Coin Integrates TrustSwap for Liquidity Token Offering

Fintech startup Coin announced that they will integrate TrustSwap to assist in the execution of their liquidity token offering.

The interest in decentralized finance (DeFi) and open systems has risen dramatically in 2020. Coin is working to meet this increased demand, and executing a liquidity token offering (with the aid of TrustSwap) is one of the ways it is doing so. Additionally, the liquid token offering will be made available through the development and deployment of the new Coin Exchange, which is part and parcel of the Coin network.

About the Coin Exchange

The Coin Exchange is an all-in-one peer-to-peer (P2P) decentralized exchange. It is built with artificial intelligence (AI) technology and atomic swap. This exchange aims to create a smooth relationship between wallets and cryptocurrency exchanges. Such a relationship can be created through the provision of easy and secure digital asset management for mainstream crypto enthusiasts and consumers.

The Coin Exchange will integrate a cryptocurrency wallet that users will use to store popular digital assets. Such assets include Bitcoin, tokens supported by ERC-20, Ethereum, and many more. Coin Exchange will also leverage on atomic swap technology for exchanging assets. Hash Time Lock contracts will be used to manage direct peer-to-peer trustless transactions. By leveraging on emerging technology, timed contracts will be used to replace middlemen, custodians, and escrow agents.

Damon Nam, founder and CEO of Coin, points out, “By leveraging emerging technology, we are placing the power back into the hands of the people, and empowering consumers to manage their wealth with an innovative digital assets experience that is simple, secure, and personalized.”

The Coin Exchange also includes support for browser extensions, such as Safari and Google Chrome. An interesting feature is that Coin Exchange has an assistant that can recognize blockchain-related words on webpages. The result is that this allows Coin to offer pricing info, provide education, and help users execute transactions from any webpage by just using an input field.

How Will the Coin Liquidity Token Offering Take Place?

To carry out the Liquidity Token Offering, Coin will leverage on the TrustSwap Launchpad. Once the offering is concluded, a Uniswap pool will be developed. As a result, the use of $COIN for exchanging can begin within the Coin network. As the offering is taking place, the Coin Exchange will also be deployed to mainnet, denoting that the exchange is now available for public release and consumption.

When the Coin Exchange has been made available to the general public, deployment of $COIN staking, market pairs for exchanging $COIN, and governance smart contracts will take place. This strategy aims to unlock the liquidity for the $COIN token. Once it is unlocked, users in the Coin network will gain more access to acquire the token for use.

Why TrustSwap?

Coin is making use of TrustSwap due to its technology that provides simple and secure peer-to-peer transactions through TrustSwap SmartLaunch. This technology will make sure that Coin can securely transact and interact with its participants. Through TrustSwap’s technology, the Coin network will be certain that team members and participants can make secure transactions and not impact the markets negatively after the public offering.

In addition, TrustSwap will be used by Coin for liquidity locks, team token vesting, and token holder vesting. As long as anyone can meet certain guidelines, they can participate in the COIN token offering. If the COIN token offering raises over $2.4 million, anyone that holds or stakes above 2,000 SWAP will be given priority entry. Such a person can then be eligible for twice the individual max-cap allocation.

Guidelines for Participation in the Token Offering

The token offering will take place on the 19th of November at 9:00 am PST. At that time, all eligible participants are to head on over to http://launchpad.trustswap.org/. Once it opens, follow the guidelines provided and upload all the required credentials. This portal will be open for only twelve hours.

When the twelve hours elapse, the portal will be closed. After that, participants are to wait for up to 48 hours to ensure that the internal processes are finalized by the Coin team. Successful applicants will receive an email that will indicate how much they are eligible to contribute to the token offering. The window to send the funds is 24 hours, and failure to do so may lead to forfeiture of position.

Before now, one of the leading crypto payment service providers, Crypto.com, introduced two brand new features to its user-custodial DeFi wallet.

For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.

(Excerpt) Read more Here | 2020-11-12 03:04:35
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