Dear C4G3 Community, we apologize for the long silence and waiting period. We can understand how you feel. We don’t intend to stay quiet for this long but we encountered some unforeseen circumstances that are beyond our control..
The reason for our long silence was as a result of our Index source code being compromised, we had to abandon the initial plan as a result of the compromise. However, the good news is that we have been able to get an alternative that will make the deployment of our long awaited CMI faster.
The CMI will now be hosted on Tokenset protocol. This ensures us safe and trusted way to deploy CMI and other Indices that will exist in the Cage ecosystem.
In order to be able to move forward with this new plan, so as not to make things complicated, we have decided to deploy a new governance token for CAGE ECOSYSTEM. This new development doesn’t affect CAG3 in any way and C4G3 continues to play an important role in the CAGE ecosystem. The new ecosystem now revolves around three products:
1. C4G3: Cage Meme Token.
2. CMI: Cage Meme Index.
3. CGT: Cage Governance Token.
In order for the project to secure enough funding for marketing and development, we will be launching the new governance token for Cage ecosystem known as CGT. CGT will have a limited supply of one hundred thousand (100k) with most of the circulating supply in the hands of the community. CGT is going to be included in a new Index pool consisting of Non-Meme tokens except C4G3 tokens.
The fundraising with CGT will be done in 2 phases:
i. Phase I (Private Sale ).
ii. Phase II (Fair Launch Auction or FLA).
A full tokenomics of CGT will be made available prior to the FLA.
WHAT IS & WHY FLA
FLA simply means Fairly Launch Auction. It is a token launch mechanism by https://copperlaunch.com/. An FLA is a simple crowdfunding mechanism that enables projects and ideas from across the world to raise money from individuals without barriers to entry.
FLA ensures that tokens are distributed fairly to every investors and also helps discover a fair price for CGT.
As of now, we can’t communicate a specific time frame, but we assure you that we will go live before the end of this year. Announcement will be made prior to the launch date.
WHAT TO EXPECT AFTER THE LAUNCH
We understand that you are all eager to know what we will be launching alongside CMI and CGT tokens. We are pleased to inform you that the following are to be expected during the launch:
- New website
- Index Dashboard
- New Bridge UI.
- New whitepaper.
We sincerely appreciate your support and patience.