FAQ

What are the differences between Enigma and Genesis?

Genesis and Enigma are two sides of the Euler record. They have similarities in the basic theme but are distinct in a variety of ways:

Factor	Genesis Release	Enigma Release
The sale method and price of an original token	First-come-first served. Fixed Static pricing at 0.27Ξ	Dynamic pricing set by the market through an auction
Number of original tokens	27	27
Burn reserve	90%	84%
Number of prints (fungible tokens) possible per original	119	160
Feasibility to collect all prints	Not practical: Last token price is 721Ξ	Practical: Last token price is 53Ξ
Print start price	0.027Ξ	0.1Ξ
10th print price	0.274Ξ	1Ξ
30th print price	0.92Ξ	3Ξ
50th print price	2.292Ξ	5Ξ
75th print price	12.776Ξ	7.5Ξ
100th print price	119.982Ξ	10Ξ
119th print price	721.037Ξ (last print)	11.92Ξ
140th print price	Not applicable	15Ξ
160th print price	Not applicable	54.34Ξ (last print)
Art	Dynamic grid 2-D art	Dynamic radial 2-D art
Music	Generative	Generative with richer rhythmic and harmonic structure
Original Token	Minted randomly at time of sale	Minted randomly before auction
Token preview before purchase	Was not possible	Possible during the initial auction
Art + music seed generation	Random at token minting	Random at token minting

What is the print supply?

Each of the 27 original non-fungible tokens has a supply of fungible print tokens. Each Genesis original has a capacity of 119 prints and each Enigma original has a capacity of 160.

What happens when I burn a print?

When you burn a print token you get the ETH representing the current burn value of the token on a bonding curve. Burning a token reduces the current print supply by 1for that specific Original token.

How does the Enigma bonding curve differ from Genesis?

The Enigma bonding curve is instrumented to make collecting all prints of a given original a practical goal. The Enigma release alters its bonding curve to allow for more prints to be available in the lower price range and cuts off the total print supply before the exponential curve becomes too steep.

What is the burn price?

The burn price is set on a bonding curve.The burn price for Genesis is 90% of the price to print the nth print of a given Original. The burn price for Enigma is 84% of the price to print the nth print of a given Original Burning a print reduces the current supply of prints, for a given original token, by 1.

What is the royalty scheme for Genesis and Enigma original token holders?

Owners of the Genesis original token receive 8% royalty on every print sold. Owners of the Enigma original token receive 8% royalty on every print sold.

Why only 25 out of 27 Enigma prints were auctioned?

The 26th Enigma print has been offered to the community of 700+ Genesis token holders, and 67 early bird supporters of the EulerBeats project. The candidate recipients of the token are actively self-organizing to create a DAO. See this article for more information. The 27th Original is retained by the EulerBeats team to continue our experiments.

What is the reserve?

The sale of each Genesis print puts 90% of the sales price into the reserve with 2% sent to the project team and 8% sent to the Original token owner. The sale of each Enigma print puts 84% of the sales price into the reserve with 8% sent to the project team and 8% sent to the Original token owner.

What is the difference between token IDs for Enigma?

For Enigma, the Original token IDs are even. For prints the IDs are odd. You can add a 1 to the Original token ID and you will get the associated print ID.

Why does token URI in the smart contract point to a centralized server?

This is to make it easier for the NFT marketplaces (e.g., OpenSea) to retrieve the media and the list of EulerBeats tokens on their sites. We provide pre-rendered assets for these sites to enable a readily consumable visual representation of the token served from our storage repositories. The EulerBeats token metadata and its media reside on the Ethereum blockchain and you can verify this yourself. To see this in action watch this video.

Staking

Can I stake Originals ?

No. Originals cannot be staked.

Can I stake Print pairs of different LP#s ?

No. Staking currently supports only pairs of the same LP#.

If I unstaked a day before rewards are distributed will I receive any pro-rata reward ?

No. You must have prints staked at the time of reward distribution to get the reward.

If I staked a pair of prints today and a friend staked a pair of prints 5 days later, and say rewards were issued 6 days later, how much reward would each of us get ?

Both you and your friend would get the same reward.

How are rewards calculated ?

Treum collects 2% royalty on Genesis prints and 8% royalty on Enigma prints. Lets say,

(a) Treum launches staking today and 20 print pairs were staked over the next 7 days

(b) Lets say, 50 new prints occur in that same 7 day period and that generates 3 ETH in royalties for Treum.

(c) Treum on day 8 manually adds the 3 ETH reward to the pool. This would mean each pair is eligible to receive 3/20 ETH = 0.15 ETH minus the gas fees paid when interacting with the contract.

How long will you run the program?

We are planning to run the experimental staking program for at least 3 months. The EulerBeats original token owners are planning to develop and launch other staking programs.