The introduction of POWER on a DEX has begun. This Initial DEX Offering (IDO) process will lead to the listing the $POWER on the PancakeSwap platform by the end of the year.
ICO & post-ICO
At the end of its ICO, $POWER gathered +2,400 participants who invested +3,500,000 USDT, making the Civicpower community the first in terms of number of holders on an online democracy project.
In detail, the supply of 50.000.000 POWER is divided as follows
- 2.000.000 POWER dedicated to marketing
- 48.000.000 POWER put on sale
a) 23.362.033 allocated to investors
i)18,657,420 acquired
ii)4,704,613 used to compensate initial investors in ETH and not in USDT (due to the significant change in ETH)
b) 24,637,967 transferred to Civicpower’s reserve at the end of the ICO
The Civicpower team held a vote among the POWER community on September 6th 2021 and proposed a 100% vesting of the tokens allocated to investors until the first burn in Q1/2022. As well as the tokens in the association’s reserve, with the exception of those allowed to be used for IDO. This proposal obtained 99.7% support of the tokens. Following the reimbursement by the community of the 50 investors not adhering to this contract, 100% of the POWER tokens are now integrated into the “Shadow LIquidity Pool” created for this purpose.
This liquidity pool has been set up in order to allow the community to have their assets available in the widest possible framework:
- the possibility of selling or buying POWER from this pool over the counter through a Shadow EXchange called OTCivic
- the possibility of placing its vested POWER on a personal term investment account called “Citizen Reserve” and of signing remunerated staking contracts over 6, 12, 24 or 36 months.
This pool of liquidity can be increased with POWER acquired on the public market at the end of the IDO.
How does it work for the private part?
We have set up a level 2 token management ledger on the Binance Smartchain called POWER Layer 2 aka “PL2” which allows the transparent management of “vested” POWER movements.
In detail:
- the foundation’s pool has an identified public BSC address, so do the marketing tokens and those that feed into the sponsorship program,
- each member of the community has three public custodial addresses on the BSC:
-inputs to PL2,
-the exits from PL2,
-the citizen reserve, - PL2 has its own BSC public entry and exit address,
- the public liquidity pool that we will call here “LP” has its own address and smartcontract.
Within PL2 each user has accounts:
- current account,
- OTCivic account that allows him to feed the POWER he wants to sell or those he has just acquired through the escrow system,
- account of remuneration of sponsorships,
- the citizen reserve (CR) account,
- account for the remuneration of the interests of the contracts of the citizen reserve,
- account for tokens offered to the burn,
- presale compensation tokens account (if he owns any),
- account for each staking made.
The movements within the PL2 will be verifiable on a scan address whose url will be specified at the opening. No POWER can be created in PL2. At any time, the sum of the POWER of PL2 is equal to the amount contained on its public address BSC “in”. In addition, the movements within PL2 preserve the characteristics of the POWER.
A $POWER token from a referral payout remains a referral payout $POWER token when exchanged and will therefore retain the same lock properties. The same is true for the compensatory $POWER tokens received during the presale.
To sum it up :
How does it work for the public part?
A limited pool of tokens will be drawn from the Civicpower association’s reserve to feed the public price. The revenue from the sale of these tokens is used in part to pay the interests on the blocked tokens, with the remainder joining the association’s stablecoin reserve in order to finance its future projects.
The objective of both the association and the community is definitely the same: to have a strong POWER and with a steady progression in value.
The promotion of the IDO will be ensured by the team through several plans that are currently under negotiation.
Glossary
“Annual Percentage Rate” (APR): the annual return. In our system it is paid at the end of the period, it will be settled in POWER in the first instance. We are working on implementing stablecoin. We are not compounding interests at the moment, but we are planning to launch this offer in the future.
“Binance Smartchain” (BSC): Binance’s public blockchain which is used by Civicpower to host the POWER through the public liquidity pool (allowing to have a market price) and the PL2 (allowing the community to make their private deals and invest their POWER).
“Citizenship reserve” (CR) or “Réserve citoyenne” (RC): this is the POWER account that allows you to validate vesting contracts of your POWER in order to be remunerated.
“Custodial”: crypto-currency address that we manage for you and for which you do not have the private key. In our system you have one or more addresses of this type which are dedicated to you according to the operations which you carry out.
“DEX” (Decentralized EXchange): it is a decentralized exchange allowing a very flexible token listing,
“Fees”: fees which are of two types in the case of POWER. On the one hand the network fees of the BSC blockchain (which are very low compared to those of Ethereum) and on the other hand those of the OTCivic private server.
“Initial Dex Offering” (IDO): launching a token on the public market via a decentralized exchange platform like PancakeSwap.
“Liquidity Pool” (LP): it is the liquidity brought to a pair of crypto-assets. It allows to be present on the decentralized market (DEX) through a smartcontract.
“OTCivic” (Over the Counter “OTC”): private marketplace of POWER tokens. It is also called Shadow EXchange,
“POWER layer 2” (PL2): this is the system developed by inBlocks for the POWER community, allowing to carry out numerous secure operations at a lower cost while respecting privacy.
“Shadow LIquidity Pool” (SLiP): this is the agreement that brings together the entire community to lock in the tokens acquired during the presale/ICO until the 1st burn Q1/2022. This can be called “vesting”.
“Staking”: the fact of blocking tokens for a fee. We can also talk about “vesting”.
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 http://t.me/powersoff
Our Facebook page https://www.facebook.com/pwr.vote/
Twitter feed https://twitter.com/pwrvote
Git https://github.com/pwrvote
