ColdStack Token Metrics

Published in

ColdStack

3 min readApr 28, 2021

Dear community members, we are pleased to inform you that as we’ve recently completed our final rounds of private fundraising, we will be moving closer to beginning our long-awaited public sale! Because of our upcoming public sale, we feel it would be an appropriate time to outline updated metrics of our ColdStack token ($CLS).

Our official public sale and TGE will take place on the Ethereum network. Our native token will be based on the Ethereum network as well, however we plan to issue $CLS on the Binance Smart Chain (BSC) as well and implement a cross-chain bridge to swap tokens between Ethereum and BSC.

Additionally, we will be utilizing the Substrate private network for transactional billing. We will be switching to the Polkadot parathrtead / parachain later on, after they are released. Soon we will implement an Ethereum — Polkadot cross-chain bridge as well. This means eventually, ColdStack will accommodate cross-chain bridges for Ethereum, Polkadot, and the Binance Smart Chain.

Token ticker : CLS
Total supply : 50,000,000 CLS
Initial circulating supply : 1,475,000 CLS
Price of the last round : $0.5
Initial market cap on listing* : $737,500

* Concerning the IDO price

ColdStack Token Distribution

Token sale: 20.5% (10,250,000 CLS)
including

Private round: 12.0% (6,000,000 CLS);
Strategic round: 7.5% (3,750.000 CLS);
Public sale 1% (500,000 CLS)

Team: 10% (5,000,000 CLS)

Staking and governance: 20% (10,000,000 CLS)

Liquidity 10% (5,000,000 CLS)

Ecosystem fund: 35% (17,500,000 CLS)

Reserves: 4.5% (2,250,000 CLS)

Funding history

Private Round

Price: $0.1
Valuation: $5,000,000
Raised: $600,000

Strategic Round

Price: $0.2
Valuation: $10,000,000
Raised: $750,000

Public Round

Price: $0.5
Valuation: $25,000,000
Raised: $250,000

Lock-ups

Private: 10% TGE, 1 month cliff, 9months linear
Strategic: 10% TGE, 1 month cliff, 9months linear
Public: Fully unlocked
Team: 12 months locked, vested over 12 months
Staking and governance: Locked. Unlocked only after staking rewards, liquidity mining ,etc.
Liquidity: Unlocked based on market demand
Reserves: Locked, unlocked based on the platform’s discretion
Ecosystem Fund: Unlocked based on DAO governance

Token Utility

The $CLS token is the native token of ColdStack, and provides the backbone of our project’s ecosystem. CLS tokens will be utilized for a number of critical tasks when interacting with the ColdStack platform. One of the most important uses for the $CLS token is paying platform fees during the billing process. These fees are incurred by users who store and retrieve their data, and can be awarded to miners who run ColdStack Nodes.

$CLS tokens are also used for signing and authorizing transactions on the ColdStack platform as well as for creating access keys for users to retrieve their data.

NFT issuance and related operations on ColdStack will also be handled in $CLS tokens, with these NFTs then being transferred directly to the billed $CLS wallet.

$CLS tokens will also be the primary medium for conducting DAO governance. This will allow users to participate in vital decisions on the ColdStack platform such as admitting new nodes and handling customer complaints.

Follow our updates

We hope that you found our outline regarding ColdStack’s $CLS token informative. Please stay tuned: pretty soon we will release the information about the exact terms and conditions of the Public Sale!

Our Public Sale will take place during the 2nd week of May.

Official website: https://coldstack.io
Twitter: https://twitter.com/coldstack_io
Telegram: https://t.me/coldstackio
Medium: https://medium.com/coldstack