I would like to introduce you to COIL. It is a similar concept to AMPL with a few tweaks like a 23hr rebase to make it so all parts of the work can experience a rebase in their peak time, and more of the supply is distributed to the community with no large investors or VC money whales, so whales wont control this from the outset. Coil also have a unique incentive for liquidity in our Spring that will not only incentivize liquidity to stay there, but also become more predictable.
What is COIL?
COIL was redesigned to solve market manipulation and appeal to all. The supply of COIL tokens “coil and recoil,” adjusting to the supply and demand of the market.
COIL is not a stable coin, it is an elastic supply cryptocurrency with a built-in 23 hour rebase mechanism. COIL’s target is the 2020 USD adjusted for CPI Inflation. It is designed to rebase every 23 hours and self-regulate to keep in-line with current supply and demand, all done via Smart Contracts.
When the price is over $1.061 Coil automatically increases supply and distributes it to all addresses. When the price is under $0.961 Coil automatically decreases supply of all addresses. This is designed to create buying and selling pressure to push COIL back to its target price. The rebase formula is ((Oracle price — Target Price ) / (Target Price)) * 10 = Rebase %.
What is important to note about COIL is that it is also non-dilutive. If you buy into the COIL network, and never buy or sell and just hold, your share of the network will never change. You may have more or less coins, but your % share of the supply and market cap will not change.
Coil Spring
Coil Spring incentivize liquidity on Uniswap by paying out rewards from the Liquidity fund. What is super interesting in the COIL : the COIL spring. Ampl rewards you with X longer time in gesyer. The issue is if you are 1.1 or 1.2x in ampl, who cares if you sacrifice those benefits if price is dropping you are not incentivized to hold liquidity there.
Coil Spring incentivize liquidity on Uniswap by paying out rewards from the Liquidity fund.
There will be more details on this in the coming weeks, We are excited for the cryptocurrency world to meet and embrace COIL. Cryptocurrency and DeFi is in its infancy, and growing every day. In fact, we believe the space is growing so quickly more and more use cases will pop up for COIL that have not even been thought of or discovered yet
For more details join discord: https://discord.gg/3UrSqbg or visit the website: https://coilcrypto.com
Resources
- https://coilcrypto.com/
