Coeval (COE)

This page will contain information about the Coeval coin.

The First "Embryo Token"

Monkey Capital first described the Coeval token (COE) as an embryo token. This had multiple meanings, including the potential to receive future, other tokens [see below, First “Option-Swap” (buyback) ], interrelatedness with all other proposed tokens in the Monkey Capital family, as well as potential as a holder of value.

The First “Option-Swap” Cryptocurrency Token:

The Coeval token was the first token issued by Monkey Capital. Unique to COE was the fact that it was represented as the first future option (or “option swap”) on another cryptocurrency (MNY). However, despite being marketed as a swap, this token was actually intended to be repurchased (a buyback) thereby ensuring that Monkey Capital would not violate any SEC regulations. MNY (ether based) was to be issued at a later date to COE holders at the ratio of 10,000 MNY per 1 COE, and the COE token holder would still be allowed to keep COE. that would be issued at later date At the time, Bitcoin was approximately $2500 usd, and COE was released at a price of .004 COE, or $1usd.

Release:

COE was first released on the Waves platform in early July, 2017. Initially it did not have a "green tick" issued by the waves platform, indicating a verified asset. Subsequently it receive the "green tick" and price appreciated. COE was then listed on the Coss and Cryptopia Exchanges. In Approximately August, 2017 COE was listed on coinmarketcap.com. It rapidly appreciated and reached a high of approx 0.5 BTC. However, due to conflicts with the Waves platform (see other section regarding Waves conflict) the "green tick" was removed and then market cap of COE declined significantly. Of note, for a brief time Monkey Capital had 2 tokens (COE and MNY) in the top 50 of coinmarketcap. COE continued to be traded on Waves during the buyback and issuance to Ether based tokens.

Buyback:

COE underwent a buyback and separate issue of Ether based Monkey assets, PRE (ether based) and MNY (ether based) at the rates of 21 PRE and 22.66282158 MNY. Of note, despite the need to make a number of changes to the issuances, the structure of the token releases, and regulatory changes, Daniel M. Harrison kept the original commitment of an additional 10,000 MNY per 1 COE that he had pinned in the Monkey Slack in early July, 2017. The 10,000 MNY was to be released over the course of 1 year with 27 MNY deposited into the wallet of the COE holder, irrespective of whether the wallet holder sold the PRE and MNY assets that the wallet received upon the initial buyback.