[NEWS] What is the CORION Foundation?18 July 2020
What is the CORION Foundation ?
CORION Foundation sets our foundation apart from other cryptocurrencies. There is no traditional centralized profit-driven organization in CORION. Instead, the CORION Foundation was created to support the CORION Platform in unique ways. The fund complies with all regulations and is registered in Zug, Switzerland’s Crypto Valley.
Corion Foundation was founded in 2016. It was founded with the purpose of helping to develop and spread stablecoins and trusted cryptocurrencies around the world.
Corion’s purpose is to encourage the adoption of stablecoin, DeFi, CBDC worldwide and to help young people who do not have access to swift and a safe, cheap OpenFinance. We are supporting all projects working on such developments and focusing on customer acquisition and infrastructure. Corion Foundation is here to create a common platform for such projects, because their main application is our main goal. We are determined to make use of this new digital currency available to most electronic and financial wallets, thus making them accessible to more regions.
What is Corion X Token?
CorionX as an utility token stands for the adoption, usage and spreading of stablecoins, CBDCs, Openfiance, Crypto and DeFi solutions. Introducing them to the world and supports the collaboration of the community. CorionX creates the one platform for stablecoins and leads the #MoneyInTheRightDirection Movement to succeed in the paradigm shift and using crypto as a digital and programmable money. CorionX is the “gas” for a stablecoin and crypto infrastructures. CorionX provides benefits in usage and trading of stablecoins and DeFi cryptos to its users. Acquire, Stake, Use.
Corion Foundation Hypothesis ?
In case the automatic price stabilization does not maintain the price of 1 CORION by about 1 USD, our Stability Fund will be used to make necessary adjustments. Interventions will be increased or decreased as needed from cryptocurrency and fiat funds or CORION. The use of the Stabilization Fund to stabilize prices will be published on the official announcement platform, www.corion.io. Stable funds will be used primarily from the start, while the community and use cases are growing faster, causing volatility. After reaching a certain number of users and businesses, the total money supply will provide enough stability to avoid significant price fluctuations.
Developing and investing to make the Platform more appealing to all users will also be an important function of the CORION Fund. The CORION team welcomes new, creative, skilled members as we continually develop our ecosystem for improvement. We encourage all innovations from Crypto, Blockchain and FinTech World, to contribute to improving the CORION Platform.
The fund will fund other profitable FinTech projects. All profits from these joint ventures will be distributed with CORION Coins to the owner of the Premium Token corresponding to the number of their tokens. (Read more in our business white paper.)
The Fund also received a growth rate of 02.5% daily on unused funds (Stability Fund and Development Fund). Emissions will be added in proportion to the amounts and / or transferred to the CORION game group if needed.
As a service provider, the Fund will be involved in the supply of coin emission. It will only provide 50% of the daily supply growth for connected users, encouraging competition among Service Providers by challenging them to offer more compelling services than the Foundation. The profits are then transferred to the Stability or Development Fund or CORION Game Group if needed.
The Foundation helps launch Service Providers by lending accounts with the necessary funds to applicants who do not have enough money to start a business on the CORION Platform. The fund accounts for only 10% of total revenue for this service.
Integrated P2P CORION (Market) exchange costs 0.25% per transaction, transferred to the Fund.
As part of deflationary methods, every transaction has a CORION Coin maximum transaction fee of 0.02%, minimum and 5.00%. 80% of transaction fees will be eliminated (burned) and 20% will be transferred to the CORION Game award group.
Supporting effective marketing activities is an important function as well. The Foundation will arrange meetings, attract influencers and facilitate speakers at events and conferences. In this way, we will continue to leverage the platform and attract value-added investment opportunities. Connecting the mainstream to the Cryptocurrency World through the application of CORION.
The charity will be donated by the Foundation to donate a certain amount of CORION to promote small communities and struggling economies in third world countries.
The Fund will be responsible for communicating with users, such as announcements, news and updates, as well as setting a time period for voting.
In addition, the Foundation will continuously collect contributions from various donors, those willing to support innovative financial technology and unbiased people around the world.
CORION Fund’s main goal is to reinvest all due funds
The platform was created to stabilize and develop it further. This unique, innovative platform keeps CORION cryptocurrency and our community alive and active, stimulating.
Author : phungploi