Receive $CCOP-G when you contribute and $CCOP for liquidity
We believe that providing L1 ownership data to other blockchains will prove to be incredibly valuable to metaverse and game developers. The CCOP is designed to reward addresses who pay the transaction cost of persisting and broadcasting new ownership data via the protocol.
We also seek to build a community of developers who see the value in this data and are willing to spend their own funds to contribute to the protocol.
We've separated the governance and reputation of contributors from liquid value for contributing by using a 2 token approach. Protocol contributors will be rewarded in the governance token $CCOP-G. Holders will be able to determine the future of the protocol, such as which chains to broadcast ownership data to, and disbursement of $CCOP, a tradable ERC20 token that rewards contributors with tokens that offer liquidity. Contributors can profit from their contributions without losing their ability to influence the direction of the protocol. The 2 token approach also prevents a 51% attack, where a chain maxi can buy governance influence and dictate the direction of the protocol in a manner that does not serve the community - divorcing governance from liquidity helps ensure the best public good outcome of the protocol.
$CCOP-G has no supply limit and cannot be transferred. This token is used for governance in determining the future of the protocol. Restricting transfers means the token is effectively valueless - holders cannot create liquidity for this governance token.
$CCOP-G is earned by contributing new ownership data to the protocol. If you perform a transaction that results in new ownership data being persisted and broadcasted, you will receive a reward of $CCOP-G. If your transaction fails to update persisted ownership data, you will not receive an award.
This approach means that contributors are rewarded for speed - the first transaction to report new ownership data will receive the reward.
Rewards for submissions from ERC721 contracts are 3x rewards from other addresses. Implementing reporting to CCOP in your NFT contract will reward you with 3 $CCOP-G for each transfer made on your NFT contract.
$CCOP-G has been pre-mined. 0xEssential has received 500,000 $CCOP-G as a reward for creating and deploying the protocol, equivalent to submitting the top 50 10k PFP projects' ownership data. We wish to maintain some ownership of the direction of the protocol as the creators, while still allowing early contributors the opportunity to add valuable data at the outset.
$CCOP will be the liquidity token to reward contributors to the protocol. This token has not yet been created, and we expect to use $CCOP-G to propose the creation and disbursement of this token, providing contributors liquidity for the value they have added to the protocol.
We envision $CCOP with an uncapped supply. Earning $CCOP-G will get more difficult as more data is submitted and more contributors seek to earn rewards by submitting transactions to persist and broadcast ownership data.
We envision disbursement of $CCOP on a regular schedule relative to the $CCOP-G tokens earned since last disbursement.