On February 8th,2021, 19:30–20:30 (UTC+8)and 12:30–13:30 (UTC ), we conducted the [Series №7] AMA in Cocos-BCX ‘s official Chinese and English telegram groups with Amanda, our Operation supervisor.
In this AMA, Amanda explained a series of events such as the Cocos-BCX 2021 plan, COCOS Token reduction plan, recent Blind box NFT,whitelist,referral program and Old Bounty Withdraw Etc.
On February 7th,Cocos-BCX prepared to share New Year AMA benefits and launched a two-day interactive activity on Cocos-BCX’s official Twitter platform. The purpose of this event is to understand the voice of community users and interact more closely with community fans. Users could actively ask questions and interact. The feedback from the event is excellent. We have received more than 1,000 feedbacks about Cocos-BCX. Below are our selected community users’ most concerned questions, and Amanda has answered the following questions in detail.
Deep Rana (@SSRRana2): The COCOS community is very active, but I want to make COCOS better. You need to start the Ambassador Program. It is necessary to spread Cocos all over the world, so, is there any update on when Cocos will launch the Ambassador Program?
Amanda: First of all, thank you for your attention and support!
For users who want to participate in the construction of the Cocos-BCX ecosystem, we have opened the ecological partner Builders&Angels in the early stage, and released the “Cocos-BCX Mainnet Ecological Builders&Angels Incentive Plan 3.0” on January 19th,2021. We have always encouraged more The team and individuals from, if you want, you are more than welcome to join us~
Kukio12 (@kukio121): What plans does Cocos-BCX have in listed on Big Exchanges? When will you hold another Bounty event?
Amanda: The listing on Big exchanges is still advancing, and there is no public announcement. The Cocos-BCX community will hold various airdrop events from time to time, please pay attention to the official community and platform.
Andin (@andin_tm): What is the maximum time for COCOS farming? And what percentage. Will I receive Bonus once a day?
Amanda: The initial Cocos-BCX mine was launched on February 8th,2021.The first mining pool produced a total of 100,000 COCOS and continued mining for 30 days.
During the mining process, click “Obtain” to extract the COCOS produced by the currently stakes NFT, and the NFT will continue to mine and will not be redeemed. Click “Withdraw All”, all the staked NFTs will be redeemed except for the COCOS produced. For a single NFT, you can click withdraw, and all COCOS produced by the NFT will be extracted, and the NFT will also be redeemed into the wallet.
Each level of COCOS NFT has different computing power. The higher the computing power is, the higher the mining efficiency is.Total output = COCOS nominal value * mining efficiency, there is no upper limit for staking, the more you stake, the more COCOS will be produced.
Lee (@ley4u83): Are there any clues for the diversification and integration of new projects in the future?
Amanda: Regarding the recent progress of the project and the next development, I have shared it in the latest issue of AMA~
SmartMemek (@smartmemek): What goals will the Cocos-BCX team achieve in 2021?
Amanda: Some time ago, we have announced the Cocos-BCX plan for January-July 2021. The COCOS asset will be sailed to Ethereum and gradually start the age of empire, as follows:
- From October to November 2020, the COCOS Community Earth Dotted Project is launched
- From December 2020 to January 2021, COCOS Token is deflationary
- From January to March 2021, COCOS ecology will transfer flowers to BSC: BSC Binance Smart Chain Ecological Product Development 1.0
- From April to June 2021, the “COCOS Grand Navigation” plan Layer: 2 and ETH ecological product expansion 1.0
- After April 2021, “COCOS Civilization” project: Blockchain games continue to output
- After July 2021, “COCOS Empire Age” plan: BSC expands in ETH ecological products
Ganesh (@Ganesh77167192): When does the NFT start to stake?
Amanda: At 13:30 pm on February 8, 2021 (UTC), users can start using your NFT to mine, join and share the COCOS mining prize pool equivalent to 50,000 USDT created by Cocos-BCX!
Wahiburrohman (@Wahiburrohman): The news I read in the media is that Cocos has reduced it from 100 billion to 100 million. Why has it been reduced and for what purpose, what has the original plan changed now? Thank you for your answer🙏
Amanda:If you look at the cryptocurrency network and ecological design, users in the ecosystem will not lose after reduction, but will increase the awareness of unit COCOS tokens in many scenarios.
For a public chain that focuses on the construction of game ecology, the total amount of tokens was previously set at 100 billion in order to match the demand for network endogenous currency in the virtual world of the game. The economic factors of this total amount can be referred to the previous “Number One Player” The design of the virtual society in the movie can also be considered by the demand for base currency of a single economy.
But this is the expectation in the white paper. With the stability of users’ awareness of cryptocurrency and the number of uses in ecological applications, bottlenecks appear. Adjusting the circulation and price is a necessary requirement for COCOS.
For example, to evaluate the NFT in a COCOS ecosystem, if COCOS is used as the base currency, a $1 NFT requires thousands of COCOS. If the price is in US dollars, the single price is counted to 4 decimal places.
These two extreme situations hinder users’ understanding of the unit COCOS tokens and the difficulty of settlement in mathematical calculations.
Therefore, adjusting pricing while reducing volume is inevitable and paving the way for the follow-up. It can be expected that after the adjustment, the DeFi and NFT in the COCOS ecosystem will make greater progress. For example, many DeFi measurement in the Ethereum ecosystem are priced in USD stablecoins, and the adjusted COCOS is easier to integrate. And COCOS plans to integrate more DeFi applications and use BSC to carry out technical deployment of bridges.
In fact, every subtle design change of the ecology will be manifested in the technical logic. If it is not technically obvious, then there will be a basis for thinking in the economic model. Cryptocurrency network design is a multi-disciplinary design. If you want to find the essence, you should look at the technical logic. If you want to find the cause and effect, it is best to rise to the macro level. There is no theory to rely on these designs, only to try, and the success or failure is left to the future, but the present is left to a reasonable basis for judgment.
Thank you for your attention and support to Cocos-BCX. If you have any questions, please leave a message in the comment area. We will update the community Q&A on time to answer your questions.
- Telegram EN：https://t.me/cocosbcxen
- Telegram CN：https://t.me/CocosBCX
- Telegram Blockchain Games: https://t.me/COCOSBlockchainGames
- Telegram Vietnam：https://t.me/cocosbcxvietnam
- Telegram Russia: https://t.me/cocosbcxru
- Developer Document：https://cn-dev.cocosbcx.io/
- COCOS Bounty: https://bounty.cocosbcx.io/
- Cocos-BCX Blockchain Explorer：https://explorer.cocosbcx.io/