POWER Newsletter October 2021
Dear POWER Community,
The POWER news has been very busy and a lot of information has been communicated during the month of September, it is time to review with you…
A successful ICO
As you know, the ICO of the POWER ended on September 1st. We consider that this operation was a success since we raised the means to build our independent online voting platform (“voting cloud” details here https://civicpowerio.medium.com/voting-cloud-c36be9c64a39).
Among the numbers to remember:
- 2400 participants,
- 23 million $POWER tokens acquired (including 4.5 million offered as compensation during the pre-sale),
- a total of 3.5 million USDT raised.
See our press release for more information (in French).
Token distribution Q1/2022
As planned, the distribution of $POWER tokens will take place before the first burn (see how $POWER works here https://pwrvote.medium.com/power-tokenomics-a4ad18803a78) in Q1 2022. In the meantime, the tokens will be stored in your Civicpower account.
As a reminder, the buy back & burn mechanism is at the core of our business model. Each quarter, we plan to spend more than 56% of the revenue generated by the Votelab business related to the use of the application to buy back $POWER tokens on the market:
- 32% to be burned,
- 24% to pay the team.
Read our dedicated Medium article for more details on this point.
The quotation on PancakeSwap
Two votes and surveys for the community were organized after the ICO in order to establish an effective strategy for the IDO (Initial Dex Offering or introduction of POWER on the crypto market):
The IDO is the next step for our $POWER token to meet the market and for our community to grow.
A DEX (decentralized exchange) has many advantages for us at this stage:
- easy to implement: unlike a CEX (centralized exchange) we will not have commercial outreach time, referencing, technical integration or prohibitive costs for a fledgling token,
- international by essence,
- progressive in its volume: we can increase the liquidity at any time if our token interests the market
A POWER/BUSD liquidity pool is planned before the end of the year on Pancakeswap (BSC network) which will be fed by the tokens of the Civicpower association as validated during the two votes.
What to remember about the Shadow Liquidity Pool (SLiP) membership vote?
With the exception of 50 community members who have since been reimbursed, all participants have placed their trust in the team through this POWER marketing agreement called “SLiP”.
The mechanism adopted is as follows:
- while waiting for the distribution of the tokens and with the agreement of all, the POWER will be put on the market through the reserve of the association,
- all POWER sold in ICO (including of course those of the team) are “blocked” (“vesting”) in the “Shadow LIquidity Pool” between the end of the ICO and the 1st burn Q1/2022 (note that this is the schedule that was already provided in the whitepaper)
Your POWER now placed in the SLiP, you will have 2 possibilities (one will not prevent the other):
- sell or buy POWER tokens from this pool through an OTC server called “OTCivic” to secure the exchange,
- Place your POWER tokens on a personal term investment account called “Réserve Citoyenne” through 6, 12, 24, 36 months staking contracts.
In order to secure our private liquidity pool SLiP we have set up a level 2 blockchain for managing tokens on the Binance Smartchain called POWER Layer 2 (or PL/2). It allows the transparent management of the movements of “vested” POWER.
At any given moment, the number of POWER within PL/2 added to the number of POWER in circulation on the BSC will give the maximum total of tokens of 50,000,000 (also called total supply). To put it differently and frankly: the goal here is not to create fake POWER!
The first concrete application of PL/2 is the OTCivic platform.
More details about the IDO and the liquidity pool on our dedicated Medium article.
In short, you will not be stuck longer than expected in the original whitepaper, the release of the ICO tokens will still occur before the first burn scheduled for Q1 2022. Through this private liquidity pool initiative, the Civicpower team allows you to take advantage of this waiting time to grow your assets.
An initial listing (IDO) in several stages
We distinguish 4 phases that will lead us to the introduction of the POWER on the markets:
- week 40 (from 4/10/2021): gather 100% of tokens in the SLiP and allow the first exchanges on OTCivic,
- week 42 (from 18/10/2021): price ramp-up on OTC between members of ICO participants,
- week 42 + 20 days (at the latest): OTCivic opens to the rest of the world, tokens will be able to be exchanged with new members who did not participate in the ICO,
- before the end of the year: introduction of the token on the market on Pancakeswap.
In order to prepare the arrival of POWER on the market, the minimum price of the token exchanged via OTCivic is regulated. Details of this evolution are available here :
As previously explained, it will be possible from the 2nd phase (week 42) to place your tokens on a personal term investment account called “Citizen Reserve” and thus benefit from rewards.
The OTC platform is open
The OTCivic platform is now open, it allows you to exchange your POWER tokens over the counter while waiting for the market launch planned for the end of the year!
Access to the platform: https://otc.civicpower.io/
To help you to use the platform and sell your tokens, a guide is available here:
A telegram group has been created by the community to facilitate the search for potential buyers or sellers: https://t.me/powerotc.
To help you understand what we have decided, implemented and the Civicpower roadmap, several live and Q&A sessions have been organized over the past month.
Join our Telegram channel of announcements to find them easily: https://t.me/powerAnnouncements
We are aware that many concepts and mechanics may seem difficult to understand at first, that’s why we are available via our support (email, telegram) and provide you with all the necessary tools to help you get the most out of your POWER tokens.
If you have any questions, do not hesitate to ask your questions on our Telegram channel, we will be happy to exchange with you: https://t.me/poweroffEN.
The Civicpower team is now more than twenty people within the foundation, the integrator Votelab and the token POWER team.
Civicpower website https://civicpower.vote
Public vote cloud https://app.civicpower.io
$POWER token https://civicpower.io
Telegram official channel https://t.me/poweroffEN
Our Facebook page https://www.facebook.com/pwrvote/
Twitter feed https://twitter.com/pwrvote