COF Tokens Distribution, Asset Managers Rewards, Token Burn
In this article, we would like to describe the details of COF token reserve distribution and burning mechanics and introduce the active loyalty programs for asset managers.
What is COF — Community Operated Fund
The community operated fund is a pool of crypto assets, capitalized from the MBN team, community members, and external investors, which is managed by traders from the MBN community.
The goal of COF is to provide traders with crypto assets for management and create multiple business opportunities for MBN customers.
Everyone can take part in COF, performing as an investor or as a trader.
To join COF, click on the links below and fill the form on the website. As an investor, you’ll receive passive profit from the fund activity. As a trader, you can become one of the COF asset managers and apply for active loyalty programs supplied by COF token reserve.
Stake your MBN and get 10–15% of the COF profit
10–15% of the COF profit gets distributed between all MBN token holders who have staking level 2 or higher and the share is proportional to the number of tokens committed to staking. The COF payout happens every 14 days on Monday and is paid in ETH.
COF token reserve distribution
According to our distribution schedule, COF tokens moved from the lock-up contract to the distribution contract, and the vesting period has started. A total of 200m tokens will be distributed for the next 24 months.
Every month, these tokens will be used for network incentives for the active community members. The remaining amount is sent to the public burn address.
This means an ongoing token burn every month, which will result in fewer tokens remaining in circulation.
The list of incentives contains the following points:
- Rewards for asset managers and COF participants;
- Weekly staking payments;
- Increasing the liquidity;
- Remaining tokens to be burned.
The first batch of 13M MBN for June — July was released yesterday on the 6th of August 2020. The main transaction contains these parts:
- Asset manager rewards — 430'639 MBN
- Staking — 1'744'275 MBN
- Liquidity — 1'319'410 MBN
- Burned — 9'565'727 MBN
You can see the transaction here. All future monthly distributions will be around 8,3m.
So, almost 10M tokens were burned from the COF token reserve, and 430k MBN were distributed as rewards for Asset Managers.
Are you a PRO trader? Join our loyalty program for Asset Managers
We currently have an ongoing loyalty program for asset managers, with 25M MBN to be distributed during this period to active traders who perform in COF and take part in promotion activities.
Traders can manage the community-operated fund’s assets, showcase their results to the public, and receive rewards from the COF reserve on top of their regular success-fee-based commission.
How to participate?
- Become an asset manager on the MBN platform. If you don’t have an account yet, this is an excellent time to get started
- Link your Telegram account in the profile page and verify your account with our telegram bot — @mbnplatform_bot
- Apply for the asset management program by filling out this form, which is also available on the website and in the telegram bot.
Once you meet all the conditions, the MBN team contacts you and invites you to the COF, which allows you to manage collective funds of the MBN community. Depending on the total amount of assets under your management, you’ll get rewarded based on these rates: also available on the website and in the telegram bot
For example, if you manage crypto assets worth 10k USDT in total, you’ll get the rate of 10, which results in 100k MBN as a reward. If you manage crypto assets worth 200k USDT in total, you’ll get the highest rate of 17, which results in 3,4m MBN as a reward.
Rules of the loyalty program
Please keep in mind that this is not an airdrop and that our team will check all requests and add only selected asset managers who also do actively promote the MBN platform. The full article about the loyalty program and the rules for asset managers you can see here:
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