Coffin.Meme ⚰️🩸 | Manifesto📕

Satoshi Nakamoto started a Movement/Rebel almost 16 years ago. Like many great movements in history, It was initiated by idealists and visionaries but ended up being controlled by the greediest and most pitiful.

A Movement once created to disrupt and challenge the people in power. People who have control over your Ownership, your Identity, your Financial Sovereignty. A movement to replace the nation-state paradigm with a whole new architecture. 

So We became the Rebellions. And the more they attacked the Movement the harder they were hit back. They arrested Ross Ulbricht, 100s of new Ross appeared. But they changed their plan. Their new plan worked, I must admit, a brilliant Divide and Conquer strategy!! Once a rebel libertarian and now a fully complied industry. They used their endless paper printing machines(fiat) to divide and distract us.

Privacy became a crime act. KYC became normal. Centralisation were justified as improvement in user experience. Educating users were replaced by airdrops.

Now it's time to take actions together, let's put aside our differences and do what must be done. Let's punish the pump & dump schemers and clean our ecosystem of the parasites.

What is Coffin?

Coffin is a demonstration of collective power. A David against Goliath battleground. A social experiment to see if people are ready to sacrifice together to win together or not.

TON has hundreds of tokens without any real usecase or product. The millions of dollars of liquidity that can help the growth of ecosystem is trapped inside these pools. Coffin allows users to extract these liquidity by short-selling it and earn. Through power of community we can achieve a goal together which seems impossible to do on our own.

What is EVAA?

EVAA is the first lending protocol built on TON that allows you to borrow stablecoins and TON. EVAA provided us exclusive access to their smart contracts so Coffin deployed a forked(a bit modified) version of EVAA smart contracts. This forked version of EVAA is deployed and maintained by Coffin.

A simple example

Take $PEPE for example:

https://www.geckoterminal.com/ton/pools/EQBwOb91RvqrtRg5hpriobYItogJIKVLzkhPmHxmilkuqx4G

A token without any usecase or product, and more than 1.32M$ is trapped inside their pool on DeDust. Now let's use Coffin to solve this situation.

You can simply open a short position by bringing USDT:

1. You will pay 1,000 USDT(e.g.) with leverage 0.5X
2. Coffin will borrow 524,000 $PEPE(~500$) and sell it on your behalf on DeDust( you have already decreased the price of $PEPE!
3. You will receive an NFT for this position which you can sell or transfer your position to a new wallet(please be careful, you will transfer both your debt/collateral)

Your current state is +1,500 USDT in the Coffin and -524,000 Debt in the Coffin.

Now imagine if 100 people do the same and short $PEPE. what would happened? the price of $PEPE will go down and down and your debt will be less and less.

Let's say the price falls 50%, now let's close our position and calculate our earning:

1. First you need to have 524,000 $PEPE(~250$) + a little bit of interest to repay your loan(you can buy it from market)
2. You will pay your debt and then you will receive 1500 USDT back

You will end up with +250USDT profit(almost 25% of your deposit)

And more importantly you participated in a public good:)

I believe in my Shitcoin

Do you believe your shitcoin will grow 100X? No problem, then you can provide liquidity in the lending protocol and earn from the interest fees of loans.

What if price goes up? How can I become a liquidator?

If the shitcoins ended up hiring DWF and tried to increase the price then part of your position will get liquidated by a liquidator.

You can learn more about this process here:

https://evaa.gitbook.io/intro/details-of-protocol/liquidation#liquidation-example

Anyone can become a liquidator in Coffin and soon a tutorial to launch a liquidator bot will be released.

Referral Program

You can earn up to 0.5% directly from every position that is created by your link.

Replace the **** with your address and it's your referral link

https://t.me/MemeCoffin_Bot/coffin?startapp=*******

Let's say your address is: UQBSV_u2NPNNymFZgX0VqRwu2v6cTJo7symgqKFwzcNZ7me4

Your referral link is:
https://t.me/MemeCoffin_Bot/coffin?startapp=UQBSV_u2NPNNymFZgX0VqRwu2v6cTJo7symgqKFwzcNZ7me4

• For the first 14 days of launch of each pool, your referral fee is 0.5% and after that it will be reduced to 0.25% and after 28 days it will be reduced to 0.1%.
• You will directly receive your fee if it's more than 0.5$ but if it's less than that it will be accumulated and sent to you later

FAQ

• What Jettons can be shorted?
  Currently only 3 Jettons($PEPE, $ANON, $HYDRA) but we will list more and more Jettons
• How much are the gas fees?
  To open a position you need to pay ~1 TON but part of it will be refunded.(it costs on average 0.65 TON). To close a position you need to pay ~0.64 TON but more than half of it will be refunded(it costs on average 0.3 TON).
• Can I use higher leverages?
  We may increase the leverage limit soon, but it will remain below 1X.
• What can I use for Collateral?
  Only USDT on TON!
• Could I loose all my money?
  There is always a risk if the token grows too much you might end up getting liquidated over and over and loose almost all your money!

Please follow us on our social channels to get the latest update on Coffin.Meme

Website: https://coffin.meme/

Telegram Channel: https://t.me/coffin_en

Telegram Chat: https://t.me/cemetery_en

Mini App: https://t.me/MemeCoffin_Bot/coffin