In this article we will talk about Cryptonlyfanz (COF) Token, a new shitcoin based on the Binance SmartChain (BSC) network, this token and platform wants to be an alternative to the already famous platform for content creators “ONLYFANS” and in this you will pay with tokens, as they will have their own token, called the COF Token.
Next I am going to give you the COF token information directly translated from the official website and I will also explain how to buy this token.
What is Cryptonlyfanz (COF) Token?
Content subscription is a fast growing market with more than $ 20 billion in sales worldwide. Currently, content creators use the Fiat marketplaces to facilitate the sale of their subscriptions, which creates complicated tax obligations, and subject to the whims of the platforms themselves.
Our goal is to separate the claim for earnings and subscription of Fiat currency content to give users more power over their earnings. By creating a content-sharing site in a distributed way, we allow creators and subscribers to dictate how they want the platform to work.
CRYPTONLYFANZ (COF) Tokens.
He believes that cryptocurrency should be more than an efficient store of value and should move towards utility-based functionality. Pornography businesses struggle with their ability to obtain preferential rates for credit card subscription processing; the intermediary parties capture a large sum of money from each transaction.
cost of this inefficiency is currently being passed on to content creators and subscribers. Also, the current management of these websites hosted by content creators is funded from the balance of subscription funds that remain after paying exorbitant processing fees.
Believe in the marriage of your specific purpose token and your unique platform for Host Content Creators can revolutionize the industry now. founders of Cryptonlyfanz believe that they can offer a free platform to all content creators with no initial subscription fees.
This will be achieved by creating and managing the currency subscribers use to pay for the content. Bitcoin and its mining process are well on their way to disrupting traditional banking institutions.
COF token is about to do the same in the subscription processing and compensation structure of the content provider of the porn business. Through the tokenomics structure of COF tokens, the Company believes that the system can be fully sustained by a redistribution tax levied on sellers of the token who choose to speculatively trade on the price.
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State of the market.
market seeks utility and adoption, and its actions prove it. COF Token and its use in the processing of CRYPTONLYFANZ transactions will provide definitive data to the market about its ability to sustain a business, the usefulness of the COF Token and the growth trajectory of both the business and the demand for tokens.
Many cryptocurrencies and tokens are traded on assumptions of future adoption, therefore very little definitive data is used as a tool for price discovery.
Crypto’s long-standing claim to being sustainable, when viewed solely as a transparent store of value, can be quickly disputed when a single tweet from someone potentially accepting Bitcoin for vehicle purchases can send the broad cryptocurrency markets skyrocketing.
For example, there are meme coins that could trade billions of dollars of assets back and forth, but who’s to say how much of the transactions the total was based on utilities or adoption.
Who can speculate on leverage? assumed between token or currency holders for the purchase. re are no checks or balances to measure any of the above. COF token has the ability to shape the token’s commitment and participation in an equity stake in a private business, essentially considering that the business is publicly owned and operated by content providers and subscribers.
Generate Marketing Income
Generate income for development and sustainability
Reward content creators on the CRYPTONLYFANZ platform
TOKEN FUNCTION token (COF) will be the main token of the content exchange and subscription website CRYPTONLYFANZ.COM token will serve three main functions. TOKEN SUPPLY COF will have a limited supply of 10 BILLION tokens.
USE AND DEVELOPMENT OF THE TOKEN during the development of the product IDO will be used for the following purposes:
Marketing and development
Incentives for content creators
Listing and app fees
CRYPTONLYFANZ PLATFORM TOKEN UTILITY
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Content creators will be able to host their own content, shared publicly or privately with their subscribers, and COF tokens can be used to purchase subscriptions, one-time purchases, or can be held to gain access to Premier content creator events and exhibitions.
While COF Token will be used as payment method for creator content, the platform will also support various Cryptocurrencies such as BTC, ETH, USDT, DOGE.
All external crypto currencies entering the payment system will be converted internally into COF token.
Essentially selling cryptocurrencies out and putting the buy side pressure on the liquidity pool of COF tokens.
Content creators can claim a weekly release of their COF Tokens for conversion to crypto of their choice, with a portion going to the recording address to cap the price.
Subscribers will be able to support content creators by purchasing single minted NFTs, created by content creators and will offer long-term access to various events and promotions as decided by the content creator.
CRYPTONLYFANZ users will purchase COF Tokens from any centralized exchange (CEX) or distributed exchange (DEX) containing COF liquidity.
Anyone can provide liquidity who has COF tokens, and the provision of liquidity will be rewarded through a participation mechanism that will distribute additional COF tokens, as well as passes to different content creators.
COF Token Distribution:
TOKEN COF RATE STRUCTURE AND TOKEN BURN
Each COF token transaction will have the following distributions:
3% Marketing and Development Wallet, held in a multi-sig safe.
2% liquidity fund that we intend to maintain the market liquidity, the liquidity fund balanced and the price stable, returned to the COF.
1% User Rewards Wallet that is distributed to website account holders based on their proportionate contribution to supporting content resulting from the creators’ work.
Through the transparent reports of increased processing data provided to the market, COF believes that the growth of the business will appreciate the token holders of value and reward through token demand and implicit appreciation. value of the token will be directly related to the business activity of the website.
In addition, withdrawals by content creators of their tokens will result in a 10% Burn to be paid by the CRYPTONLYFANZ Platform to maintain the health of the supply and the price of the token.
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ROADMAP OF THE CRYPTONLYFANZ PLATFORM
Website UI design and development (DONE)
Develop the basic functions of the Cryptonlyfanz social network (DONE)
Internal feature testing (posting, likes, comments, messaging, profile settings, etc.)
Develop premium bio-links page
Integration of cryptographic payment gateways
VIP messaging / video calling feature in development
COF rewards in development
Integration with instant ID verification
Launch scheduled for mid-August
Further expand our network of influencers
COF NFT V1.0 Market Launch
Increase our Marketing and Influencer campaigns.
COF TOKEN ROADMAP
COF token implemented in the main network and audit (DONE)
COF BEP-20 Token Launched (REALIZED)
Technical document created (DONE)
Pre-sale launch July 8, 2021
Reach 2,500 headlines
1500 members of
Cryptonlyfanz giveaway launch
Listed on three exchanges
Reach 5,000 headlines
5000 members of
Listed on five exchanges
How to compare Cryptonlyfanz COF Token?
At the moment it has not yet been released, as soon as there is more information and the contract is available, we will explain how to buy it.