The CGS Token is an ERC20 standard token, which is used by the CGS Arbiters to vote on ongoing disputes between ICO launchers and Token Holders. Anyone that holds CGS can act as an arbiter.
To vote, a CGS Arbiter needs to put CGS on stake. They are incentivized with CGS to vote correctly. This means that those who’ve voted correctly will be rewarded with more tokens and those who didn’t will be penalized with the loss of some CGS that go to those who voted correctly.
To deploy CGS, ICOs need to deposit an amount of CGS tokens into the CGS pool.
The CGS tokens in this pool will be used as an incentive for the sustainability of the platform. On one hand, it increases the incentive for the CGS Arbiters that win each voting process. On the other hand, it will be used as an incentive for developers and other people working on the Coin Governance System. This incentive will be dispensed on a pool request basis.
The supply of CGS is fixed and no mining or any kind of token creation will be possible after the initial contract setup.
A total maximum of up to 100 million CGS tokens will be created, of which 70 million will be addressed to the Token Sale.
Company and Team’s tokens will be subject to a ‘cliff vesting’. In a cliff vesting individuals receive part of their tokens at a specified date, while the rest vest gradually over a subsequent period of time.
The funds collected in the ICO will be sufficient to finance the development, launch and commercialisation of the Coin Governance System project for the next five years.
From 2023 CGS will be financed from the token reserve, and as a decentralised project, its user community is also expected to support it and contribute to improvements.
The CGS Token Sale is expected to start in October. Early participants enjoy discounts up to 20%.
KYC is required, there will be an early access for those who are on the whitelist.
Soft cap: $1,000,000 | Hard cap: $10,000,000
ICO token price: $0,14
20% discount week 1
10% discount week 2 & 3