Place/Date: UK, Manchester city, London - October 18th, 2021 at 2:21 pm UTC · 3 min read
Contact: Cadalabs, Source: Cadalabs Protocol
Cadalabs is a relatively new project built on Cardano Ecosystem with a focus on Exchange and Transfer of NFTs, Cryptocollectibles and other digital contents. Cadalabs concluded its private token sale to well-known crypto Investors and institutions including DuckDao, MoonWhale and top venture capitalists.
CADALABS Protocol raised a total of 1 million dollars from the private token sale in less than 1 hour. Proceeds from the private sale will be used to support Cadalabs Ecosystem and unused funds will be locked in a cold storage on cardano network.
CADALABS Protocol is the first community-driven NFT platform building a NFT Minting Dapp on the Cardano Network to enable digital artwork collectors 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.
$CALA token will be used for the following:
*Transact on Our NFT Platform.
*Maintaining Governance: decisions to integrate new protocols, edit pool parameters, edit risk parameters, etc
*Yield Farming through our Staking Platform.
*Payment For Profile Verification: Since Our Platform is decentralized, How do we mitigate that? we added a manual verification in which we do our due diligence on the User before applying the blue tick.
*Stake CALA token to rank higher on our Smart, AI Sorting Engine
*Buy Advertisement Slots On Our NFT Platform
CALA token is already minted on the cardano and has a total token supply of 100 Million CALA token 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.
CADALAB will burn 50% of the Ecosystem Tokens and Mining Rewards over the next 2 years.
In order to participate in the Cadalabs Token’s Pre-sale, follow the link.