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CRST usecase

The native cryptographically-secure fungible protocol token of the Coorest Platform (ticker symbol $CRST) is a transferable representation of attributed governance and utility functions specified in the protocol/code of the Coorest Platform, and which is designed to be used solely as an interoperable utility token thereon. Medium of Exchange. $CRST is a utility token that will be used for voting and staking on the Coorest Platform in a decentralized manner.
The secondary market pricing of $CRST is not dependent on the effort of the Coorest team, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.
Staking
Coorest is a blockchain platform that utilizes $CRST and $CCO2 tokens to incentivize participation and contribution to its ecosystem. $CRST is a critical component of the platform as it is used to incentivize users to expend resources to participate in activities or provide services that benefit the entire ecosystem. In turn, $CCO2 is used to generate sustainable staking rewards.
To create a self-sustaining ecosystem, Coorest has designed a staking model that utilizes on-chain $CCO2 token fees. These fees are collected from various activities and services offered on the platform, such as claiming (8%), transfer(0.2%), and burning fees(0.2%). A portion of these fees is distributed to users who stake $CRST as an incentive for their participation and contribution to the ecosystem.
Coorest's staking model is sustainable because it creates a symbiotic relationship between $CRST and $CCO2 tokens. Users who stake $CRST are rewarded with a share of the on-chain token fees generated by the platform, which incentivizes them to continue participating and contributing to the ecosystem. Additionally, the use of $CCO2 token fees ensures a steady and sustainable stream of revenue, which supports the growth and development of the platform. Finally, the staking model has built-in economic incentives that encourage users to hold onto their $CRST tokens, which helps to create a stable and sustainable staking model.
Overall, Coorest's staking model is designed to create a self-sustaining ecosystem that rewards participation and contribution while generating sustainable staking rewards.
Voting
Coorest wants to democratize platform governance through voting via snapshot. Certain aspects of the platform will give Coorest token holders who stake their $CRST, voting rights, to be able to influence how the platform is run and the types of investment opportunities available. A vote is put up when Coorest has made some votable items
Examples are given below on how this will work
  • Voting on new additions to the Coorest platform
  • Vote on changes to mechanisms for staking or liquidity pools
  • The right to put up new projects of interest
The right to vote is restricted solely to voting on features of the platform; it does not entitle $CRST holders to vote on the operation and management of the Company, its affiliates, or their assets or the disposition of such assets to token holders, or select the board of directors of these entities, or determine the development direction of these entities, nor does $CRST constitute any equity interest in any of these entities or any collective investment scheme.
$CRST does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise, or undertaking, nor will CRST entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in any relevant jurisdiction. $CRST can be utilized on the Coorest platform, and ownership of $CRST carries no rights, express or implied, other than the right to use $CRST as a means to enable usage of and interaction within the Coorest Platform.
Gain access to Coorest products
The CRST token will be needed to gain access to the following products:
Staking / Locking the CRST token acts as a safeguard against malicious behavior. If someone attempts to engage in malicious behavior, their stake will be slashed, meaning they will lose a portion of their tokens.