COFFIN Supply Breakdown
The equal opportunity launch of Coffin Finance 🚀
Some of the information on this page is no longer applicable.
On May 26, 2022, a proposal to stop COFFIN emission 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/0x99e6e2c10ad460cd5dffb8be9ec603e94876eeadd1cd92e47b1fabbd0a7031e9
Aside from minting from using redeeming function, the total planned emission of COFFIN token is 100M. Additionally, the redeem function for CoUSD will also mint new COFFIN. So, there is technically no limit to the amount that can be produced. However, it is not only the inflationary aspect, we have also prepared the burn mechanism as a deflationary mechanism which also provides the user with an opportunity to profit through arbitrage.
The table below displays the distribution schedule of all 100,000,000 original COFFIN tokens to take place over 3 years:
|
Category
|
Allocation (% of Total Supply)
|
Number of Tokens
|
Vesting (Years)
|
|
Farming Rewards
|
77%
|
77,000,000
|
3
|
|
Developer Funds
|
12%
|
12,000,000
|
3
|
|
Marketing Funds
|
8%
|
8,000,000
|
3
|
|
Genesis for Initial Liquidity & Presale
|
3.0%
|
3,000,000
|
0
|
|
Total
|
100%
|
100,000,000
|
|
Additionally, we do have the capability to distribute additional tokens. There is a possibility to extend by an additional 20% of the supply. That means there is a potential to extend 120% supply from the original 100M.
77% of COFFIN tokens will be emitted (distributed) to liquidity farmers and token staking users in various ways over the course of 36 months. The amount of COFFIN emitted daily is subject to change as the team creates new pools, disables pools, changes reward rates for some pools, and allocates some COFFIN rewards as boosting rewards to incentivize pools with Coffin Finance partners. This is subject to change.
12% of the total supply has been set aside for the Coffin Finance Team. This amount will be paid to the team gradually over a 36-month period. These funds will be used to pay salaries, development tools and all other expenses that the team must pay to grow the protocol. It will not include marketing and audit costs. The marketing and audit fees should be paid from the marketing funds.
8% of the total supply has been set aside for Marketing Funds. This amount will be used for advertisement. It will include airdrop campaigns, audits, partnership programs with other protocols and services, a youtube campaign, and the burning of COFFIN as well.
Before DAO released:
-
Our development team will make decisions on how to use all of marketing funds initially.
After DAO released:
-
The community will decide how to spend half of the funds.
-
The other half of the funds, will still stay under the control of the development team to make decisions on how to use that half for the growth of the protocol.
Last modified 9mo ago