Discovery Batches & securing a Contribution Slot

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Last updated 8 months ago

Discovery Batches & securing a Contribution Slot

The Discovery Batches' voting phase will only be live once the citizend platform fully launches after July 2024

The specific timelines and frequency of Discovery Batches are subject to adjustments and are provided only for reference purposes.

As a platform curated by the community, we've established a process that transitions projects from a listing phase to a contribution phase, fundamentally based on the merit of each project to activate their supporters and secure a contribution slot. This process is known as Discovery Batches.

Discovery Batches have three phases:

Listing Phase (Begins on Sunday, lasts for 24 hours): in this phase, projects are announced on the citizend platform and have the opportunity to share their listing with their community. Users visit the citizend platform to explore the project details, sign up, and initiate their KYC onboarding process (if not previously completed).
Voting Phase (Begins on Monday, lasts for 24 hours): During this phase, verified users are able to cast one vote for their preferred project. Projects compete for a single contribution slot, awarded to the project that secures the most community votes, adhering to the one-person-one-vote principle. The winning project is revealed on Tuesday. Following the announcement, potential contributors are encouraged to finalize their KYC onboarding by Friday, to ensure all details can be processed before the contribution window starts.
Contributing Phase (Begins on Saturday, 12 hours duration): To promote fairness and ensure alignment with community values, citizend employs a Two-pool contribution system. When listing, projects set a maximum and minimum target raise amounts, along with the amount of tokens they desire to distribute. These parameters are evenly divided in two halves: the Voter's Half, accessible solely to fully verified citizends who voted for the winning project, and the Stakers' Half, available only to fully verified citizends who have previously staked their tokens on the citizend platform. After the 12-hour window closes, the citizend smart contract calculates and allocates the contributions to the project, and the project's tokens to all contributors. Further information on how allocation per contributor is calculated and additional platform mechanics can be found on the Bicameral contribution system and the Rising tide mechanism pages.

PreviousProject Listings NextBicameral Contribution System

Last updated 8 months ago

The Discovery Batches' voting phase will only be live once the citizend platform fully launches after July 2024

The specific timelines and frequency of Discovery Batches are subject to adjustments and are provided only for reference purposes.

Discovery Batches have three phases:

Listing Phase (Begins on Sunday, lasts for 24 hours): in this phase, projects are announced on the citizend platform and have the opportunity to share their listing with their community. Users visit the citizend platform to explore the project details, sign up, and initiate their KYC onboarding process (if not previously completed).
Voting Phase (Begins on Monday, lasts for 24 hours): During this phase, verified users are able to cast one vote for their preferred project. Projects compete for a single contribution slot, awarded to the project that secures the most community votes, adhering to the one-person-one-vote principle. The winning project is revealed on Tuesday. Following the announcement, potential contributors are encouraged to finalize their KYC onboarding by Friday, to ensure all details can be processed before the contribution window starts.
Contributing Phase (Begins on Saturday, 12 hours duration): To promote fairness and ensure alignment with community values, citizend employs a Two-pool contribution system. When listing, projects set a maximum and minimum target raise amounts, along with the amount of tokens they desire to distribute. These parameters are evenly divided in two halves: the Voter's Half, accessible solely to fully verified citizends who voted for the winning project, and the Stakers' Half, available only to fully verified citizends who have previously staked their tokens on the citizend platform. After the 12-hour window closes, the citizend smart contract calculates and allocates the contributions to the project, and the project's tokens to all contributors. Further information on how allocation per contributor is calculated and additional platform mechanics can be found on the Bicameral contribution system and the Rising tide mechanism pages.