Corkscrew Financial: From Nodes to NFT’s
What does Corkscrew Financial do?
Corkscrew is a platform for users to access high yield across the Crypto-sphere, through Nodes-as-a-Service. Unlike other projects, we aim to have a maximum amount of Nodes in the system, to combat this, we aim to provide NFT Nodes so they can be traded and eventually set the entry price to the lowest price someone is willing to sell a node for. A whole new reward system will be needed for this.
We aim to do this by diversifying our treasury into multiple yield bearing assets to allow the best return to node and Cork holders. We also want our community to have a say in where we invest, we will of course use our due diligence to ensure the projects we invest in are up to standard and have an active roadmap to ensure equity is maintained and improved.
Avalanche C-Chain was chosen due to the speed and cheapness of the network, cheap, fast and reliable. There is of course the addition that Avalanche X-Chain directly links to C-Chain so we have the opportunity of expanding to other networks.
How we plan to use our allocation
Purchases of Cork nodes will be deposited into the Cork Treasury, where it will be allocated to the relevant pot. Allocation is as follows: 70% for Treasury and Rewards, 10% for the team and 20% for Liquidity.
Nodes are essential for the network, they all in all make the network more secure. What many people don’t know is that Nodes can be used as an endpoint so that you have direct access to the network. Once connected, you can submit transactions through this node, being verified almost instantly and costing you less for verifying the network.
Initially there will only be one Cork node, but once this phase is over we will move to a three tier system. This is to allow everyone access to the project, more expensive nodes will of course reward owners more, detailed below.
We believe in a fair and just system that doesn’t take advantage of anyone, that is why we constantly be updating our community through all of our social media channels and doing AMA’s online to ensure everyone get the chance to be heard and full understand our mission.
We want our community to trust us, fully. That’s why our lead admins/devs will be KYC’d and our main wallets will be multi-sig to ensure we don’t have a repeat of Ring finance. Our code will be published for all to see, either directly to Snowtrace.io or Github.
We have nearly finished our week of seed funding to get Corkscrew off the ground. Once this is over we will be going into Public Presale. We have chosen to do this to reward our early investors. To reward early investors we will be offering nodes at 50% of the Launch price. This allows our early/seed investors to create lifetime earnings without causing a large dump in tokens on go live. Funding raised will go towards liquidity pools where they will be locked with multi-sig wallets.
Corkscrew will be based on a dual-flationary model. We aim to combat inflation (new tokens minted from Nodes) with scheduled buy-backs and Cork burning to counter any negative price action from node holders selling yield.
Distribution of the supply is detailed below.
The current ERC-20 model is very simplistic, to track early investors and Airdrop them to the next stage of our plan.
Our new ERC-1155 Smart Contract will be able to process Fungible and Non-Fungible Token transfers within single transactions. Our NFT Cork Nodes will generate Cork, which will be accrued over time.
Cork Nodes will cost 20 Cork initially to reward early adopters, then will consequently go up to 100 Cork.
Standard Nodes will yield 2 Cork per day, giving a Node a 10-day return period, this wont last long.
Once the quota of Nodes has been reached (still undetermined), we will move to a 3-tier system, detailed below. The original nodes will become “Blue Slope Nodes”.
The cost of Nodes will be returned to the treasury wallet where it will be redistributed for investment. Redistribution will be discussed with the community to decide where money should be spent.
The current supply is 1,000,000 and we quickly realised this supply is too high. We will reduce this to 500,000 when the next stage of Corkscrew is launched. 100,000 Cork are allocated to presale, airdrops and liquidity pools. 400,000 Cork to the treasury for future use. The remaining 500,000 Cork will be burnt before the snapshot is taken.
The current issue with Nodes in the Crypto-sphere is that they are tied to the wallet owner. That is why we are clearing our slate and starting a fresh, we are aiming to deploy an ERC-1155 Smart Contract. This contract as mentioned before supports multi-token transfers which essentially means that when buying a Node, the user can send 40 Cork and receive a Cork Node in return, this is all done within one transaction saving the user in Gas Fees (instead of two transactions, one sending, one receiving).
1.1 (Now): The first stage is seed investing, scouting for seed investors and offering tokens at a discounted rate. Scouting for an experienced developer to join the team and code the ERC-1155 Contract.
1.2: Close the Seed Presale and reassess funding, go live with public Presale. Work to continue on the Smart Contract, as it is being built from scratch. Burning 50% of the supply will be scheduled.
1.3: Announce website (if not sooner) along with Liquidity Pool on TraderJoe.
2.1: Deploy the Smart Contract, dapp and start offering Cork Nodes.
2.2: Start work on Marketplace.
2.3: Community discussions to determine how Corkscrew is governed.