In line with the ongoing presale of CVR and the upcoming IEO on Bitforex Exchange, Covir team is using this medium to relay strategic measures to ensure that all pre-sale and IEO participants will get value on their investment.
While we are committed to continue towards delivering on the business end of the project, which includes the receipt and deployment/Production of more biosafety robots from our main partner, Octopus Robots, marketing, publicity and awareness program to show the world why it is essential to decontaminate the environment for the safety of everyone. We have set aside some actions in motion which will ensure the protection and stability of the price of CVR once its listed on exchanges.
We understand that the price of a token varies due to many factors which includes, progress of project, products and services, further development according to roadmap and whitepaper, adaptability e.t.c. Other factors which could affect price early on is the sale of token distributed to the community during marketing and media outreach, quick sale by early investors and more.
Our resolve is to protect all our investors and token holders, this has led us to take the measures below in order to guarantee our investors will always be rest assured of their investment while we work towards securing a safe environment for all.
COVIR PLAN TO PROTECT THE TOKEN / INVESTORS
BOUNTY CAMPAIGN AND DISTRIBUTION
The ongoing bounty awareness campaign on renowned blockchain and cryptocurrency platform, bitcointalk will see a price pool of four million (4,000,000) CVR worth approximately $800,000 which is 1% of the license rights to be distributed among all participants.
- bounty campaign reward will be distributed in four cycles (once each quarter) in a period of one year. This we believe will help to curb mass dump of the token when listed on exchange.
AIRDROP CAMPAIGN AND DISTRIBUTION
The airdrop total reward is $10,000 worth of CVR which will be distributed after the end of IEO to all participants who completed all tasks. The airdrop distribution will be done once.
Covir is planning to set aside active funds which will be used systematically as buy back options that will be activated in anticipation for sell off from the bounty and airdrop participants if the need arises. We expect everyone to realise this is not just another blockchain based project. But as we cannot compel anyone on how to make use of their earned CVR reason we have put in place the option of the systematic buy back in order to stabilize the price in the early days of trading.
QUICK DISTRIBUTION OF ROYALTIES
Based on the royalty plans highlighted in our whitepaper to our investors and holders, we will ensure a rapid delivery of the first royalties without any form delay. Our priorities remain the same, delivery on our roadmap and whitepaper and the protection of all our investors.
As stated below, the royalties works in two (2) phases:
- Octopus Robots sells licenses. 50% of the royalties of its licenses are redistributed to Covir and the remaining 50% remains with Octopus Robots.
- When Octopus Robots sells a product (whatever the product) it includes the patent, and therefore generates up to 10% royalties per product. 5% of these royalties are redistributed to Covir and the remaining 5% to Octopus Robots.
Without any form of price speculation and with all the measures stated above, we believe we will be successful in our objectives to hold the initial price of CVR as we continue to focus on implementing the business part of the project.
More information here : Royalties EN Document
In Summary, Covir plans to do the following to the investors:
- BuyBack the Tokens
-Distribute Rewards for holders
BITFOREX Announcement : https://support.bitforex.com/hc/en-us/articles/360045388112-COVIR-CVR-Premium-Token-Offering-Notice