Token Spotlight: CLARITY
8/28/2024
CLARITY is the governance and utility token of the Clarity DAO. The DAO was introduced in 2022 with a mission to simplify the process of creating and managing Decentralized Autonomous Organizations on Cardano. By leveraging a user-friendly, no-code interface, Clarity DAO empowers users to participate in on-chain governance, create proposals, and vote with ease. This article will delve into CLARITY, its liquidity, utility, and more.
CLARITY Distribution & Tokenomics
CLARITY has a total supply of 2 billion tokens, of which currently 609.5 million are in circulation, equivalent to 30.5%. At 0.0152 ADA per CLARITY, this gives the token a market cap of Market $3.33 million USD and a Fully Diluted Valuation (FDV) of $10.93 million USD, placing it at #23 in the Top 100 tokens on Cardano.
There are currently 276 wallets holding the CLARITY token, an increase of 14.05% in the last 30 days, highlighting a growing community that is supporting the project. The token has a Median Holder Balance of 1.01K CLARITY, equivalent to 15.43 ADA, and an Average Holder Age of 96.09 days.
The majority of CLARITY holders have positions worth between 0–1k ADA, reflecting a widespread distribution among smaller investors. Examining the Token Seniority Distribution, over 80% of the token supply has been held for 90–180 days, indicating that many holders are committed to maintaining their positions. While there have been fewer new holders recently, this trend suggests a stabilizing community of token holders who are focused on long-term accumulation rather than quick turnover.
The image above offers a detailed breakdown of the CLARITY Token’s tokenomics.
Liquidity
CLARITY has 1.60 million ADA pooled in liquidity across two Decentralized Exchanges on the Cardano blockchain. Over half of the token’s liquidity is held on SundaeSwap v3 which has 56.26% of the total liquidity, followed by Minswap V2 which holds 39.47% of the token liquidity.
Volume
CLARITY has a Lifetime Trading Volume of 1.94 million ADA over a span of 2,077 trades. 914.96K ADA of this was buy volume while 1.02 million ADA was sell volume. The Majority of this token’s trade volume has taken place on the SundaeSwap DEX.
The Shark (100–250K) wallet size leads this token in trading volume, followed closely in second by the Swordfish (25–100K) wallet size. The Whale (1M+ ADA) wallet size has the least amount of trading volume for this token.
Utility
We’ll now delve into the various utilities that CLARITY offers its holders.
Governance Actions: The $CLARITY token is used to pay for governance actions within the Clarity ecosystem, allowing holders to propose and vote on decisions that shape the future of the Clarity DAO.
Governance Power: Holding $CLARITY grants governance power in the Clarity DAO, enabling token holders to influence key decisions and participate in the overall direction of the protocol.
Incentivizing DAO Participation: $CLARITY tokens are used to incentivize participation in DAOs that utilize the Clarity Protocol, rewarding active members who contribute to the ecosystem’s growth.
Staking: Holders can stake their $CLARITY tokens to earn staking rewards, providing an additional incentive to maintain and increase their holdings over time.
Conclusion
CLARITY’s utilities provide a solid foundation for participants to engage meaningfully within the DAO framework, highlighting its potential to drive decentralized governance on Cardano. With a strong community and more projects opening DAOs on the Clarity protocol, CLARITY is poised to play a significant role in DAO formation in our ecosystem. It will be interesting to see how CLARITY and the Clarity DAO shape the future of DAOs and DAO infrastructure on Cardano in the coming weeks and months.
You can find out more about Clarity at the following link: https://www.clarity.community/
This article is strictly for informational purposes and does not constitute a promotion or financial advice. Our aim is solely to provide users with the latest news and updates within the Cardano ecosystem. Token info was accurate at the time of writing.
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