Billions of gamers worldwide will soon be able to earn rewards while playing, thanks to Citrus – a new platform that aims to integrate blockchain-based technology in the gaming industry.
What Is Citrus?
Citrus is a new gaming token built on the Binance Smart Chain (BSC) that plans to enable Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) to all games.
The token is mined to fund blockchain gaming as well as Multiplayer Online Battle Arena (MOBA) games. Aside from earning rewards for playing games, validators will be able to earn rewards for staking Citrus tokens.
Moreover, Citrus does not see itself as just a source of investment but a cryptocurrency that can be used for day-to-day transactions in the gaming industry.
Aside from gaming visions, the company also plans to become a secure platform with a global reach by providing other solutions like launching its own blockchain and DeFi ecosystem.
The project plans to launch a decentralized exchange (DEXI), social media app, and non-fungible token (NFT).
Meanwhile, to ensure that its platform is secure for users, Citrus conducts comprehensive analysis and regular audits of its code to identify anomalies and eliminate the risks of security breaches.
Citrus has a total supply of 383 million tokens, the team has already burnt 3 million tokens which were not included in the distribution.
14% (53.2 million tokens) will be distributed in phases during the private sale, and another 53.2 million tokens will be distributed during the upcoming IDOs. The private sale price is currently set at $0.5.
The project will lock 163.4 million tokens for five years, after which 10 million of the tokens will be released every quarter. These gradually unlocked tokens would be utilized to strengthen global enterprises and blockchain start-ups, promote blockchain gaming, and create banking and governance tokens.
17 million tokens would be used for airdrops and bounty programs to incentivize holders. This also includes a 10% bonus that will be awarded to investors according to their holdings during the Private Sale period.
Lastly, the project will reserve 11.5% of the available tokens for innovative projects, 3% for marketing and promoting Citrus, and 5% for expanding the Citrus team.
The Citrus Ongoing Private Sale and IDO
Citrus commenced its private sale on July 11 and will last for three weeks. During the private sale period, the project will give a 10% bonus to investors who purchase the Citrus token in the first week, a 7% bonus for those who buy in the second week, and 5% in the third week.
To protect investors from giant whales and humpbacks from manipulating the token and causing price volatility, Citrus has an Affix system that ensures that each investor holds a limited amount of Citrus tokens on a single wallet until the conclusion of a private sale.
After the private sale, the project will conduct an Initial Decentralized Offering (IDO) in two phases. Details to be announced.
Funds raised by distribution of the tokens will be reinvested into the project to build DApps, Global Brands, CitrusEX, and Utilities.
In addition, Citrus plans to engage in philanthropic movements. The project will distribute 5% of the liquidity acquired in private sales and IDOs to non-profits and Covid relief programs.
Wrapping it up
In general, Citrus seems to have the right ideas and is venturing into a space that’s booming with interest. Both industries – blockchain and gaming, are ripe for innovation, and they seem to go perfectly well hand-in-hand.