What are the finances and other processes of CoPuppy?
A CoPuppy is an NFT (non-fungible token). What this means is it is one of a kind, unlike fungible tokens which can be interchangeable with other units of the same type. This CoPuppy holds the title "Ethereum CoP - Initial Release". The Ethereum CoP has been created by CoLab and CoPuppy.
What is CoLab?
CoLab stands for Co-Op Lab, a decentralized organization that runs the CoLab Ethereum Community where members collaborate on projects related to open source blockchains, virtual currencies, and other exciting technology even including trying to figure out what makes humans tick. CoPuppy is a "decentralized autonomous organization" (DAO) set on the CoLab Ethereum Community.
The DAOs job is to ensure that CoPuppy and CoLab remain sustainable and community-driven allowing for open collaboration between members of CoLab's CoPuppy community. CoPuppy created this CoP as an NFT to prove that its first mission statement has been accomplished.
CoLab and DAO-NFT
CoLab has been working hard to create a DAO-NFT which will allow CoPuppy to have ownership of CoP and CoLab. Using the CoLab Ethereum Community, CoPuppy will be a "community currency", a form of currency tailored specifically for a community with goals that aim to benefit the community as a whole (for CoLab, this is open-source blockchain projects). CoLab and CoPuppy aim to complete their mission statements by using the CoLab Ethereum Community.
The CoP was created with a minting of zero so it can be distributed in a "merged mining" way if a fork happens in any other crypto project. A CoP is an ERC721 NFT. CoLab aims to introduce CoLab Coin (CLC), CoPuppy's community token that will be required for CoLab members wishing to vote on CoLab proposals. CoLab coins will represent the tokenized votes you hold in CoLab DAO decisions, so it is important that these coins are not minted too often. CoLab coins will be used to vote on CoLab proposals and also provide CoLab members with essential benefits such as - CoPuppy merchandising (t-shirts, hoodies, etc.)
What is the purpose of DAO-NFT?
The DAO now allows users to contribute CP in bulk. Since the casting mechanism doesn't update each moment a CP asset is offered, users will be able to handle their CP resources more effectively.
A meta-universe-cooperative mine will be able to profit from the mining of DAO-30 and DAO-60's corresponding miner pictures.
CoLab Coin Distribution
CoLab Coins will all be created in a single genesis transaction proposal which CoLab CoP members will vote on. CoLab CoPs voting power is weighted by the amount of CoLab Coin(s) each CoLab CoP holds, so CoP members with a higher stake in CLC hold more voting power. CoLab CoPs distribution of CLC follows the below structure. This is just a projected structure. 25% to current and future CoLab CoPs. 25% to current CoLab CoP members. 50% for CoP public sale.
After CoLab is launched, CoLab will start the CLC presale followed by CoLab ICO (Initial Coin Offering). All 100M of CLC that will ever exist will be made available in total during CoP Sale. CoLab CoPs distribution of CLC will be made through CoLab's website (colabco.in). The projected percentage is given here.
10% to pre-ICO CoLab CoP members, with a limit of 300 000 Coins per member. 50% will go to the ICO sale smart contract and locked for 6 months, with a 10% release every month, to be used for CoLab marketing and CoLab operational use. The remaining 40% will go to CoP members as CoP public sale. There is a limit of 300 000 Coins per member. 5% to Development team CoLab CoPs distribution of CLC will be made through CoLab's website (Colabco.in). CoLab CoPs distribution of Coins will be made through CoP TGE smart contract and CoLab CoP website (colabco.in).
CoP public sale will be held on CoLab CoPs website (colabco.in) and CoLab CoP member page. Coins will be distributed directly to CoLab/CoPuppy wallet upon purchase, and they will also display the amount of CLCs you hold in your wallet.
From that, 5% for future CoLab CoP work and another 5% for future CoLab CoP members were thought to be spent. CoLab CoPs public sale will be held on CoLab CoPs website (colabco.in) and CoP TGE smart contract. If the CoLab Community votes in favor of canceling the current ETH Zurich Blockchain grant agreement with DAOstack due to CoLab CoPs CLC model implementation CoLab CoP members will get full reimbursement of CoLab CoP public sale funds, with no CoP member receiving more than 50 ETH.
What will happen to the unsold coins?
Unsold coins in the ICO will be locked for 6 months and then released to CoLab CoPs distribution (CoLab CoPs public sale, CoLab CoP members, CoLab CoPs presale, CoLab CoP members, and CoLab CoPs team).
The current ETH Zurich Blockchain grant agreement with DAOstack is still in place until the end. There are no plans to buy it out before then.
#NFT #BSC #GameFi #Metaverse @BscProjectOrg @gamaestarter_co @PlayToEarnGame @YieldGuild
More About CoPuppy:
Website: https://bsc.copuppy.io
White paper: https://copuppy-1.gitbook.io/copuppy/CoPuppy/copuppy-intro
Med: https://medium.com/copuppy-bsc
Twi: https://twitter.com/CoPuppy_BSC
TeG : https://t.me/copuppy_bsc
Writer Details:
BCT User: blackwell77
Telegram Name: @blackwell77
BCT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2306547;sa=summary
BSC address: 0x1DA0720081ab868605679d7675DF28AAECd8a8a4