Jamie McNeill
The Copium Protocol specialises in building the infrastructure for decentralised mining investments and will be releasing an NFT collection in order to raise further capital for expanding their mining operation.
The Copium Protocol Investor Pass
The Copium Protocol investor pass will be a special NFT collection, the proceeds from which are to be used to further expand Copium’s preexisting mining operations in New Zealand.
The goal for the project is to build an ecosystem that allows holders of the investor pass NFTs and the Copium Coin token to benefit from the company’s Bitcoin mining activities.
The highly deflationary Copium Coin
At the same time as Copium are selling their NFTs, they will also be conducting a presale for Copium Coin, which is an ERC20 token and will “operate as the foundation of the Copium ecosystem“.
A portion of revenues that are generated from the mining facility are to be used to buy back and burn the token, in order to ensure that there is always constant buy pressure and that the token price appreciates accordingly.
The tokenomics for the protocol are such that of the one billion total tokens, 10% are to be allocated to holders of investor passes, 7.3% for staking rewards to investor pass holders, 10% the founders, 10% to the development fund, 5% will be sold at presale, 3% will be added to liquidity and 0.7% will be allocated to the project team. The remaining 54% of tokens have yet to be allocated.
By regularly buying and burning the token, the company hopes that the token will be highly deflationary.
Copium staking platform
Following the successful launches of both the Investor Pass and token, the project will be rolling out its staking programme.
The staking programme will allow people to lock up their Copium Coin holdings for a predetermined period of time in exchange for a yield. Those who lock up their tokens for longer will receive a higher APR on their stake.
Benefits for investor pass holders
Aside from receiving an allocation of Copium Coin via airdrop, investor pass holders will also be entitled to a range of other benefits.
Every pass holder will be airdropped 10,000 tokens per NFT that they hold and will be able to stake these tokens at exclusive rates – those who do not own investor passes will not be able to receive the same, boosted, APR for their contribution to the staking programme.
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This article was written for Business 2 Community by Jamie McNeill.
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