Treasury

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Treasury
Information about our treasury and associated addresses.
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Some of the information on this page is no longer applicable. On May 26, 2022, a proposal to burn XCOFFIN in treasury was approved through governance voting.

https://coffinfinance.medium.com/proposals-buyback-cousd-burn-xcoffin-stop-coffin-emission-tomb-fork-66930d4592a8​

https://snapshot.org/#/coffinfinance.eth/proposal/0x8e7baa550dff68117d979792231f2b654385303f6ec942b4d6cf76d2ce249b3d​
First things first, we will never dump.
We are writing the deferred protocol of status in case of emergency on our Launch page. 
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"The original plan needs 3,000,000 COFFIN initially, though we’ve changed the hard cap from 300,00 to 200,000 FTM, we will have more than enough after presale. As per our original plan, we are going to use some of the funds for marketing purposes at the developer’s own discretion, little by little. Should we cap half of the funds for marketing purposes, we will place the other half in the treasury."
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There are two large token holders. 
0x521677ca425bb27652c0aC988EdbB19c34B30DeF 
As of 29th Nov, we've staked the all fund for xCOFFIN. 
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Being a temporary treasury address to be updated as soon as we decide with permanence. 
To keep it spread in apart we have separated it into two wallets. 
As of 17th of Oct 2021, we are discussing multi-sig opportunities for for the treasury. We believe we should keep it this way and discuss re-balancing for the winter season, but that would be after starting the DAO. 
0x23AB88EEF24Ad383A2DfF9E10AeDf3A5eeE71b80 
As of 29th Nov, we've staked the all fund for xCOFFIN. 
This is the other address. Is a developers personal and deployment address. 
It has one half of the leftover fund. It has slightly larger balance than the other at this time for the reasons posted below:
Trying to separate to prepare occasional payments, and converted some to prepare other payments. Though because we had no advanced notice, we bought it all back again.
Buying back funds includes some of dev's personal FTM (around 1000 FTM), it was used for buy back. We decided not to rescue it as not to avoid any concerns. 
As per document, It should be used for marketing little by little (partner reward, designer, marketing, airdrop ,etc.,). We will make an announcement regarding any dispensation of funds prior to doing so. Once more to reiterate, we will never dump. We want to see this project through to the very end regardless the outcome, and we thank each and every one of you for you generosity, kindness and support to help decentralize the world. 
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Launch
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