Which country issued CTSI coins?

CTSI coins, the native token of the Cartesi network, were issued by the Cartesi Foundation, a non-profit organization registered in the Republic of Seychelles.

Nov 27, 2024 at 01:32 pm

Which Country Issued CTSI Coins?

Introduction:
Cartesi (CTSI) is a decentralized computing platform that enables developers to build and deploy Ethereum-based smart contracts and applications using standard programming languages and software tools. CTSI coins are the native token of the Cartesi ecosystem, serving as fuel for the network, powering various operations within the platform, and facilitating network security and governance.

Country of Origin:

CTSI coins were issued by the Cartesi Foundation, a non-profit organization registered in the Republic of Seychelles. The foundation is responsible for overseeing the development and governance of the Cartesi network and its ecosystem.

Overview of CTSI Coin Issuance:

1. Initial Coin Offering (ICO): CTSI coins were initially offered through an ICO in 2018. The ICO raised approximately $1.1 million in funding from participants around the world.
2. Token Distribution: Upon the conclusion of the ICO, CTSI coins were distributed to participants based on their contributions. A portion of the tokens were allocated to the Cartesi Foundation for ongoing development and operations.
3. Genesis Block: The Cartesi network officially launched with the genesis block in October 2020. At this point, the initial supply of CTSI coins, as determined during the ICO, was released into circulation.

Governance and Token Allocation:

CTSI holders play a crucial role in the governance of the Cartesi network through decentralized autonomous organization (DAO) mechanisms. The token's allocation at launch was as follows:

• Team and Advisors: 20%
• Foundation: 20%
• Contributors and Partners: 15%
• Seed Round Investors: 10%
• ICO Participants: 25%
• Public Sale: 10%

CTSI Token Utility:

Within the Cartesi ecosystem, CTSI coins serve a vital purpose:

• Transaction Fees: The network uses CTSI coins to cover transaction fees for deploying and executing smart contracts.
• Node Operation: Validators who contribute to the network's security and consensus mechanism are rewarded with CTSI tokens.
• Staking: CTSI holders can stake their tokens to participate in the network's governance and earn rewards.
• Reward Distribution: Network participants, including developers, node operators, and delegators, are compensated with CTSI tokens for their contributions.
• Network Expansion: The Cartesi Foundation utilizes CTSI coins to fund research and development initiatives, as well as business development activities to foster the growth of the ecosystem.