PERPETUAL tri-weekly burning CORD & VACC (permanently reduce supply), & tri-weekly lottery to win BNB! Just buy & hold 10+ CORD for at least 1 hour for chance to WIN BNB. Every 3.5 weeks!
Friends, we have some great long term hodlers on board CORD.Finance, but we need to generate some volume. Solution? Tri-weekly lottery (every ~3.5 weeks during vault resets) to win BNB, and tri-weekly burns (to regularly and permanently reduce supply of both CORD and VACC) are about to begin.
Where will the funds come from? As you know, there is a small (0.1%) tax on transactions, and a 5% tax on rewards from vaults. These were intended to supply gas to the team for development. We are leaving the vault tax at 5%, but have upped the transaction tax to an extremely low 0.5% and at the same time are introducing two additional beneficiaries: BURNING, and YOU. All the CORD/VACC that comes in from tax revenues every 3.5 weeks will henceforth during vault resets be divided as follows.
- 1/5 will be burned, thus permanently reducing the supply of CORD and VACC, which can never be minted. Over time, this means your stash will become more and more valuable as scarcity increases forever.
- 1/5 will be shared back to the community as BNB via lottery! This will be obtained by selling the taxed amounts just before the draw
- 3/5 will be kept by the team for development gas
The rules of the tri-weekly lottery are simple. We will look back over the 3.5 week period since the last draw, and collate all purchase transactions of at least 10 CORD purchased on SushiSwap or PancakeSwap V2 (details below). To be eligible, there must be no outbound transaction of CORD from your wallet for at least 1 hour after purchase. That means no trading CORD for at least 1 hour after you buy it, staking is okay. The winner must also be hodling at least 1000 VACC at the time of the random draw, which will occur during the 3.5 days downtime between vaults. That’s it! We will select winners based on closest transaction hash of their buy order to the transaction hash of the tri-weekly CORD burn that we do just beforehand (tx hash must be under the burn hash); thus we will have a verifiable random draw. Can you stack the cards in your favor? Sure, just place more buy orders to get more chances! For example, you could place 10 buy orders of 10 CORD each all at once, and after 1 hour, sell them all (if you wish) or stake them all (a better plan :)). Just make sure you wait a FULL HOUR, since even 59 minutes cannot be counted as it would be unfair to the next closest entrant who may have waited the full hour. And remember to hodl minimum 1000 VACC at time of the random draw (you should hold more than that anyway to enjoy the global VACC hodler’s multiplier in all our vaults including partner vaults). Any tri-weekly draws that do not have any eligible transactions will be carried forward to the next draw for a bigger prize. (P.s. Trading bots and the project leaders not eligible to win.)
Contract for CORD on Binance Smart Chain (BSC)
Contract for VACC on Binance Smart Chain (BSC)
To buy or trade CORD-BNB on PancakeSwap V2, enter the BSC contract address of CORD in one of the PancakeSwap V2 exchange token fields, and select BNB in the other field.
To buy or trade CORD-Sushi on SushiSwap, enter the BSC contract address of CORD in one of the SushiSwap exchange token fields, and select Sushi in the other field.
To buy or trade CORD-VACC on PancakeSwap V2 or SushiSwap, enter the BSC contract addresses of CORD and VACC in the PancakeSwap V2 or SushiSwap exchange token fields.
Any CORD purchase transactions meeting the above criteria made from the moment of this announcement forward will be automatically entered for the next random draw. The first tri-weekly CORD & VACC burning and BNB lottery are set to occur during the next vault reset ~3.5 weeks from now. So get trading CORD fellow CORDians, and hodl for as little as one hour (how easy is that!), to WIN BNB. Just make sure you also hold or stake 1000 VACC in your wallet at the time of the random draw. It all begins NOW!
- The CORD.Finance Team