The global cannabis market is estimated to be worth approximately $27.7 billion annually.
Cannacoin PAY ($PAY) aims to serve as a store of value, a medium of exchange, and a unit of
accounting within this burgeoning industry.
The token is designed for the legal purchase of cannabis products by adults, where regulated
by law, providing a specialized cryptocurrency solution for the global cannabis market.
Executive Summary
Project Name: Cannacoin PAY
Token Symbol: $PAY
Industry: Cannabis
Max Supply: 42 Billion PAY
Crowdfunding Goal: 4.2 Million USDT (Tether)
Target Market: Global Cannabis Industry
Unique Selling Proposition: A specialized cryptocurrency designed to serve
the cannabis industry, with robust anti-gray trading features and rewards for holders.
Tokenomics
Liquidity Pool: 1% (420 million PAY)
Crowdfunding: 10% (4.2 billion PAY)
Team and Founders: 20% (8.4 billion PAY)
Advisors: 5% (2.1 billion PAY)
Investors: 15% (6.3 billion PAY)
Reserve Fund: 15% (6.3 billion PAY)
Community and Ecosystem: 20% (8.4 billion PAY)
Marketing and Partnerships: 10% (4.2 billion PAY)
Legal and Compliance: 4% (1.68 million PAY)
Tax Mechanism
Tax Rate: 6.9%
Distribution: To token holders
Purpose: To discourage swing trading and gray trading activities while rewarding long-term holders.
Exemption for whitelisted users
Hybrid Whitelist Vesting Mechanism
Initial Whitelisting: Automatic for ICO participants or governance voters.
Base Vesting Period: Initial whitelisting for a fixed period (e.g., 3 months) extendable through active participation.
Activity Milestones: Extend whitelisting or earn rewards by reaching milestones like governance participation.
Time Milestones: Special rewards at different intervals (e.g., 3, 6, and 12 months) for long-term holding.
Expiry and Renewal: Users notified before expiration with the option to renew through activity or token holding.
Benefits for Whitelisted Users
Tax Exemption: No transaction tax for whitelisted transfers.
Priority Access: Early access to features, updates, and partnerships.
Special Rewards: Additional airdrops or bonuses based on activity and time milestones.
Governance Rights: Higher tiers offer more voting power.
Incentives for Maintaining Whitelist Status
Loyalty Bonus: One-time airdrop of 100 Cannacoin PAY tokens after 6 months.
Extended Bonus: Additional 200 Cannacoin PAY tokens for maintaining whitelisted status for 12 months.
Dispensary Discounts: Eligibility for exclusive dispensary discounts with longer whitelist status.
Community Recognition: Badges or NFTs for extended whitelist status.
Investment Opportunity
Initial Coin Offering: 0.001 USDT per PAY during crowdfunding.
Use of Funds: Development, marketing, legal compliance, and ecosystem growth.
Lock-up Period: 6 to 12 months, in line with industry standards.
Vesting Schedule for Team and Advisors
Cliff Period: 6 months
Vesting Duration: 24 months
Monthly Release: Tokens released linearly after the cliff period.
Anti-Gray Trading Strategies
Transaction Limits: To prevent pump and dump schemes.
Cooling-Off Periods: To deter high-frequency trading.
Sliding Tax Scale: Variable tax rates based on transaction size or frequency.
Whitelist/Blacklist: For approved or disallowed addresses.
Community Voting: For governance and rule changes.
Multi-Signature Approvals: For significant contract changes.
Automated Monitoring: To identify suspicious activities.
Third-Party Audits: For smart contract security.
KYC/AML: Robust identity checks via Jumio.
Sliding Tax Scale Mechanism
Objective: To discourage swing trading and gray trading activities while rewarding long-term holders and active participants.
Criteria for Tax Adjustment:
Transaction Size
Transaction Frequency
Holding Duration
Example Tax Rates:
Standard Rate: 6.9% tax on transactions.
High-Frequency Trading: 10% tax if more than 5 transactions occur within 24 hours.
Large Transactions: 8% tax on transactions that move more than 0.1% of the total supply.
Long-Term Holding: 4% tax for accounts that have held tokens for over 6 months.
Whitelist Exemptions: Whitelisted accounts could be exempt from taxes or enjoy reduced rates.
Project Roadmap (Subject to change)
Q1 2024: Crowdfunding and Initial Liquidity Pool Setup
Q2 2024: Platform Beta Launch
Q3 2024: Full Platform Launch
Q4 2024: Expansion into additional markets
Risk Factors and Mitigations
Risk Factors
Regulatory Risks: Compliance is crucial due to the cannabis industry focus.
Market Risks: Cryptocurrency markets are volatile.
Technology Risks: Smart contracts will be audited, but risks remain.
Mitigating Risks
Regulatory Risks: Compliance with local laws and regulations will be prioritized. Legal advisors will be consulted to navigate the complex regulatory landscape.
Market Risks: Diversification of the reserve fund to hedge against market volatility.
Technology Risks: The smart contract will undergo third-party audits to ensure security and reliability.
Additional Features
DAO Governance: A Decentralized Autonomous Organization (DAO) is tentatively planned to allow token holders to participate in governance.
Smart Contract Audit: The contract will undergo a third-party audit to ensure its security and functionality.