Token distribution strategy

Dear valued community,

To begin, allow us to share our immense gratitude to everyone who came to support our IDO yesterday. Seeing Castle of Blackwater achieve these new heights, has really been a magnificent moment of reflection to us and the team. It’s made all the years of hard work and determination pay off in a way that’s hard to put into words. Thank you all; without you there is no us.

As we embark on the next amazing milestone from Castle of Blackwater, we wanted to take this opportunity to clarify a few key elements surrounding the IDO, TGE and any related airdrops. Let us start by reiterating how challenging it is to find the perfect balance between incentivising support, and safekeeping the long-term sustainability of the ecosystem.

With our upcoming TGE date approaching rapidly, the time has come to create more clarity surrounding the distribution of the private sales, public IDO sales, and the incentivised programs that we have executed throughout our history.

BEAM / ETH $COBE
The first thing we should clarify relates to our multi-chain token approach. With Ethereum gas fees back to record levels, we never would be able to airdrop all of the token distributions to the thousands of wallets that are supposed to receive them. Yet having an ETH-based token was imperative for exchange listings and creating a UniSwap DEX pool. We also didn’t want to just burden all of the users with gas fees by forcing everyone to claim their tokens from an Ethereum smart contract every month.

Therefore, the decision was made to dual-launch $COBE on both ETH chain and BEAM chain. The maximum supply of $COBE between these two contracts will never exceed 100M tokens, and BEAM $COBE can only be created when it is bridged from ETH $COBE. Bridging will be available on TGE at https://bridge.onbeam.com/.

To facilitate a healthy trading environment, we will create a liquidity pool on:

UniSwap – $COBE (ETH) / ETH

BeamSwap – $COBE (BEAM) / BEAM 

In the following chapters, we will specify which version of $COBE you should be expected to receive.

Seedify IDO Participants
Seedify has their own token claiming infrastructure, which unfortunately does not support Beam chain tokens. Therefore, participants of the Seedify IDO will be able to claim their $COBE in ETH format, directly from the Seedify claiming page.

On the bright side, Seedify’s platform features a block-per-block vesting schedule, meaning participants can claim at their own convenience whenever they want to.

Avalaunch IDO Participants
Avalaunch’s infrastructure was incompatible with both the ETH and BEAM token contract. Therefore, we will be airdropping the participants their allocated $COBE on BEAM chain, according to their weekly vesting schedule.

If you participated in the Avalaunch IDO, all you need to do is add the Beam network to your wallet provider, and watch your tokens land safely in your wallet when we airdrop them. For a more detailed explanation, Avalaunch has prepared the following blog (click here) that goes into more details of how to navigate the Beam ecosystem. Make sure the wallet you provided is not a Safe multi-sig wallet, but a regular EVM-compatible wallet will do (eg: MetaMask).

NeoLaunch IDO Participants
NeoLaunch IDO participants will also be receiving their allocation in $COBE on Beam chain, which will be directly airdropped to their EVM wallets. Make sure the wallet you provided is not a Safe multi-sig wallet, but a regular EVM-compatible wallet will do (eg: MetaMask).

Private Sale participants
Earlier this year we concluded a select round of private token sales, in an effort to get some additional funding to facilitate the TGE process, and to gain more strategic partners and advisors.

Participants of the Strategic Sale will be airdropped their allocation in $COBE ETH tokens (due to many of these going to a multi-sig), whereas all other Private Sale participants will be airdropped their allocation in $COBE BEAM tokens.

NFT Staking
Shortly after our first NFT sale, when our community was only a few hundred people strong, we created an NFT staking protocol. Our earliest supporters, who took the biggest risk on us and trusted us just enough funding to create the first prototype, would one day be rewarded with tokens depending on how many NFT’s they had and how long they held them.

Despite hesitation from our close advisors about the generosity of this arrangement, we aspire to remain true to our word. However, in an effort to compromise for token sustainability, we have been advised to find ways to spread out this circulating supply inflation through vesting and game-related staking incentives.

Therefore, the compromise was found that 25% of the NFT Staking allocation will be unlocked at TGE into a new “cosmetic staking protocol” that is currently in development. These tokens will be automatically staked for 28 days, which the user will receive xCOBE for. More information about xCOBE can be found further on in this article. After 28 days of staking, users are free to claim the $COBE from the staking protocol back to their wallets, or re-stake them for extra rewards if they wish to do so.

The remaining 75% of the total NFT staking allocation will be airdropped to participants over a 12-month period, starting 2 months after TGE has occurred. All of these tokens will be airdropped in $COBE BEAM tokens.

Image 1: prototype image of the staking section

Play2Airdrop Rewards
The Play2Airdrop campaign was an initiative set-up to help us test our systems at scale. It was very successful in helping us reach a much larger audience than ever before, which led to us receiving mountains of valuable feedback, suggestions and improvements. Although we did see a substantial number of bots and farmers trying to cheat the essence of the campaign, we also found a lot more fans and engaged players that connected incredibly with our community. Our main mission now is trying to see how many airdrop participants we can convert to long-term players of Castle of Blackwater, even after the campaign finishes.

Participants in the airdrop campaign were battling out over a max 500,000 $COBE prize pool, accounting for 0.5% of the total token supply. To ensure participants are given plenty of opportunity to engage with the ecosystem, the decision has been made to also automatically stake this entire allocation in the upcoming cosmetics staking protocol for 28 days. This way, participants will receive free xCOBE, which they can spend on limited edition COB cosmetics, and will be able to return to claim (or re-stake) their real $COBE at the end of their initial locking period of 28 days.

Other than the $COBE being locked in the staking protocol for 28 days, there will be no additional vesting afterwards for this airdrop.

Image 2: prototype image of the xCOBE marketplace

Exclusive Cosmetics Staking Protocol
As mentioned earlier, we’re working on an exclusive cosmetic staking protocol that will offer exciting cosmetics rewards for participants that temporarily lock up their $COBE tokens.

Participation in this protocol will happen through a special portal on our website. Here, $COBE holders will be able to deposit a quantity of $COBE tokens in a smart contract, and decide for how many weeks they want to lock up their tokens. In exchange for locking $COBE, users will receive xCOBE, an off-chain shop currency that cannot be traded, withdrawn or moved around. The higher the lock-up time, the more xCOBE you will receive, at an exponentially increasing rate.

xCOBE holders are free to spend their xCOBE in the limited-edition cosmetics shop, and doing so will not impact your locked $COBE in any way. Simply spend the xCOBE by buying exclusive skins, items and animations. At the end of your lock-up period, you may choose to withdraw your $COBE back to your wallet, or re-stake for additional xCOBE.

The cosmetics in the shop will all have a fixed maximum supply, and will only ever be made available for a limited time in this shop. Whenever a cosmetic sells out, it will be removed from the shop and soon replaced with a new one.

To encourage use of this new staking incentive, initial community incentive airdrops from the 2022 NFT staking initiative and the play2airdrop campaign will all be staked for a minimum of 28 days.

Image 3: prototype image of the xCOBE marketplace inventory overview

When TGE?

As of right now, we’re doing everything we can to achieve our ambitious target of TGE on the 29^th of March. However, there is still a lot of work left to do, and many third-party dependencies that are out of our control.

Depending on how quickly we can get everything in order, it is possible that the TGE date could be delayed until the 1^st or 2^nd of April. As soon as we can confirm a specific date and time, we will announce it to the world.

We’re already listed on CoinMarketCap & CoinGecko and the valid links are:
CoinMarketCap: https://coinmarketcap.com/currencies/castle-of-blackwater/
CoinGecko: https://www.coingecko.com/en/coins/castle-of-blackwater

Final Words
We hope that this article provides many with the clarity they need to prepare for our TGE. Please note that our token is not yet live currently, and any Castle of Blackwater related tokens trading right now are scam tokens.

We’re incredibly proud to see how far we’ve come since our humble beginnings, and are endlessly grateful to our community of supporters who have stood by with us along the way. We will continue to find ways to engage with and show gratitude to our fans, and look forward to continuing to challenge each other in the castle!

As more news comes out, we will keep you all informed. If you have any questions, feel free to join our Discord.