Towards the end of Q3 we announced CLO’s, which are Creator Liquidity Offerings and how deflationary they are for XCAD. They have been incredibly well received and we are pleased the community sees how effective they can be for deflation.
The CLO is a way of bootstrapping Liquidity for the Creator Tokens, while also locking up $XCAD. This allows users to get hold of Creator Tokens early, before they trade and before users can earn them, which will of course take a huge amount of XCAD’s supply off the market. Users put XCADs into the CLO, which are paired with Creator Tokens and locked into liquidity forever. In return, they receive an amount of Creator Tokens in proportion to the amount of the pool they own.
Getting allocation for the Creator CLO’s will work via a tiered staking system, where the more XCAD you hold and stake, the greater your chances at getting CLO allocation. There will be 5 tiers which are explained below:
Tier 1 — Stake 250–500 XCAD
- Earn x1 entry to win CLO allocation
Tier 2 — Stake 501–1000 XCAD
- Earn x2 entries to win CLO allocation
Tier 3 — Stake 1001–2000 XCAD
- Earn x4 entries to win CLO allocation
Tier 4 — Stake 2001–3000 XCAD
- Earn x8 entries to win CLO allocation
Tier 5 — Stake 3001+ XCAD
- Earn x12 entries to win CLO allocation
It is possible to win multiple allocations per CLO, however you obviously need to be at a minimum of Tier 2 to have a chance of this. Allocations will be done via a raffle system, so in theory an individual in Tier 5 could have up to 12 allocations, albeit highly unlikely. The increased entries however, obviously highly increases chances of firstly winning an allocation, but increases the amount of allocation overall you will get. The tiered raffle system provides further utility & demand for XCAD as the more XCAD you hold and stake, the more chances you have of getting allocation for CLO’s.
CLO’s will be launching next month.