Announcing Ethertower (ETHTW) ICO

We are pleased to announce the Ethertower ICO, which will occur on Friday, March 13 at 2 PM UTC.

Following the ICO, the Ethertower TGE will take place on April 7 at 2 PM UTC via Elevado Markets.

Introduction to Ethertower

Ethertower is a decentralized reserve asset protocol that issues ETHTW, an ETH-backed and ETH-denominated instrument designed to deterministically preserve and increase ETH value per unit over time.

Each ETHTW token represents a proportional claim on on-chain ETH reserves formed through user deposits into the Ethertower protocol. Its value is determined through a deterministic Net Asset Value (NAV) mechanism that programmatically reflects the ETH backing per unit. This NAV acts as a cryptographically enforced floor: under all protocol-defined operations, the ETH collateral backing each token cannot decrease. Instead, the system is structurally designed so that the ETH backing per unit can only increase over time, rising with every mint and redemption event as value is continuously consolidated into the reserve base.

The protocol is initially bootstrapped at a NAV of 0.001 ETH per ETHTW. From this starting point, the NAV evolves exclusively upward based on protocol activity and reserve dynamics, never falling below its current level. For example, if the NAV reaches e.g., 0.00235 ETH per ETHTW, that value becomes the new structural floor and can only increase further over time.

The Ethertower protocol is built on the ERC-20E standard and runs on the Ethereum mainnet. ETHTW can be traded on Elevado Markets – a native DEX for ERC-20E assets, developed by Elevado.

Why ETHTW

Fundamentally, Ethertower enables users to transform idle ETH into a structurally yield-accreting instrument.

Rather than remaining passive, deposited ETH is consolidated into a deterministic reserve system where value is continuously reflected through the protocol’s NAV mechanics.

Through this structure, each ETHTW token represents a proportional claim on the underlying ETH reserves while benefiting from programmatic NAV expansion. As the protocol processes mint and redemption activity, value is systematically accrued to the reserve base, resulting in a gradual increase in the ETH backing per token.

For participants, ETHTW provides a capital-efficient mechanism to maintain long-term ETH exposure while allowing idle holdings to appreciate structurally over time within a fully on-chain, decentralized framework.

ETHTW vs. Traditional tokens

Built on the ERC-20E standard – a token standard built by Elevado –, the Ethertower protocol functionally mimics the structure of an on-chain open-ended fund.

Unlike conventional ERC-20 tokens – such as governance or utility tokens – traditional crypto valuation metrics such as market capitalization, fully diluted valuation (FDV), and static tokenomics are not meaningful frameworks for evaluating the Ethertower protocol.

ETHTW supply is elastic and adjusts deterministically in response to collateral deposits and redemptions within the protocol. Rather than being defined by secondary market dynamics, the fundamental value of each unit is determined by the NAV, which directly reflects the ETH reserves backing the system and is enforced at the smart contract level.

As a result, ETHTW should be evaluated primarily through NAV development and the protocol’s structural yield dynamics, rather than nominal supply-based metrics commonly used for traditional tokens.

ICO

The Ethertower ICO is a public liquidity provision event for ETHTW.

The ICO starts on March 13 at 2 PM UTC and runs until March 31 at 2 PM UTC.

ETHTW is offered at a NAV (or “price”) of 0.001010101 ETH per unit – representing the resulting NAV deterministically formed after the deployment of the first liquidity block from the pre-ICO (see “Pre-ICO” below).

A total of 2,000 ICO positions are being offered (as ERC-721 tokens).
Each position will deploy 0.03 ETH into ETHTW. This results in 29.37 ETHTW per ICO position – (0.03 ETH − 1% protocol fee) ÷ 0.001010101 ETH = 29.37 ETHTW.
The ICO is capped at a maximum of 60 ETH deployed (2,000 positions × 0.03 ETH).
After minting, pre-ICO positions can be traded on secondary markets (e.g., OpenSea) or redeemed for ETHTW (see “TGE” below).

Pre-ICO

The Ethertower pre-ICO is a liquidity provision event gated by EO. It establishes the first liquidity block in the ETHTW contract, preceding the second liquidity block formed through the ICO.

The pre-ICO occurs concurrently with the ICO, starting on March 13 at 2 PM UTC and running until March 31 at 2 PM UTC.

ETHTW is offered at its initial NAV (or “price”) of 0.001 ETH per unit, defined at the smart contract level.

A total of 999 pre-ICO positions are being offered (as ERC-721 tokens).
Each position corresponds directly to an EO ID. For example, EO #1 can claim Position #1, EO #10 can claim Position #10, and so on.
Each position will deploy 0.02 ETH into ETHTW. This results in 19.8 ETHTW per pre-ICO position – (0.02 ETH − 1% protocol fee) ÷ 0.001 ETH = 19.8 ETHTW.
The pre-ICO is capped at a maximum of 19.98 ETH deployed (999 positions × 0.02 ETH).
After minting, pre-ICO positions can be traded on secondary markets (e.g., OpenSea) or redeemed for ETHTW (see “TGE” below).

TGE

Claiming of ICO and pre-ICO positions occurs at the Ethertower TGE, with no lock-ups or restrictions.

The Ethertower (ETHTW) TGE will occur on April 7 at 2 PM UTC on Elevado Markets.

Ethertower’s derivative assets (eETHTW, eeETHTW – see more here) will be launched once ETHTW reaches sufficient circulating supply (approximately 200,000-300,000 units).

Learn more about Ethertower, ERC-20E, Elevado Markets, and more, in our docs here.

DISCLAIMER Ethertower is a decentralized and autonomous software protocol deployed on the Ethereum blockchain. Participation in the protocol, including the ICO, pre-ICO, token generation event (TGE), or any related activity, is voluntary and involves risks. Nothing in this document, the protocol, or any communications from Elevado, its contributors, or affiliated parties constitutes financial, legal, tax, or investment advice. This document does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to acquire any asset. Users should conduct their own independent research and due diligence before interacting with the protocol. ETHTW and related protocol mechanisms are fully decentralized and autonomous. Elevado and its contributors have no control, authority, or custodial rights over the protocol once deployed. No party guarantees the performance, value, or appreciation of ETHTW, and past, modelled, or projected outcomes are not indicative of future results. By interacting with the protocol, users acknowledge and accept all risks and assume full responsibility for any resulting outcomes. Participation may be restricted or prohibited in certain jurisdictions. It is the responsibility of each participant to ensure that their actions comply with applicable laws and regulations.