CTZN Token launch and debt transfer

CTZN token launch

White paper draft:

Public info CTZN token

white paper CTZN token info

Project: CTZN incorporation and ICO

Current idea:

• issue 10% of tokens to the team
• 608,000

Initial mint on the bonding curve:

Proof of transaction:

CTZN token

price 0.069

amount: 72597 tokens

Value: 5009.193

→ vesting transaction: https://zkevm.polygonscan.com/tx/0x17d442ae2e79fa1f672abf2d0728f3436f9ad8995575585fbc2853faa6b3bab8 ( check the logs)

Transfer Jonas

CWT debt conversion

As discussed with the team we would like to propose to transfer the “debt” to the citizen Wallet contributors to the CTZN token.

During the de project initiation we can allocate tokens to “investors” / previous contributors.

Currently in total 343,980 CWT has been distributed to contributors. Of this 118,980 has be burned and paid out in euros. there is an outstanding debt left of 225000 CWT (euro equivalent).

During the launch of the token we would like to clear this debt by letting the project “pre-mint” tokens that will be distributed to the contributors.

Officially these pre-mint tokens would be issued at the starting price of the bonding curve. However as we feel like this is not really fair towards token buyers in the EA and Qacc rounds we propose to mint the tokens at an expected price point of the bonding curve after the first Qacc round. For the calculation we can consider the neutral scenario as proposed by the Qacc team.

According to the simulation prices after Qacc 1 range from $0.27 - $1.69 depending on scenario. Untitled

after Qacc3 it ranges between $0.310 - $2.341

To be decided by the team what would be a fair valuation for the distribution the CTZN token.