# $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](https://snapshot.box/#/s:capncompany.eth) to direct new features
2. $CNC can be placed in [liquidity positions (LPs)](https://kap.foundation/) to earn fees
3. $CNC can be staked on [capnco.gg](https://capnco.gg) to earn Doubloons & [event currencies](https://docs.capnco.gg/game-guide/how-to-play/4.-currencies) via [Governance](https://docs.capnco.gg/game-guide/how-to-play/10.-governance)

{% hint style="warning" %}
$CNC has a key deflationary burn mechanism, where 1% of the fees the game collects for crafts and Auction House trades are burnt. 
{% endhint %}

### Nodes & Distribution

There is no pre-mine of the $CNC token. The $CNC token is distributed by way of a user-operated <mark style="color:orange;">**node network**</mark>, 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](https://kap.foundation/nodes).

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.&#x20;

* 0 day lock keeps 25% of claim, burning 75% &#x20;
* 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%

{% hint style="info" %}
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.
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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.&#x20;

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.&#x20;

{% hint style="info" %}
Node tutorials are available in the [blog](https://blog.capnco.gg/p/cnc-node-mint-guide), and video walkthroughs are available in Discord [here](https://discordapp.com/channels/1049835082438946866/1050348022652993596/1362220993086488788) and [here](https://discordapp.com/channels/1049835082438946866/1050348022652993596/1363316243813236898).&#x20;
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The pricing schedule for nodes, which may be amended, is below.

<table data-full-width="false"><thead><tr><th>Tier</th><th width="83" data-type="number">Nodes</th><th width="128">Price (ETH)</th><th>Est. MC ($)</th><th data-type="number">Tier</th><th data-type="number">Nodes</th><th>Price (ETH)</th><th width="146">Est. MC ($)</th><th data-type="number">Tier</th><th data-type="number">Nodes</th><th width="104.666748046875">Price (ETH)</th><th width="141.3333740234375">Est. MC ($)</th></tr></thead><tbody><tr><td>1</td><td>50000</td><td>0.0025</td><td>$187,500</td><td>11</td><td>36950</td><td>0.0155</td><td>$11,069,749</td><td>21</td><td>27300</td><td>0.0966</td><td>$114,290,201</td></tr><tr><td>2</td><td>48510</td><td>0.0030</td><td>$443,463</td><td>12</td><td>35850</td><td>0.0187</td><td>$14,291,790</td><td>22</td><td>26490</td><td>0.1159</td><td>$141,806,792</td></tr><tr><td>3</td><td>47060</td><td>0.0036</td><td>$786,674</td><td>13</td><td>34780</td><td>0.0224</td><td>$18,324,834</td><td>23</td><td>25700</td><td>0.1392</td><td>$175,597,709</td></tr><tr><td>4</td><td>45660</td><td>0.0043</td><td>$1,240,580</td><td>14</td><td>33740</td><td>0.0269</td><td>$23,358,556</td><td>24</td><td>24930</td><td>0.1671</td><td>$217,044,667</td></tr><tr><td>5</td><td>44300</td><td>0.0052</td><td>$1,834,260</td><td>15</td><td>32740</td><td>0.0323</td><td>$29,625,612</td><td>25</td><td>24190</td><td>0.2006</td><td>$267,829,601</td></tr><tr><td>6</td><td>42980</td><td>0.0062</td><td>$2,603,763</td><td>16</td><td>31760</td><td>0.0387</td><td>$37,409,651</td><td>26</td><td>23470</td><td>0.2408</td><td>$329,993,366</td></tr><tr><td>7</td><td>41700</td><td>0.0075</td><td>$3,593,696</td><td>17</td><td>30810</td><td>0.0465</td><td>$47,057,701</td><td>27</td><td>22770</td><td>0.2890</td><td>$406,013,746</td></tr><tr><td>8</td><td>40460</td><td>0.0090</td><td>$4,859,173</td><td>18</td><td>29900</td><td>0.0558</td><td>$58,994,349</td><td>28</td><td>22090</td><td>0.3470</td><td>$498,897,695</td></tr><tr><td>9</td><td>39250</td><td>0.0108</td><td>$6,468,019</td><td>19</td><td>29000</td><td>0.0670</td><td>$73,735,166</td><td>29</td><td>21430</td><td>0.4165</td><td>$612,292,876</td></tr><tr><td>10</td><td>38080</td><td>0.0129</td><td>$8,503,900</td><td>20</td><td>28140</td><td>0.0804</td><td>$91,911,424</td><td>30</td><td>19960</td><td>0.5000</td><td>$750,000,006</td></tr></tbody></table>

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

{% hint style="info" %}
**Contract Addresses**\
CNC (Abstract): [0xD3844AcCa3562b52a22e46fb56C5c29b621b0d33](https://abscan.org/token/0xd3844acca3562b52a22e46fb56c5c29b621b0d33)\
CNC (Ethereum): [0xB8F7709ef495a459e69BC7bCbABAadB80462f2A6](https://etherscan.io/address/0xB8F7709ef495a459e69BC7bCbABAadB80462f2A6)\
Uniswap v3 CNC-WETH (Ethereum): [0x0534464ea6194F8180dD8aa1E8011F9ed7881780](https://app.uniswap.org/explore/pools/ethereum/0x0534464ea6194F8180dD8aa1E8011F9ed7881780)\
Reservoir v3 CNC-WETH (Abstract): [0x7c574bd85e04251925e04a17679c846b63ca916f](https://swap.reservoir.tools/#/add/ETH/0xD3844AcCa3562b52a22e46fb56C5c29b621b0d33)
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{% hint style="danger" %}
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](https://docs.capnco.gg/resources/disclaimer) for more info.
{% endhint %}