Flow of Funds
The life cycle of ENSC involves five general steps, comprehensible through a diagram, and it encompasses various other applications. E.g. as a debt token on app.prosperavest.com
Step 1: User deposits Fiat Naira (NGN)/eNaira (CBDC) into ProsperaVest ESG LTD's speed wallets held in trust by partner banks through third party payment processor (Flutterwave).
Step 2: ProsperaVest ESG LTD generates and credits the user’s EVM based wallets with ENSC. ENSC enters circulation. Amount of fiat Naira/eNaira deposited by user = amount of ENSC issued to user (i.e. 10k Naira deposited = 10k ENSC issued)
Step 3: Users transact with ENSC. The user can transfer, exchange, and store ENSC via a p2p, opensource, pseudo anonymous, Blockchain based platform.
Step 4: The user deposits ENSC with ProsperaVest ESG Limited for redemption into fiat currency.
Step 5: ProsperaVest ESG Limited destroys the ENSC and sends fiat currency to the user’s bank account via third party payment processor (Flutterwave)
Users can obtain ENSC outside of the aforementioned process via an exchange or another individual. Once ENSC enters circulation it can be traded freely between any business or individual. For example, users can purchase ENSC from listed exchanges soon. The main concept to be conveyed by the ENSC Flow of Funds diagram is that ProsperaVest ESG Limited is the only party who can issue ENSC into circulation (mint them) or take them out of circulation (burn them). This is the main process by which the system solvency is maintained.
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