In this article, we will have an in-depth look at Coinfluence and the CFLU token
Confluence was created in 2021 to accelerate promising blockchain projects onto the global stage. It aims to connect a community of 100,000+ influencers and stakeholders to a network of 1 billion participants looking for a piece of the next crypto tsunami. CFLU is the utility token of the Coinfluence ecosystem.
What is Coinfluence?
Coinfluence wants to empower crypto investors and blockchain projects. It aims to do this by addressing the challenges that they both face.
Coinfluence for crypto investors
Picking blockchain winners is hard and complicated. Coinfluence makes it easier for retail investors by vetting projects.
Why Some Blockchain Projects Struggle
Coinopsy, a service that tracks dead crypto projects, estimates that more than 2,000 cryptocurrencies have failed. The failure of some of these now-defunct projects is documented. Some were outright scams from the beginning. Others crumbled under the weight of their growth and a portion of them failed to stick to their core mission.
The causes for these failures are rooted in the recurring themes of;
- Failure to gain public trust.
- Poor execution of the idea.
- Lack of exposure to the market.
- No liquidity options for the community.
The Coinfluence Solution
Accelerate vetted blockchain projects onto the global stage by creating a community of 100,000+ influencers to generate viral exposure. Reward the community with returns on the increasing value of the community’s liquid token, $CFLU.
The Launchpad
Our upcoming launchpad will serve as a springboard for new projects. Crypto investors will use it as a springboard to find and make life-changing crypto investments while startups will leverage viral exposure from our community to raise funds to build successful projects. Our value proposition is that our community of token backers invest in a growing portfolio of successful blockchain projects, starting with CFLU. The three pillars of the launchpad are DAO, staking, and swapping.
Coinfluence DAO
Smart contracts will be the backbone of our DAO. We will limit admission to the DAO to CFLU holders who hold a threshold amount of CFLU tokens. The DAO will then vote on several decisions such as the projects to list on our launchpad.
Staking
Coinfluence staking allows NFT holders to earn by holding their funds in wallets to support the growth of Coinfluence.
Swaps
Users of our platform will be able to swap one cryptocurrency for another without going through exchanges. We will initially support a few major cryptocurrencies and will offer currency pairs for the projects we launch on our launchpad.
What is CFLU Token?
Confluence is offering a BEP20 token based on the Binance Smart Chain. A total of 1 billion $CFLU will be minted. The token supply will be distributed as follows:
The 65% genesis supply will be offered to the community during the initial coin offering (ICO) phase. Each phase will see the value of the tokens increase.
$CFLU Token is Worth Buying and Holding
Every transaction (buy and sell) that involves $CFLU is taxed at 5% where 2% goes to liquidity and 2% gets distributed to token holders according to their stake. 1% goes to marketing and growth.
- 2% goes to liquidity
- 2% is distributed to holders based on their stake
- 1% is dedicated to growth and marketing
There are several reasons to buy and hold $CFLU tokens:
- You get to own an early piece of the next wave of high-value blockchain projects.
- You are part of a community focused on the success of every project.
- Each project is vetted by industry professionals to close the gaps for commercial launch.
- Token holders can vote for key decisions such as the influencers or projects they want to see on the platform
- $CFLU is a deflationary token. The value of deflationary assets usually increases with time.
$CFLU Token Model
$CFLU is the native currency of an ecosystem that serves as a launchpad for other cryptocurrencies. The success of the project depends partly on the role played by the community as well as the team leading the project. The stakeholders responsible for the ecosystem are governed by a system that rewards good actors and penalizes bad actors. The two main functions of $CFLU are:
- Trading: Token holders can buy and sell $CFLU tokens on listed exchanges. Supply and demand for the $CFLU token will determine its price valuation on the open markets.
- Utility: $CFLU token grants holders access to the platform and to engage in activities such as voting for projects and influencers.
The growth of the platform will also depend on the trading volume and usage of the $CFLU token. Each $CFLU transaction contributes to the overall growth of the platform through a 5% tax fee where 2% is used to boost liquidity, another 2% is distributed to token holders and the remaining 1% is reserved for marketing.
How to Buy CFLU?
Investors can back the Coinfluence project by buying CFLU here during the ongoing ICO. Coinfluence has already raised more than $3.7 million in the ICO.
There are 40 phases for the ICO. The sale is currently in the 20th phase, and each token is going for $0.0406. The price for each CFLU rises after the completion of each phase.
Key Partnerships and Acquisitions
Coinfluence acquired Weentar (WNTR), a blockchain-based social media platform where every post can be minted as a non-fungible token (NFT) and can be auctioned or sold. This enables creators to monetize their social media posts and experience the best of social media, decentralization, and NFTs, all under one roof.
Conclusion
Coinfluence offers investors access to the next wave of successful blockchain projects, starting with the FLU utility token. The influencer launchpad is a great marketing platform to kickstart worthwhile projects. Coinfluence's success will be driven by the success of the projects it launches as well as the performance of its token - $CFLU - on the open market.
