CTSI Foundation Reserve Transparency Report — January 2023

With the next unlock of CTSI set for January 23rd, 2023

Published in

Cartesi

5 min readJan 17, 2023

As the next unlock of CTSI is set for January 23rd, 2023, 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’s sake, anyone can view the current holdings and transactions of the Cartesi Foundation wallets here:

1) 0x4B0B3C9506d5008FcCfb458361E06d28d4d3BCAD

2) 0x60247492F1538Ed4520e61aE41ca2A8447592Ff5

The information provided below is dynamic in nature, and therefore, what is presented may not reflect accurate estimations at the time of reading.

The Current State of CTSI

The information below is taken as of January 8, 2023. For up-to-date information, please reference the CTSI page on Coinmarketcap or Coingecko.

Total Supply: 1,000,000,000 CTSI
Current Circulating Supply: 652,741,766 CTSI
Current Undiluted Market Cap: $67,638,558 US
Total Diluted Market Cap: $103,622,231 US
Current CTSI Price: $0.103544 US

The Current CTSI Allocation:

Prior to this unlock, 37.75% out of the total reserved 40.22% has already been unlocked and held by the Cartesi Foundation.

The foundation’s reserve tokens have gone to a variety of important endeavors as previously outlined, all of which are summarized below (as of January 8, 2023):

Currently Held in Wallets or Exchanges: 71,373,872.91 CTSI
Exchange Listings or Activities: 7,465,866.83 CTSI
Community Operations: 2,369,151.10 CTSI
Legal, Operations, Grants, and R&D: 106,899,728.83 CTSI
Partnerships: 50,000,000.00 CTSI
Marketing: 14,128,020.33 CTSI
Market Making: 91,569,353.42 CTSI
Staking: 37,115,199.62 CTSI

*The above figures include the returned security deposit and original budgets from Binance Launchpad in the amount of 40,000,000 CTSI. In addition, rewards from staking are also included here.

January 23, 2023 Foundation Reserve Unlock

The upcoming CTSI Foundation Reserve unlock will occur in the amount of 21,538,333 CTSI (2.15%) of the total supply on January 23rd, 2023.

Where does the funding go?

Continued research and development of Cartesi
Marketing and community-based objectives
Business operations and legal expenses
Cartesi Foundation’s Grant Programs

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 infrastructure, 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 Blockchain OS 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 2025.

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.

This has been 100% allocated.

Private Sale tokens comprise 5.00% of the total token supply.

3.88% of the 5.00% has already been allocated through seven previous unlocks.
The next unlock will occur on January 23, 2023 in the amount of 5,555,558 CTSI.
Unlocks will keep occurring on a quarterly basis thereafter and be fully unlocked on April 23, 2023.

Strategic Sale tokens comprise 0.67% of the total token supply.

This has been 100% allocated.

Team tokens comprise 15.00% of the total token supply.

8.57% of the 15.00% has already been allocated through four previous unlocks.
The next unlock will occur on April 23, 2023 in the amount of 21,428,572 CTSI.
Unlocks occur twice a year and will be fully unlocked on April 23, 2024.

Advisors tokens comprise 2.11% of the total token supply.

This has been 100% allocated.

Foundation Reserve tokens comprise 40.22% of the total token supply.

37.75% out of 40.22% has already been allocated (not including this upcoming unlock on January 23, 2023).

Mining Reserve tokens comprise 25.00% of the total token supply.

Please see the Mine Reserve transparency report

About the Cartesi Foundation

The Cartesi Foundation is a non-profit organization dedicated to supporting the Cartesi technology and the decentralization of the Cartesi network. The Foundation’s mission is to be a supporting member of the Cartesi community, alongside the many devoted contributors and participants that give Cartesi life, through funding, education, grants, strategic alliances, and other focused activities. The Foundation is committed to supporting the development of the first operating system (OS) for blockchains; bringing mainstream scalability and convenience to developers and users of decentralized applications.

With a decentralized OS, not one company controls the features, upgrades, and rules. Everyone can have a say. When it comes to proposing new features, gathering community feedback, and documenting design decisions, the Cartesi Foundation intends to use a Cartesi Improvement Proposal (CIP). It is a formalized design document for the Cartesi community. It gives information or describes a new feature for the Cartesi network, its processes, or the ecosystem in a concise and technically sufficient way for the Cartesi community to understand.

This CIP process allows mainstream developers the flexibility to help shape the OS they want to use, i.e. “If there’s a feature you need, propose it to the community and let’s build it together”.

About Cartesi

Cartesi Rollups is a modular execution layer that elevates simple smart contracts to decentralized Linux runtimes. It allows developers to launch highly scalable rollup chains, and code decentralized logic with their favorite languages and software components.

Every DApp has its own high-performing rollup chain;
No cannibalization of resources from other DApps in Cartesi’s ecosystem;
No network gentrification;
Enable an entirely new class of DApps that currently cannot run on EVM chains;
Preserve the strong security guarantees of the underlying blockchain

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