CTSI Foundation Reserve Transparency Report — April, 2021
As of 2022 Descartes has now been renamed as Cartesi Compute.
As the next unlock of Cartesi Tokens (CTSI) is set for April 23rd, 2021, we’re pleased to provide another official transparency report on the Cartesi Foundation’s governance, operations and how CTSI tokens are allocated in succession to our previous transparency reports.
As a reminder and for transparency sake, anyone can view the current holdings of the Cartesi Foundation wallet:
The Current State of CTSI
The information provided below is dynamic in nature therefore may not reflect accurate estimations at the time of reading.
The information below is taken as of April 9, 2021. For up-to-date information, please reference the CTSI page on Coinmarketcap or Coingecko.
Total Supply: 1,000,000,000
Current Circulating Supply (April 9, 2021): 309,412,337
Current Undiluted Valuation (April 9, 2021): $177,271,671
Total Diluted Valuation (April 9, 2021): $572,900,404
Current CTSI Price (April 9, 2021): $0.5729
The Current CTSI Allocation:
Prior to this unlock, 18.67% of the total supply has already been unlocked and held by the Cartesi Foundation. The foundation reserve tokens have gone to a variety of important endeavours as previously outlined, all of which are summarized below:
- Held in Wallets: 3,000,466.92 CTSI
- Exchange Listings: 2,002,795.83 CTSI
- Community Operations: 1,519,695.10 CTSI
- Legal, Business Operations, and R&D: 52,532,048.30 CTSI
- Partnerships: 50,000,000.00 CTSI
- Marketing: 10,324,339.20 CTSI
- Market Making: 62,721,121.38 CTSI
- Staking: 4,666,200.27 CTSI
Total: 186,766,667.00 (18.67%) CTSI
April 23, 2021 Foundation Unlock
The upcoming Cartesi Foundation unlock will occur in the amount of 21,538,333 CTSI (2.15%) of the total supply on April 23rd, 2021.
Where does the funding go?
- Continued research and development of Cartesi’s technology
- Marketing and community-based objectives
- Legal expenses
- Development grants
Internal governance consensus is reached by the Cartesi Foundation before devoting or expending CTSI to any event. The foundation reserve unlocks are vital for the development of Cartesi’s tech, bootstrapping its ecosystem, and for the operations of the foundation itself.
No entity or token holder is more interested in the health of CTSI’s economy than the Foundation itself for its entire existence and longevity. The Foundation liquidates only the amounts deemed necessary, remaining careful not to disturb the secondary markets of CTSI.
In total, 40.22% of the total CTSI supply is reserved for the Cartesi foundation and will be fully unlocked by July 23rd, 2023.
Supply Curve
As a reminder, the following chart represents the number and breakdown of all CTSI tokens that are to be released into circulation on a monthly basis. Token inflation and possible deflation for staking rewards will be revealed in the future, which is yet to be finalized, and not presented in the following chart, however, we have released the CTSI Macroeconomy article for further reading in the meantime.
CTSI will have no inflation until the mine reserve is completely depleted, which will happen no earlier than 2023.
The current state of the CTSI distribution curve:
Binance Launchpad Sale tokens comprise 10.00% of the total token supply.
- This has been 100% allocated
Seed Sale tokens comprise 2.00% of the total token supply.
- First unlock will occur on April 23, 2021 in the amount of 2,857,142 CTSI
- Unlocks will occur on a quarterly basis thereafter and be fully unlocked on October 23, 2022
Private Sale tokens comprise 5.00% of the total token supply.
- First unlock will occur on April 23, 2021 in the amount of 5,555,554 CTSI
- Unlocks will occur on a quarterly basis thereafter and be fully unlocked on April 23, 2023
Strategic Sale tokens comprise 0.67% of the total token supply.
- 0.51% has already been allocated through three previous unlocks
- Final unlock will occur on April 23, 2021 in the amount of 1,675,000 CTSI
Team tokens comprise 15.00% of the total token supply.
- First unlock will occur on April 23, 2021 in the amount of 21,428,568 CTSI
- Unlocks will occur twice a year and be fully unlocked on April 23, 2024
Advisors tokens comprise 2.11% of the total token supply.
- First unlock will occur on April 23, 2021 in the amount of 7,049,999 CTSI
- Unlocks will occur twice a year and be fully unlocked on April 23, 2022
Foundation Reserve tokens comprise 40.22% of the total token supply.
Mining Reserve tokens comprise 25.00% of the total token supply.
Upcoming Next
During this quarter, we’ll be working on bringing Cartesi Compute Rollups to the testnet. This will usher in a new era for Cartesi as we enable smart contracts to be coded directly with mainstream software, bringing the next million developers to blockchain.
To stay up to date, make sure to stay tuned to our Telegram announcements channel, follow our Twitter, or one of the many channels we put news out on.
About the Cartesi Foundation
The Cartesi foundation is the coalition of the co-founders, partners and influential members to deliver exceptional technical impact on bridging mainstream software with blockchain. Composed of leading scientific minds, thinkers, leaders and veterans, we remain at the forefront of a blockchain interconnectivity revolution with the plethora of millions of mainstream open-source software via Linux. The Cartesi Foundation is an entity that is committed to taking smart contracts on Ethereum to the next level, bringing mainstream scalability and convenience to developers and users of decentralized applications. Decentralization is the core goal of what we are building at Cartesi and it is put at the forefront of each decision we make in achieving our vision.
The Cartesi Foundation actively makes decisions required to put our technology at the forefront of blockchain adoption. The foundation is committed to achieving this vision and the continued development of its roadmap. As we gradually achieve and deploy the roadmap we’ve set out, the foundation will also become more decentralized along with the Cartesi Network.
Cartesi’s Ecosystem Links:
Website: https://cartesi.io
Explorer: https://explorer.cartesi.io
Twitter: https://twitter.com/cartesiproject
Telegram: https://t.me/cartesiproject
Telegram Announcements: https://t.me/cartesiannouncements
Discord (Development Community): https://discordapp.com/invite/Pt2NrnS
GitHub: https://github.com/cartesi
