Genius X, accelerator and launchpad for fully vetted, early-stage blockchain startups, is happy to announce the launch of the public sale of $CGV tokens by Cogito Protocol on the Genius X Launchpad. The public sale is going to be launched on May 29th, will last 24 hours, and end on May 30th.
Cogito Protocol presents a unique “stablecoin-as-a-service” framework that allows for the creation of digital assets known as “tracercoins” with low volatility. Unlike other stablecoins that are explicitly pegged to specific fiat currencies or commodities, tracercoins maintain their stability through soft-pegging to non-financial indices that represent progress in various developmental areas such as environmental or technological progress. This innovative approach ensures that the tracercoins remain stable and offer a reliable store of value while also promoting positive growth in important areas of development.
Cogito Protocol leverages artificial intelligence / machine learning (AI/ML) technologies powered by SingularityNET, one of the most reputable blockchain artificial general intelligence (AGI) projects.
Genius X Accelerator and Launchpad is a leading decentralized platform that helps innovative blockchain projects to get off the ground. The platform provides support and guidance to promising projects in the blockchain space, helping them to raise funds, build communities, and establish a strong presence in the market.
$CGV Token Utilities
- Index management — adjusting components and weights of indices
- Treasury management — regulating the allocation of assets to different investment portfolios
- Changing the minting and redemption policy for tracercoins
- Voting on launching new tracercoins
- Impacting $CGV’s buyback-and-burn mechanisms
$CGV Token Public Sale Details
The $CGV token will be available for purchase on the Genius X Launchpad from May 29th. The Public Sale will last 24 hours and will end on May 30th. The price in ADA, as well as token allocation, will be announced before the start of the public sale. There will be an initial unlock of 15% at the $CGV Token Generation Event (TGE), followed by a 3 months cliff, then monthly linear unlock over 18 months.
The KYC process is open! Head over to the Genius X Launchpad, connect your wallet and follow the steps!
Due to the fact that the Genius X Launchpad does not support vesting, the sale will be done in a way where investors will receive via airdrop another fungible token — $GXL — immediately after the end of the public sale, as proof of participation of the Cogito Protocol IDO. Then the $CGV tokens will be unlocked and available to investors according to their participation records, and as per the vesting schedule of the $CGV token.
$GXL tokens will remain in investors’ wallets as a collectible item. The $GXL token won’t have any utility, ownership of $GXL at any time after the IDO ends does not represent a right to receive $CGV or any other tokens. Transferring $GXL tokens to another wallet won’t influence the $CGV token distribution process. The mechanism of distribution will be announced before the sale date and the process will be tied to the wallet that purchased $GXL in Cogito Protocol’s IDO.
Due to legal reasons, investors from the following countries, unfortunately, cannot participate in the $CGV Public Sale. With advice from our legal team and partners, we decided not to include the following countries because of regulatory reasons:
Albania, Barbados, Burkina Faso, Cambodia, Republic Korea North, Gibraltar, Haiti, Iran, Jamaica, Jordan, Mali, Morocco, Myanmar, Nicaragua, Pakistan, Panama, Philippines, Senegal, Sudan, Syria, Uganda, Yemen, Russia, Belarus, Afghanistan, Algeria, Angola, Azerbaijan, Bahrain, Bangladesh, Benin, Bolivia, Botswana, Bosnia, Cayman islands, Turkey, United Arab Emirates, Anguilla, Antigua Barbuda, Aruba, Belize, Bahamas, Bermuda, British Virgin Islands, and the USA.
About Genius X
Genius X is a business accelerator and launchpad for fully-vetted, early-stage blockchain startups. Our mission is to create a more decentralized and inclusive future built by the brightest minds utilizing blockchain technology. The Genius X program helps ambitious founders turn their visions from startups into impactful and scalable solutions that add value by leveraging blockchain technology. We accelerate the most promising startups by providing advisory support in areas such as marketing, business strategy, token design, and fundraising, giving them the edge to become successful.
The Genius X Launchpad is the most advanced smart contract-based Launchpad on Cardano and provides a seamless way for investors to safely participate in early-stage project funding, and achieve a maximum potential return for their involvement. The Genius X Launchpad’s operations for token sales are handled by a smart contract, allowing for oversubscription on sales with any unused ADA being automatically refunded to each user’s wallet.
The Genius X Advisory Program onboards professionals who provide consulting services to Genius X Projects founders and teams under the Genius X Accelerator program.
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