Community Sale details + FAQ
Last updated
Last updated
The citizend Community Sale is the first chance for the community to contribute to the project. Learn more about the key dates and mechanics below.
Community sale details
Network: Arbitrum One
Allocated supply: 250,000 - 1,250,000 (0.25%-1.25% of total CTND supply)
Min. amount to be raised: $50k
Max. amount to be raised: $250k
Price/token (FDV): $0.2 ($20m) - fixed
Min. allocation/participant: $100
Max. allocation/participant: TBD - determined once sale ends by Rising Tide Mechanism
Lock-up terms: 20% unlocked on TGE, followed by 6 month linear vesting for remaining 80%
Contribution token: USDC
Requirement to participate: Get your citizend Passport (Fractal ID KYC)
BONUS: participants of the previous CTND Community Sale will receive an additional 25% CTND tokens based on their confirmed contribution
Community sale key dates
Contribution phase - Submit your contribution and secure your CTND allocation!
Start: Wednesday, June 26 2024 at 12pm UTC
End: Friday, July 26 2024 at 12pm UTC
Community Sale FAQ
Q: What are the official links for the CTND Community Sale? - Official contribution website: app.citizend.xyz - Verified Smart Contract: https://arbiscan.io/address/0x85b34Aa54fdf8242e4656eA50b711F45340925bC
Q: What do I need to do to be eligible for the 25% bonus for previous CTND Community Sale participants? If you participated in the previous CTND community sale you are eligible to receive an additional 25% CTND tokens based on your confirmed contribution (e.g., contribute $1,000 USDC and receive 6,250 CTND – 5,000 CTND for the contribution + 1,250 CTND bonus). Make sure to use the same wallet you used for the previous community sale as eligibility is based on registered contributions in the previous CTND Community Sale Smart Contract. The bonus is calculated automatically and you will be able to see details in the 'My Projects' tab.
Q: What are the requirements to contribute in the CTND Community Sale? As long as you have a valid citizend Passport (Fractal ID Plus KYC verification for the citizend Journey), you will be able to contribute in the CTND Community Sale starting on June 26 at 12pm UTC. You can get your citizend Passport (Fractal ID KYC) any time (may take up to 48h for approval).
Q: Are there any restricted jurisdictions? Yes. Unfortunately citizens, residents (tax or otherwise) or green card holders of the United States of America, and residents or citizens of the British Virgin Islands, Cayman Islands, North Korea, Iran, Russia, Venezuela and Canada are not eligible to participate to get a citizeind Passport and therefore can't participate in citizend’s Community Sale.
Q: I am having issues with my citizend Passport (Fractal ID KYC), what can I do? You can check the status of your Fractal ID verification in https://app.fractal.id/login. If you have any issues, please contact Fractal ID support in https://help.fractal.id/support/home. Please notice eligible wallets are updated on a periodic basis, and it may take some time before you can contribute once you are approved. Please open a ticket in https://discord.gg/citizendxyz and someone in our team will assist you.
Q: How do I get USDC in Arbitrum One? You can transfer USDC to Arbitrum One directly from most Centralized Exchanges like Binance or Coinbase. Alternatively, you can also transfer from other L1s/L2s. If you plan to transfer from Ethereum, we recommend that you use the official Arbitrum Bridge to transfer ETH: https://bridge.arbitrum.io/ and then you swap to USDC in a reputable DEX like Uniswap: https://app.uniswap.org/swap?chain=arbitrum
Q: Where can I see more details on use cases and distribution of the CTND Token? Please check Introducing the CTND Token.
Q: When will the CTND tokens be distributed to Community Sale participants? CTND Community Sale participants will be able to claim their CTND tokens after the token launch (TGE), targeted for late 2024. 20% of CTND tokens will be unlocked on TGE, followed by 6 month linear vesting for remaining 80%.
Q: What is the Rising Tide Mechanism? The Rising Tide Mechanism is citizend's contribution mechanism for all projects launching in the platform. This mechanism optimizes for maximum possible token distribution, but also enables price discovery, finding a positive balance between projects and their community members' goals. For more details, please check Rising Tide Mechanism. For this sale, the price/CTND is fixed at $0.2 and there will not be price discovery.
Q: Is my submitted desired USDC allocation confirmed? Your final USDC allocation will only be confirmed when the CTND Community Sale ends on July 26 at 12pm UTC. The maximum allocation per participant is determined by the Rising Tide Mechanism, based on the total amount of USDC contributed by all participants. The remaining contributed USDC that is not allocated will be able to be claimed back after the Community Sale ends.
Q: What are the possible outcomes of the CTND Community Sale? There are mainly 3 possible scenarios on July 26 at 12pm UTC: 1. If the total contribution is below USDC 50k, the Community Sale will not be successful, and all contributors will be able to claim back their desired contributions. 2. If the total amount contributed is between USDC 50k and USDC 250k, all participants will get 100% of their desired contribution. 3. If the total desired contribution is above USDC 250k, no more than USDC 250k will be confirmed in total. The Rising Tide Mechanism will determine a maximum allocation per participant (same for everyone). All participants will still receive an allocation of at least USDC 100, but some participants will see their desired allocation being reduced.
Q: Are the citizend Smart Contracts audited? Yes, you can find the audit reports in our public Github.
Q: I have another question that is not covered in this FAQ If you have any other questions, please join our Discord and open a ticket. One of our Community Managers will assist you as soon as possible.
