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Wednesday, October 20, 2021

What is Citizen Finance (CIFI)?

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What is Citizen Finance?

Citizen Finance is an introduction to GameFi and true ownership of in-game assets. While acting as a bridge between the world of traditional gaming and blockchain, Citizen Finance will create a platform where players are the true owners of their in-game assets, they can stake it, resell it, gift it or simply use it as collateral.

Right to property is often classified as human right which gives every citizen the right to own property purchased using their own fund. Property can include real estate, autos and in our case virtual properties like in-game assets. The main property rights are;

  • Right of Control
  • Right of Possession
  • Right of Exclusion
  • Right to Derived Income
  • Right of Disposition

Till date, one of the most prominent problem in the traditional video gaming industry is denial of property right when it comes to in-game assets. Players are not the true owners of their in-game assets even if they had purchased it with in-game currency which in turn was purchased with fiat currency. What they can do with the asset is limited to the utilities of the game. The player lacks true control of their assets, can not derived income from it and also can not dispose it.

Blockchain technology has enabled some games introduced true ownership of in-game assets but the utilities for this new concept is still small and has no real impact in the industry. Citizen Finance will be introducing new concepts and utilities for in-game assets using blockchain technology

Non-Fungible Token

Non-Fungible Tokens are tokenized versions of a non-fungible asset like artwork, real estate, collectibles (in-game assets in our case). These assets possess properties and individual characteristics that make them unique and valuable. Non-fungible tokens can be used to create verifiable digital scarcity, as well as digital ownership.

NFTs are not a new concept and the first NFT-like token was the introduction of Bitcoin 2.x (aka colored coins) in 2012. While not being a new concept, the launch of Cryptokitties – a blockchain-driven platform where players have the chance to collect and breed digital cats, brought the attention of the world to this unique technology and thus began the NFT race. Cryptopunk was launched in 2017, the first project that aim to tokenize artwork using NFTs.

Why are NFTs Special?

The specialty of non-fungible tokens revolves round three (3) concept namely; Unique, Rare & Indivisible.

Unique: One major feature that makes NFTs special is the fact of it being unique. Unlike fungible token, each nft has its own unique properties (metadata) that are peculiar to one token. It’s impossible for 2 NFTs in same platform to have same properties.

Rarity: NFTs are rare collectibles with limited supply. The scarcity mechanism is one thing that makes owning a non-fungible token special.

Indivisibility: Unlike fungible token, a non-fungible token can not be divided into smaller units. Bitcoin and other fungible assets can be split into smaller unit but non-fungible token needs to be bought, sold and held as a single unit.

The use case of NFTs varies depending on the business model of the platform. While for the most part, it has been used to represent arts and in-game assets but its use case are not limited to arts and gaming alone. NFTs can be used to represent company shares, bonds, real estates, membership and many others. Terra Virtua has been able to successfully implement NFTs on arts, Cryptokitties and GodsUnchained brought NFTs to in-game assets while Decentraland, The Sandbox and Spheroid Universe are giving NFTs a unique use case in the digital real estate industry.

Citizen Finance introduction of NFTs for in-game assets is mainly to promote true ownership of in-game assets and enable players to legally exchange assets between one and anothers.

TOKEN Introduction

CIFI is the native token of Citizen Finance platform, the token is minted through NFT staking and Liquidity mining. Users can utilize CIFI token to purchase nfts from the secondary marketplace, use as fees to launch own skin proposal, deployment fee for Cifipowa , stake CIFI to earn liquidity reward and also use for lending protocol.

Specification

Distribution

  • Mining (60.7%): 303,333
  • Sales IDO (20): 100,000
  • Liquidity (8.33%): 41,667
  • Team (10%): 50,000
  • Bounty (1%): 5,000

Liquidity will be locked for 6 months

Team token will be distributed in stages. 10% will be distributed in the beginning while 90% will be locked for 12 months. After lockup period, 5% of Team token will be released monthly.

Initial DEX Offering

  • Pre-sale Token = 100,000
  • Presale Price (CIFI/BNB) = 111.111
  • Listing Price (CIFI/BNB) = 133.333
  • Raised Amount = 900 BNB
  • Liquidity = 450 BNB (Locked for 6 months)
  • Initial Circulating Supply = 110,000 CIFI
  • Initial Marketcap (in BNB) = 825 BNB

Referral System

Citizens with the highest invites will be rewarded with a different class of in-game assets.

  • Top Inviter – Class 6 NFT
  • Top 2-10 – Class 5 NFT
  • Top 1-20 – Class 4
  • Top 21-30 Class 3
  • Top 31 – 50 Class 2
  • Others Class 1

Use of NFT (in-game assets)

Citizen Finance NFT has multiple use case on the platform. holders of Citizen Finance NFT can:

  • Use it to play Meta City FPS Game
  • Stake it
  • Resell it on secondary marketplace
  • Use it as collateral
  • and many more

How to Get Refferal Link?

Referral system makes use of discord invite system. Citizens will be able to get their own unique discord server link from the server.

Login to Discord and select Citizen Finance Server. Select Invite to get your referral link

Edit Invite link

Expiration time should be set to NEVER, While Max Number of Uses should be set to No Limit. Generate new link and start inviting…Goodluck

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