23 Hour Rebase

The COIL rebase system is designed to rebase itself every 23 hours. Some may ask why the 23 hour timeframe was implemented over the common 24 hour mechanism, or why not random? We discussed all of these ideas; however, we came to the conclusion that our method is the fairest way that will appeal to the most users. Our method ensures that investors in a certain time zone are not always receiving a rebase at 3 AM when part of the world is sleeping. This allows all parts of the world to rotate in experiencing a rebase in their peak hours. Thus, allowing a fair opportunity of trading and arbitrage for all time zones. Each day the rebase time in your time zone will be one hour earlier than the previous day. ie. Today’s distribution may be at 3 UTC, but tomorrow’s will be at 2 UTC, and so forth. We believe our 23 hour system gives exchanges and traders the predictability they need while also ensuring an equal opportunity no matter their geographical location.