Why is it a good option to choose COIL among the hundred of stablecoin that currently exist? What are the specific problems that COIL aim to solve in the ecosystem?
Coil is not really a stable coin like most think. It can fluctuate to 50c or $10. What Coil does it once this happens, Coil reacts to these price changes and every 23 hrs rebases itself to help meet these supply and demand shocks. If Coil held $10 for a 24 hr period every single address would then get 90% more coins. Many people would then sell pushing its price back lower and closer to its target. If price only fell to $3, then the next day Coil would add another 20% more to every address. Eventually it would add enough supply that people would sell and push it back near its target of $1.
Coils goal is to adjust to supply and demand shocks. This solves many problems and reduces risk in the system and especially in DeFi, as Coil is a hedge asset, and also makes a stable medium of exchange. As far as incentives we have our Spring, which is paid from our Ecosystem Fund rewards to everyone in the community that provides liquidity in the pools. Think of it like a faucet. 20% of our total supply goes to fund this to reward all people in our community that support the Coil Network. This is a safe and fair way for the Coil network to redistribute back network share to all supporters!
Most investors are only interested in the immediate benefits rather than the real long-term value of the project. How can the project convince investors to invest in Coil over the long term?
Right now elastic supply is a new ground breaking idea. The team think once everyone sees and learns how elastic supply and Coil work, they will be hooked for the long term. Coil system will appeal to everyone. Coil is an ideal hedge asset for ALL portfolios, which helps to minimize risk that everyone wants.
On top of that, it is a stable medium of exchange, stable to borrow against, and appeals to all. Even just traders or arbitragers who want to trade around rebase. Coil appeals to risk adverse investors, long term investors, short term investors, traders, yield farmers, arbitragers, and commerce. It is fantastic asset that appeals to many different people for many different reasons. Coil fills a need in every single portfolio!
Why would beginners adopt Coil? How is it better?
Beginners have a chance to be in Coil early, many projects like Amplforth, sell out to large venture capital firms or investors. Coil is built for the people and the community. This is a chance for the small investors to be a part of something big in the beginning. Over the next few years as Coil grows, it will become fully turned over to the community through governance, allowing all of you to help craft the vision and the future!
The team want their community to be enthusiastic, knowledgeable, and welcoming. They aim to help educate the world of this revolutionary idea. Community is very important much like it was for the early Bitcoin adopters. You all will play a vital part in helping us grow!
They have announced an ambassador program and had other contests and bounties. As a community based project you can donate or help for project's success, the team want Coil to grow and spread all around the world. This is a global project. Feel free to come and join our telegram and discord to help out!
