Launch
If you don't mind spending your money to try being our super early testing user, we can invite you as just a tester. We cannot say it's an investment. We need to assure you that it must be a waste of money.
We prepare a role "Fearless Tester" and accept them to use the testing environment.
The tokens during the test are temporary, and will be disposed at official launch.
(Updated on 1 Oct 2021) If you really try it out with temporary test token, please DM to us via discord then give you some of test tokens. But it might be worthless.
Please read below article. We are going to make a further announcement in few days.
We have made an announcement about Presale resumption on 13th of Oct.
Now, we don't create the Presale on the launchpad platform until a few hours before the scheduled time. ( 6-12 hours. )
With that, we will disclose the URL on discord community before the scheduled time. After that, we'll be making an announcement too on our Twitter.
The first place we will disclose the url will be via the discord community before the scheduled time.
In our discord server, we are going to disclose the URL in #pallbearers . Then post on #announcement channel. we believe there is no big different. ( You can find informations about pallbearers on #suggestions channel then, ask the role managers. )
Please read the below announcement.
- Please join our discord and read the announcement.
- Using presale.money. Anyone can join without SMART tokens.
- There is no lockup time for COFINN token on Presale. You can withdraw the token after end of Presale.
- Minimum contribution 100FTM.
- Maximum contribution 1000FTM.
- Liquidity lock:
- The only funds locked will be the funds raised by the presale.money. It doesn't related to COFFIN token you purchase.
- Users can withdraw COFFIN tokens from PresaleMoney before the farms open, at least 3 hours in advanced.
- Even though Presale finish immediately, users need to wait for token release.
- It's to avoid selling pressure.
- 80% of raise fund WITH LOCK
- It will be converted to COFFIN-FTM pair on SpookySwap. It could be assured by Presale.Money’s liquidity lock , at least 3 months, will be used for its liquidity. ( = 3 months liquidity lock )
- Another 20% WITHOUT LOCK.
- => 10%, the another will be converted to initial liquidity for CoUSD-USDC pairs on SpookySwap, BY MANUALLY. It means there is no lock for CoUSD-USDC pairs with PresaleMoney. Coffin Finance assures it’ll be used for its liquidity at least 3 months.
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- => 10% dev allocation: It’s a part of dev & audit fee. ( Even though the Presale sold out up to max cap, it’s not enough honestly. )The protocol need to earn such costs to continue development, the dev need to sell COFFIN someday. The allocation reduces selling pressure at the time.
- Presale Start Time: 13th of Oct, at UTC 23:00.
- Presale End Time: 15th of Oct, at UTC 23:00
- DEX Listing: After end of Presale by the launchpad.
- Users can withdraw COFFIN tokens from Presale.Money before the farms open, at least 3 hours in advanced.
- Even though Presale finish immediately, users need to wait for token release.
- It's to avoid selling pressure.
- Disclose all production contract : 5th Oct. ( already )
- Farms open: 16th 11:00 UTC
- In case of security concerns, we will postpone in few days, less than a week.
- Presale Rate: 5 COFFIN for FTM. ( 1COFFIN = 0.20FTM)
- Listing Rate: 4.5 COFFIN per FTM. ( 1COFFIN = 0.2222... FTM)
- Soft Cap: 100,000 FTM
- Hard Cap: 200,000 FTM
- Updated on Oct 5th.
- On Presale.Money, the soft cap must be greater than 50% of hard cap.
- So, we change the caps to 100k & 200k.
This mean, to create initial liquidity + to prepare Presale, in advanced we need to pre-mint.
- For COFFIN-FTM pair :
- 200,000 / 0.2 + 200,000*0.8/0.222 = 1,000,000 + 720,000 = 1,720,000 COFFIN.
- For CoUSD-USDC pair:
- we don't pre mint CoUSD a lot, we create CoUSD by our system manually.
- Means we can add liquidity as 5% USDC+ 5% CoUSD. ( not 10% USDC + 10% CoUSD ) .
- How many COFFIN the system need initially is depending on TCR.
- If TCR=90%. 200,000 * 10% * (100%-90%) / 0.22222 = 9,000 COFFIN.
- if TCR=50%. 200,000 * 10% * (100%-50%) / 0.22222 = 45,000 COFFIN.
- if TCR=100% 200,000 * 10% /0.222222 = 90,000 COFFIN.
The first plan needs 3,000,000 COFFIN initially though, we changed hard cap from 300,000 to 200,000 FTM. We will have enough COFFIN leftovers. As per initial plan, we are going to use some of the funds for marketing purpose by dev’s discretionary, little by little. But we should cap half of the funds for the marketing purpose. Another half will go to our Treasury.
WE DON’T RECOMMEND YOU TO INVEST A LOT OF MONEY.
IF MY MOTHER ASKS ME ABOUT OUR SERVICE, I WON'T LET HER INVEST ANY. AND IF SHE HAPPENS TO ASK ME AGAIN, I MIGHT ADVISE HER TO JUST INVEST ONLY A FEW DOLLARS.
WE ARE GOING TO PROVIDE ONLY A FEW LIQUIDITY DURING THE LAUNCHING. OUR SYSTEM DEPENDS ON ORACLE PRICE. SO THE PURPOSE OF THE LIQUIDITY IS JUST TO LET THE SYSTEM WORK.
IT’S STILL UNDER AUDIT. WE CANNOT ASSURE YOUR PROFIT, AND YOU MIGHT LOSE MONEY. ONLY INVESTORS CAN CONSIDER IT AS JUST EXPERIMENT OR TRIAL.
After Presale, we will launch the mint/redeem functions immediately. The minting function enables users to convert “FTM” & “COFFIN” into “COUSD”. The redemption enables users to "COUSD" to "FTM" & "COFFIN".
First 10 days.
- The emission : 10,800 - 64,800 COFFIN / days
- Harvest interval: every 6 hours.
- Deposit Fee: 0
Farms
- COFFIN-FTM
- Withdraw lockup: 12 hours.
- COUSD-USDC ( stable pair )
- No Withdraw lockup: No
- COFFIN ( single stake )
- Withdraw lockup: 18 hours.
- WE MIGHT NOT RELEASE THE SINGLE SOON
We gradually expand emissions little by little manually.
We confirm total distribution during 3 years will be 100m. However, we don't have specific plan how to change emission rates for now. After releasing, we would like to update the rates.
Because of 100m total emissions in 3 years, daily average of emissions should be 100m / (3*365) = 91324 / day. So we will going to increase.
After successful launch, we plan to launch another governance token, XCOFFIN, in 4 weeks. The release date is updated. please read below article.
Last modified 9mo ago