What is Civitas Protocol (CVT) | What is Civitas Protocol token | What is CVT token

What is Civitas Protocol (CVT) | What is Civitas Protocol token | What is CVT token

Civitas Protocol is a community-driven project governed by CVT, an ERC20 token, that when transacted applies a 2% absorption to each transaction. The 2% absorption per-transaction mechanism aims at providing a reduction to the amount of CVT tokens in the circulating supply over time, thus increasing the price of each token in the liquidity pool. What is Civitas Protocol (CVT) | What is Civitas Protocol token | What is CVT token

Civitas Protocol is a community-driven project governed by CVT, an ERC20 token, that when transacted applies a 2% absorption to each transaction. The 2% absorption per-transaction mechanism aims at providing a reduction to the amount of CVT tokens in the circulating supply over time, thus increasing the price of each token in the liquidity pool. The minimum deflation, based on use-cases outlined below and the ‘maximum re-introduction rule’, will result in a minimum of 1% deflation as at least 50% of absorbed tokens will remain in a ‘burned state’ (Never re-introduced into circulating supply or permanently burned through the contract).

The benefit to holders of CVT is that the 2% deflation mechanic creates buy and hold pressure as holders experience an automatic yield on the value per token just for holding. The absorbed 2% of tokens will automatically be pulled into a fully transparent governance wallet that will be used to provide a number of use cases. Use cases will be determined by the community and will go towards community-driven incentives that can be voted on and scheduled to take place, of which may include at least the following initially:

– Giveaways to multiple community members through incentives or competitions

– Burn events where an actual permanent reduction on total (and therefore circulating) supply takes place.

– Marketing to increase exposure of the project to wider audiences and increase adoption

And other incentives to be decided and voted on by the community. Future phases of Civitas Protocol include Farming and Staking in Q2 of our roadmap.

A maximum ‘re-introduction’ rule will be in place for the governance wallet to ensure a permanent deflation of at least 1% to the liquidity pool. Only 50% of the balance of the absorbed tokens (1% in relation to the amount aborbed from liquidity) can ever be put towards use cases where the token could be re-introduced into liquidity pools, such as marketing or giveaways.

The reason for this is so that if for example or community members are rewarded with a giveaway, should these holders wish to sell their tokens back into the liquidity pool, the impact on the total deflation cannot exceed 1% ensuring a minimum deflation of 1% at any time.

Initial liquidity will be provided through an incentivized presale with a soft cap of 100 ETH and a hard cap of 150 ETH. Contributors will receive a 20% discount on the value of their tokens (or ‘1.2x’ the amount of tokens they would otherwise have received at list-price).

70% of liquidity raised will be used to create the Uniswap liquidity pool, and liquidity will initially be locked for 3 months initially and re-locked thereafter for up to 3-6 months at a time.

The additional 30% will be used to offset start up fees including contract deployment/liquidity locks, marketing costs for the initial launch, independent smart contract auditor fees, and as contingency where needed to further the project.

Tokenomics are as proposed

4000 Initial Fixed Supply

1800 Tokens to Presale Allocation

1050 Tokens to Uniswap Liquidity

290 Tokens to initial Marketing

60 Tokens to Team

800 Tokens in reserve for alternative liquidity pools on other exchanges and provisions for future staking and farming platforms.

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