Entity & KoC: $CGO’s Next-Level Tokenomics & Public Sale
With KYC for Knights of Cathena on the Entity Launchpad now live, here are some special insights into what makes the $CGO token special, and what to expect from this innovative Web3 gaming project in the coming months!
How is this public sale different?
To be as inclusive and community-oriented as possible, the Knights of Cathena Public Sale is unique compared to most other ecosystem launches.
- No staking requirement for Tier 1
- Very small seed sale
- Soft/Hard Cap for publicly raised funds
Like other major launchpads such as xLaunchpad, Entity will take a snapshot of staked EGLD on August 17–18 2023 for the Knights of Cathena launch.
However, the snapshot is only to determine whether users are staking 25 or more EGLD to qualify for Tier 2 or 100 or more EGLD to qualify for Tier 3. For Tier 1, you do not need to stake any EGLD to pass the snapshot and buy up to 20 lottery tickets!
The KoC Team made this decision to make the launch as accessible as possible and to welcome new investors to the MultiversX ecosystem.
Another special thing about this token launch: only ~3% of tokens are allocated to seed sale investors. While the seed round tokens of course have a locking period of up to 33 months, it’s even better for public sale investors that so few tokens have been sold already.
“We wanted to give the full power of the token’s value to the community.”
— Lukas Anetsberger • Knights of Cathena CEO
What about the 8.9% of tokens reserved for a potential strategic sale? These tokens will be withheld for more favorable market conditions to help take Knights of Cathena to even greater heights in the gaming universe. This gives the project the flexibility to keep growing, while still rewarding public sale investors who are early adopters of $CGO.
Are the public sale tokens locked? Yes, tokens from the Launchpad will be locked for 1–3 months to protect the community and give the Knights of Cathena Team enough time to further prove the quality of their project. However, these tokens will be usable in-game right away to help you upgrade your army and immediately earn unlocked $CGO as rewards!
And what’s the deal with the Soft and Hard Cap for the $CGO launch? This Public Sale will be considered a success after reaching the Soft Cap of $500k raised in ticket sales. But to give the community more access and flexibility, the maximum amount raised through ticket sales will be $1.25m.
While it would be a huge achievement to reach the Hard Cap in these market conditions, this launch’s focus on delivering real value for the community means that even reaching the Soft Cap will be a huge milestone for both KoC and the ecosystem.
What is $CGO’s utility from Day One?
The $CGO token is not only positioned to become a valuable long-term investment, but also have immediate use cases in the KoC ecosystem.
The core utility of $CGO is to support the Knights of Cathena in-game economy. $CGO will become the currency of the KoC Marketplace, where players can buy or sell their items to improve their army and earn more tokens with real-world value.
$CGO, also known as Cathena Gold, will also be used for unlocking chests. After the public sale investors have received their tokens, Knights of Cathena will host a special discounted chest sale that is accessible only to Entity Launchpad users.
“We want to reward our players for giving us their trust by giving them special rewards and opportunities on top of the value of the token.”
— Lukas Anetsberger • Knights of Cathena CEO
Altogether, these use cases are carefully designed to create a constant demand for $CGO that balances out token emissions and increases scarcity. Because you earn more rewards at a higher level, there will be many incentives for lower-level players to re-invest rather than sell their tokens.
And with almost every in-game transaction, $CGO will be burned. The overall goal is to destroy more tokens than are being distributed. This means that everyday activity will constantly push the token to be more valuable and scarce over time!
Why accumulate $CGO now?
Although there are the immediate use cases for the token as mentioned, this is just the tip of the iceberg!
The project’s entire tokenomics are designed to reward early adopters. Knights of Cathena uses the concepts of dynamic scarcity and fixed inflation to encourage sustainable growth over time. The amount of tokens being distributed will remain capped, so that it organically gains value with every new gamer who starts playing.
“The way dynamic scarcity works is that the more and more players join the ecosystem, the less tokens will be distributed to each player.”
— Lukas Anetsberger • Knights of Cathena CEO
Plus, there are many more exciting utilities coming soon for $CGO such as powering Noble Houses, Battle Passes, Item Renting, Governance, and more!
After an initial listing on AshSwap, the $CGO token will also be listed on other DEXs like xExchange and potentially CEXs as well when the time is right. Every step will be taken with the KoC community in mind to ensure the value outweighs any potential downsides.
And as KoC kicks off new marketing campaigns with both Web2 and Web3 gaming communities, the amount of active players could grow rapidly. And powered by award-winning builders, you know the team will keep on delivering exciting new features for years to come.
So the best way to ensure your glory in Altea is to join the Entity Launchpad sale and start playing the game today!
KYC is now LIVE!
With KYC now open until 22:00 UTC on August 15th, check out the official Launchpad Page on Entity for more key info about $CGO and KoC. Don’t forget to check out the Official Knights of Cathena Litepaper as well for more info about $CGO and how it will generate value.
For support with the launch and KYC process, the Entity GitBook and the KoC Support Form are ready to help.
Finally, make sure to join Entity on Twitter and Telegram, and KoC on Twitter, Telegram, and Discord.
Enhancing the MultiversX Ecosystem
Entity is a Launchpad and suite of cutting-edge tools for Web3 builders and investors. Entity is focused on catalyzing growth in key areas such as DeFi, GameFi, NFTs and real-world blockchain applications.
MultiversX is a highly scalable, secure and decentralized blockchain network created to enable radically new applications, for users, businesses, society, and the new metaverse frontier.
