All you need to know about the Cryptonite PRO (CPRO) coin
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The CPRO’s value as a reward and payment coin will rise through broader distribution, expanding its power to access top Wizards, join Tribes, and offering a growing menu of CPRO discounts to global events, market intelligence, and high-end goods and services.
The first Web3 social network offering crypto rewards
The CPRO project goal is to be the reward coin for global innovators and risk investors who share expert knowledge and opinion on the emerging companies and trends that matter. With our V.25 launch in the 4th quarter of 2022, Cryptonite will be the first Web3 live video social network in history where presenters and members can earn cryptocurrency tips and rewards.
Successful decentralized social networks of the future will offer transparency of purpose and economic alignment. The true value of a network’s currency will ultimately be equal to the perceived value of being a member of the community. —Balaji Srinivasan, former Coinbase CTO & Partner @ Andreessen Horowitz
The Cryptonite community is led by our Wizards, who are at the forefront of cutting-edge innovations, including Web3 dApps, artificial intelligence, virtual reality, the metaverse, robotics, regenerative science, green energy and recycling, and advanced devices. From fashion and design to bitcoin mining and decentralized finance, Cryptonite represents the most clever entrepreneurs and fastest-growing companies on the planet.
Historically, the greatest value found in most social networks has been within interest-niche forums and groups. Twitter could sell the ability for members to create DAO (decentralized autonomous organizations)-governed Tribes leaders can earn CPROs and members test ideas, gain knowledge, and join together to make great things happen.
The CPRO networks will create a new marketplace of valuable expert knowledge and perspective, and we are committed to sharing revenue with the creators in a way that offers upside.
Apply to be a Cryptonite Wizards here. Meet some of the Wizards here. Join the Wizard and Founding Partner Telegram Group here.
A utility token on the Binance Smart Chain (BSC)
The Cryptonite PRO (CPRO) is a utility coin that resides on the Binance Smart Chain (BSC). BSC is a public blockchain owned by Binance, the world’s biggest Bitcoin and cryptocurrency exchange, by trading value and volume. Notable coins that operate on the BSC include:
- Binance Coin (BNB) — The coin for the Binance crypto exchange
- Dogecoin (DOGE) — The king of meme coins pushed by Elon Musk
- PancakeSwap (CAKE) — Prominent decentralized crypto exchange
- Gala (GALA) — Crypto-gaming leader
- Seesaw Protocol (SSW).
BSC is a hard fork of the Go Ethereum (Geth) protocol and, as such, is Ethereum Virtual Machine-capable and shares many similarities with the Ethereum blockchain. Most significantly, BSC developers have improved upon Geth by changing the consensus mechanism to allow for cheaper and faster transactions.
The CPRO wallet
The Cryptonite membership includes a hosted wallet to receive, store, reward, and send CPROs. The CPRO wallet allows members to manage their CPROs only, and not other cryptocurrencies or cash. In the advent that the CPRO lists on public cryptocurrency exchanges, members ultimately will need at least one other crypto wallet (see below) to sell and trade CPROs for other cryptos or cash.
Modeled, in part, on the successful airline ‘frequent flyer’ reward programs, our members earn CPROs for their community contributions. The CPRO wallet allows members to manage and redeem their CPROs for exclusive subscription access to Wizards and purchasing discounts in the CPRO Shop — our decentralized online store. Members can also use their wallet to buy additional CPROs.
Contrary to popular belief, crypto wallets do not indeed store digital assets. Instead, coins never leave the blockchain they reside on and merely transfer from one address to another. Essentially, crypto wallets generate the necessary information to send and receive cryptocurrency via blockchain transactions. Among other things, such information consists of one or more pairs of public and private keys.
Like all cryptocurrencies, CPROs are stored in a smart contract on the blockchain — in our case, the BSC blockchain. However, unlike non-custodial wallets, members can reset their password using our platform. For new users, custodial solutions like the CPRO wallet often feel safer because they don’t risk losing their private keys and seed phrases needed to access their wallets and, therefore, won’t risk losing their CPROs.
Until the CPRO lists on public exchanges, members will not be able to send their CPROs to another crypto wallet. However, when the CPRO lists on cryptocurrency spot exchanges, their CPROs will be unlocked and transferable to another crypto wallet with access to public crypto exchanges. Members will then be able to trade their CPROs for other cryptos or convert them to cash. In addition, depending on their outside wallet, members may also access more advanced crypto activities like yield farming, staking, lending, borrowing, and more.
Coinbase is a popular hosted/self-custody wallet that boasts having 100 million users to buy, sell, and manage the top 80+ cryptos approved by the company. If members wish to convert crypto to cash, they can connect Coinbase to their PayPal and most bank accounts. Read more about crypto wallets here.
Until the CPRO coin trades on public exchanges, members will not be able to send their CPROs to another crypto wallet. However, when the CPRO lists on cryptocurrency spot exchanges, their CPROs will be unlocked and transferable to another crypto wallet connected to public crypto exchanges. Members will then be able to trade their CPROs for other cryptos or convert them to cash. In addition, they may also access more advanced crypto activities like yield farming, staking, lending, borrowing, and more, depending on which outside wallet they choose.
Trust Wallet and MetaMask are two popular crypto wallets compatible with the Binance Smart Chain (BSC). Read about the best crypto wallets for Binance Smart Chain (BSC) coins here.
How members earn reputation points and CPRO rewards
Members earn ‘power points’ and corresponding CPRO rewards for participating and contributing to the community. Introducing themselves and others, vouching for professional peers, sharing provocative content and opinions, igniting conversation and debate, and recruiting new members are just a few ways members earn reputation points and CPROs. In addition, members receive NFT badges as their community status rises and for specific achievements within the network.
In the beginning, our reputational system will gather tags associated with a member’s activity and start rating them in their areas of interest, such as artificial intelligence, bitcoin mining, or nutrition. In addition, our members are encouraged to tag their professional skills and interests and the content and commentary they share for their benefit.
As we gather and quantify more data, we will evolve our analytics engine (affectionally named Sherpa) into a ‘neural network.’ In other words, Sherpa will feed member behavior patterns and outcome data back into the system to refine and optimize the output. The more Sherpa learns about each member, the better she can provide personalized introductions and recommendations, identify member expertise and skill sets, visualize connections, and make career path suggestions.
The high-level goal is to design a network that best mirrors how the real global Silicon Valley creates opportunities and values execution and results. Over time, we expect a super-class of popular and proven experts will rise and help teach and direct the community. The best and the brightest have the potential to earn significant CPROs by offering member subscriptions to their feeds, allowing direct message access, and offering other valuable intelligence and support to their subscribers.
Milestones
Private CPRO OTC sale @ $.005 per coin to Wizards and Founding Members — Present to September 1 2022
Founding Brand Partner sales campaign kick-off — 3rd Quarter 2022
Cryptonite 200 Top Company Competition — 3rd Quarter 2022
Cryptonite Live! Video launch — September 2022
Public CPRO pre-sale #1 @ $.0075 per coin–4th Quarter 2022
Cryptonite Wizard home page launch — 4th Quarter 2022
Public CPRO pre-sale #2 @ $.01 per coin–4th Quarter 2022
Public Dutch Auction — 4th Quarter 2022 — First Quarter 2023
Cryptonite News page launch — First Quarter 2023
CPRO Shop launch — First Quarter 2023
Launch Planet Cryptonite Metaverse — 2nd Quarter 2023
Checkout the CPRO active pre-sale site here:
CPRO’s long-term tokenomics strategy
The total CPRO fixed supply is 21 billion coins. Cryptonite’s current CPRO offering plan reserves:
- 34 percent of the total CPRO mint for sale to public investors
- 30 percent to be retained by Cryptonite Ventures
- 35 percent to manage and fund new CPRO reward-driven trusted networks
- A one percent reserve for donations to blockchain non-profit Truhoma and other Web3 non-profit platforms offering direct donor-to-recipient interaction and transparency.
Cryptonite’s current private offering to Cryptonite Wizards and ‘Friends of Cryptonite’ of 200 million CPROs valued at $.005 per coin ends after a maximum of $1 million in CPROs are sold or by September 15, 2020, whichever comes first.
Set to launch on October 1, 2022, the CPRO public pre-sale offers 200 million coins for a minimum price of $.0075 per CPRO and ends on October 31, 2022. The second round of the public pre-sale of an additional 300 million CPROs at $.01 per coin kicks off on November 1, 2022, and ends on November 30, 2022.
The CPROs current target date for its Dutch auction and Initial Coin Offering (ICO) is between December 2022 and February 2023. However, the date and CPRO pricing for this offering will be subject to market and regulatory conditions.
We project a 33 percent circulating CPRO supply after our ICO. To expand CPRO distribution, 30 percent of the CPRO mint will fund a new generation of ‘trusted’ professional networks whose members are recognized and rewarded CPROs for their contributions. The investment horizon restriction for these CPRO investments is a minimum of 5 years.
Our view is that by sharing our technology platforms and investing CPRO reward coins in a ‘network of networks designed to attract the highly-prized modern professional demographic, the value of the CPRO will continue to rise.
If members are managing an existing professional community or have and have a clever idea for a new one that would like to overage the CPRO reward coin, contact us here.
Total commitment to the CPRO economy
To be successful, the CPRO networks need to create an economic alignment with our members. We must demonstrate a complete commitment and belief in our currency. Examples of how the networks will demonstrate this commitment include;
- All rewards paid out to a network-to-member or member-to-member will be in CPROs.
- Only CPROs are accepted for paid memberships.
- The only way to subscribe to a Cryptonite Wizard is with CPROs.
- The only way to enjoy discounts on goods or services in the CPRO Shop is to pay with CPROs.
- Wizards are incentivized to recruit new Wizards with CPRO rewards.
- All CPRO network partners are motivated by a commission plan to market the CPRO Shop, where they can also add products and services to sell and personalize for their target audiences.
If members do not have enough CPROs in their wallet to reward or make a payment, the member can authorize our platform (via GoCrypto) to purchase the CPROs they need on the open market to complete their transaction.
As former Coinbase CTO Balaji Srinivasan states above, the true value of a network’s currency will ultimately equal the perceived value of being a community member. The CPRO plan is designed to create this value through economic member alignment and recognition and inspire members to feel a karma-like stake in the CPRO community’s success.
CPRO Disclaimer: As a utility coin, the CPRO does not represent an ownership stake in a legal entity, nor do CPRO holders receive dividends. The CPRO’s primary economic purpose is to serve as a reward, service access, and discount coin within the Cryptonite decentralized social networking application and any future network partners who adopt the CPRO as their reward coin. The founders of Cryptonite plan to sell CPROs to the public on a pre-Initial Coin Offering (ICO) basis and list our coins on the top decentralized exchanges and Binance within the calendar year 2022. However, a potential CPRO ICO is subject to regulatory and market conditions out of the control of Cryptonite and, therefore, can not be guaranteed.
Sign up for the CPRO pre-sale alert list here. Also, feel free to get in touch with us at Faith@CryptoniteVentures.com for additional details or questions.
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Meet the Cryptonite Wizards
Our Wizards lead the Cryptonite community by sharing insider knowledge on the innovation trends and emerging new companies that matter.
Click here to apply to be a Cryptonite Wizard.
Cryptonite Telegram Group
Until our network app launches in the Fall of 2022, we are building a community on the Cryptonite Wizard Telegram Group by allowing our Wizards and Founding Members the ability to post and share. At the same time, the rest of the world may observe and learn.
Click here to join the Cryptonite Telegram Group.
