. Services set up channels that send notifications when certain occasions occur or boundaries are met. Supporters are the clients that sign up to those channels and choose to get notifications.

At the point when services set up a channel, they should store something like 50 DAI into a typical staking pool. The normal staking pool is a collection of the charges from all channels across the EPNS convention. The normal staking pool is then staked in AAVE (at the hour of send off), where it builds esteem. Accumulated DAI is appropriated to supporters of EPNS diverts with respect to how early they joined. Charges are carried out when services close channels, to disincentivize gaming.

The EPNS convention additionally has the expense pool, which is attached to $PUSH proprietorship. The expense pool is an assortment of miniature installments paid by services either in a for every notification or yearly membership model. Expenses are paid in DAI or ETH, and gathered in the charge pool. The charge pool is disseminated to the local area. 70% goes to $PUSH holders and 30% goes to the environment improvement reserve. The charge pool won't be live with mainnet send off, and will be enacted in the span of a year or so following the convention's send off.

Governance Freedoms

$PUSH likewise gives proprietors the option to decide on convention choices, including the marking structure, marking system, and award circulation rates. Governance votes can incorporate the construction of the expenses paid by services (for example per notification or yearly membership), the DeFi system for the marking pool (for example marking through AAVE or somewhere else), and other basic boost and monetary components of the convention.

How to EPNS

1 Any user who activates themselves on the protocol to send notification is called a Channel.

2 In other words, a channel is any service (protocol, dApp or even web2 service) that wants to send notification out to web3 usernames (wallet addresses).

3 A wallet address can only create one channel on the protocol.

4 A channel is free to delegate (or revoke delegates) sending notifications functionality to any number of other wallet addresses on their behalf as well.

5 Creating a channel requires 50 DAI and Channel info (Channel name, Image, description, CTA) and yeah some ETH too.

6 Channels can send notifications to their users(wallet addresses) in a number of ways including:
Backend SDK (Gasless, Best for automated logic from dApp / Backend)
Showrunners Framework (Scaffold / Gasless, Best for automated logic via scaffold backend)
Smart contract to Smart contract (requires gas, Best for instant on-chain events, piggybacks on a on-chain transaction via Interface ABI call)
Manually from EPNS dApp (Gasless, Best for manual logic)

7 Users can gaslessly opt-in to receive notifications from these channels. See entire walkthrough here.

8 Opted-in users are called subscribers of the channels. Subscribers of the channel receives notifications from those channels in their Inbox.

9 Non-opted users or non-subscribers of the channel aren't alerted when they receive a notif from a non-subscribed channel, instead, it lands in their spam folder.

10 Currently we have Staging and Prod dApp that interfaces with EPNS Protocol to enable communication & notifications.

About Ethereum Push Notification Service

The blockchain space is developing at a very fast speed and the outstanding development is projected to proceed with quickly as far as clients, services and income . In spite of this development and growing utilization of blockchain tech, the services (dApps, services, brilliant agreements) actually miss the mark on real and natural correspondence medium with their clients which is in some cases filled by elective correspondence mediums like twitter, wire or email nullifying the point of web 3.0.

On a more regular basis however, dApps, brilliant agreements or services expect that clients will come to them. This strategy is basically the same as the mid 2003 period of the web where clients were supposed to play out an activity, return later and really take a look at the consequences of those activities (Gmail, Orkut, and so on).

While this was good with early web days and web 2.0, it isn't true with conventional services now. As a matter of fact, no web 2.0 service truly anticipates that the client should come to them now, all things being equal, they contact their clients illuminating them about specific significant occasions or any further activities expected from clients end. Current push notification assumed a urgent part in this change and has turned into a spine for all web 2.0 services now . Ethereum Push Notification Service (EPNS) is a decentralized notification convention that empowers any smart contracts, dApps or even customary services to send notifications to wallet addresses, as long as those wallet addresses have selected in to get them from that specific service.

Comment (2)

Riva Collins

June 6, 2022 at 11:00 am

Great, Informative blog

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Sandeep

June 4, 2022 at 12:20 am

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