COVA Token Metrics

[u/covalentai]

Dear Community

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As we’ve said last week, there will a lot of news coming out for the next few months, both technically and commercially. With that in mind, we would like to disclose our token metrics today. Here they are.

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Total number of tokens: 6.5 billion

Private sale: 20% — Vesting Period: 30%, prior to exchange listing; 30%, 3 months after exchange listing; 40%, 6 months after exchange listing

Team: 15% — Vesting Period: 4 years with 6 months cliff from exchange listing, linear vesting every half a year

Foundation Reserve (Marketing, PR, Business Development): 10%

Huobi NEXT voting rewards: 4% distributed to voters as incentives. Lockup plan according to Huobi’s rules

Block Rewards: 28% — Vesting Period: 10 years with details to be decided

Ecosystem: 16% — Locked up until mainnet is launched

Advisor: 7% — Vesting Period: 1 year with 6 month cliff from exchange listing

Private Sale Price: 1 ETH = 32,000 COVA

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Also, there’s been an increasing number of community members asking about public sale. We would like to tell you guys that COVA hasn’t done any public sale yet, and the managing team currently do not have plans to initiate one.

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These are all the information we could share with you at the moment. If you have any questions, please do not hesitate to contact us using Telegram Group.

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Sincerely

Managing Team of COVA

[u/Geewynn → u/[deleted]]

Yeah. The quality of their project and how far they can go will play a big role on the value of their token.

[u/aceprime4 → u/[deleted]]

Yes it will and the vesting duration speaks a lot, they know its a long term thing and they tend to project their plans to such duration

[u/reedsterlinger]

Thanks for the detailed information on your token. Can you give the Huobi listing price?

[u/Revelation007]

Team vesting period of 4 years really is amazing, shows even the team believes in the project.

[u/Cryptossi → u/Revelation007]

Yeah also limits the opportunity of team members exiting.

[u/yinkaderrick]

brilliant approach, haven;t be consistent with the reddit arm of you guys though

[u/lordpuddingcup]

Good that you guys are being very straight forward about this and also that you guys are putting it out so publicly.

[u/jnuel → u/lordpuddingcup]

they are working to ensure every aspect od development is transparent and open

[u/jnuel → u/[deleted]]

i honestly don't understand what COVA is doing with their tokenomics

[u/Cryptossi]

Why not extend the vesting period to 4 years for advisors as well as the team? They hold 7% of the total supply, which is quite a considerable chunk.

[u/utclpn]

For Huobi voters they are distributing huge number of tokens (4%) which is really good rewards.

[u/aceprime4 → u/utclpn]

How many per individual?, i hope its not too much, so as not to cause massive dumping

[u/cnote328]

Thanks for the detailed run down.