The Next Chapter of Coin

Image for post
Image for post

Over the past two years, we as a team, company, and community have experienced an eventful journey together. This included the deployment of several platforms and working across the blockchain and banking industries to discover product-market fit. We’ve increased our engineering knowledge, expanded our industry network, and have built direct relationships with our community. Through this process, we have discovered a great deal of information that we are leveraging to our benefit as we continue to march forward. Overall, these experiences, and a shift in market demand, have resulted in a renewed strategy that has brought us full-circle to the reason we originally started the company. Starting today, we would like to unveil the next chapter of Coin.

A Shift to Decentralized Finance (DeFi)
Since the Spring of 2020, the blockchain industry has experienced a renewed interest in decentralized financial systems as we’ve witnessed governments continue to print fiat money across the world. Additionally, consumers have been seeking alternative methods to supplement their income during the weak global macroeconomic environment. As a result, DeFi startups that replace traditional banking functions, using blockchain technology, have experienced exponential growth across the industry. To align and meet this demand, we are consolidating our technology and platforms and unveiling the new Coin network.

The Coin network consists of a series of smart contracts, decentralized exchange, and staking reserve… all powered by the $COIN™ token. All components work seamlessly together to provide the most simple and secure way of managing your digital assets while maximizing the value of the network and $COIN™ token itself.

  • $COIN™ Token
    Central to the Coin ecosystem is 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. $COIN™ 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 Staking Reserve
    A pool used to provide liquidity across Coin Exchange order books and a means to supply funds to compensate long-term stakers of $COIN™.
  • $COIN™ Staking Smart Contract
    The $COIN™ staking smart contract enables users to deposit and earn additional $COIN™ by locking and lending their existing holdings.
  • $COIN™ Governance Smart Contract
    Governance rights are a basic feature of Distributed Autonomous Organizations that entitle holders to influence the direction of the related products and services or basic protocol decisions.
  • Coin Exchange
    Coin Exchange is an all-in-one cross-chain P2P decentralized cryptocurrency wallet, exchange, and assistant powered by atomic swaps and artificial intelligence (AI) technology. Coin Exchange includes an integrated cryptocurrency wallet for users to store popular digital assets such as Bitcoin, Ethereum, ERC20 supported tokens, and more. For exchanging assets, Coin Exchange leverages atomic swap technology using Hash Time Lock contracts to handle direct peer-to-peer trustless transactions. These timed contracts mimic and replace the need for intermediaries, thus, ensuring the most secure method of transferring value, directly, between users. This makes Coin Exchange non-susceptible to hacks as users are the only custodians that can access their funds.

Creating a Liquid Market for $COIN™
When we began our journey, the company deemed $COIN™ a security and registered offerings with the United States Securities and Exchange Commission (CIK# 0001733261). Given the lack of support surrounding cryptocurrencies and its regulations, the company took a proactive stance to protect its token holders and the overall company. Coin also forecasted that other peers in the industry, including exchanges, would follow suit and support legally compliant companies with the appropriate licenses as required by regulating bodies. Unfortunately, many in the industry have yet to adopt these requirements due to costs or lack of clarity from regulators. This has resulted in locking liquidity for the company as exchanges are not legally able to list the $COIN™ token.

Fast forward to today, the company has taken its knowledge, deep analysis of the market, and feedback from community members to create strategies that align with market demands while satisfying the needs of current $COIN™ token holders.

The Coin network is now operational for users to consume with direct use of $COIN™. $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. As a result, the company has decided to convert $COIN™ from a security to a utility token. Thus, unlocking the power of the token itself as well as its liquidity and ability for listings on exchanges across the industry.

Liquidity and volume are standard problems within the blockchain industry. Without both, it becomes inherently difficult to transfer value across peers. We, at Coin, understand that token holders require the utmost liquidity and volume to transfer value and meet their personal financial management goals. Therefore, Coin has developed a short and long-term $COIN™ token liquidity strategy to support these objectives. The strategies include, but are not limited to, a liquidity token offering that will support the creation of liquidity pools, exchange listings, market makers, marketing, and further network development. The offering enables the company to raise funds to execute its strategy to create liquidity and volume for $COIN™. Additionally, expand the Coin community and increase the number of members that can evangelize Coin’s products and services out in the market.

The net result of the liquidity token offering in the short-term will be:

  • Funding to help support the execution of the $COIN™ token liquidity strategy and other company operations such as marketing, engineering, and more
  • Decentralized Liquidity Pools and Exchanges
  • Coin Exchange — Coin will offer the $COIN™ token on its own platform
  • Uniswap — Coin’s liquidity offering with TrustSwap protocol will directly result in the creation of an official Uniswap pool for $COIN™
  • Centralized Liquidity Pools and Exchanges — A portion of the funds raised from Coin’s liquidity offering with TrustSwap will be leveraged for listing on a top tier centralized exchange
  • Market Making — A portion of the funds raised from Coin’s liquidity offering with TrustSwap will be leveraged for professional third-party market-making services to ensure volume and liquidity flow evenly across all channels $COIN™ is available

Longer-term, Coin aims to increase liquidity by continuing to list on compliant centralized and decentralized exchanges. Coin will also look to continue to partner with additional liquidity providers to increase the number of options available for fiat and crypto on/off-ramps.

Execution
The liquidity token offering will commence on November 19th in collaboration with the team at TrustSwap. TrustSwap helps bring together investors and companies to safely invest and raise funds together. By using standardized non-custodial smart contracts with time-lock technology, TrustSwap helps companies raise funds compliantly while reducing the issue of startups exit scams in the industry. Since the Summer of 2020, TrustSwap has been responsible for helping raise millions of dollars for companies such as Aubit, MobiePay, and ChainGames.

The liquidity token offering will be open for 12 hours with a maximum hardcap of 2.4M USDT. Immediately upon the conclusion of the offering, a Uniswap pool will be created and trading can commence, with price information listed on Coinmarketcap and Coingecko. Soon after the offering, the Coin Exchange will be deployed to MainNet for public release and consumption. This includes market pairs for trading $COIN™, the ability for existing token holders to upgrade to the latest version of $COIN™, and the deployment of the $COIN™ staking smart contract to enable staking. Coin will also seek to list on a tier-one centralized exchange and engage a professional 3rd party market-making firm to ensure balanced markets across all channels in which $COIN™ is available. The results of this strategy will unlock liquidity for the token in a very short period of time. More specifically, only a matter of weeks starting today.

Alongside community feedback and market demand, we believe that these strategies best position the company for both short and long-term success. The liquidity strategy coupled with the company’s new direction will form a solid foundation for Coin and the $COIN™ token to build upon for years to come.

To stay up to date, please join us and follow @coindefi on all social media outlets.

  • AMA with TrustSwap: Week of 11/16
  • Public Beta — DEX: 11/16
  • Private Beta and Video Demo of Coin Exchange with AI Integration: 11/18
  • Liquidity Token Offering: 11/19
  • Uniswap Pool Creation: Offering distribution + 72 hours
  • Coin Exchange Launch MainNet: 12/21
  • Coin Staking Launch: 12/21
  • Coin Utility Upgrade: 12/21
  • Centralized Exchange Listing and Market-Making Deployment: Week of 12/21

Why is Coin conducting a token offering?
A token offering enables Coin to execute its token liquidity strategy to unlock liquidity for the $COIN™ token by creating pools on decentralized exchanges, list on centralized exchanges, enable market-marking, and more.

Additionally, enable Coin to continue engineering, marketing, and operational efforts to achieve its milestones. Lastly, expand its community of token holders and supporters to further evangelize Coin products and the $COIN™ token in the industry.

What will the funds be used for?
Coin recognizes that token holders require the utmost liquidity and volume. Over 60% of raised funds are used for creating liquidity of which 45% is locked and used for the creation of a Uniswap pool alone.

Is the TrustSwap offering safe?
TrustSwap has been responsible for helping raise millions of dollars for companies such as Aubit, MobiePay, and ChainGames, since the Summer of 2020. TrustSwap offerings are arguably the safest option for companies and investors to raise funds / invest as tokens are time-locked into smart contracts and prevent rug pulls and exit scams. Investors are protected as tokens are distributed to teams are also over a period of time which prevents dumping upon listings.

What does this mean for existing $COIN™ token holders?
Existing $COIN™ token holders will have the opportunity to upgrade and convert their existing security tokens to the new utility token for use in the Coin network. They will be able to take advantage of increased liquidity, usability, staking, and much more.

Why do we need to upgrade the $COIN™ token?
Previous versions of $COIN should be upgraded in order to take part in the security-to-utility token conversion upgrade. The upgrade also includes new engineering that provides gas savings on transactions in the Coin network as well as minor bug fixes.

What will be the circulating supply following the token liquidity offering?
The total circulating supply will be approximately 44 million tokens. This represents 41% of the total supply of 107,142,857.

Isn’t having the lowest circulating supply possible the best option for token holders?
Not necessarily. Tokens in all networks are intended to create value and offer utility for the network itself. Too low of a supply will signal low usage or creates a dynamic that discourages the use of the network due to price walls. No usage and a network will fail. The circulating supply is a great signal of usage in a network, creates an army of supporters that evangelize the company, and aids in optics for sites such as Coinmarketcap. Finding the right balance of tokens to circulate in the market yields the most optimal results for token holders and usage of the overall network.

Where can I find out more information regarding Coin?

Where can I find out more information regarding the $COIN™ token?
This information can be found in section 3.0 of Coin’s Business Plan/Whitepaper, which is available for viewing on our website at www.coindefi.org. $COIN is trademarked for use only by our company.

Where can I find Coin’s roadmap?
This information can be found in section 7.0 of Coin’s Business Plan/Whitepaper, which is available for viewing on our website at www.coindefi.org.

DeFi made simple.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store