The CUDOS exclusive token listing event has just commenced on BitMax, with the project seeing a stellar investor response. CUDOS announced the public listing event after the recently-concluded private sale, where 655,555,555 tokens were made available. As part of the BitMax token listing, 166,666,667 tokens are being offered to the public. The figure represents 1.67% of the total CUDOS tokens available.
CUDOS token allocation
- Private sale – The CUDOS private sale was conducted from October to November 2020, with tokens offered to strategic partners and VCs.
- Public listing – The CUDOS public token listing has just commenced with 155,666,667 tokens available to the public.
- Community and ecosystem development – Tokens kept under community and ecosystem development will be used to build the CUDOS community and ecosystem. The project will provide incentives like bounties, prizes, grants, and developer programs.
- Reserve tokens – These tokens will be kept in reserve for unforeseen administrative operations and R&D.
Token listing event details
Out of the total 10,000,000,000 CUDOS tokens, 655,555,555 tokens were made available for the private sale. The ongoing public token listing has 166,666,667 CUDOS ready for the public, with 3,400,000,000 tokens reserved for the community and ecosystem development, alongside 3,377,777,777 tokens in reserve.
The funds raised from the ongoing exclusive public token listing event of the CUDOS token will be utilized as stated in the CUDOS whitepaper:
- 20% of the funds to be used towards the marketing of the CUDOS platform.
- 30% of the funds to be utilized for product research.
- 10% of the funds to be utilized towards operational costs.
- 10% of the funds to be allocated to community and ecosystem development.
- 7% of the funds are in reserve as a contingency fund.
- 13% of the funds are dedicated to customer acquisition.
- 10% of the funds are reserved for node validators.
The exclusive public token listing event is being carried out on the BitMax digital assets exchange. Users that fulfill the eligibility criteria are now able to purchase the tokens via the CUDOS/USDT pair. The exclusive listing event will last between the 12th of January 2021, until the 19th of January, 2021. A number of lucky participants will be subject to earn airdrop rewards, as stated in Bitmax’s recent press release announcing the exclusive CUDOS token listing.
What is CUDOS?
CUDOS is a cost-effective, multi-chain Layer 2 solution governed by smart contracts. It offers Turing complete network solutions and connects blockchain developers to multiple services like DeFi. The CUDOS platform enables users to access cost-effective computing and gives equity to hardware owners. The smart contracts on the CUDOS platform allow blockchains to connect to secure external platforms in a decentralized manner. CUDOS also enables smart contracts to request off-chain computing enabling them to run code in languages like C++, Python, and Go.
The CUDOS project is backed by a capable and diverse team of engineers, entrepreneurs, data scientists, and strategists. The Cudo platform has a presence in nearly 150 countries. Advising the CUDOS team are Chris Deering, the ex-president of Sony Playstation, and Jorg Roskowetz, the AMD blockchain director.