How It Works Thread

How does $COQBOX actually work? 🐔

In the following thread, I'll be breaking down the logic behind #CoqInABox and how you as a holder benefits from more than a generic rewards token.

The basics.

$COQBOX is a DN404 token which not only is a rewards token at heart that rewards users in $COQ by simply staking on our dApp but is also hyperdeflationary - Every time you trade $COQBOX 1% of that supply is burnt permanently, forever. The other taxes are split into the rewards for the $COQ staking at 5% and 1% directly to the auto-liquidity injections which are burnt and untouchable, the final 1% is used for Marketing, Development and providing utility to our holders.

Every 1 $COQBOX is tied to 1 NFT, these NFT's all have different rarity which signify different features and attributes to the NFT, the lower the rarity of the NFT the less perks HOWEVER, each NFT matter MASSIVELY - If you're a holder of a "Metal based" NFT such as Silver, Gold or Diamond you'll eventually be airdropped/provided with a NFT which allows you to enter our DAO (More to come)

The NFT's are low-quality pre-reveal but will have significant upgrades post reveal in regards to art work.

Staking and how it works.

Staking for $COQ is really simple, there is a 0.1 $AVAX fee to enter the pool and a 0.1 $AVAX fee to exit the pool and a 0.1 $AVAX fee to claim your yield, we introduced these fees a revenue model for the project, even on low volume days we are able to build by people claiming their yield.

In Hindsight, these fees are tiny in comparison to the rewards received in the pool and entice users to keep stacking up their $COQ, as we do not have limitations on staking such as time locks or vesting, we believe having small $3-4 fees will not only help build the utility for people who are staking long term, but also be able to build within the space.

Once you're staking your $COQ yield generates through volume, in a case study on a team members bag with 146 $COQBOX at a current value of 15 AVAX they earned 279,000,000 $COQ at a value of around 12 AVAX when yielded. This team member paid their 0.1 AVAX withdrawal fee to claim 150x that in rewards - Bare in mind the initial value of the $COQBOX wasn't a "whale status" either within $30k of volume. This just goes to show, this isn't only for whales, it's for everyone - and with the supply of Coqbox constantly dropping due to tokenomics, your share will only get bigger.