Cobweb finance is going to offer its governing token COB.
COB will act as the core utility token of all Cobweb finance products, including exchange, accros-chain assets management, staking, as well as governance procedures. For investment particularly, there will be a liquidity mining program rewarding users with COB for deploying investment plans.
As Cobweb finance continues to innovate in the Defi field and build more Cobweb products, COB holders will be able to propose and decide upon key protocol parameters to all Cobweb products and how the products interoperate. COB token will continue to be the primary tool to align incentives of community builders and supporters, creating a strong community of Defi enthusiasts who will collectively help Cobweb ecosystem forward.
At the initial stage of our project, COB is offered to help us get funds for further development, it will also be used to incentivize early participants giving them a voice in the ongoing development of our products.
Token data
Total supply: 31500
presale 70% = 22050 COB
To be used in LGE 20% = 6300 COB
Marketing and promotion 5% = 1575 COB
Team 5% = 1575 COB (lock for 1 year)
Presale of COB will start from 2020.Nov.15 UTC 0:00, there are 2 phases:
phase 1: 2020.Nov.15 UTC 0:00 ~ 2020.Nov.16 UTC 0:00, in this phase the purchase price is 1ETH=20COB, min purchase 0.1ETH
phase 2: 2020.Nov.16 UTC 0:00 ~ 2020.Nov.21 UTC 0:00, in this phase the purchase price is 1ETH=15 COB, min purchase 0.1ETH
That means joining in presale at its first day get best price.
Unsold COBs will be burned.
Listing and LGE(LP generate event)
COB will be listed on Uniswap within 48 hours after presale ends, we will add initial COB/ETH pair liquidity by using 57% of the ETH we get from presale, that is to make initial price 1ETH=10COB.
We will not announce exact time of LGE, since we do not like some coders use script to buy faster than normal users. LGE will happen at a random time point but still within 48 hours after presale ends.
Buyback plan
We will use the other 43% of the ETH we get from presale to buy back COB in batches once COB price drops per 10%. In this way we can guarantee early participators to get profits.
If you have more questions, join in our Telegram to ask.
https://t.me/cobwebfinance
