Announcing citizend's Community Sale details and key dates

May 13, 2024
 – 
3
 min read

When we launched citizend, we set a clear goal: to make citizend a community-driven platform. This can only happen by ensuring that the CTND token is distributed as widely as possible among its users. Therefore, we designed our token economy accordingly. Only up to 7.5% (7,500,000 CTND) has been allocated to private sales, while 25% (25,000,000 CTND) has been allocated to the community sale, public sale, and pre-launch airdrops & rewards. Additionally, post-launch, 30% will go towards ecosystem development.

The citizend Community Sale is the first chance for the community to join citizend and shape the future of contributions and token launches in web3, starting at the lowest valuation ($20m) that the project has ever offered in any private round.

CITIZEND COMMUNITY SALE DETAILS

Key metrics

  • Allocated supply: 2,500,000 CTND (2.5% of total supply)
  • Min. amount to be raised: $500k — Implied price/token (FDV): $0.2 ($20m)
  • Max. amount to be raised: $1m — Implied price/token (FDV): $0.4 ($40m)
  • Min. allocation/participant: $100
  • Max. allocation/participant: TBD — determined once sale ends by Rising Tide Mechanism
  • Lock-up terms: 20% TGE, 6 month linear vesting
  • Contribution token: USDC

Key dates

  • Registration starts — Friday May 10th at 12:00pm UTC: Get your citizend Passport (complete KYC) and register your interest to participate.
  • Registration ends — Thursday May 21st at 12:00pm UTC: Deadline to get KYC approved and register to participate.
  • Contribution starts — Wednesday May 22nd at 12:00pm UTC: Contribution phase starts for registered wallets.
  • Contribution ends — Saturday May 25th at 12:00pm UTC: Contribution phase ends and community sale is concluded. Allocations per user gets confirmed. CTND Tokens will be distributed on TGE.
  • CTND Token launch (TGE) — Early Q3 2024

HOW TO PARTICIPATE IN THE CTND COMMUNITY SALE

🔗 Find step-by-step instructions in this video:

  • Step 1 — get your citizend Passport: make sure that you have completed your KYC journey and have obtained your citizend Passport — your key to access and re-use your digital identity to participate in CTND and future events in the citizend platform. If you haven’t completed this step, complete your journey with Fractal ID and get your citizend Passport today, to secure your participation.
  • Step 2 — connect your wallet: on Friday, May 10th at 12:00pm UTC, visit https://citizend.xyz/participate. Click on ‘Launch dApp’ and connect your wallet. The dApp will prompt you to sign a message with your wallet to authenticate yourself and unlock your idOS profile. Next, it will request you to share an access grant to your citizend Passport digital credential. If you click on your profile settings at the top right, you should now see that your ID status is verified.
  • Step 3 — Apply to participate in citizend’s Community Sale: Click on ‘Apply to participate’, and sign a message with your wallet. If everything checks out and you are eligible to participate, you should now see a confirmation message. We will notify everyone who is eligible 24 hours before the sale starts on Wednesday May 22nd at 12:00pm UT
  • Step 4 — Contribute: On Wednesday May 22nd at 12:00pm UTC, go back to https://citizend.xyz/participate, launch the dApp, and submit your contribution in USDC. Citizend follows an innovative mechanism called Rising Tide Mechanism that ensures an allocation to all contributors that desire to participate, but determines a final confirmed allocation amount and price based on the number of participants and their total desired contributions. You can see the live status and metrics such as price and FDV at any time, but your final allocation, the implied price and the amount of CTND tokens available to be claimed will only be confirmed after the sale ends. Please notice this is a community sale, and no tokens will be distributed until the Token Generation Event (TGE) takes place.

*CITIZENS, RESIDENTS (TAX OR OTHERWISE) OR GREEN CARD HOLDERS OF THE UNITED STATES OF AMERICA, AND RESIDENTS OR CITIZENS OF THE UNITED KINGDOM, THE BRITISH VIRGIN ISLANDS, CAYMAN ISLANDS, NORTH KOREA, IRAN, RUSSIA, VENEZUELA AND CANADA ARE NOT ELIGIBLE TO PARTICIPATE IN CITIZEND’S COMMUNITY SALE.

Terms & Conditions can be found here.


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