CinemaDraft, Gaming Platform on Binance Smart Chain, to Batch Auction Its CD3D Tokens in Fair Launch

| Updated
by Andrey Sergeenkov · 4 min read
CinemaDraft, Gaming Platform on Binance Smart Chain, to Batch Auction Its CD3D Tokens in Fair Launch
Photo: Unsplash

CinemaDraft states that proceeds from crowdfunding will be used to develop a decentralized launchpad for other gaming tokens.

CinemaDraft, a Binance Smart Chain-based gaming platform is planning to disrupt the $20 billion Daily Fantasy Sports (DFS) industry, has set its initial CD3D offering for October 7, 2021.

Batch Auctioning of CD3D Tokens

As per a press release on September 18, the CinemaDraft developers announced the auction will take place on the platform’s token site In adopting the Batch Auction style, an optimized crypto version of a classic Dutch Auction, their token project forgoes presales, with the fair launch to last only 24 hours.

Using their Batch Auction at that time, the CinemaDraft team will begin receiving bids for the 20 million CD3D tokens set aside for the crowdfunding. All orders will be filled at the end of the sale, starting from the highest to the lowest bid.

CinemaDraft states that proceeds from crowdfunding will be used to develop a decentralized launchpad for other gaming tokens. Also, the team plans to complete the development of DraftStream, a daily fantasy movie game. Use of funds includes marketing activities as well, running free-to-play prize pools using cash and CD3D prizes.

A Fair Launch

The decision not to set the price of each token and instead allow for market discovery is nifty, deploying an auction-style that continues to find widespread adoption. By batching and aggregating orders, this auction mechanism benefits from aggregated liquidity.

However, most importantly in the age of automation and front-running that prices out willing retail investors, Batch Auctioning allows for fair price discovery, effectively preventing Miner Extractable Value (MEV) common in proof-of-work systems where miners can reorder transactions by gas fee, squeezing out benefits at the expense of ordinary investors.

CD3D Tokens Priced in BUSD and Incorporates DeFi Features

The CD3D token is central to CinemaDraft’s operations. In the Binance Smart Chain (BSC), where validators are tasked with transaction validation, the token will power the in-game token economy once the dApp launches. Notably, the CD3D token is priced in BUSD – the BSC-based stablecoin and one of the most liquid after USDT and USDC.

Gamers can earn CD3D tokens also by playing various free games for tokens (freerolls) on the dApp or participating in their single-level referral program. CinemaDraft plans to tap into the popular NFT wave as part of CD3D distribution. Their whitepaper states that holders of Star Cards – which are celebrity NFT collectibles – would earn more CD3D tokens based on their in-game performance.

Additionally, CinemaDraft will introduce the Community Jackpot Fund, dynamically rewarding up to 10 percent of the circulating supply every quarter to consistently active players. In the future, the project developers plan to add play-to-earn programs incentivizing players to freely own Star Cards NFTs in exchange for a share of the collectibles’ revenue.

The token has baked-in DeFi features also included by the team as an incentive for users. CinemaDraft says each CD3D token consists of a 10 percent transaction fee, including buyback and burn, burn, and dividends. Besides scarcity enhancing features, the token is amplified with a monthly liquidity release schedule, staking rewards for long-term holders, and an anti-whale protocol that caps maximum transaction transfers to 0.15 percent of the total supply after the crowd sale. The CinemaDraft team intends to impose a five percent fee for tokens sold via exchanges. Fees earned in exit trades will be distributed to all CD3D holders as dividends.

CD3D Is Not a Security

Even so, the CinemaDraft team maintains that the CD3D token is not an investment contract. Once the audited smart contract behind the protocol is activated on the decentralized BSC platform, the team will release control to the community whose token holders are distributed across the globe. At the same time, the Nevada-incorporated company has clarified that they do not guarantee rewards and profits, explaining that CD3D exists for entertainment purposes only, not investment.

Guest Posts
Julia Sakovich
Author: Andrey Sergeenkov

Founder and editor at BTC PEERS. Andrey writes about financial experiments, DeFi, cryptocurrency, and blockchain.

Related Articles