• Current Price $0.00000000
  • Stay Updated

Foundational Phase

Background

After weeks of anticipation, CoviCoin is finally launched on Pancakeswap! There were several key changes along the way, one of which being the postponement of the presale from 9 September to sometime in October or November when the team meets in Tokyo.

As much as we wanted to stick to the plan, several crucial factors were in play such as the strict demands of the Project X framework and constant attempts by some to take advantage of the presale confusion. As a result, we made the decision to move ahead with a soft launch on 19 September with just 9% of supply. The rest are either locked away for the primary launch, or burned for good.

This is a prelude to a primary launch in 2022, in time for the rollout of CoviHub. Till then, we will be embarking on a foundational phase that will provide CoviCoin a firm base for the future. It will focus on 2 primary objectives:

  • Stabalizing the price of CoviCoin
  • Encouraging long term investment

Tokenomics

Of the initial supply, 77.4% are currently locked away, 10.6% burnt, 1% allocated to airdrop events and 2% allocated to the dev wallet. The remaining 9% are currently circulating. Liquidity pool tokens have also been locked away for a period of 30 years, till 1 October 2051.

You can view the locked tokens and liquidity pool at the following links:

The smart contract has also been audited by Techrate, the audit report can be viewed here.

A key focus of transaction fee at this point will be to passively reward holders and increase the size of the liquidity pool - an aspect that a non-presale launch sacrificed upon. For every sell, 9% will go to automatically expanding the liquidity pool.

Initiatives

Due to the volatility of a soft launch, initiatives will be delayed slightly to allow the currency some time to stabilise. We will start distributing airdrop rewards from 26 September, and start taking a charity fee to reward frontliners from 1 October.

We appreciate the support we have received till this point, and look forward to jointly building CoviCoin into a globally recognised and adopted currency for global healthcare!