As the next unlock of Cartesi Tokens (CTSI) is set for July 23rd, 2021, we’re pleased to provide another official transparency report on the Cartesi Foundation’s governance, operations and how CTSI tokens are allocated in succession to our previous transparency reports.
As a reminder and for transparency’s sake, anyone can view the current holdings and transactions of the Cartesi Foundation wallet here:
The information provided below is dynamic in nature therefore, information presented may not reflect accurate estimations at time of reading.
Total Supply: 1,000,000,000 CTSI
Current Circulating Supply (July 8, 2021): 379,750,318 CTSI
Current Undiluted Valuation (July 8, 2021): $161,626,950
Total Diluted Valuation (July 8, 2021): $425,578,534
Current CTSI Price (July 8, 2021): $0.4256
The Current CTSI Allocation
Prior to this unlock, 20.83% of the total supply has already been unlocked and held by the Cartesi team. The foundation reserve tokens have gone to a variety of important endeavours as previously outlined, all of which are summarized below:
- Held in Wallets: 20,380,496.85 CTSI
- Exchange Listings: 2,172,885.83 CTSI
- Community Operations: 1,556,901.10 CTSI
- Legal, Business Operations, and R&D: 67,892,986.37 CTSI
- Partnerships: 50,000,000.00 CTSI
- Marketing: 12,762,477.20 CTSI
- Market Making: 63,721,121.38 CTSI
- Staking: 9,800,001.00 CTSI
Total: 208,305,000 (20.83%) CTSI
The upcoming Cartesi Foundation unlock will occur in the amount of 21,538,333 CTSI (2.15%) of the total supply on July 23rd, 2021.
In addition, as a result of our IEO on Binance Launchpad, the Cartesi Foundation received half of its security deposit back in the amount of 16,666,666.5 CTSI, with the other half to be returned in the following year.
Where does the funding go?
- Continued research and development of Cartesi’s technology
- Marketing and community-based objectives
- Legal expenses
- Development grants
Internal governance consensus is reached by the Cartesi Foundation before devoting or expending CTSI to any event. The foundation reserve unlocks are vital for the development of Cartesi’s tech, bootstrapping its ecosystem, and for the operations of the foundation itself.
No entity or token holder is more interested in the health of CTSI’s economy than the Foundation itself for its entire existence and longevity. The Foundation liquidates only the amounts deemed necessary, remaining careful not to disturb the secondary markets of CTSI.
In total, 40.22% of the total CTSI supply is reserved for the Cartesi foundation and will be fully unlocked by July 23rd, 2023.
As a reminder, the following chart represents the number and breakdown of all CTSI tokens that are to be released into circulation on a monthly basis. Token inflation and possible deflation for staking rewards will be revealed in the future, which is yet to be finalized, and not presented in the following chart, however we have released the CTSI Macroeconomy article for further reading in the meantime.
CTSI will have no inflation until the mine reserve is completely depleted, which will happen no earlier than 2023.
The current state of the CTSI distribution curve:
Binance Launchpad Sale tokens comprise 10.00% of the total token supply.
- This has been 100% allocated.
Seed Sale tokens comprise 2.00% of the total token supply.
- 0.29% of the 2.00% has already been allocated through one previous unlock.
- The next unlock will occur on July 23, 2021 in the amount of 2,857,143 CTSI.
- Unlocks will occur on a quarterly basis thereafter and be fully unlocked on October 23, 2022
Private Sale tokens comprise 5.00% of the total token supply.
- 0.56% of the 5.00% has already been allocated through one previous unlock.
- The next unlock will occur on July 23, 2021 in the amount of 5,555,554 CTSI.
- Unlocks will occur on a quarter basis thereafter and be fully unlocked on April 23, 2023.
Strategic Sale tokens comprise 0.67% of the total token supply.
- This has been 100% allocated.
Team tokens comprise 15.00% of the total token supply.
- 2.14% of the 15.00% has already been allocated through one previous unlock.
- The next unlock will occur on October 23, 2021 in the amount of 21,428,571 CTSI.
- Unlocks occur twice a year and be fully unlocked on April 23, 2024
Advisors tokens comprise 2.11% of the total token supply.
- 0.33% of the 2.11% has already been allocated through one previous unlock.
- The next unlock will occur on October 23, 2021 in the amount of 7,050,000 CTSI
- The final unlock will occur on April 23, 2022
Foundation Reserve tokens comprise 40.22% of the total token supply.
Mining Reserve tokens comprise 25.00% of the total token supply.
We’ve recently announced all of our Q2 milestones and are rolling out Cartesi Texas HODL’em, Cartesi Rollups, and Noether’s PoS Delegation System. For the rest of the year, we’ll be focused on our roadmap for 2021, bringing Cartesi Rollups to mainnet.
About the Cartesi Foundation
The Cartesi foundation is the coalition of the co-founders, partners and influential members to deliver exceptional technical impact on bridging mainstream software with blockchain. Composed of leading scientific minds, thinkers, leaders and veterans, we remain at the forefront of a blockchain interconnectivity revolution with the plethora of millions of mainstream open-source software via Linux. The Cartesi Foundation is an entity that is committed to taking smart contracts on Ethereum to the next level, bringing mainstream scalability and convenience to developers and users of decentralized applications. Decentralization is the core goal of what we are building at Cartesi and it is put at the forefront of each decision we make in achieving our vision.
The Cartesi Foundation actively makes decisions required to put our technology at the forefront of blockchain adoption. The foundation is committed to achieving this vision and the continued development of its roadmap. If you’re interested in proposing changes or contributing more, please check out our recently launched Cartesi Governance: Cartesi Improvement Proposals (CIP).
Cartesi is a multi-chain layer-2 infrastructure that allows any software developer to create smart contracts with mainstream software tools and languages they are used to while achieving massive scalability and low costs. Cartesi combines a groundbreaking virtual machine, optimistic rollups and side-chains to revolutionize the way developers create blockchain applications.