Hello 404 Daily Crypto Community
On 19th May 2021, Cosby Coin conducted an AMA in the 404 Daily Crypto. Our guest is Cosby Coin team.
Lots of questions as usual from the Community about Cosby Coin progress. The Cosby Coin team took part in a very interesting AMA session which included Project introduction, Questions from Twitter and a live AMA session with the 404 Daily Crypto community. If you missed the AMA in person, read this recap for a deeper insight into Cosby Coin.
Let’s take a look at the most interesting points of our conversation.
📍Session 1 » Project Introduction
Can you give us an introduction about CosbyCoin?
Moonfaced Bull | Cosby Coin Team: Cosbycoin is a safe and crazy memecoin. Instead of cloning Safemoon as everybody else, it uses all kind of “ponzy optimizers” in the same token. Its a deflationary frictionless farming token with a jackpot lottery.
The tokenomics: 10 % slippage; 3 % redistribution, 3 % automated jackpot lottery(70 % goes to daily lottery, 30 % accumulates and ones weekly sends it to a winner) 1 % burn, 1 % liquidity and 2 % marketing.
Can you tell us what are the use case of $COSBY token? and can you give us an overview of $COSBY Token tokenomics?
Moonfaced Bull | Cosby Coin Team: There is a LOT of marketing going on for this initial period. We have 10 different banners for different occasions and a lot of youtubvideos ready. Everything is set to launch at 18.00 CET
There is almost 0 % price difference between presale and pancakeswap listing, to get a good pump from the start. When its about memecoins, momentum is EVERYTHING
You can compare it with parties. When the TG is slow and few new investors are joining. Its like sitting at a taverna and drinking warm beer. No girls around. When its pumping, its like a nightclub where people are having a good time.
When price pumps — its a manifestation of optimism, when price dumps, its a manifestation of pessimism. Emotions transfer better through voice than through text, so expect a lot of AMAs. There was an AMA during presale for 6 hours straight. . At one point. It was more than 200 people listening and discussing in the voice chat.
We have spent a lot of time studying tokens that really moon, and reverse enginered them. We have seen what others do successfully and combined all tactics.
The best part is that it is 100 % rug pull safe. Rug Busters have been involved in the start up of this token and the devs have doxxed to us. This is a major part of our audits, launchpad and incubator business. We always demand that the devs doxxes to us
This is because a scam are hard to prevent through technical measures. It can be locked liquidity but huge team wallets. There can be locked liquidity and small team wallets but be a honeypot contract(where only contract creator can sell)
Recently, we heard about a scam token that airdropped tokens to people, and when people approved those tokens at pancake swap, the scammers gotr access to their wallets
Scammers are smart, and its hard to be steps ahead. BUT, if we know their identity, we can make legal consequences if anyone perform a scam. Thats the biggest safety measure that can be taken in this space imo.
i see that you have raised 299 BNB on presale and will be listed on PCS on a few hour, what are your hope for this project? How much will raised for liquidity?
Moonfaced Bull | Cosby Coin Team: 70 % goes to liquidity, which will be locked for a month to start with. Why only a month? Cause even though we have spent 40 hours and 6 BNBs testing the code, stuff can go wrong, and if something go wrong — its very good if the liquidity isnt locked that long, cause then people can be refunded rather quick. Once we see that everything works properly(as it did in all testing), it will be locked 6 months.
The remaining 30 % will be used for marketing. Taking a token to the moon is much about marketing, and its a pay to win game. A banner at poocoin costs 2 BNB per 24 hours if you want a decent shot at the programatic biding. A good infuencer charges a lot as well, so a decent marketing budget is extremely cruical when it comes to the success of a memecoin. Thats why we did 300 BNB hardcap.
There’s a jackpot wallet mentioned on your whitepaper, what does that mean? how that works? can you explain more about it?
Moonfaced Bull | Cosby Coin Team: Why Cosby? Cause we think that people are tired of all the elondogesafemoon stuff. 90 % of memecoins out there are all the same. Same code and same image. Cosby is bizarre and weird, a perfect combo to get viral.
Jackpot: from the slippage, 3 % goes to a jackpot wallet. 70 % of the daily accumulated volume will automatically, once a day, get sent to one holder. 30 % is accumulated for one week, and then sent to one lucky holder.
At a decent trading volume, the daily jackpot win will be at 5 000–15 000 USD
Crypto Monkey | Cosby Coin Team: You only need to hold 10.000.000 Cosby to participate in the jackpot!
Moonfaced Bull | Cosby Coin Team: Then, the supply decreases for every transaction, so its deflationary. Smaller and smaller supply, and hopefully larger and larger demand.
Crypto Monkey | Cosby Coin Team:
📍Session 2 » Question from Twitter
— Question from Twitter @ashes204bd
So many Rug Pulls happening nowdays & almost 90% project with anonymous team do rug pulled. How can we sure that You are not like them & we can invest in $CosbyCoin safely?
Crypto Monkey | Cosby Coin Team: So this project is audited and backed by Rugbusters. Our reputation is at stake every time we audit a token and we always doxx the devs of new projects.
— Question from Twitter @stevencurtis011
Marketing is the central element of every project, so that people know the potential that the project can bring. It is also important to achieve established goals. What is your strategy to attract new users and Investors to your platform and retain them for the long term?
Crypto Monkey | Cosby Coin Team: We have been reverse enginering different strategies from sucessfull meme coins. The strategy is to put in in front of the right people through the right chanels like this one. The key is massive traffic, an active community and good vibes for a nice experience :)
— Question from Twitter @hasan28d
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Moonfaced Bull | Cosby Coin Team: JUST LAUNCHED
🥞 PancakeSwap - A next evolution DeFi exchange on Binance Smart Chan (BSC)
Flip CAKE, collect SYRUP and stake them with Pancake Swap, the best decentralized exchange on Binance Smart Chain.
BSC was very slow before, but not this time
Crypto Monkey | Cosby Coin Team: We are currently working with different youtubers to get out the message in different languages and reach more potential customers with their own language. We are working with the Russian market, the arabic market, spanish market, turkish market and many more.
Here is an example of the video in russian:
— Question from Twitter @CRYPTO_KING98
Is the platform safe to Invest? How strong is your security? Have you already done an audit of the platform?
Crypto Monkey | Cosby Coin Team: The platform is supersafe, it has been tested alot of times to be secure from hacks. We will be doing an audit with Techrate soon.
📍 Session 3 » Community Questions (Live AMA)
— Telegram User @Talemang20
Investors are afraid of scam, exchange is afraid of scam, partners are afraid of scam, so what does Your project guarantee not to scam investors?
Moonfaced Bull | Cosby Coin Team: The token is audited by rug busters and the devs are doxxed
— Telegram User @feldul21
We are witness of more than 100 daily BSC projects. Alot of traffic is here. Investors are confused which we need to invest. So, tell us how your project is different and unique from others?
Moonfaced Bull | Cosby Coin Team: Most are just safemoon clones — safemoon code and generic dog/moon/elon/ape memes. Here its a absurd and controvelsial theme with increases the chance of going viral. Also, there is a lot of marketing going on from early on.
The code is unique, you have all common “memecoin” slippages in the very same memecoin
— Telegram User @callmesudi
Could you please tell me, If I wanted to buy $COSBY now, would that be a good idea? How do you determine which exchanges to include? And How can we register to start trading ? THANK YOU😊
Moonfaced Bull | Cosby Coin Team: Its a very good idea, got a dip after launch and have a coin gecko listing incoming. Usually generates a 2–3x. My recommendetaion is to then sell some at the pump and buy the dip that follows. Then sit still in the boat until CMC listing happens.
Regarding exchanges — we will apply for everyone we can find except from those who require liquidity, since all liquidity is locked at pancakeswap
— Telegram User @nikolas1819
What is the total Burn on your project? Do you have a BuyBack system or a Token Burn plan to increase Token value & attract Investors to invest?
Moonfaced Bull | Cosby Coin Team: 25 % burned instantly, then 1 % burn for every transaction
— Telegram User @ANTMANPK
Rug pull is Being too much. In this situation, How can we trust you and when are you planning to listed on a CEX?
Moonfaced Bull | Cosby Coin Team: Its audited by Rug busters and doxxed devs — i dont think it can get safer than that among small cap tokens on bsc
Thank you for answering questions from our community. Before the end of the AMA, maybe you want to say something to our community?
Moonfaced Bull | Cosby Coin Team: A lot of people asked about rug pulls, safety etc. Thats a huge issue. My estimate is that around 50–70 % of new tokens perform some sort of scam.
There is a scam detection bot(with a new improved version comping soon) and we are building a launchpad where only pre audited safe tokens are allowed to launch. Until then, we launch tokens(such as Cosby) through the community — and help them with marketing, as i am doing right now. All Rugbust holders get airdrops from every project that launches from us, so its a great source of both passive income and the possibility to invest in safe tokens.
We are also launching an knowledge center with investment tips and tips about how to avoid scams.
Thank you everybody for the attention, and again, i am deeply sorry for us beeing inactive during a time of the AMA, we really needed to help Cosby at their Tg during launch cause it was a lot of action and the devs had a hard time to keep up with it all.
For more information and future AMA, join our Social Media channels:
📍 More information on Cosby Coin:
❇️ Website: https://www.cosbycoin.io/
❇️ Twitter: https://twitter.com/CosbyCoin
❇️ Telegram: https://t.me/Cosbyofficialtoken
❇️ Discord: https://discord.com/invite/r98J5KUCXM
❇️ Pancake: https://exchange.pancakeswap.finance/#/swap?inputCurrency=0xde50089cd51bAcDd14517c58764d9D571c345423