In just a short time, the Defi space has expanded and grown non-stop. In the current Defi world, users can not only borrow and transact but also save money at an interest rate that is always optimized over traditional markets.
However have you ever heard of real ownership of property in the game? That is the product Citizen Finance will provide you. Invite everyone to read about Citizen Finance through the article below.
What is Citizen Finances?
Citizen Finance is an introduction to GameFi and true ownership of in-game assets. While acting as a bridge between the world of traditional gaming and blockchain, Citizens will create a platform where players are the true owners of their in-game assets, they can stake it, resell it, gift it or simply use it as collateral.
Right to property is often classified as human right which gives every citizen the right to own property purchased using their own fund. Property can include real estate, autos and in our case virtual properties like in-game assets. The main property rights are;
- Right of Control
- Right of Possession
- Right of Exclusion
- Right to Derived Income
- Right of Disposition
Blockchain technology has enabled some games introduced true ownership of in-game assets but the utilities for this new concept is still small and has no real impact in the industry. Citizen Finance will be introducing new concepts and utilities for in-game assets using blockchain technology
Highlights of Citizen Finance!
With Citizens, s players the option to withdraw their unused in-game assets (non-fungible token) and stake on decentralized pools where they can earn Ciphi (CIFI) token. This mechanism will result to frequent withdrawals and deposits in and out of the ecosystem in which users will spend a lot of gas fee. Adopting a blockchain with less gas fee and fast transaction.
Citizens is introducing something new into the utilities of in-game assets. They decided to adopt the Binance smart chain network because it is easy to understand, low cost gas fee, fast transaction and also similiar to the Ethereum blockchain.
Token Citizen Finance
Show at Citizen Finance uses Ciphi as a Citizen Finance platform’s native token, which is generated through NFT betting and liquidity mining. Users can use Ciphi tokens to buy secondary market gifts, use them as their own skin proposal launch fees, implementation fees for Cifipowa, deposit Ciphi to earn liquidity rewards, and also can be used for loan protocol.
Token manager of Citizen Finance, will be notified on how it will operate in the upcoming newspaper system. Future News team will update you as soon as possible when there is any information from the project.
Network: Binance Smart Chain
Type: Utility and Governance
Ciphi token can only be obtain through staking of in-game assets on decentralized pool and through liquidity mining. Users who provides liquidity on decentralized exchange are rewarded in CIFI token after staking their LP.
Whenever a player initiates an harvest, 95% of their Reward is sent to their wallet while 5% is deducted and sent to Treasury.
Reward and Buyback
In other to motivate committed players of Meta City, they will be rewarding players with Ciphi token. Players will be able to convert their in-game currency to Ciphi token at the ratio of 1 meta = $0.01 worth of Ciphi token.
To create more value for Ciphi token, they will carry out a monthly buy back using 20% of profit from primary in-game store until more than 50,000 CIFI token is completely burnt. 50% of the token purchased will be burnt while the other 50% will be sent to dividend pool.
According to the plan, Citizen Finance will carry out the pre-sale in the Q2 2021.
Roadmaps and Updates
In the future, with the continuous development of the Defi space, Citizen Finance will not only operate on GameFI but also expand in other areas.
Thereby attracting users from many platforms with the opportunity to profit from interest rate fluctuations.