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COOP is the native token of cooperative exchange (COOPEX). It is a utility token in that it will be used as a medium of transactions within the exchange.
COOPEX is on the verge of concluding its token generation event ( ie its pre-ICO and ICO). so far, both events have met with fair success. The pre-ICO ran from June 15th through July 1st 2018 with a 50% discount for all purchases. Its ICO was held from July 3rd to August 3rd, 2018.
The total amount of COOP tokens to be created is 12 million COOP. out of these, one million COOP was earmarked for sale during the pre-ICO at the rate of $0.05 per COOP while 10 million COOP were earmarked for sale at the ICO and at the rate of $0.1 per COOP. Of the total amount, one million COOP tokens will be reserved by the exchange for development purposes while another one million COOP will also be reserved for marketing/ promotion of the exchange (including referrals and bounties). The development tokens will be locked up for a period of six months while the marketing tokens will be available immediately after the ICO though with gradual release.
The hardcap at the TGE is placed at $950,000, while the soft cap is $500,000.
COOPEX is presently in an extended phase of its ICO being unable to quite meet its set soft cap. This extension will last for about a week after which the exchange will commence full operation. All unsold tokens after the event will be burnt.
75% of revenues generated from trades on the exchange will be used to buy back the COOP tokens on monthly basis and burn them to help strengthen its value.
Capital Utilization/ Revenue Model
The funds realized during the token generation events would be used for marketing and for development of the exchange.
25% of all trading fees generated on the platform will be used to supplement the ICO funds to enable the exchange develop, market and maintain itself continuously. The remaining 75% of all revenues from trading will be used for the monthly buyback program.
COOPEX ROADMAP
April 2018 ------- COOPEX founded, team formed,
May/June -------- development ofr the backend of the exchange
June ------- whitepaper completed, front end development of the exchange completed, beta mode open for testing
June 18 2018 ------- pre-ICO begins
July 1 -------- pre-ICO ends
July 3rd ------- ICO begins
July ------- marketing campaigns begin, COOPEX API developed,
August 3rd ------- ICO ends
August -------- Coopex begins operation, front end User Interface improved; market making solutions introduced; margin trading introduced.
September 2018 ------- COOPDEX ( cooperative decentralized exchange) development completed
4th quter, 2018 -------- OTC trading and liquidity desk opened.
The COOPEX API mentioned in the roadmap will allow other developers to build tools on top of our exchange.
COOPEX TEAM
The team behind the cooperative exchange is made up of the following persons:
Jonathan Downing ----- Founder/ CEO
Alan Orwick ----- CTO
Nemanja Lazic ----- Front-end Developer (Trading UI)
Moch ‘Uzi’ Lutfi ----- Front/Back-end Developer
Manu Sharma ----- Front-end Developer
COOPEX will be fully launched sometime this month, August, 2018.
You can learn more about the project by visiting their website here: https://coopex.market/
And read their whitepaper here: https://coopex.market/Coopex_Whitepaper.pdf
Follow them on
facebook: https://www.facebook.com/coopexmarket/
Twitter: https://twitter.com/coopexmarket
Join their telegram: https://t.me/coopexmarket
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