COG is a ERC-20 protocol token which can be directly traded in the Ethereum network. The form of a token will be set to utility token structure. The token will be treated as a payment currency inside the Cogenero platform allowing owners to buy services within the company’s offering. Because of the ERC-20 standards and all the stages the COG token will go through its construction will be set to control the total supply on the market. The protocols included in the token construction will allow us to decrease the number of tokens on the market by burning them when used inside the system.
To pay with the COG utility token a user will have to make a transfer to a generated user account on the Cogenero platform. When payment is received, payment will be converted to points inside the system and points can be used to but services. The number of acquired points will be connected with price of the token on presented exchanges.
Cogenero will provide information on which exchanges it supports. The Cogenero blockchain platform will analyze the current situation on the market according to price and set the conversion rate between points and currency to specific situation. A lower number of tokens on the market will increase its value and make mom services available for lower amount of COG.
To protect the interest of all COG owners the token contract will provide a system that will control the token distribution and trading possibilities when the ICO campaign and product development takes place. At first all tokens sold during the ICO campaign will be locked until the date of releasing the transfer, which will be connected with Cogenero COG coin introduction to major exchanges. We provide the lockup protocols to not interrupt the crowdsale with trading outside the system.
Besides lockup Cogenero token will use a whitelisting method which will define if the owner is verified and eligible for trading possibilities. COG token will be introduced to major exchanges and to make it happen the company needs to pursue the KYC and AML checking of the token owner.
Cogenero will provide a system that verifies token owners and when completed will release the transfer of tokens by saying information about owner verification inside the whitelist.
To improve the token, COG will also include the construction of the Lockup List which will define which addresses can use trading options and when. This will be used for founders and advisors to protect the market from trading options from the founders before they will reach specific milestones in the development plan.
Ethereum is an open software platform based on blockchain technology that enables developers to build and deploy decentralized applications, as opposed to a distributed public blockchain network. Although them are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability. After a token has been created, it can be traded, spent, or given to someone else.