Coin Liquidity Token Offering Results and Next Steps

Coin has just completed its Liquidity Token Offering via TrustSwap Launchpad. This is a significant milestone and we are so pleased to announce that we achieved our hardcap having raised 2.4 Million USDT.

Accomplishing this milestone wasn’t easy, but we did it with the help and support of our wonderful community, both members of long-standing and those who have recently joined our ranks. We thank you all for your patience, diligence, and loyalty through this process.

We would like to share a quick recap of the highlights of how we reached the summit of our hard cap. The results of our token offering exceeded our expectations. We received subscriptions from approximately 1400 participants that resulted in 3x our hardcap and over $7M in subscriptions during our 12-hour offering window. In fact, we reached our hardcap of 2.4M $USDT in registrations under twenty minutes (with a KYC process that took an average of 10 mins). Due to the offering being oversubscribed, the offering was only available for SWAP (> 2000) holders. Various countries including the United States were excluded from this offering. Here is some additional statistics:

  • Min: 1 USDT
  • Max: 1M USDT
  • Average Contribution Offer: ~$6,500
  • Max Cap Contribution Per Person: 1,594 USDT
  • No. of Invited Participants: 888

Following through with executing the funding of the offering we obtained our hardcap of $2.4M USDT by the early morning of today, November 23, 2020.

With this major milestone attained, we will now turn our sights to the process of listing our $COIN on Uniswap. We will open the Coin Uniswap pool on Thursday, November 26th. We welcome anyone who was unable to take part in our Liquidity Token Offering to join us via Uniswap. The initial listing price within the pool is $.10 per $COIN token. Coin will lock $1M and the equivalent number of $COIN tokens in the pool for one year. The community will determine if the pool should renew the lock annually.

For security, we will not be releasing the token contract address information until the day of the listing on Thursday, November 26th. This decision is to prevent scam and developers from preparing bots to front-run long term buyers of $COIN.

Please note that there will be scam attempts. Any $COIN listed on Uniswap before our official announcement is fraudulent. Additionally, only interact with the token contract address that Coin will publish across our official social media on Thursday. Lastly, any $COIN pool that does not have at least a total of $2M in total locked liquidity (ETH and COIN) should be considered fraudulent.

On Monday, November 30th, we will unlock the first 25% tranche of tokens to those contributors who exchanged $COIN in the offering. Every following Monday, an additional 25% will be released until the full amount of $COIN exchanged has been unlocked on December 21.

Once the Uniswap listing is accomplished, and $COIN liquidity has been unlocked, our next area of focus will be bringing the Coin Exchange to Mainnet in late December. This process will be inclusive of security audits, token upgrades, and more.

We look forward to reaching these additional milestones with all of you. We sincerely appreciate you and look forward to this journey together.

Important Dates

  • 11/26: Uniswap Pool Creation and Listing
  • 11/30: Token Offering — 25% Weekly Unlock
  • 12/7: Token Offering — 25% Weekly Unlock
  • 12/14: Token Offering — 25% Weekly Unlock
  • 12/21: Token Offering — 25% Final Unlock
  • 12/21: Coin Exchange MainNet, Token Upgrade, Staking Launch, $COIN Airdrop

For more information, please visit our website at coindefi.org.

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