CobraSwap Tokenomics

The core foundation of the Cobra Protocol is the Cobra (ticker: COBRA) token.
It is aimed to be fairly and widely distributed, with focus on rewarding early and active supporters of the protocol.
COBRA and its role in the VenomDAO ecosystem
We will eventually launch VenomDAO which will be the governance system controlling all the respective ecosystems deployed on all chains we’re active on.
The initial supply minted to provide Liquidity is 5,000,000 COBRA.
COBRA will serve as the governance token for all of the protocols and products that are launched on Binance Smart Chain. At a later stage during 2021/early 2022 the Venom token will be introduced which will serve as the overseeing governance for all of the ecosystems, protocols and products that have been deployed on multiple blockchains.
COBRA can be viewed as having voting rights in a local election (BSC) but also in a national election (VenomDAO). COBRA will carry more voting power on BSC/in the Cobra Protocol compared to the VenomDAO which will include governance votes from all chains and ecosystems.
Hard cap
The COBRA token has a hard cap of 500,000,000 tokens and features an extensive progressive lockup model as follows :
 
99% locked / 1% unlocked for the first week, at an emission rate of 512x
97% locked / 3% unlocked for the second week, at an emission rate of 256x
95% locked / 5% unlocked for the third week, at an emission rate of 128x
95% locked / 5% unlocked for the rest of the minting process
This model is intended to disincentivize heavy farming and selling pressure by participants who aren’t committed for the long-term sustainability of the protocol.
The token lockup mechanism is forked from Bao.finance with some slight improvements and modifications.
The Cobra token will be configured to lock gradually from 99% to 95% of all newly minted supply during the yield farming stage until block 15135850 (approximately 00:00:00 UTC February 14th, 2022).
When block 15135850 has been reached, the locked supply will slowly start to unlock on a block-per-block basis until block 25308760 (approximately 00:00:00 UTC February 14th, 2023).
By the end of 2022 roughly 426 million Cobra tokens are expected to have been minted. Starting 2023 - Q1 the final  500 million cap is expected to be reached. From start to finish it’ll take roughly 7 months time in total to reach the cap. We already published a detailed token emission schedule that you can find Here; we'll also publish detailed figures for locked/unlocked token ratios and much more — so stay tuned!
For comparison’s sake, COBRA’s supply will be 0.5x of Uniswap’s and 2x of Sushiswap’s. It’s worthwhile to mention that the COBRA token will be the governance token for the entire Cobra Protocol and all of the products that will be introduced — not only for CobraSwap.
We’re already planning the next set of products, and future use cases of the COBRA token might include burning COBRA as collateral for synthetic asset collateralization or for e.g. burning COBRA as an incentive mechanism for maintaining an algorithmic stable coin’s peg at $1.
We’re still exploring ideas — but we’re very confident that the 95%/5% lockup system and future token use cases will lead to tokenomics featuring a reasonable cap, circulation and emission schedule.

CobraSwap Withdrawal Fees

CobraSwap Emission schedule

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Outline

COBRA and its role in the VenomDAO ecosystem

Hard cap