Lasting only ten seconds, the $COW IDO was oversubscribed on the MDEX platform, collecting the equivalent of USD 1.5 million in MDX, HT and BNB tokens.
Singapore, 26 May, 2021 – CoinWind, a DeFi (decentralized finance) smart yield aggregator launched its $COW token today. In an initial DEX offering (IDO) launched on three platforms – MDEX, WeStarter and Helmet, the yield aggregator offered 3.24 million $COW tokens for sale.
The listing was a huge success, with CoinWind tweeting to its 19K followers that the first phase of the IDO on MDEX (termed IMO – ‘Initial MDEX Offering’) lasted “only 10 seconds”.
The bulk of the tokens, 3 million $COW tokens, were made available on the MDEX platform. MDEX.COM is a leading DEX (decentralized exchange) that has captured major market share in recent months. The DEX uses a unique strategy of dual mining, combining liquidity and transaction mining, which has led to explosive growth in its transaction volumes.
The complete 3 million $COW tokens were scooped up on MDEX for the value of USD 1.5 million which was collected in the various token currencies (MDX, HT and BNB). A total of 8,874 wallet addresses participated.
Based on the HECO (Huobi Eco-Chain) and BSC (Binance Smart Chain) networks, as of this writing, the $COW token sale is reported to have amassed 64.63 million MDX on HECO, 47.85 million MDX on BSC, 9.25 million on the MDX/HT token pair liquidity pool and 1.14 million on the MDX/BNB token pair liquidity pool.
DeFi’s Explosive Growth
The DeFi market has exploded in popularity in 2021, growing from around USD 3 billion in total value locked to USD 80 billion in total value locked in 12 months. While the market has grown, some users have either struggled to get the best returns on their investments, or have been wary of entering the market because of a perception of increased risk in DeFi investing, which they believe could lead to a loss in capital.
A spokesperson for CoinWind, the team behind the $COW token, said the project solves both of these issues.
The CoinWind Solution to Low Returns and High Risk in DeFi Investing
By matching users’ pledged tokens to maximize returns for all users, CoinWind promises to deliver stronger returns for users who want to farm their crypto assets.
“CoinWind works by automatically matching pledged tokens to high-yield pools for optimal returns,” says Musk, Head of CoinWind Community. “Furthermore, income generated is automatically reinvested every 5-10 minutes into high-yield projects, ensuring all income is used to generate profit, and no opportunity is lost. We also use hedging strategies to reduce impermanent losses.”
In DeFi investing, impermanent loss happens when the price of an investor’s tokens changes, as compared to the price of the tokens when they were first deposited in the pool.
Competitive Edge
By offering low user thresholds and maintaining high yields, CoinWind’s value proposition is to attract liquidity providers. The platform is particularly popular in China for single-token yield farming.
CoinWind offers both single-token (or single-asset) and LP (liquidity pool) farming opportunities, offering attractive APY (annual percentage yield) with flexible staking.
CoinWind Tokenomics ($COW)
The total supply of $COW tokens is 100 million. Of this, 65% will be used to reward users for farming in CoinWind, with the output halved every year.
Fifteen percent is allocated for the team’s operations, technology research and development, which will be unlocked one month after launch for 12 months.
Ten percent is allocated for early investors, while the remaining 10% will be used for the community foundation, fundraising and marketing.
As the project grows, the CoinWind team plans to expand to more blockchains including Ethereum, OKChain, Solana and others.
For more info about CoinWind, visit the official website: https://www.coinwind.com
CoinWind official channels:
Twitter: https://twitter.com/coinwind_com
English Telegram: https://t.me/CoinWind
Chinese Telegram: https://t.me/coinwind_cn
Medium: https://coinwind.medium.com
Media Contact
Cecilia Wong, yourPRstrategist.com
cecilia@yourPRstrategist.com
+65-91826605
