Tokens
CUDOS are the native, utility token powering the CUDOS Network.
Validators and Delegators stake CUDOS onto the network to secure it and earn staking rewards.
The L1 - Consensus - Proof-of-Stake CUDOS Network uses CUDOS tokens to govern and secure the network, incentivise participants and provide a mechanism to store and exchange value.
The L2 - Application - Cudo Compute platform (Q1 2023) will use CUDOS tokens to power the buying and selling of compute capacity on the network.
CUDOS is also bridged to Ethereum via CUDOS Bridge, the ERC20 token contract address is: 0x817bbdbc3e8a1204f3691d14bb44992841e3db35
Supply
The CUDOS token is a capped supply token. The total cap is fixed at 10 billion whilst the current circulating supply is approximately 2.8 billion. However, the circulating supply is not necessarily liquid as a large percentage of tokens are locked into staking contracts or set aside for rewards.
Our aim is to lock 75% of circulating supply into staking.
Locked Circulating Supply
Amount in CUDOS
1st year staking rewards: 306,000,000
1st year staking bonuses: ~150,000,000
1st year estimated total staked: ~1,875,000,000
TOTAL: ~2,331,000,000
Liquid circulating supply: ~169,000,000
Token release
CUDOS tokens have a 10 year release plan until 100% of the total 10 billion have been fully vested and are in circulation.
25% released by January 2022
25% released by January 2023
25% released by January 2025
25% released by January 2031
Token distribution
Ecosystem & Community Development tokens are used to incentivise network and community growth. This pot includes prizes, airdrops, bounties, staking rewards & bonuses, developer programs, partnerships and grants.
Reserve tokens are for administration, operations, marketing and R&D
Private sale participants and advisors receive a percentage of their allocation each day via a vesting smart contract.
Strategic investors from previous rounds with allocations have their tokens locked for 6 months, with 18 months daily vesting thereafter. It’s important to note that whilst these tokens vest each day, these individuals may decide to only move their vested tokens once per week or once per month into either staking, a private wallet or onto an exchange. That can appear as a jump in tokens entering circulating supply.
Team tokens are locked for 6 months and then begin to vest quarterly over 3 years. The release of these tokens is dependent on the team reaching important development milestones, ensuring that the full vision of CUDOS is achieved.
Token utility
The CUDOS token is used to pay transaction fees, stake and delegate in the CUDOS network.
CUDOS Network
Key token functions are:
Earning the right to validate and secure the CUDOS network requires a stake of 2,000,000 CUDOS.
Rewards are allocated as CUDOS in return for securing the network.
Delegators support Validators to secure the network and receive a proportion of rewards.
Wider ecosystem
Key token functions are:
Using CUDOS to perform transactions.
Using CUDOS to perform cross-chain transactions across the Cosmos ecosystem.