Egoras (old): Decentralized Unsecured Microcredit Protocol

What is Egoras (old)

Friends, imagine if you want to start a business or expand your operations, but the bank thinks you don’t have enough collateral, or your credit history isn’t good enough, so they won’t give you a loan—what do you do? The Egoras (old) project is like a bridge built for those “forgotten” by the traditional financial system. It’s a blockchain-based online platform whose main goal is to provide “asset-backed loans.” Simply put, you can use some digital assets or physical assets as collateral to get a loan. It also features a special “collateral valuation tool” to help assess how much your pledged assets are worth.

This project was originally founded in 2020 in Port Harcourt, Nigeria, by Ugoji Harry and Izunna Isdore Ozuo.

Project Vision and Value Proposition

The core vision of Egoras (old) is to address the pain points of the “unbanked” and “underbanked” populations worldwide. It’s estimated that over 2 billion people globally lack access to basic financial services. Egoras (old) hopes to help these small business owners and entrepreneurs obtain funding by providing unsecured microloans, thereby improving their lives and driving local economic development. Its value proposition lies in using blockchain technology to lower the cost of financial services and improve service quality, enabling more people to benefit from inclusive finance. It’s like moving banking services to a more open and fair digital world, giving those who hit a wall in the traditional world a chance to find opportunities.

Technical Features

Egoras (old) is a blockchain-based platform, which means all its transactions and records are open, transparent, and immutable—like a “digital ledger” that everyone can view. It adopts “on-chain governance” and a “self-funded treasury” mechanism. “On-chain governance” is like major community decisions being made not by a few, but by token holders voting. The “self-funded treasury” is like a public fund for the project, used to support ongoing development and operations. Although the specific underlying technical architecture and consensus mechanism are not detailed in public sources, its core is to leverage blockchain’s decentralized nature to build a fairer and more efficient lending environment.

Tokenomics

The token symbol for Egoras (old) is EGR. Its total supply is about 99.09 billion tokens. Notably, Egoras (old)’s circulating supply is reported as 0 on platforms like CoinMarketCap, Binance, and Coinbase, meaning there may be no active EGR tokens in circulation, or the circulating amount is extremely low. Its maximum supply is shown as “--” or “unknown.” The EGR token mainly operates within the BNB Chain ecosystem.

The EGR token plays an important role in the Egoras (old) ecosystem:

• Governance: EGR token holders are responsible for managing the Egoras lending protocol, including approving or rejecting loan applications. It’s like shareholders voting on major company matters.
• Rewards: EGR voters participating in governance can receive two types of rewards. One is EGR voting rewards, generated through an inflationary monetary policy; the other is ETH rewards, sourced from fees paid by borrowers when repaying loans. EGR tokens locked during voting are returned to holders within 72 hours after the governance process ends.

It’s important to note that, due to its “old” project status and reported 0 circulating supply, the actual utility and value of the EGR token may be very limited.

Team, Governance, and Funding

Egoras (old) was co-founded by Ugoji Harry and Izunna Isdore Ozuo. The team is characterized by its focus on addressing financial service gaps in regions like Africa. As mentioned, the governance mechanism is mainly realized through on-chain voting by EGR token holders. In terms of funding, Egoras (old) has raised $1.3 million through two rounds, with investors including Exnetwork Capital and BlackDragon. The most recent round was an ICO (Initial Coin Offering) on June 3, 2021, raising $260,000.

Roadmap

For Egoras (old), due to its “old” positioning, there is no clear, detailed roadmap for this specific version in public sources. We know it was founded in 2020 and held an ICO in 2021. However, over time, the Egoras ecosystem seems to have evolved in new directions and projects, such as “Egoras (New)” and “Egoras Technology,” which focuses on electric vehicle charging stations. Therefore, information on historical milestones and future plans for “Egoras (old)” is very limited, and it’s likely that this version is no longer active or has been replaced by newer projects.

Common Risk Reminders

Investing in any blockchain project comes with risks, and for an “old” project like Egoras (old), pay special attention to the following:

• Project Activity and Support Risk: Given its “old” designation and the 0 circulating supply reported by major crypto data platforms, Egoras (old) is likely no longer active, or its development and maintenance have ceased. This means the project may lack ongoing technical support and community engagement.
• Liquidity Risk: 0 circulating supply directly leads to extremely low liquidity. If you hold EGR tokens, it may be very difficult to sell or exchange them for other assets on the market.
• Technical and Security Risk: Any blockchain project may face smart contract vulnerabilities, network attacks, and other technical risks. If the project is no longer actively maintained, these risks increase further.
• Market and Economic Risk: The cryptocurrency market is highly volatile, and project value may be affected by market sentiment, competing projects, and other factors. For an inactive project, the risk of its token value dropping to zero is very high.
• Compliance and Operational Risk: With increasing global regulation of cryptocurrencies, the project’s compliance may face challenges.

Please note: The above information is for project introduction only and does not constitute investment advice. Be sure to conduct thorough independent research and risk assessment before making any investment decisions.

Verification Checklist

• Block Explorer Contract Address: According to CoinMarketCap, the contract address for Egoras (old) is 0x73Ce...630573. Another address, 0x8e9...8a467, is listed on TokenInsight as the contract address for Egoras Rights (EGR). It is recommended to check these addresses on the BNB Chain explorer to verify their activity.
• GitHub Activity: The EgorasMarket/what-is-egoras GitHub repository exists, but its content is more like a project introduction rather than an active codebase, showing 0 stars, 0 watchers, and 0 forks—very low activity.
• Official Website/Community Activity: Given the “old” label, its original website and community may no longer be active or may have shifted to new Egoras projects.

Project Summary

Egoras (old) is a blockchain project born in 2020, with the original intention of using decentralized technology to provide asset-backed loans and microcredit to hundreds of millions of people lacking financial services worldwide. It aims to build a more inclusive, low-cost financial system through on-chain governance and a self-funded treasury. The EGR token plays a role in governance and rewards, allowing holders to vote on loan matters and earn rewards.

However, based on currently available information, Egoras (old) as a specific version of the project is now very inactive. Major crypto data platforms all report its circulating supply as 0, strongly suggesting the project may no longer be active or has been replaced by subsequent iterations (such as Egoras (New) or Egoras Technology). The latter has shifted to new business directions like electric vehicles and charging stations, and has its own blockchain, Egochain.

Therefore, if you are researching the Egoras project, be sure to distinguish between “Egoras (old)” and other subsequent Egoras-related entities. For “Egoras (old)” itself, due to the lack of active development, community support, and circulating tokens, its future potential as an independent project is very limited. For more details, please do your own research and evaluate carefully. This is not investment advice.