Our governance token, KNIGHT, is now live! This marks a major milestone for the community and brings us a big step closer towards our mission to build a DeFi ecosystem powered by Real Estate.
We have chosen the ticker KNIGHT as Knights form the foundation of the CitaDAO and KNIGHT holders will be able to participate in community governance mechanism to determine the direction of the protocol.
The token contract can be viewed here https://etherscan.io/address/0x3541A5C1b04AdABA0B83F161747815cd7B1516bC
Token utility
Governance — KNIGHT tokens can be staked to vote on important decisions such as new platform features, community development, and more. As a Decentralized Autonomous Organization, Citadao is highly dependent on KNIGHT token holders to guide the project into the future.
Real estate ownership — Two percent of all real estate listed via Citadao platform will be owned by the DAO itself. Owning KNIGHT is a simple way to gain broad and diversified exposure to real estate on-chain.
Allocations
79% of the KNIGHT tokens will be allocated to the community to reflect the value of contributors in growing the protocol. The breakdown of the tokenomics is as follow:
1. Community Rewards: 79% which consists of the following:
- Liquidity Incentives: 37%
- Community Primitives: 15%
- Foundation: 14% towards future community contributors
- Landmark real estate supply Rebates: 10%
- Airdrop for active DeFi community: 2%
- Protocol seeded liquidity pool: 1%
2. Early team contributors, advisors: 15%
3. Ecosystem supporters: 6%
Towards a community-owned DeFi protocol
We are finalizing the distribution for the DeFi community airdrop to ensure there’s a fair distribution of KNIGHT token to the DeFi community. Follow our Twitter @citadao_io for further announcement on the airdrop. We would like to invite you to join our community on Discord, discord.gg/citadao to learn how you can start diversifying and earning stable, sustainable yields as soon as possible!
About CitaDAO
CitaDAO.io is a Decentralized Finance (DeFi) platform for Real Estate to be tokenized on-chain, built on the Ethereum ecosystem. CitaDAO aims to solve the lack of liquidity, access limitation, and lack of composability in existing real estate ecosystem by creating interoperability with other DeFi applications/primitives that operate on the Ethereum protocol. Real estate token allows the community to diversify their portfolio on-chain to generate stable yield through real-world assets that have constant liquidity through AMM.
Follow us on Twitter: @citadao_io
Join our community on Discord: bit.ly/citadao
Or check out our website: citadao.io
Disclaimer: The information contained in this communication is based on sources considered to be reliable, but not guaranteed, to be accurate or complete. This communication should not be relied upon or the basis for making any investment decision or be construed as a recommendation to engage in any transaction or be construed as a recommendation of any investment strategy. This announcement does not take into account nor does it provide any tax, legal or investment advice, or opinion regarding the specific investment objectives or financial situation of any person.CitaDAO reserves the right to amend or replace the information contained herein, in part or in entirety, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this announcement supersedes any prior representation, post or conversation whether informal or formal, concerning the same, similar or related information.
You are not claiming or receiving any $KNIGHT governance tokens for a speculative purpose and do not have any intent of acquiring $KNIGHT tokens as an investment or with the aim of making a profit and will have no expectation of profit from governance participation or from acquisition of the aforementioned governance tokens. You understand that $KNIGHT tokens have no intrinsic value and are solely tools of governance, and as such have no intrinsic potential for future appreciation in any form whatsoever. You further represent and warrant that you are an active user of blockchain technology and blockchain-based software systems.
If you intend to acquire or have acquired any preexisting rights to any governance tokens pursuant to this and any other announcement, you are or have done so only to participate in the CitaDAO governance structure and to participate in CitaDAO governance-related decisions;
The information provided within this article is for general informational purposes only pertaining to the governance mechanism and is not a formal offer to sell or a solicitation of an offer to buy any securities. Information contained in this article should not be relied upon as advice to buy or sell or hold any such securities or as an offer to sell such securities.
You understand that the CitaDAO governance structure is an experiment in the field of decentralization and community governed structures, in which participation via the CitaDAO token and otherwise is entirely at your own risk;
You make active representations that participating in the CitaDAO event is not prohibited under the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject and you are and will continue to be in full compliance with applicable laws (including, but not limited to, in compliance with any tax or disclosure obligations to which you may be subject in any applicable jurisdiction) and you understand that certain jurisdictions have been prohibited from participating in the aforementioned.
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