Cadalabs protocols are pleased to announce the completion of their 1 million U.S. dollar private sale round.
Their mainstream solution facilitates the integration of non-fungible tokens and NFT marketplaces into any application.
What is CADALABS Protocol?
CADALABS Protocol is the first community-driven NFT platform building an NFT Minting dApp on the Cardano Network to enable digital artwork collectors to mint their works as NFTs and connect them to sellers to trade seamlessly in the future.
CADALABS team developed its utility token dubbed $CALA Token, which enables the community to take part in governance issues. Besides, by holding the CALA token, users can moderate creators, vote on proposals, stake their tokens to earn and curate featured artwork.
Purpose of the $CALA token
$CALA token will be used for the following:
- Transact on the NFT Platform.
- Maintaining governance: decisions to integrate new protocols, edit pool parameters, edit risk parameters, etc.
- Yield farming through the staking platform.
- Payment for profile verification: since the platform is decentralized, How does one mitigate that? a verification manual was added in which the due diligence is done on the user before applying the blue tick.
- Stake CALA token to rank higher on the smart, AI sorting engine
- Buy advertisement slots on the NFT Platform
CALA token distribution
CALA token is already minted on the Cardano and has a total token supply of 100 Million CALA tokens which will be distributed below;
Private Sale: 10 Million CALA Tokens will be sold to venture capitalists and long-term investors.
Pre Sale: 25 Million CALA Tokens will be sold at 0.05 ADA per CALA token to early investors.
Public Sale: 50 Million CALA Tokens will be sold at 0.5 ADA per CALA token on major exchanges.
Yield Farming & ecosystem funds: 15 Million CALA Tokens will be reserved for staking, yield farming, and ecosystem development.
The $CALA Token metrics are structured to capture network participants who share our vision for the long-term success of the project.
Deflationary burn function
CADALAB will burn 50% of the ecosystem’s tokens and mining rewards over the next 2 years.
In order to participate in the Cadalabs token’s pre-sale, follow the link.
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