Corion

Corion (CORION) is a blockchain-based utility token originally built on Ethereum Classic and launched in 2017 as part of the Corion Platform, which aimed to facilitate mainstream adoption of digital currencies through a stable, incentive-driven ecosystem. The CORION token was designed to serve as a stable medium of exchange with an in-built, rules-based supply management mechanism to maintain its price near $1.

The platform’s goal was to bridge real-world businesses and non-crypto users to the blockchain economy via a multifunctional wallet, decentralised peer-to-peer exchange, and service marketplace. CORION featured a capped supply increase mechanism and economic incentives tied to platform activity.

CORION was intended for the following functions within the Corion Platform:

• Stable Means of Payment: The token was structured to act as a stable-priced currency. Through a combination of demand-based coin emission (inflation) and burning mechanisms (deflation), the system aimed to keep the token price close to $1.

• Daily Incentives via Coin Emission: Users connected to service providers could receive a daily distribution of newly created tokens, up to a maximum of 2.5% per day. This incentive aimed to promote platform usage and community growth.

• Service Provider Participation: Users holding a minimum of 3,000 CORION could register as service providers. Providers could connect users, distribute part of their daily coin emission, and promote their own business activities within the ecosystem.

• Gamified Price Stabilisation: CORION integrated a game-theory-based voting mechanism, where users would predict whether the CORION token was trading above or below $1. The result influenced the activation of daily emission or halting it altogether.

• Premium Token Rewards: Investors contributing at certain thresholds during the ICO received Premium Tokens, linked to profits from the Corion Foundation’s investments. These were designed as additional incentives beyond CORION coins.

• Wallet and Exchange Utility: CORION was integrated into the platform’s multifunctional wallet and smart contract-powered peer-to-peer exchange, enabling low-cost transfers and onboarding via fiat and crypto gateways.

Corion (CORION) was created by the CORION Team, led by Miklos Denkler, Zoltan Bor, and Ida Froyda. The project was developed under the CORION Foundation, registered in Zug, Switzerland (Crypto Valley), with the objective of promoting financial inclusion and mainstream cryptocurrency adoption.

Although 'COR' was the ticker assigned at the deployment of the Corion Token's smart contract, it is already in use by another asset that has a larger market presence and higher trading volume on major exchanges. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'CORION' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.