Enter Cowboy.Finance — Building on YAM, XAMP, TOB, @burn_the_state and tokenmetrics!
Yo I’d like to introduce everyone to Cowboy.finance, building on https://twitter.com/burn_the_state Billy ‘The Kid’ Drummond’s smashing success with Tokens of Babel and Antiample.
Why is this such a fantastic idea?
I was literally on the team for ChronoLogic a long, long time ago when they raised a significant amount of millions in crowdsale — in like 2017? Mid-way 2017?
The entire value proposition was that the initial hodlers of their token — ICO contributors — held a special address that was crazy expensive to sell. These initial addresses, each day, would mint new tokens proportional to the total amount of tokens held on those addresses. Over time, the rate at which new tokens were minted on these mintable addresses reduced — giving an illusion of scarcity to people minting tokens.
The experiment was sufficiently obscure to win the favor of countless contributors and — although their initial deploy of the code was incorrect, warranting a second deploy (whoops) — lots and lots of capital in sweet, sweet crypto.
What does https://cowboy.network replicate here? Every day, 10% of those people hodling COWs (ie. that haven’t traded them away since the last snapshot) are chosen at random, and they’re distributed some of the COW tokens reserved for ‘breeding.’ After the first 30 days (GET IN EARLY!) this rate halves every week (giving scarcity..). On top of that, they’ve learned lessons from Tokens of Babel and the ‘bandits’ run off with 1% of the supply for the first two weeks. After that, it’ll only happen if the daily price has met a new ATH.
This is incredibly genius, in the game theory sense of the mechanics and tokenmetrics. Seriously, I know a lot about it.
Follow this project.. get in early.. .reap the rewards, young farmers. Be COWboys!
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