egemwhitepaper

Introduction

Egem is a platform leveraging blockchain technology to facilitate the management and trade of fractional NFT (FNFT) ownership using the Egem (EGEM) token. This system introduces two pivotal price points for the EGEM token:

Market Price : The current price of EGEM on the open market.

Intrinsic Price : A calculated value based on evaluation reports, reflecting the inherent worth of the token independent of market fluctuations.

Usage of Prices

Conversion between NFT fractions and EGEM : Utilizes the Market Price.

Update based on evaluation reports : Determines and publishes the Intrinsic Price on the blockchain and within the system.

Egem Smart Contracts

EGEM ERC20 Contract (Market Price)

The EGEM ERC20 contract, which is already deployed, represents the Market Price of the EGEM token. The contract address is required for minting and burning tokens. This contract will interact with the ERC1155 contract to facilitate the conversion and trading of FNFTs.

ERC20 EGEM (Smart Contract Address: 0x4eef4cfa8ae943c8966efab76563c7d9acd1ce26)

ERC1155 Contract

The ERC1155 contract stores and manages FNFTs and their intrinsic values. This contract includes several key functions to mint, update, trade, and read FNFT details, as well as to calculate and store the intrinsic value of EGEM.

ERC1155 NFT (Smart Contract Address: 0xeb94097ba8964f9ca2fe246ab59640b6c1ec435d)

Function Summaries

Mint FNFT : Admin-only function to mint new FNFTs with details such as name, document link, total price, fraction price, and number of fractions.
Update FNFT Details : Admin-only function to update the price details of an existing FNFT.
Calculate Intrinsic Value : Updates and stores the intrinsic value of EGEM in the contract.
Sale NFT : Burns NFT fractions to generate EGEM tokens based on the Market Price.
Purchase NFT : Burns EGEM tokens to generate NFT fractions based on the Intrinsic Price.
Read NFT Details : Retrieves details of a specific FNFT such as name, price, fractions, and document link.
Read EGEM/TRY Intrinsic Value : Retrieves the current intrinsic value of EGEM stored in the contract.

Mechanics and Examples

To help illustrate the mechanics of the Egem platform, we present simplified examples demonstrating the issuance, trading, and value adjustment of FNFTs and EGEM tokens. These examples provide clarity on how the system adapts to changes in the market and evaluation reports.

Initial State

The platform starts with predefined assumptions for EGEM prices:

ERC1155 Contract

Market Price: 0.01 TRY per EGEM
Intrinsic Price: 0.01 TRY per EGEM

Token Generation and Value Adjustment

As new NFTs are introduced and transactions occur, the supply of EGEM tokens and their corresponding values adjust accordingly. Here's a summary of how the system adapts to changes:

New NFT Issuance: A new FNFT is introduced, and its total value and fraction count are used to determine the initial fraction price. EGEM tokens are then generated based on this value.

Price Updates: The value of FNFTs can change over time based on market demand and new evaluation reports.

Burning Fractions: Users can burn FNFT fractions to generate EGEM tokens at the current Market Price, which increases the total supply of EGEM.

Intrinsic Price Calculation: The Intrinsic Price is recalculated based on the total TRY burned and the total supply of EGEM, reflecting the underlying value of the tokens.

Examples of Token and Fraction Interaction

Initial NFT Issuance: A new FNFT is introduced, and its total value and fraction count are used to determine the initial fraction price. EGEM tokens are then generated based on this value.

Market Price Adjustments: As the market price of EGEM changes, it affects the conversion rates between FNFT fractions and EGEM tokens.

Value Increases: If the value of an FNFT increases, the corresponding fraction price also increases, impacting the potential EGEM generation if fractions are burned.

Fraction Burning: When fractions are burned, EGEM tokens are created at the current Market Price, increasing the overall supply of EGEM. The Intrinsic Price is then recalculated to reflect the updated total TRY burned and EGEM supply.

Market Corrections: If the value of an FNFT decreases, it adjusts the fraction price accordingly, affecting the EGEM tokens generated if fractions are converted back into EGEM.

Security

Security Information

Ensuring the security of our platform is paramount. To that end, we have implemented a range of security measures and best practices to protect our users and their investments. Below are the key security features of our system:

Contract Language and Standards

Solidity: Our smart contracts are developed in Solidity, a robust and widely-used language for Ethereum-based applications.

ERC-1155: We employ the ERC-1155 standard for our NFTs, offering efficient and secure handling of multiple types of assets within a single contract.

ERC-20: We utilize ERC-20 contracts to manage the supply of our tokens, ensuring compatibility and reliability.

Security Measures

1) Upgradable Contracts

Feature : Our contracts are designed to be upgradable.
Benefit : This allows us to update and improve the contracts without creating multiple versions on the blockchain, ensuring seamless upgrades and maintaining the integrity of the contract's history.

2) Contract Transactions

Feature: We ensure that each contract handles one transaction at a time.
Benefit: This practice prevents re-entrancy attacks, where an external contract could repeatedly call into the same function before the initial execution completes, potentially leading to vulnerabilities.

3) Required Conditions

Feature: We implement rigorous validation checks within our contracts.
Benefit: These checks prevent unauthorized and erroneous entries, ensuring that only valid data and actions are processed by the contract.

4) Self Destruct

Feature: Our contracts include a self-destruct capability.
Benefit: In cases where it becomes necessary to delete a contract, this function allows us to safely remove the contract from the blockchain and recover any remaining funds, providing a fail-safe for unforeseen circumstances.

5) Access to Private Data

Feature: We use private variables and functions within our contracts.
Benefit: This restriction ensures that sensitive properties are not exposed to users, protecting critical data from unauthorized access and manipulation.

6) Hiding Malicious Code

Feature: Solidity allows any address to be cast into a specific contract type.
Risk Mitigation: To prevent misuse, we carefully manage contract addresses and types to ensure that only intended interactions occur. This minimizes the risk of malicious code execution by untrusted addresses masquerading as legitimate contracts.

By incorporating these security practices, we aim to provide a safe and reliable platform for our users, ensuring that their investments and transactions are protected at all times.

Conclusion

The Egem platform provides a transparent and efficient method for trading and managing fractional NFTs using EGEM tokens. By maintaining both Market and Intrinsic Prices, the system ensures fair value representation and adaptability to market conditions and evaluation insights.

Legal Notice

Disclaimer

The information contained in this whitepaper is provided for general informational purposes only. The EGEM platform, including its associated services and tokens, is a product of Ege Money Investment Yazılım Anonim Şirketi (the "Company"). While we strive to ensure that the information presented in this whitepaper is accurate and up-to-date, the Company makes no representations or warranties of any kind, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained in this whitepaper. Any reliance you place on such information is strictly at your own risk. The Company disclaims any liability for any loss or damage arising directly or indirectly from the use of, or reliance on, such information.

No Offer of Securities

This whitepaper does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in any jurisdiction where such an offer or solicitation would be unlawful. The EGEM tokens are not intended to constitute securities in any jurisdiction. This whitepaper has not been filed with, reviewed by, or approved by any regulatory authority in any jurisdiction. Recipients of this whitepaper are advised to consult with their legal, financial, tax, and other professional advisors before making any investment decision.

No Investment Advice

The information provided in this whitepaper should not be considered as investment advice, financial advice, trading advice, or any other sort of advice. The Company does not recommend that any cryptocurrency should be bought, sold, or held by you. The content of this whitepaper should not be relied upon for any investment decisions. You should conduct your own research and consult with your financial advisor before making any investment decisions regarding EGEM tokens.

Regulatory Risks

The regulatory environment for cryptocurrencies and blockchain technology is rapidly evolving and uncertain in many jurisdictions. Regulatory authorities are examining the operations and business practices of companies involved in cryptocurrencies and blockchain technology. It is difficult to predict the nature and scope of future regulatory actions, which could have a material impact on the EGEM tokens and the EGEM platform. Potential regulatory changes could include, but are not limited to, changes in taxation, restrictions on the use, transfer, and exchange of cryptocurrencies, and enhanced reporting and disclosure requirements. The Company will make every effort to comply with all applicable regulations and laws, but certain legal uncertainties and regulatory risks remain.

Limitation of Liability

To the maximum extent permitted by applicable law, the Company shall not be liable for any direct, indirect, incidental, special, consequential, or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data, or other intangible losses (even if the Company has been advised of the possibility of such damages), arising out of or in connection with (i) the use or inability to use the EGEM platform or EGEM tokens; (ii) any unauthorized access to or alteration of your transmissions or data; (iii) statements or conduct of any third party on the EGEM platform; or (iv) any other matter relating to the EGEM platform or EGEM tokens.

Forward-Looking Statements

This whitepaper contains forward-looking statements that reflect the Company's current expectations regarding future events and plans. These forward-looking statements are based on the Company's beliefs, assumptions, and information currently available to it. Forward-looking statements are subject to various risks and uncertainties, which could cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, changes in market conditions, technological advancements, and regulatory developments. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.

Risk of Loss

Investing in cryptocurrencies, including EGEM tokens, involves substantial risk of loss and is not suitable for every investor. The value of EGEM tokens can fluctuate significantly and investors may lose all of their invested capital. Cryptocurrencies are subject to a variety of risks, including market risks, technological risks, regulatory risks, and operational risks. Potential investors should carefully consider their risk tolerance, financial situation, and investment objectives before investing in EGEM tokens.

Intellectual Property

The Company retains all rights, titles, and interests in and to the content of this whitepaper, including but not limited to, trademarks, logos, and copyrights. All intellectual property rights related to the EGEM platform and EGEM tokens are the property of the Company and are protected by applicable intellectual property laws. Unauthorized use, reproduction, distribution, or modification of any part of this whitepaper or the EGEM platform is strictly prohibited and may violate applicable laws.

Jurisdiction and Governing Law

This whitepaper and any disputes arising out of or in connection with this whitepaper shall be governed by and construed in accordance with the laws of the jurisdiction in which the Company is established. Any disputes arising out of or in connection with this whitepaper, the EGEM platform, or EGEM tokens shall be subject to the exclusive jurisdiction of the courts of that jurisdiction.

Anti-Money Laundering and Counter-Terrorism Financing

The Company is committed to complying with all applicable anti-money laundering (AML) and counter-terrorism financing (CTF) laws and regulations. The Company will implement measures to prevent the use of the EGEM platform and EGEM tokens for money laundering, terrorist financing, or any other illicit activities. Users of the EGEM platform may be required to undergo identity verification procedures and provide documentation as part of the Company's AML and CTF compliance efforts.

Privacy and Data Protection

The Company respects your privacy and is committed to protecting your personal data. The Company will collect, use, and store your personal data in accordance with applicable data protection laws and the Company's privacy policy. By using the EGEM platform, you consent to the collection, use, and storage of your personal data as described in the Company's privacy policy.

Contact Information

If you have any questions or require further information, please contact us at [email protected]. The Company encourages users and potential investors to reach out with any inquiries or concerns.