Citrus: Integrating the gaming sector with blockchain advancements
Although there are more than 2 billion gamers worldwide only a few get the chance to mint money. Citrus aims to tackle this problem by giving bonuses and rewards to every gamer who plays blockchain games while building utility apps.
Citrus aims to create its own ‘Blockchain Technology’ and in taking the first step towards this goal, it will launch its decentralized exchange, NFTs, Social media app, and Decentralized games.
What is Citrus?
Citrus is a Binance Smart Chain token that aims to fast-track the process of transforming games and providing solutions by the introduction of the next-gen DeFi ecosystem, NFTs, and user-friendly DApps to the blockchain ecosystem.
The platform’s corporate vision is to lead the blockchain revolution so as to create a global crypto marketplace and its mission is to create a marketplace that has a global reach in order to provide a secure and trusted platform. Citrus believes in creating an ecosystem of a shared economy where global growth can be leveraged by everyone using the instruments provided by them.
Upcoming Private sale
The platform is starting its private sale from 11 July and plans to give away a 10% bonus for the first week, a 7% bonus for the second week, 5% for the third week to every buyer who purchases the Citrus token in a private sale.
Key Features
Some of the major features of Citrus include,
- Blockchain games – Citrus is a gaming token that is mined in order to fund blockchain gaming and the Multiplayer Online Battle Arena (MOBA) games. In order to revamp the gaming environment, Citrus is looking to enable all the games with Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR).
- Affix system – The giant whales and humpbacks in the system have made the cryptocurrency world volatile. However, through the Affix system, an investor can hold a limited worth of Citrus Token in a single wallet until the conclusion of a Private sale.
- Practical use case- Citrus moves away from the initial idea of considering cryptocurrency as just a source of investment, rather the Citrus token aims to make digital currency accessible enough to be used in daily lives just like fiat money.
- Philanthropy- The Citrus platform aims to distribute a 5% liquidity acquired in Private Sales and IDOs to Covid relief programs and NGOs to do their part for the greater good.
- Audited Code- Citrus conducts regular audits in order to eliminate the chances of bugs and security breaches. They also conduct a comprehensive analysis of the code itself to make their system novel.
Source: Citrus Whitepaper
Token Distribution
The total supply of the Citrus token is 383 million, out of which 53.2 million tokens will be supplied with the initial price of $0.50 in the first week, $0.75 in the second week, and $0.95 in the third week. Citrus has burnt 3 million tokens and they are not included in the distribution.
163.4 million tokens would be locked for a period of 5 years after which 10 million of the tokens would be released every quarter to strengthen global enterprises and blockchain start-ups, promoting the blockchain gaming community and creating banking and governance tokens.
53.2 million tokens would be distributed in 3 phases starting from 11 July for 21 days. The Initial DEX offering (IDO) will see the distribution of 53.2 million tokens in 2 phases.
Another 17 million tokens would be utilized to incentivize holders through Citrus’s Airdrop and Bounty programs. A 10% bonus would be given to the token buyers who buy the token in their Private Sale according to their holdings.
11.5% of the available tokens would be reserved for projects that are innovative and 5% of the available tokens would be dedicated to the expansion of the Citrus team. Lastly, 3% of the available tokens would be reserved for marketing and promoting Citrus on various platforms.
Staking and Revenue streams
By allowing validators to have a stream of income by staking CTS, Citrus would allow them to stake tokens on the platform.
The unparalleled array of games offered by Citrus would help to generate revenue that would further be invested in order to strengthen the gaming community.
Asteroid tokens would be an innovative token that would offer a convenient opportunity to investors who are looking for portfolio diversification and long-term appreciation.
DApps on Citrus blockchain would empower projects such as JUICE, a one-of-its-kind decentralized social media network to bring positive reinforcement to blockchain-based business models.
Citrus charges a nominal fee to traders and with a growing audience CitrusEX and Citrus Wallet plan to make a substantial profit.
Source: Citrus whitepaper
Conclusion
Citrus gaming token’s aim of integrating the gaming industry with advancements in the blockchain would help make the ecosystem more integrative and rewarding for users. It is also in the process of launching its DEX, NFTs, and social media app, along with the decentralized games that they offer.
The platform also has a very transparent approach to nurturing faith with their audiences and a strong rewards and benefits mechanism that works in favor of the users. Citrus also has a venture capitalist investment plan which provides the platform with a lot of potential to grow and thrive in the future.
For more information, check out their website.
Disclaimer: This is a paid post and should not be treated as news/advice
OhNoCrypto
via https://www.ohnocrypto.com
Anjali Sriniwasan, @KhareemSudlow
