The Singapore-based C.O.S.S. PTE LTD (aka COSS) announces a Fire Swap (pre-ICO) of its token named COSS. The COSS Token Swap (ICO) is soon to follow.
COSS stands for Crypto One Stop Solution, a platform that aims to boost the massive adoption of cryptocurrencies by addressing their usability issues. Having soft-launched the Crypto One Stop Solution (COSS) platform in April 2017, the company has turned to the next massive curve of development that will extend the current functionality of its product and will lead the project to governance by smart contracts as a DAO sustained by the COSS tokens.
The COSS token, available for purchasing during the Fire Swap with a limited offer, is designed as a revenue-generating cryptocurrency on Ethereum, that collects transaction fees charged by the COSS system for cryptocurrency transactions, and converts them into fuel to run the COSS DAO. The DAO is sustained by the COSS token that serves as the owners' proof of rights on the revenue share inside the COSS application. 50% of the revenue generated by the DAO is distributed among the COSS token owners. The fees generated from cryptocurrency transactions and trading on coss.io are stored in the cold wallet and paid-out to owners of the COSS DAO stake weekly.
"Some asked me what is the best use-case of the COSS token, and my instant reply was: to KEEP IT because it will earn you all the other tradable cryptocurrencies," - shared Visionary and co-founder of COSS, Rune Evensen.
The pre-ICO or Fire Swap of the COSS will start on the 10th of July, 2017 at 3PM Singapore time. 25,000,000 COSS tokens will be pre-sold on 'first come - first served' basis. This limited offer will be available for the maximum of 72 hours closing on the 13th of July at 3 PM SG Time. Those who purchase a stake during the pre-ICO will receive a 25% bonus of COSS tokens.
The COSS Token Swap (ICO) will start on August 6, when 130,000,000 (out of 200M) COSS will become available for purchasing. After that, on September 20th, 2017 the official trading of the COSS tokens will begin.
Further information is available on the official COSS Token Swap (ICO) page: ico.coss.io