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COQ Review: A Token that Looks to Make Crypto Investors BNB-Wealthy Forever

The continued legitimization of digital currency and the wider acceptance of crypto as legal tender has spurred the global cryptocurrency market. There has been a marked increase in both the uptake of digital assets and the development of decentralized finance (DeFi) products.

DeFi is a blockchain-based form of finance that cuts out traditional intermediaries like banks, brokerages, and exchanges; instead, it uses smart contracts built on blockchains like Ethereum and Binance Smart Chain (BSC) to offer fiscal instruments.

COQ is a DeFi and Binance Coin (BNB) reflection token, incorporating an auto-claim feature and dynamic taxation and dividends. This means that, unlike other crypto assets in the market, the COQ community can vote on the tax and dividends of the COQ token. A BNB reflection token basically collects a fixed fee on every transaction and uses smart contracts to ‘reflect’ back a portion of those fees into the wallets of its holders.

The $COQ Token

In the case of COQ, holders will be able to earn BNB every hour, forever, by merely having a positive COQ balance in their wallets. The token’s yield-generating contract works on a static incentive structure that divides 15% of each transaction into two parts:

  • 10% goes to token holders.
  • 5% is goes back into the project.

COQ users will see their BNB balance in the same wallet where they are holding their COQ tokens.

The COQ system is completely automatic. Also, it focuses on fair distribution of dividends. The smart contract examines a user’s withdrawable dividend balance. For example, if it exceeds the minimum level for auto-claims, the system automatically claims the dividends for BNB. Alternatively, it may purchase the user’s tokens.

The transaction amount determines the number of holders in each transaction. Also, holders receive dividends according to their position in an automatically-generated queue.

Features of the COQ Token

In a bid to make COQ the ultimate passive earning tool, the team behind it built it with the following features:

Community Controlled

The COQ token is the only one that allows its community to vote on taxation and dividends. Based on market sentiments or pool goals, COQ holders can vote to either increase or decrease both taxation and dividend rates.

Full DeFi and Trading Mechanisms

The COQ token should help DeFi and trading protocols against the aggressive production of BNB. This production will focus around four areas:

  • An internal auto trading system (ATS).
  • A staking and lending protocol, the COQFarm.
  • Decentralized Exchange (DEX) transactions via COQSwap.
  • Centralized Exchange transactions on platforms such as Gate.io, KuCoin, Binance, and Kraken.

BNB Passive Income

According to the protocol’s whitepaper, 10% of all transactions will go back to COQ holders in BNB. However, to benefit from this passive income, investors will need to hold a minimum of 10 million COQ in their wallets.

Long-Term Promotion, Liquidity, and Burn  

While COQ holders enjoy 10% of all transactions, a further 5% will go back into the project’s development. The protocol will distribute the 5% as follows:

  • 1% will reach the liquidity pool to help combat dips and stabilize the COQ price.
  • 1% will burn permanently. This will increase the scarcity of the COQ token and subsequently increase its value.
  • 2% will reach the global promotion of COQ and for a rewards and giveaway scheme for community members. COQ will need exhaustive marketing and promotion for the next few years to stay profitable and relevant for as long as possible.
  • The protocol will use the remaining 1% for various other activities like buybacks or charity. This will depend on how the COQ community votes.

Vesting, Anti-Dumping, and Anti-Whale Protection

In a bid to reduce arbitrage, swing trading and whale dumps, COQ sales will be limited to 0.1% of the total supply. Besides, an extra 2% selling fee will also be applied to all transactions. Further, the maximum amount of COQ a wallet can hold has been capped at no more than 1% of the total supply.

These measures should ensure that no single investor holds enough COQ tokens. This way, no one will manipulate the market or cause price volatility.

Tokenomics

The COQ token has a total supply of 1.5 trillion and a circulating supply of 15 billion. Its presale cap is pegged at 1 million Binance USD (BUSD), with the initial coin offering (ICO) token price valuing 1 COQ at 0.00002 BUSD.

Of the total supply, 76% will go to the community and the COQ auto trading system. Another 14% will go back into the project to finance future development. Lastly, 5% will reach marketing and another 5% will go to reserves.

COQView dApp and NFT Marketplace

While the COQ presale is currently going on in tandem with an audit of the project’s smart contract, there are plans to improve the product in the near future further. COQ’s next two most important projects are the development of the COQView dApp and a dedicated NFT marketplace. COQView will enable COQ holders to track their BNB earnings, stake, and vote. In addition to the COQ token, the dev team plans to release a Non-Fungible Token (NFT) collection on the Ethereum chain.

Final Thoughts

The COQ concept of earning BNB every hour for life provides an attractive opportunity for people looking for lucrative and hassle-free investments in the crypto space. On their website, the COQ team projects that a minimum of 10 million COQ tokens could potentially earn an investor up to $575,000 in as little as five years; an impressive level of ROI, unmatched by most traditional forms of investment. And if a massive return on investment is not enough, an extra benefit of the COQ token is that the community will decide taxation. This marks an unprecedented level of ownership in the DeFi space. The proposed NFT marketplace will also increase COQ’s usability in the ecosystem, making it even more valuable as a cryptocurrency.

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The only thing left for the COQ project is the completion of a security audit of its smart contract. Once they receive a clean bill of health, there will be little holding them back from being successful.

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More

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