Welcome to Citizend, the community-curated token launch platform designed to elevate high-quality projects in the Web3 space. Citizend offers a unique, democratic approach to token launches, empowering the community to identify and support projects with the highest potential. This platform is not just another launchpad; it aims to foster long-term growth and community engagement, ensuring that both projects and contributors benefit from a fair and transparent process.
The Need for a Better Token Launch Platform
The traditional methods of funding Web3 projects, such as ICOs and IDOs, have shown both promise and pitfalls. While ICOs helped many great projects to launch, they were also associated with scams and financial losses. The recent trend of relying on venture capitalists (VCs) for early funding stages followed by public sales has its drawbacks. This model often prioritizes short-term gains over long-term community engagement and project sustainability.
Citizend addresses these issues by providing a platform that democratizes investment, allowing the wider community to participate in the funding process from the early stages. By prioritizing community-driven project curation, Citizend ensures that projects are supported based on merit, not just financial clout.
Citizend’s Fundamentals
Citizend is built on three foundational pillars: Openness, Community, and Transparency.
- Openness: Any verified user, referred to as a ‘citizend,’ has the right to vote for their preferred projects. Projects must meet legal requirements and terms to be listed, relying on community support for fundraising.
- Community: Citizend ensures equality of opportunity, with no second-tier participants. When a project wins a slot, funding is divided between the People’s pool and the Staker’s pool, ensuring fair distribution and incentivizing long-term commitment.
- Transparency: Every detail about projects and token generation events (TGEs) is disclosed, allowing users to conduct their own due diligence and share findings with the community.
Project Listings
To list on Citizend, projects must undergo a rigorous process:
- Submit an application with detailed fundraising goals, token economy details, and financial projections.
- Provide a legal opinion or undergo legal due diligence to confirm the token’s legal status.
- Engage with a Citizend representative to agree on terms and conditions.
- Complete Know Your Business (KYB) and Know Your Customer (KYC) processes.
Citizend does not charge upfront fees and offers complimentary KYC/AML compliance checks and post-launch liquidity support. The platform’s community decides which projects secure contribution slots through a voting process.
Discovery Batches
Discovery Batches are the core of Citizend’s project selection process, comprising three phases:
- Listing Phase: Projects are announced, and users can explore details, sign up, and initiate KYC onboarding.
- Voting Phase: Verified users cast one vote for their preferred project. The project with the most votes wins the slot.
- Contributing Phase: A 12-hour window for contributions opens. Funding is divided between the Voter’s Half and the Staker’s Half, ensuring fair distribution and alignment with community values.
Citizend Bicameral Contribution System
Citizend employs a Bicameral Contribution System, splitting the contribution pool into two halves: the Voters’ Half and the Stakers’ Half. This system rewards community members who vote for projects and those who stake their CTND tokens, ensuring fair allocation and incentivizing active participation.
Rising Tide Mechanism
The Rising Tide Mechanism optimizes for community distribution and price discovery. It calculates the maximum allowed allocation for each contributor, ensuring a healthy token distribution and fair allocation across both the Voters’ Half and the Stakers’ Half.
Compliance and Liquidity
Citizend adheres to KYC and AML standards to ensure secure token launches. The platform covers the costs of compliance checks and requires projects to provide a percentage of their token supply for liquidity purposes, paired with CTND tokens in a DEX liquidity pool.
The CTND Token
The CTND token is central to the Citizend ecosystem, providing utility for:
- Accessing guaranteed allocations for winning projects by staking CTND tokens.
- Participating in platform governance and decentralization efforts.
- Providing liquidity to projects launching on Citizend.
Token Allocation:
- Ecosystem development: 30% (72 months vesting)
- CTND Community and Public sales: 20% (20% unlocked on TGE, 6 months vesting)
- Airdrop & Rewards: 5% (20% unlocked on TGE, 6 months vesting)
- Platform reserve: 20% (20% unlocked on TGE, 72 months vesting)
- Private sales & advisors: 7.5% (3 months lock-up + 36 months vesting)
- Team & Building partners: 17.5% (6 months lock-up, 36-48 months vesting)
Conclusion
Citizend is set to redefine token launches in the Web3 space by prioritizing community engagement, transparency, and fair distribution. By leveraging a community-curated approach and innovative mechanisms like the Bicameral Contribution System and the Rising Tide Mechanism, Citizend ensures that high-quality projects receive the support they deserve while empowering contributors to make informed decisions. Join Citizend and be part of a platform that truly embodies the democratic spirit of Web3.
- Related Token/s: CTND