Majority Re-lock of Founder CAN

17m CAN (85%) of Founder Tokens will be re-locked.

Overview

The CanYa ecosystem is powered by trust-minimized technologies, targeting the gig economy and capturing that value in the form of a single digital asset, the CAN token. This token has the following functions:

  • A unit of account for payments between users
  • A medium of exchange, solving the double coincidence of wants; the freelancer wishes to sell their service for money, whilst the client wishes to buy their service with money
  • A store of value — pegged to the USD price whilst held in escrow
  • A governance token allowing community members to share their input in a sybil-resistant manner
  • An incentive token to trustlessly pay out to entities contributing to the network

Importantly, the CanYa Founders are aligned alongside all CAN token holders to grow value to the CanYa network — in the form of CAN tokens — the same tokens held by all.

From the original white paper, 20% of tokens were escrowed for this purpose, locked for a minimum of 12 months from 08 Jan 2018 — the date of listing of the CAN token.


What has been built?

Funds raised during the ICO have been used to build the network. To date the team have built, launched and maintained the following decentralised applications:

What is left to build?

The team are on track to continue building over the next 24 months, with a focus on the following:

  • CanYaDAO — the hugely important socially scalable aspect of CanYa, allowing community members to stake CAN and be part of the CanYa Community governance
  • DappNodes — scalable infrastructure for the CanYa ecosystem run by the community
  • CanSwap — a decentralised and permissionless liquidity network with the CAN token as the settlement layer

The CanYaDAO will have a further 20% of all tokens to allow the community to fund themselves and their proposals.

In addition we will maintain the following efforts:

  • Ongoing business development to further grandfather the CanYa platform into the ecosystem, such as more integration with the MakerDAO ecosystem, Ethereum and other platforms.
  • Ongoing community maintenance to ensure a healthy community who will be able to safely take ownership of the CanYaDAO and its 20m CAN tokens

The Founder Tokens

The original CanYa founders remain committed to the project, with all opting to not draw any form of payment from the project, out of desire to work for the CAN ecosystem. Due for release on 08 Jan 2019, an internal vote was cast and 17m CAN (85% of the 20m CAN tokens) was decided to be re-locked. The rest (3m CAN) will be released prior to the end of February 2019. You can track it here. Founder CAN will not be staked or moved whilst it is locked.

There will be no more Founder Releases for a minimum of another 12 months, and it will be publicly announced if another movement occurs after then.

Note: a release of Founder CAN does not mean disposals. Each founder taking possession of Founder CAN is at liberty to do whatever they wish with the CAN, including staking in the DAO, DappNodes or CanSwap — or even buying services off CanWork.

Thanks. Let’s keep building. The CanYa ecosystem is already proving to be on the cutting edge of Ethereum and the CanWork dApp is becoming a world-class example of what can be built using trust-minimized decentralised technologies.

CanYa Team.

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