Dear Knights đ°,
A new era for Ethereum has now begun. ETH has successfully completed the upgrade from PoW to PoS, which has been the vision of the ETH team since its inception, and has done so in a smooth manner.
We understand that the entire crypto community is both anxious and eager to witness this transition and its effect on the greater crypto sphere. As a CitaDAO token holder, there is nothing you need to do with regard to The Merge.
Your Real Estate Token (RET) and KNIGHT tokens will be reflected in the PoS chain. And in the event of a viable PoW fork, while the existing tokens will be reflected on the PoW chain, they will not be recognized by the entities managing the on-chain properties. We strongly encourage you NOT to interact with the tokens on the fork.
Contributors: The Psych Guy, Cheetah, Ethan, Mak, Sujith_god, Everythingblockchain
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CitaDAO Tokenomics Deep Dive
Author: Everythingblockchain
Tokenomics is a portmanteau of the words âtokenâ and âeconomicsâ and refers to the study of the economics of crypto tokens. It is an essential concept that describes the demand and supply of these tokens, helping with the creation of the Web3 economy through incentives and utilities.
In this issue, we will delve into the tokenomics of CitaDAO. CitaDAO is a Decentralized Finance (DeFi) platform for Real Estate to be tokenized on-chain, built on the Ethereum ecosystem.Â
KNIGHT is an ERC-20 token and the governance token of CitaDAO with multiple uses:
Governance â Staking KNIGHT tokens entitle DAO members to vote on important decisions such as new platform features, community development, and more. The control of the protocol rests in the hands of the community holding the KNIGHT tokens. As a Decentralized Autonomous Organization (DAO), CitaDAO is highly dependent on KNIGHT token holders to guide the project into the future.
Treasury âââCitaDAO treasury receives 2% of all Real Estate listed through it. Hence, owning KNIGHT gives the DAO members broad and diversified exposure to Real Estate on-chain.
Total Supply & Allocation
The total supply of KNIGHT tokens is hard-capped at 10 billion. 79 percent of the tokens are allocated for community rewards. The total allocation is given below:
Community Rewards: 79% Vesting over 4 years
Liquidity Incentives: 38%
Community Projects: 15%
Foundation: 14% towards Future Community Contributors
Landmark Real Estate Supply Rebates: 10%
Airdrop for Active DeFi Community: 2%
Early Team Contributors and Advisors: 15%
Ecosystem Supporters: 6%
Vesting ScheduleÂ
The 21 percent allocation of KNIGHT tokens for Ecosystem Supporters and Early Team Contributors will be vested according to the following:
Tokens from the first strategic rounds given to the Ecosystem Supporters: the tokens will be vested linearly and monthly over 12 months after the 6-month cliff from the token generation event (TGE). I.e., Tokens will be fully vested on the 18th month from the TGE.
Early Team Contributorsâ and Advisorsâ tokens - These will be vested over 48 months linearly with a 12-month lock from the TGE. I.e., 25% of the tokens will be vested on the 12th month from the TGE and will be fully vested on the 48th month from the TGE.
KNIGHT ERC-20 Address: 0x3541A5C1b04AdABA0B83F161747815cd7B1516bC
Real Estate Tokens (RET)
RETs represent a share of rights and are not the same as KNIGHT tokens. RETs are specific to each property, meaning a different RET for a different property. RETs provide holders the right to buy out other RET to claim the NFT and redeem the title deed and the Special Purpose Vehicle (SPV) assets.
RETs are indirectly supported by the value of their corresponding Real Estate but are not pegged to the same. These are natural inflation hedges and can protect the owner against inflation on-chain.
For more info on RET, click here.
đ Ecosystem Updates
đ§ Great Reads
đ°Â Knight of the week
Hi! My name is the Psych Guy. Iâm the editor of the newsletter at CitaDAO and Iâm happy to be involved in this central protocol of Web3. I am primarily a graduate student of psychology and headed for clinical practice & research. I see a great deal of prospects in the tokenisation of real world assets, and CitaDAO happens to be pioneering real estate!