You've probably heard of Solana, the high speed blockchain which is quickly gathering new users and has tons of projects building on top of it. One such project is COPE , which aims to reward traders for making good calls.
Introducing COPE
COPE is a token project built on Solana which aims to create an ecosystem where users get rewarded for making good trades.
Winners of the Solana x Serum Defi Hackathon
COPE won the Solana x Serum Defi Hackathon under the category of Community Choice Prize developed by Cyrii.
The road ahead......
Phase 1
Phase 1 involves evaluating thousands of traders based on their performance.The traders will be given a COPE score and assigned a place in the leaderboard. Out of the few thousands , only 100 will make it to the Top 100 Index. The most consistently performing traders are filtered and will end up on the list.
Users can apply to become part of the COPE Index and once they get in, each user will receive a share of the COPE emissions every 2 weeks based on their performance.
The COPE Engine
The COPE Engine is responsible for tracking traders' calls on Twitter and will give a COPE score to each trader. It will also generate reports on the performance of these traders which will allow users to take better decisions on which trader to follow.
Airdrop
COPE tokens are gonna be airdropped to the Community on Discord. Details on Tokenomics and Supply will be mentioned in future blog posts.
COPE Staking
Users will be able to stake their COPE tokens and in return they will receive LP-COPE tokens which can be used to Unlock COPE Reports which will be generated by the COPE Engine based on statistical analysis.
Phase 2
The COPE team will develop an Automatic Investment Product which allow users to autonomously mimic the positions of the traders of their choice. Phase 2 also involves integrating the Serum DEX which is the top DEX on Solana.This will enable CLOB (Central Limit Order Book) trading capabilities. Users will be able to select Trading Strategies which are based on smart contracts.
Cross-Chain
COPE ultimately wants to go cross-chain with Ethereum. Initially , all the supply of COPE will be on Solana and when the time is right , a part of the supply will be burnt and minted on Ethereum.This will allow users to get COPE reports from trades performed on Ethereum DEXes such as Uniswap , Sushiswap and 1Inch.
If you liked my article , be sure to tip me and stay tuned for more updates on COPE.
My solana address: GgeE65NssrjeQo2oh9sd5mjjyGNSaxvjMhRmCdQzn769
