Coil (COIL)

$95,837  --
$0.853843  0%
0.00031166 ETH 0%
Market Cap:
Rank #10


Market Cap
24h Low / 24h High
Fully Diluted Valuation
Price Peg
24 Hour Trading Vol
Circulating Supply
215,549 / 318,445
Max Supply
Next Rebase

Coil Chart
Rebase Function:
The COIL rebase system is designed to rebase itself every 23 hours. Some may ask why
the 23 hour timeframe was implemented over the common 24 hour mechanism, or why
not random? We discussed all of these ideas; however, we came to the conclusion that
our method is the fairest way that will appeal to the most users. Our method ensures that
token holders in a certain time zone are not always receiving a rebase at 3 AM when
part of the world is sleeping. This allows all parts of the world to rotate in experiencing a
rebase in their peak hours. Thus, allowing a fair opportunity of trading and arbitrage for
all time zones. Each day the rebase time in your time zone will be one hour earlier than
the previous day. i.e. Today’s distribution may be at 3 UTC, but tomorrow's will be at 2
UTC, and so forth. We believe our 23 hour system gives exchanges and traders the
predictability they need while also ensuring an equal opportunity no matter their
geographical location.
As mentioned above, we also discussed a random rebase. However, this really was not
much of a consideration. Although it may sound good, we believe this is flawed for a few
reasons. Firstly, the main benefit of this is to stop whales from manipulating the market.
On paper sounds great, but when you dig a bit deeper you find the flaws. The issue with
whales is not the predictability, but rather the fair and equitable distribution at the onset.
This is why COIL is capping all public release tokens per address to a max of 100 ETH.
This solidifies our launch being more fair and decentralized, and puts COIL in the hands
of more users in a more equally distributed manner. Sure, we could have raised more
money not doing this, but we are building COIL to succeed in the long term, and our main
goal is to make it as fair and decentralized as possible, which will in turn build a stronger
stable base. If someone wants to buy in and become a huge COIL whale, they have to
purchase and build their holdings on the open market. Another issue with the random
rebase idea is whoever sits by their computer all day can wait for the rebase to come in
and buy or sell immediately. Bots can still be programmed to watch addresses and when
they detect a change, buy or sell. So, are you really even accomplishing anything with
this random rebase idea? We think not. Let's dig a bit deeper. What if someone is able
to figure out the random rebase function and can exploit it? This could potentially open
up the project to another possible attack vector.
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We believe in being 100% transparent. This means with our code, with our distribution,
and with our ideas. We actually think the predictability is necessary because it allows
COIL to appeal to every single type of token holder: short term traders, long term traders,
yield farmers, arbitrageurs, etc. COIL is built to appeal to the masses. A random rebase
function alienates some of these DeFi users, arbitrageurs, and short term traders. Not to
mention, also making it harder to use as DeFi collateral. For long term success this is
not ideal; you need to appeal to every single type of token holder. Part of what makes
Bitcoin valuable is its predictability. You can know what the max supply will be, and even
closely calculate how many Bitcoin there will be on each day. COIL is built dynamic, fair,
predictable, decentralized, and for all!

Last Update: 2022-01-30 03:59:26 UTC


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