Acala
Published in

Acala

Citizend and Acala Partner to Bring Its Natively-Built Token Launch Platform to Karura for the Polkadot and Kusama Ecosystem

We’re excited to welcome Citizend, a Polkadot-native token launch platform, into the Karura and Acala ecosystem! Citizend will launch on the Karura EVM+, Acala’s custom-built EVM environment combining Ethereum + Substrate, serving as an enabler and connector for projects and communities across the Kusama and Polkadot ecosystem. Through a community-driven and transparent listing process, Citizend aims to be the primary facilitator for projects launching in the Polkadot ecosystem. The waitlist to join the Citizend DAO is now open.

Meet Citizend

Citizend has identified the progress and growth potential of the Polkadot and Kusama (Dotsama) ecosystems. At this point, Polkadot and Kusama command over $40 billion in market capitalization, with expectations of continued growth.

Innovative and practical projects continue to launch on Dotsama, bringing in their communities while attracting developers to the ecosystem. Dotsama’s DeFi protocols, cross-chain smart contracts, blockchain bridges, and NFT applications create a strong foundation for a thriving multi-chain ecosystem. Citizend’s goal is to fuel the growth of the Polkadot and broader blockchain ecosystem by providing a launchpad for developers and early access to investors and supporters.

Next to existing founding partners like RMRK, Outlier Ventures, Fractal, Unique and Subvisual, Acala joins as one of the founding partners.

aUSD will serve as the the default quote and routing asset for the Citizend platform

Citizend plans to enable the natural growth within the Polkadot ecosystem by giving community members an equal opportunity to support projects listed on their platform. To help achieve this mission, Citizend will integrate aUSD for its platform services, enabling users to support projects with the native, decentralized stablecoin of Polkadot and Kusama.

Instead of taking fees from the projects launching on Citizend, Citizend will take up to 5% of a project’s native token distributed on the platform. Citizend will then match each new native token with aUSD to create a pool. A deeply liquid CNTD-aUSD pair will act as an exchange route for community members to trade in and out of stablecoins and native tokens freely, with aUSD as the routing asset connecting all tokens on Citizend.

Transparent, and For the Community

Citizend’s implementation will build on three values of the platform:

  • Openness — Anyone holding a minimum number of CTND tokens can list, vote, and contribute to projects. All projects native to DotSama are eligible for listing.
  • Transparency — Citizend explores all critical aspects of projects and token distribution events (TDEs): there is no hidden information. Any member of the Citizend DAO is free to conduct and report additional due diligence and research.
  • Community — Anyone holding a set number of CNTD is a member of Citizend DAO. Everyone contributes on the same terms, regardless of background or size of holdings.

Citizend allows creators and supporters to build their visions by providing a mechanism for crowdsourcing, leveraging the diversity and insights of the ecosystem/community. Limited votes push Citizend users to conduct due diligence and research to gain a direct stake by betting on promising projects. Building on the Karura EVM+ enables Citizend access to aUSD to serve as the default stablecoin, routing asset, and means of exchange among users and developers on the platform.

Utilizing Fractal’s DID system on Acala, Citizend will enable over 250k people to seamlessly join the DAO.

Join the Citizend Waitlist

Sign up to join the waitlist to be a part of the genesis of Citizend. Only a small number of spots are available, so we encourage you to move quickly.

Follow the Integration

The Karura and Citizend teams will keep the community updated on the launch of Citizend, including more education around Citizend’s products, team, and roadmap. You can follow along on the Karura or Citizend Twitter accounts or any social links below.

Build on Acala

If you’re a team looking to build on Acala or Karura, integrate the aUSD stablecoin, get funding from the $250 million aUSD Ecosystem Fund, or receive support from Acala Grants, please get in touch with our team to chat about how we can support you.

About Citizend

Citizend is a Polkadot-native token launch platform, built by and for the community. As a DAO, citizend looks to set the standard for token launches in the Polkdot and Kusama ecosystem by letting the community decide which projects launch on the citizend platform. We facilitate interaction between promising projects and the community, helping projects build a following and raise contributions while offering DAO members a safe and transparent way to contribute to the projects fueling the growth of the ecosystem.

Join the waitlist and become citizend today.

About Karura & Acala

Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD, is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate. Karura is Acala’s sister parachain to serve the Kusama ecosystem and shares the same codebase as Acala.

Linktree | Discord | Website | Twitter | GitHub | Wiki | Newsletter | YouTube

--

--

--

Acala is the decentralized financial hub of Polkadot that makes it fast and easy to use or build financial applications, improving trading efficiency and saving valuable time. The platform offers a suite of DeFi primitives including a stablecoin, DEX, and staking deritatives.

Recommended from Medium

3 New Ways to Use Pax Gold (PAXG) on YouHodler

#NFTPossion (NFTP token) Presale is counting down

Bitcoin Is a Better Store of Value for the Masses Than Gold

Bitcoin: Is it a store of value?

Post your idea on TradingView and split a prize pool of 100,000 ROOBEE 🔥

The Top 11 Blockchains for Enterprise Organisations, and Why

The Top 11 Blockchains for Enterprise Organisations, and Why

Crypto Congressional Hearing Interpretation: Web3.0 Is Next Blockchain Development Frontier

CryptoNesia x Vegaswap AMA Recap (8 June 2021)

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Dan Reecer

Dan Reecer

Chief Growth Officer @ Acala and Karura. Previously launched Polkadot and Kusama @ Web3 Foundation.

More from Medium

Litentry this week: Identity linking and VC milestones; MCP 2.0

Polkadot Ecosystem Weekly Digest. April 18–24

April 20 2022, Ecosystem Updates for SORA, Polkaswap, and Fearless Wallet

Anchor Protocol and Acala Integrating to Unite Terra and Polkadot DeFi Ecosystems and Grow…