Creaticles
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Creaticles

$CRE8 Token Transparency Report

All data on token activity and movement can be found through our token smart contract.

Disclaimer: This report represents the circulation of supply that is not within $CRE8 treasury or control anymore. Out of the 78 million tokens distributed across the different tranches described in this article, 2.8 million tokens have not been retrieved. This includes 1.2 million from the Sushi liquidity pool and 1.6 million in unclaimed tokens from early investors.

In the current market, $CRE8 has a total of 5.65% circulating supply (7.53% if including liquidity such as Sushi liquidity provisioning and market-making).

Figure 1: Current Circulating Supply of $CRE8

Focusing on Figure 1’s circulating supply, we take a closer look and dissect every transaction from the Creaticles token contract. Not including liquidity, which only seeds buy-side and sell-side equally on both sides of the market, the majority of the distribution of tokens comes from (see Figure 2 below):

  1. The Miso IDO (40 million $CRE8)
  2. Early investors (8.4 million $CRE8)
  3. MEXC’s IEO and requested marketing budget (6.5 million $CRE8)
Figure 2: Breakdown of where the token circulation comes from (note: 2 transactions of 1 $CRE8 each are not included because those are test transactions)

Creaticles Treasury Transaction List

Since the Creaticles token contract was created with a total supply of 1 billion $CRE8, a total of 13 transactions were recorded on-chain. Out of the 13 transactions:

  1. the first transaction was an incoming transaction to supply the wallet with ETH in order to create the contract and execute future transactions;
  2. the next three transactions were contract-creation transactions (transaction 1, transaction 2, and transaction 3)
  3. the final nine transactions are outgoing transactions of $CRE8, and each transaction is accounted for below.

Outgoing Treasury Transactions of $CRE8

The nine transactions from the Creaticles Treasury are all accounted for below; no transactions were made to any team members or advisors, and recipients of each transaction can be confirmed on-chain. The details of each transaction are listed below.

  1. Transaction to Miso IDO: 40M $CRE8 (11/28/21)
  2. Test Transaction: 1 $CRE8 (12/1/21)
  3. Transaction to MEXC for IEO and Marketing: 6.5M $CRE8 (12/1/21)
  4. Transaction to Gate for Startup Event: 526K $CRE8 (12/2/21)
  5. Transaction to Early Investors: 10M $CRE8, 8.4M claimed (12/3/21)
  6. Transaction for SushiSwap Liquidity: 5M $CRE8, 3.8M claimed (12/3/21)
  7. Test Transaction: 1 $CRE8 (12/3/21)
  8. Transaction for Market Maker: 15M $CRE8 (12/3/21)
  9. Transaction for Sushi Onsen Rewards: 1M $CRE8 (12/3/21)

Special Section: The Early Investor 15% Unlock

Community members reported to the Creaticles moderators that the Creaticles documentation did not clearly state the 15% unlock for early investors at TGE. The Creaticles team took this accusation seriously and has investigated it internally. We have confirmed that one of our team members had added this information retroactively, which is unacceptable.

At the time of writing 3.1 million out of 8.4 million unlocked investor tokens (or 37.3%) have been moved. 13.2% was moved to Sushi, and 4.4% was moved to MEXC.

Creaticles Response

  1. The team member that committed this action has been immediately terminated. The team member will not receive any token allocation.
  2. While 3,137,500 $CRE8 from the investor unlock tranch have moved, Creaticles has repurchased the full amount of 8,401,875 million tokens from the market to account for any future actions, and will be returning it to the Creaticles treasury. As any remaining from the 10 million allocation is unlocked, Creaticles will account for those tokens until the full 10 million are accounted for and returned to the Creaticles treasury. Creaticles used a portion of its funds from the Miso IDO to make these purchases. Those tokens will be removed from circulation.
  3. The total impact of the current investor unlock is an additional 0.65% (6.5m tokens) to the token circulating supply. This is because not all of the allocation for the private round was sold; furthermore, we are working with the remaining investors to manage any additional unlocks, so those additional unlocks are remaining in the treasury at this time.
  4. $CRE8 treasury tokens will be transitioned into a multi-sig wallet as is customary.

Next Steps

Creaticles has been a project that the team has been working on since the early part of 2021. We’ve made a lot of progress, and launched main net alongside our Miso IDO with a great roster of partners already using our platform. We even used our own app to source the logo you see now.

We’re a team building for the long-term vision of making NFT-creation accessible to everyone. We’ve just started on our mission, and have had a speed bump but are continuing to grow, build, and learn. Thank you for reviewing this report, and we hope you join us on our journey whether you’re an artist, someone interested in getting custom NFTs, or just a fan.

Sincerely,

The Creaticles Team

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