$CNC Token

Utility

The $CNC token is the apex premium currency of the Captain & Company ecosystem, with four key utilities outlined below.

1. $CNC balances are used for governance votes to direct new features

2. $CNC can be placed in liquidity positions (LPs) to earn fees

3. $CNC can be staked on capnco.gg to earn Doubloons & event currencies via Governance

$CNC has a key deflationary burn mechanism, where 1% of the fees the game collects for crafts and Auction House trades are burnt.

Nodes & Distribution

There is no pre-mine of the $CNC token. The $CNC token is distributed by way of a user-operated node network, with 100% of all $CNC tokens being distributed to node operators. The maximum supply of the $CNC token is defined by the number of nodes circulating multiplied by 10,000. You can confirm the total number of nodes sold here.

Nodes run server computation that may be important to game logic in the future, and further serve to secure and decentralize the game network. Node operators are rewarded with $CNC tokens, which are continually emitted over a four-year period and can be claimed via the claims portal at any time. Initiating a claim for available $CNC tokens comes with a variable short lock schedule to ameliorate supply shocks around major unlock timings.

• 0 day lock keeps 25% of claim, burning 75%

• 30 day lock keeps 50% of claim, burning 50%

• 60 day lock keeps 75% of claim, burning 25%

• 90 day lock keeps 100% of claim, burning 0%

If you do not wish to operate your own node servers, you can stake your nodes into a delegation pool to have another user operate them on your behalf.

33% of all ETH used to purchase nodes in the public phase will be reserved by the Foundation and placed by an external market maker into a liquidity pool paired with $CNC to provide market depth.

The Foundation participated in the node sale itself to secure enough nodes to provide ecosystem incentives in the future, and purchased 100,000 nodes for reserve, and an additional 50,000 to distribute to users who participated in the Early Access Play-to-Nodedrop campaign.

Node tutorials are available in the blog, and video walkthroughs are available in Discord here and here.

The pricing schedule for nodes, which may be amended, is below.

Tier	Nodes	Price (ETH)	Est. MC ($)	Tier	Nodes	Price (ETH)	Est. MC ($)	Tier	Nodes	Price (ETH)	Est. MC ($)
1	50000	0.0025	$187,500	11	36950	0.0155	$11,069,749	21	27300	0.0966	$114,290,201
2	48510	0.0030	$443,463	12	35850	0.0187	$14,291,790	22	26490	0.1159	$141,806,792
3	47060	0.0036	$786,674	13	34780	0.0224	$18,324,834	23	25700	0.1392	$175,597,709
4	45660	0.0043	$1,240,580	14	33740	0.0269	$23,358,556	24	24930	0.1671	$217,044,667
5	44300	0.0052	$1,834,260	15	32740	0.0323	$29,625,612	25	24190	0.2006	$267,829,601
6	42980	0.0062	$2,603,763	16	31760	0.0387	$37,409,651	26	23470	0.2408	$329,993,366
7	41700	0.0075	$3,593,696	17	30810	0.0465	$47,057,701	27	22770	0.2890	$406,013,746
8	40460	0.0090	$4,859,173	18	29900	0.0558	$58,994,349	28	22090	0.3470	$498,897,695
9	39250	0.0108	$6,468,019	19	29000	0.0670	$73,735,166	29	21430	0.4165	$612,292,876
10	38080	0.0129	$8,503,900	20	28140	0.0804	$91,911,424	30	19960	0.5000	$750,000,006

The estimated market caps (MC) shown in the table are calculated at an ETH price of $1,500.

Contract Addresses CNC (Abstract): 0xD3844AcCa3562b52a22e46fb56C5c29b621b0d33 CNC (Ethereum): 0xB8F7709ef495a459e69BC7bCbABAadB80462f2A6 Uniswap v3 CNC-WETH (Ethereum): 0x0534464ea6194F8180dD8aa1E8011F9ed7881780 Reservoir v3 CNC-WETH (Abstract): 0x7c574bd85e04251925e04a17679c846b63ca916f

Proof of work nodes that produce the $CNC token have not been offered as securities, and purchasers of these or any other Captain & Company-affiliated digital assets should have zero expectation of profit, irrespective of the plans and ideations outlined in this conceptual paper. Furthermore, public claim functions and liquidity pools are not be available to any participant with a US, Cuba, Iran, North Korea, Syria, or other OFAC-sanctioned IP address. See Disclaimer for more info.