San Francisco, April 16th: Cove, the first onchain portfolio manager that eliminates loss-versus-rebalancing, has announced a strategic partnership with Bazaar, the decentralized and chain-agnostic launchpad. This collaboration is set to revolutionize the way Cove engages with its community by offering a fair and accessible opportunity to participate in the $COVE token launch. $COVE is at […]
The post Cove Partners with Bazaar for Pioneering $COVE Token Auction to Decentralize and Bootstrap Protocol Liquidity appeared first on Coin Edition.
San Francisco, April 16th: Cove, the first onchain portfolio manager that eliminates loss-versus-rebalancing, has announced a strategic partnership with Bazaar, the decentralized and chain-agnostic launchpad. This collaboration is set to revolutionize the way Cove engages with its community by offering a fair and accessible opportunity to participate in the $COVE token launch.
$COVE is at the heart of the Cove ecosystem, which also includes Boosties, the first dedicated liquid locker and staking platform for Yearn. Storm Labs, the company initially developing the protocol, recently announced $3M in a pre-seed fundraising round led by Electric Capital, with participation from Accomplice, Robot Ventures, and Daedalus. The main Cove Protocol is expected to launch in Q3 2024.
The auction for 9.5% of the $COVE supply is designed to democratize access to token distributions, ensuring an equitable and transparent process that stands in stark contrast to the often criticized first-come, first-served models. In an uncapped batch auction, participants receive a proportional share of tokens based on their contribution relative to the total amount pledged. This ensures fairness …
The post Cove Partners with Bazaar for Pioneering $COVE Token Auction to Decentralize and Bootstrap Protocol Liquidity appeared first on Coin Edition.
