KogeCoin launched on May 6, 2021 by providing a free and equal allocation of our token to all early Polygon users who’s traded on QuickSwap. We started only with an idea that launches should be fair to everyone in the community. No bots dumping on ordinary holders. As transparent as can be.
In many ways, our launch was a success. Three days later, as of May 9 2021, we now have over 170 holders of kogecoin, many of whom own more than the airdrop amount. The price has also increased, from $2/airdrop when the KOGECOIN-USDC pool was started, to $7.81/airdrop now. While liquidity is still shallow, the devs and the community have actively contributed liquidity, and right now holders can sell their entire airdrop for only a 2.5% price impact. The fact that our 170+ holders are not selling at this price indicates the market’s assessment of the fair value of our token.
If you haven’t claimed your KogeCoin yet, you have until around June 3, 2021 (Polygon block number 1622763836) to claim: https://kogecoin.io
Marketing plans + next steps
While the devs would love to shift our focus to building value-generating products, we would like to first do a bit more marketing to get more people to claim/hold Kogecoin and further grow the community aspect of the token. Our marketing plan is as follows:
1. Meme contest, with 5x$10 prizes + KOGECOIN (?)
We will launch a meme contest where people can submit memes for KogeCoin in return for a prize. Memes should be related to our token, and winners will be jointly determined by the devs and the community. Each twitter account can submit at most 5 memes, which has to be tweeted with an @ to our handle + submitted in a Google Form to be counted.
The USDC prize for this contest will come from the devs’ personal contribution. Should we also contribute some KOGECOINs from the marketing wallet to this contest? We will hold a vote to decide.
2. Medium thought piece
After the meme contest, we will write a medium article detailing our experiences with our innovative launch. We want a thought-provoking piece, something like: “Do airdropped tokens have value? A case-study of a community token given to early Polygon adopters,” which we can share on major crypto outlets.
KogeCoin reward for community contribution
Two members of our community have really stepped up to help out our mission. First, Claudiu M. suggested the meme contest and provided all the needed materials. Second, L B sent us multiple pull requests for fixing stylistic aspects of the website. For their contributions, they will be sent x10 and x5 airdrops, respectively. We welcome all contribution to furthering our mission!
While the marketing wallet was designed for this purpose, this KogeCoin reward will be sent from the dev wallet due to the fact that we have not discussed this as a community. In the future, all spending from the marketing wallet will be voted on by the community, first informally on Telegram and later we may develop a token voting mechanism where people can stake their KOGECOIN-USDC LPs to vote.
Why hold KogeCoin?
The devs are fully committed to KogeCoin and the Polygon/Matic defi space. Many airdropped tokens end up having lasting value due to their attachment to the community (e.g. AuroraCoin, $8M market cap). We view KogeCoin as a token that allows us to grow with the community.
Similar to other deflationary tokens, transactions will carry a 2% fee, about half of which will be burned and another half distributed to all holders. It is always better to claim early to start collecting the transaction fees. Another benefit of holding is that all tokens that were allocated to the initial airdrop but went unclaimed for 1 month following Genesis, along with any transaction fees they accumulated, will be redistributed to existing token holders in a second airdrop. Finally, holders of KogeCoin will benefit from the devs’ future projects in the farming/defi space.
Is there precedent for an airdrop token having lasting value?
Yes! AuroraCoin was launched via airdrop to all Icelanders. Sam Altman is launching WorldCoin which will airdrop to everyone on the world. We believe that the benefits of early ownership and further dev involvement in the Matic space will make this coin successful in the long run.