COPE is a next-level interactive Leaderboard-Ecosystem on Solana blockchain. What this basically means is that Cope offers an ecosystem of multiple tools that helps traders and regular cryptocurrency users make trading decisions based on the information received from these Leaderboard tools available.
With three main products at the core of COPE – the COPE Leaderboard, the COPE Index and the COPE Trading Pools. These products make use of the Solana blockchain and integrate with its ecosystem. As written in the project’s whitepaper, “The COPE Leaderboard allows us to catalog and understand the skills of the most effective investment minds in the community. The COPE Index allows the Community to harness and invest in those minds. The COPE Trading Pools will allow Community members to select call makers with the most effective performance.”
COPE aims to build an index through which people who actively trade in the cryptocurrency space are ranked based on real time calls made through social platforms (like Twitter for example). The higher you are ranked on the Leaderboard, the more rewards you have the chance of earning through Cope so that those making the right calls are being heavily incentivized.
What is a “Call”?
A cryptocurrency call is an instruction or a set of instructions given by a trader to other traders which provides information on which cryptocurrency they should buy or which one they should sell and how the buying or selling should be carried out to manage risks.
The COPE Leaderboard will rank call makers based on the accuracy of their calls. As described in the whitepaper, call makers who survive bi-weekly COPE Leaderboard reformation will be awarded COPE tokens. These emissions will occur on the following basis:
- Every 2 weeks, the top 100 call makers will be grouped across a COPE Performance Zone spectrum.
- The call makers COPE Score will determine which zone they go into.
- The default starting COPE Score for all call makers is 400.
- The maximum COPE Score is 1000.
- The COPE Score value will be impacted positively or negatively by the following variables:
i. Size of the call makers audience
ii. 24 hour trading volume delta for the market on the day of the call
iii. Timeframe – The engine will use the call makers previous calls to classify the timeframe they typically use in their calls. iv. The calls ROI – based on the classified timeframe, direction and the markets price delta over the timeframe.
(The processes above are described in the Whitepaper.)
The COPE Index uses a quantitative view of the current market liquidity and uses the weightings that has been established on the COPE Leaderboard call makers. This index consists of a constituent eligibility criteria and Index price calculation. The Index will rebalance based on the predictions made by call makers.
Once a satisfactory number of COPE Leaderboard reformations have occurred, 20 tokens will be considered for listing in the COPE Index. The maximum number of constituents can be reviewed by the community over time. A token must meet the following eligibility criteria to become a constituent of the index:
- An average market cap over the last 30 days (e.g. > $200mln)
- A daily trading volume over last 30 days (e.g. > $5m)
The token has a USDC trading pair on the Solana Serum Dex (The community can vote to add additional Dex’s and/or Cex’s ).
Cope tokens ($COPE) had an initial circulating supply of 1,000,000,000 COPE. A decision made by the members of the Cope community agreed with the burning of 95% of the total supply of COPE. This was termed as the “Burn Ceremony” and it is still commonly referred to as that in the Solana ecosystem. This Burn Ceremony left about 50,000,000 tokens as the total supply of COPE available while there are currently 19,360,000 tokens in circulation (as at the time of this writing) and over 90% of these tokens are distributed within the community.
The COPE Airdrop Drop
When COPE was launched officially, there was a community-wide airdrop whereby 5,000 Solana wallet addresses were given 2,000 COPE tokens each. This was one of the earliest airdrops distributed in the Solana ecosystem that was worth something good for the holders.
COPE is listed on FTX, Serum DEX and many other exchanges and decentralized applications. The COPE-USDC AMM pool is available on Raydium and other Automatic Market Makers applications so that users can easily swap their COPE or stake them.
COPE Burn Model
The COPE burn model will be exercised through the use of some of the tools and services that has already been developed and in use and some will be released soon. Some of these products are listed below:
- SPL Token Distributor
- COPE Call Reports
- Market Reports
- Serum Dex Analytics
- COPE Merchandise
- COPE Limited Merchandise
Whenever people interact with these tools in the Cope Leaderboard Ecosystem, the fee used in their transactions are paid with COPE tokens. These COPE tokens paid are then burnt from the circulating supply.
Cope Shodown Game
Under the niche called “PlayFi”, where a user deposits COPE tokens to play and to earn while playing, the Cope Team also released a game for their community. The tokens used to play by users are also included in the burn mechanism of COPE tokens. Click on the link below to play the game. (Please note: You can only play this game if you own the COPE token).
Members of the COPE Community, popularly called the “Cope Gang” on social platforms like Twitter and Discord are known to be committed members to the Cope project. Because of this doggedness, newer projects willing to associate with the Cope holders regularly delegate a percentage of their tokens to them. It is not strange to see projects announcing their airdrop distribution rounds to COPE holders. An example of Solana projects that airdropped their tokens to COPE holders are: Boring Protocol and LIQ Protocol.
Community Governance Roadmap
These are some of the parts where Community members of the Cope Ecosystem can participate in the active development of the ecosystem tools.
- Automated Token Distribution
- Voting Infrastructure
- Product Roadmap governance
Bulk Distributor: https://bulkspldistributor.com/