This following is an executive summary of our business plan and whitepaper. We encourage you to read it for full detail regarding Coin and our future endeavors.
Our goal is to execute our plan and build value for our brand, constituents, customers, and the community.
The advent of DeFi tech has reimagined financial services that are disintermediated, peer-to-peer, and censorship-resistant. Open financial systems unlock a new chapter in finance which is open, inclusive, and efficient. In the crypto space, there are many exciting and fast-growing developments in borrowing and lending, liquidity and yield services, and decentralized exchanges.
In this context, Coin intends to become a premier technology and financial services company focused on the next generation of consumers and asset classes in the crypto world. We aim to create a global digital decentralized network with a specialization in the transfer of digital assets. Our portfolio of value-added products and services empowers consumers in their financial and investment executions, in a supportive Coin ecosystem consisting of token buyers, users, financial institutions, partners, token sellers, etc.
The $COIN™ protocol and token are the two central elements of the Coin ecosystem. Built on Ethereum, the $COIN™ protocol provides the performance, scalability, and supportability necessary for all applications and blockchain-related use cases. On the other hand, the $COIN™ token is a primary means of exchange used to pay for the execution of smart contracts, and for compensation to liquidity providers and stakers in the Coin ecosystem. It acts as a network access token which will enable holders to execute Coin smart contracts, stake interest, execute governance rights, and more.
The Coin ecosystem contains smart contracts such as a staking smart contract that enables users to deposit and earn additional COIN by locking and lending their existing holdings. COIN also deploys a governance smart contract that enables token holders to vote on the company and community-related decisions, including protocol upgrades, features, exchange listings, and more.
Last but not least, the Coin ecosystem offers the Coin Exchange, an all-in-one cross-chain P2P decentralized cryptocurrency wallet, exchange, and assistant powered by atomic swaps and artificial intelligence (AI) technology. Supporting popular digital assets such as Bitcoin, Ethereum, and ERC20 tokens, Coin Exchange leverages atomic swap technology using Hash Time Lock contracts to handle direct P2P trustless transactions. By using emerging technology, these timed contracts mimic and replace the need for custodians, middlemen, and escrow agents. Coin Exchange also includes browser extension and AI technology to execute transactions faster and provide insights to help users save time and money.
To resolve the standard liquidity problem in the blockchain industry, COIN has teamed with Coinbase to leverage their order books to help execute trades that are related to each other. This is achieved by utilizing a matching algorithm between Coin and Coinbase order books in order to aid in providing liquidity in both markets. This encourages platform liquidity, volume, and fee revenue that is then used for COIN buyback programs and re-deposited back into the pool.
Coin adopts a sustainable revenue model, deriving fees from exchange listings and order execution. Half of the revenue is distributed to liquidity providers and makers which contribute to the ecosystem, which drives ecosystem expansion. The rest is used for $COIN™ buybacks to replenish the liquidity and staking reserves and drive demand interest.
Coin is a full-time commitment with a long-term roadmap extending till the end of 2021 and beyond, including network deployment, 3rd party wallet support, liquidity, and developer programs. We pride ourselves on being the only exchange, on the market, that is completely decentralized, non-custodial, cross-chain, with transactions on-chain, plus other unique features. We have a global marketing and advertising strategy to extend our brand, develop communities, and build customer loyalty.
COIN prides itself with a global team of technology veterans and an engineering-first mentality. Founder and CEO Damon Nam is a 16-year alumni of Microsoft, and has over 20 years of experience in the technology industry. Chief Technology Officer Byron Levels has 23 years of experience in technology, 8 years of which were spent at Microsoft. COIN has also assembled a team of notable advisors to help supplement the company in key areas of expertise, including blockchain, artificial intelligence (AI), and media and marketing. This includes Christina Apatow (Founder and CEO of FetchyFox), Pete Cashmore (Founder of news source Mashable), Alex Mashinsky (Founder and CEO of Celsius Network), and Jeremy Gardner (co-founder of Augur).
In summary, the Coin ecosystem seeks to create an open financial system composed of decentralized solutions that empower customers to execute financial transactions with freedom and simplicity. As DeFi technology evolves, we will always be forward-thinking and proactively building the future of financial services.
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