COLE: Trade coins for favors in school

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Cole coins solve one problem: how to pay for a favor.

In our school, favors are often payed either with money or with something as “I’ll give you the favor back when you need it”, but some times you don’t want to pay money, and the other option is too vague.
This coin effectively build trust between any student.

What is Cole Coin?

Is a way to say that you “own” a favor. You simply ask for COLE in exchange for a favor, depending in the difficulty of the favor.

How to get Cole Coins?

  • You get 5 COLE for the first time you join the project.
  • For every friend you bring to the project, you earn 1 COLE.
  • Do some favors and ask for COLE.
  • Try to buy them to someone.

Me and my brother @Leonardo_Arguello have a bank account in which we have all the cole coins that are not yet in circulation.

So you and your brother are rich in favors?
No, we won’t steal any COLE form the bank account, as that will affect the project. We, as anyone else, only got 5 COLEs each in our main accounts. We believe in this project, and we won’t harm it by getting free COLE.

How do you, as a student, benefit from COLE?

  • Do favors with more confidence. You can be sure someone deserves a favor if he has COLE, and he’s more likely to give you the favor back in the future.
  • More control over the favors you own or give.
  • No need to pay real money.
  • Ask for any quantity of COLE you want; set a price for every favor, depending on the difficulty.

What can the devs of Incognito can do to help us?

As explained in this post, non-verified coins don’t show transactions, so we need to have this coin verified. This will also prevent people issuing and duplicating the coin, so this will give a much higher sense of confidence to students.

When and where is the project going to be released?

This is planed to be a local project in our school after the vacations, somewhere in August. @Leonardo_Arguello will get be in charge for telling high school students, and me to the university students. Well make tutorials on how to use the app and explain people how Incognito works if they ask.

How can this help to the Incognito network?

We think this coin will have a huge impact in our school, since it solves a real problem. And so…

  • It will help people get used to cryptocurrencies.
  • Potentially attracting more people into buying and investing in Privacy.
  • The number of transactions within the blockchain will increase.
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Looks like a great project.
Here are instructions to get an issued coin verified.

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I see, but how then does the PERKS got the verified badge? That coin doesn’t even have a picture, nor a website or an email.

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That was an early adopter, and you already found the extra information on that.

What is the problem?

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It just seem unfair.

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Whatever we did in the past is irrelevant now.

To make user issued coins that are used for a specific project stand out, we have the checkmark. You do not have to use it, but you can.

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Which part of the requirements seems impossible to do to you?

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I’m working on the webpage. I already have the webpage in my computer, and I asked for a free domain and free hosting to googiehost.com. I don’t know if they are going to give me the email, maybe they will.

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Since it is a school project, it would work just as fine to have the information available on the school website and supply an email address that matches the schoolwebsite.

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We aren’t affiliated with our school. We are not mentioning it in our webpage.

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@Jamie, I have two questions:

  1. If the project expands and more people demand the coin, and at some point our bank runs out of COLE, is it possible issue more coins?
  2. If two students download the app using the internet of the school, are they still going to receive the 0.1 PRV? My brother didn’t received his 0.1 PRV, and I’m guessing is because we were under the same internet.
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Hey, @J053 contrasts with issuing your own coin! :tada: :confetti_ball: :balloon:

it’s always an exciting moment of creating something from scratch!

Good luck with $COLE coin and can’t wait to see it on Incognito DEX.

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Hey @J053, if you have plan for listing your token, I can support you.

Regarding the questions you have above, issuing token is the one time thing, so you can not issue more coins on the market.
We are currently restricting apps using the same wifi IP address to receive 0.1 PRV, if you already received it, then another device using the same IP, will not receive it.

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That could be a problem… What can I do if most of our users download the app from school? Will they get their 0.1 PRV when they come back home?

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Thanks for the kind words! Although, we are not planing to give COLE a monetary value, since the hole point is to do a favor without money, giving it a monetary value will make the coin worth less. What do you think?

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I’m afraid not, but here’s what u can do. Give them the homework the day before, ask them to download the application when they are at home. For those you forgot to download at home, you can just simply send them 0.05 PRV/each student, that’d be more than enough to cover the fee.

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It’s totally ok, do not back it by money, but think in a bit another way. If some of your friends creates own coin, Incognito DEX is a way where you can exchange them in a fully decentralized way. Maybe this will be a better fit than just trade it against money.

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Might be worth mentioning that any smartass kid can start a trading pair on pDEX for the coin, once they get the hang of things and have both, your coin and some PRV.

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No, you can’t issue more coins later on. You could start a new coin and trade in the old ones 2:1 or something.
Your other question has already been answered by Henry.

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Can delete the coin and issue the same coin again with more tokens?

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