Token Model Booting — Week 3 (10/14 ~ 10/20)

Following the minting for DApp Operator(DO) on the week 2, we initiated Marketing Project on Main-net.

1. Maketing Project

COSM, the token used in Cosmochain, is used within 1) the “Ecosystem” of consumer (user), beauty brands, retailers (channels), and user platforms and 2) so called “Market” where holders or interests groups can make COSM transactions. Marketing Projects cover the area of Ecosystem where consumers, brands, channels, and platforms transmit their value.

Within this Ecosystem, Cosmochain provides strict rule which can protect interest groups’ rights and restricts the flow of tokens (CP and COSM) as illustrated in below. The following explanation focuses on 1) definition of CP and COSM and 2) how CP ↔ COSM flow works.

1. CP (Cosmo Point) : CP is a token that facilitates the value flow within Ecosystem. The value transfer of CP to COSM is 1:1, which indicates that the total supplying CP volume equals to that of COSM

All interest holders can acquire and use CP based on the pre-defined exchange rules within Ecosystem. In order to transfer CP value to different interest holders, CP must be converted to COSM.

2. COSM (Cosmo Coin) : COSM is a token that facilitates the value flow within Market. In order to use COSM within Ecosystem, COSM must be converted to CP

In order to facilitate COSM and CP conversion, Cosmochain uses CEC (Cosmochain Exchange Counter), which is a combined system of smart-contract and accounts. Main role of CEC is to convert CP to COSM and vice versa, which indicates that the token volume of COSM and CP that held by CEC is always the same. In addition, if the burn of CP and COSM happens, all tokens are sent from CEC to BURN wallet and proceeds the afterwards process.

Within Cosmochain Ecosystem, there are 4 major stakeholders — Consumer, Brand, DO, CO. Each stakeholders have independent account.

1. CONSUMER: Consumer designates beauty consumers and can participate in Marketing Project by contributing its behavior data. Contribution of consumers is rewarded by CP and consumers can spend their CP by purchasing products or applying free-trial events.

2. BRAND: Brand designates beauty brands and can use CP in order to promote their products or initiate review-writing events or free-trial events etc. CP can be used by brands in order to purchase beauty data & insights.

3. DO (DApp operator): DO designates the service providers which connect beauty brands and consumers. Consumers rely-on various beauty services or platforms, which all are good examples of DO. DO can attract value by achieving a portion of CP flows that are maintained within Cosmochain Ecosystem.

4. CO (Chain operator): CO is responsible for facilitating the expansion of Cosmochain Ecosystem and maintaining DO services on-track within Ecosystem. CO acquires CP by splitting the profits that DO’s make.

Token Model Booting — Week 4

On the fourth week (10/21 ~ 10/28) of token model booting, data projects will be initiated on main-net.

** Plans for token economy implementation can be modified depending on the development status.

About Cosmochain

Cosmochain is a blockchain project based on beauty data, founded in March of 2018. We aim to contribute to the development of beauty ecosystem by systematically managing data incurred within beauty industry, and data to those in demand through our platform,

On June 2019, Cosmochain launched its main service “FitsMe” based on the 1.5 million data points incurred through its pilot service. So far, FitsMe is performing well, ranking 6th within Beauty Category of Google Play Store, with an MAU of 20,000 people.

Cosmochain Official Channels

● Cosmochain Web: https://cosmochain.io/
● Telegram(Announce): https://t.me/cosmochainannouncement
● Telegram (KOR): https://t.me/cosmochain_english
● Telegram (ENG) : https://t.me/cosmochain_global
● KakaoTalk(KR): https://open.kakao.com/o/gAMfQpU
● Medium : https://medium.com/Cosmochain
● Twitter: https://twitter.com/cosmochain