HomeNEWSCitizend, Acala collaborate to install token platform on Karura

Citizend, Acala collaborate to install token platform on Karura


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A Polkadot native token platform identified as Citizend recently revealed its decision to partner with Karura and Acala ecosystem. Accordingly, the Citizend project becomes launched on Karura EVM+, Acala’s custom-developed EVM environment.

The collaborative effort intends to combine Ethereum+ Substrate, operating as administrator and facilitator for projects and communities across Kusama and Polkadot ecosystems. However, Citizend strives to emerge as the primary facilitator for all projects materializing in the Polkadot ecosystem. This becomes manifestable through a community-driven and clear listing framework.

According to a Friday blog post by Acala, the wait-list to enroll in Citizend and Acala is now available. As required, the prospects and improvement obtainable in Polkadot and kasama(Dotsama) have been identified by Citizend. As thing a stands, both Polkadot and Kusama worth over $40billion in market valuation while envisaging more expansion.

In addition, creative and realistic projects continue to as progress on Dotsama. This projects carry their communities along while captivating developers to the ecosystem.
Additionally, a robust foundation sufficient multi-chain ecosystem manifested via Dotsama’s Defi protocols. It also features cross-chain smart contracts, blockchain brides, and NFT applications. Furthermore, the goal of Citizend remains geared towards the expansion of polkadot and broader blockchain ecosystem.

It becomes feasible through the offering of a launchpad for developers. Such features also foster immediate access to investors and supporters. Accordingly, members of the founding collaborators include investors ranging from RMRK, Outlier Ventures, Fractal, Unique and Subvisual, and Acala.

The architecture of Citizend

Accordingly, the architecture of the Citizend manifested in a way to foster natural growth within the Polkadot ecosystem. This becomes possible through the initiation of proportional opportunities for community members to fund projects on the platform. In order to achieve this goal, Citizends intend to incorporate a USD for its outlet services.

This thus enables subscribers to fund projects with the native, decentralized stable coin of Polkadot and Kusama. More so, Citizend plans to obtain 5% of a project native token distributed on the platform. The new trend grossly replaces the acquisition of direct fees from the project launching of Citizend.

More so, new native token tends to become merged with a USD to generate a pool. With this, a deeply liquid CNTD-aUSD pair function as an exchange route for communities to trade stable coins and native tokens freely.

Lastly, Citizend plans to work on three essential cores of the platform. The three cores entail Openness, Transparency, and community. Accordingly, holders of certain numbers of CTND tokens become eligible to schedule, vote, and contribute to the project.

It also analyzes all significant aspects of projects, leaving no information hidden. Subscribers holding a certain number of CNTD become automatically granted membership of Citizend DAO.

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David Idowu
David Idowu
David Idowu is a crypto reporter and trader with wealthy years of experience. He believes that blockchain technology has numerous opportunities that are begging for proper utilization. Away from work, David is either reading about World Politics, History or Tech Innovations.

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