We are happy to report that the interest in $COIN™ and overall support for our mission has exceeded our expectations. Our token offering on the 19th of November, while a major milestone, represents the very beginning of a long journey for our team to democratize cryptocurrencies and bring it to the masses. Whether you have already planned to participate in the offering, or are in the process of doing so, we’d like to take the opportunity to provide our perspective on the top five reasons why you should support Coin.
1. Experienced and Authentic Team
As with most Venture Capitalist’s around the world (whether in Silicon Valley or Silicon Wadi), top investors will vehemently agree that the first thing they look for when investing is a strong team. Anyone can dream of an idea. But how many people or teams can execute one successfully? As execution trumps ideas, having a great team that can drive results is essential. At Coin, we are extremely proud of the team we have assembled to drive our mission.
The core of our team are technologists with years of experience working in the industry at companies such as Microsoft, IBM, and more. In fact, most have had experience working together prior to joining Coin, resulting in strong team chemistry, collaboration, and a track record of success. Our experience extends around multiple disciplines and specialties. Additionally, our advisors are respected leaders within their industry and have achieved national recognition. Unlike some blockchain startups, our team is not anonymous. We are extremely proud of our identities, history, and overall experience — all of which can be validated by our social profiles on the Internet.
2. Solution to a Real Problem
While blockchain technology is revolutionizing and transforming various industries, it has also garnered the interest of disingenuous startups and scams that are looking to capitalize on the current momentum in this space. This has resulted in a dilution of quality in the overall industry, with many startups having no viable business model or real solution to a problem or pain point.
At Coin, we aim to democratize cryptocurrencies and bring them to the masses. To simplify the process of managing digital assets so that even those with limited technical experience can participate in this new revolution.
At Coin, we are seeking to disrupt the operational arm (such as sending, receiving, and exchanging) of the blockchain industry which has been operating with the same archaic principles and processes since its inception. The industry is ripe for innovation and the application of blockchain technology can open doors to new possibilities that provide users with complete autonomy and simplicity. Unlike many of the solutions that exist in the world today, the introduction of our $COIN™ token, Coin Exchange, and the overall Coin network provides a comprehensive solution to solving a real problem that impacts users across the world.
3. Token Utility
Expanding on the first paragraph in the point above, Solution to a Real Problem, many startups are entering the blockchain / cryptocurrency space and creating alternative coins that offer no intrinsic value or utility. Most, at best, are offering alternative coins whose only function is a unit of account or means of exchange on their platform — when in reality, they could simply accept a current digital currency such as Bitcoin.
At Coin we operate differently. $COIN™, as a token, has utility within the network to provide liquidity and collateral for the network to operate. These conditions warrant specific use for the token in the overall Coin ecosystem. The $COIN™ token; a digital cryptonized asset and network access token which will enable holders to execute Coin smart contracts, stake interest, execute governance rights, and more. It is a store of value, unit of account, a record of investment, the primary means of exchange used to pay for the execution of all smart contract code, and the form of compensation to liquidity providers/stakers in the Coin ecosystem. $COIN™ also represents a stake in the Coin protocol and is the voting currency for all proposed protocol and platform changes by the community.
Coin also intends, in the future, to operate as a decentralized autonomous organization (DAO). This transition will ultimately give the control and power of the organization to the users of the network. To reward its users and $COIN™ token holders, Coin intends to redistribute all platform revenue back into the network. Revenue will be used for $COIN™ buybacks which will then reward stakers in the network. Therefore, creating a continuous cycle of revenue → buybacks → stakers → exchanges.
As mentioned earlier in this article, execution trumps ideas. Try searching the term “execution vs. idea quotes” in Google, and you’ll find a bevy of quotes from famous entrepreneurs that support this notion. At Coin, we strongly believe the same. Unlike many other companies in this industry, we have been in motion and development for the past couple of years. Our smart contracts have been developed and available on GitHub for community review, while our beta version of the platform has been in progress. We believe it is our responsibility to build trust by demonstrating our capability and passion through action prior to raising funds (as opposed to asking the community to participate in high-risk projects with no product that may never come to fruition). Coin is a long-term, full-time commitment for our team regardless of what transpires in the industry.
Following the offering on the 19th of November, Coin will have a circulating supply of approximately $4M. Today, by VC standards, traditional non-blockchain startups are generally valued around $5-$10M after securing their initial seed round. The Coin organization believes a $4M market capitalization in today’s blockchain industry is extremely fair considering the team, traction, functional product, innovation, and more. When compared to the market capitalization of the most popular decentralized exchanges today, Coin pales in comparison. Especially because those leaders are Ethereum-only based chains and Coin supports cross-chain interoperability while incorporating AI. With the appropriate execution, traction, and support from its community, Coin believes that it can achieve valuations that can exceed the competition.
As more participants join the Coin ecosystem, the community rapidly increases in size through network effects. As the overall ecosystem grows, transaction volumes increase and drive the buyback of $COIN™ to replenish the $COIN™ staking reserve. In turn, the demand of the $COIN™ token will increase organically. But most importantly, community transactions appreciate and become perpetual.
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