MOCA: A New Token Sale on CoinList

The first thing that stands out on the page of this sale is the significant emphasis on the MOCA token, without a clear explanation of the project's essence and concept. While it seems that everything started with Mocaverse, the actual mention of Mocaverse is limited to sections about launch partners and its role as a partner network.

So, it's important to clarify what Mocaverse is.

Mocaverse is a membership NFT collection for the family of companies, projects, investors, shareholders, and partners of Animoca Brands. As such, the project is supported by the company behind the popular game The Sandbox.

What is MOCA?

MOCA is a token developed on the LayerZero V2 protocol, designed to support the Moca Network and fulfill a variety of functions including:

1. Payment for products and services from partners;
2. Payment for transaction fees across different networks;
3. Serving as a loyalty metric within the Moca Network, based on the amount and duration of token holdings;
4. Distribution of ecosystem rewards;
5. Enabling voting in the Moca DAO and proposal creation;
6. And other utilities.

What is Moca Network?

The Moca Network positions itself as an interoperable cultural economy catering to partner subnetworks and their users. It consists of two primary components:

1.Core Network Infrastructure

This encompasses systems for account management, digital identity and reputation; PointFi, SocialFi, GrowthFi; a digital asset accelerator, commerce capabilities, and a governance system.

2. Network Participants 

Key players in the Moca Network include partner projects, users, network advocates, proposal initiators, and Moca DAO voting members.

Available Funding

According to data from Cryptorank, the project has raised $31.89 million through two funding rounds in 2023. The investors include OKX Ventures (Tier 2), Polygon Ventures (Tier 2), Dapper Labs (Tier 2), GameFi Ventures (Tier 2), Foresight Ventures (Tier 3), Block.One (Tier 3), CMCC Global (Tier 4), and others.

MOCA Tokenomics

The maximum issuance of MOCA tokens is capped at 8,888,888,888 tokens (according to the sale page). The tokens will be distributed as follows:

MOCA Token Sale Details on CoinList

• Duration: April 25 to May 2 (00:00 UTC).
• Sale Results: May 7.
• Token Price: $0,03938.
• Token Quantity: 126 984 127 MOCA (This is slightly less than the 1.5% indicated in the tokenomics. However, it is noted that the total number of tokens sold during the launch will be determined at the discretion of the Moca Foundation).
• Minimum Purchase: $100.
• Vesting Period: 5% unlock at TGE, 3 months cliff period followed by a 52-week linear release.
• Expected Listing Date: May 24, 2024 (or around this date).

Certain participants in this token sale may be given priority, specifically:

• holders of NFT Guaranteed Lots and Public Guaranteed Lots;
• whitelist owners;
• participants in the Whales category (buyers from $100,000 to $500,000).

A reward in the form of bonus MOCA tokens totaling $50,000 (at a token price of $0.03938) is also planned. It is specified that a share from the reward pool will be received by those who make it onto the leaderboard:

• A $10,000 pool for the top 10 in the Whales category;
• A $25,000 pool for the top 100 in the Moca NFT Holders category (for NFT Guaranteed Lot holders);
• A $15,000 pool for the top 150 in the Public category (for holders of NFT Public Guaranteed Lots and/or whitelist owners).

Final thoughts

As we can see, the token sale under CoinList's new rules differs slightly from previous ones. Allocation sizes can be quite substantial, with participants receiving only 5% of the tokens at the TGE. This means that for investors to recoup their investment immediately at TGE, the MOCA token would need to appreciate by a factor of 20.

Let's try to calculate the capitalization of MOCA under such a scenario. According to the tokenomics provided on the CoinList sale page, 12.8% of the total token supply will be issued at the TGE, which equates to approximately 1,137,777,777 MOCA tokens. If the price of MOCA increases by 20 times from the token sale price to $0.7876, the capitalization of MOCA would exceed $896 million. At the time of writing, this would position the project at the 95th rank on CoinMarketCap. 

Considering the various options for participating in the priority sale, as well as the large allocation sizes for whales, it appears that ordinary token sale participants may have limited opportunities to purchase tokens.

This article is for informational purposes only and not intended as financial advice. Always remember to do your own research before making investment decisions.