Neo Tokyo x Citizen Capital
Citizens, the next evolution of Citizen Capital is almost here…
CitCap was the first Citizen project through the Incentivized Building program, with startup costs covered from the Treasury and an official brand endorsement as Neo Tokyo’s official VC arm.
The IB Program has now transformed into the Citizen Partner structure, and CitCap as a Gold Partner stands as a shining example with: $BYTES utility, NT Treasury revenue share, and direct value provided to all Citizens.
Some of the CitCap investments opportunities over the last year + have included:
– Midnight Society
– Life Beyond
– Nillion
– SupraOracles
– Heroes of Mavia
– Mint Defense
The past structure and seed investment access has served Citizens well, and hopefully soon, investors will see great returns on their investments as the deals close/exit over the coming months and years.
Looking forward, we’re excited to enter a new era of our partnership with CitCap V3 Updates.
The Updates
Investments:
Utilizing their industry connections, Becker and Ellio are providing Citizen-exclusive crypto gaming deals to CitCap. Some of these deals are completely private and not available with any other VCs or funds.
Token launchpad deals are being added into the mix, along with the usual seed investments CitCap investors are already familiar with.
The CitCap team is providing additional deal flow that will be shared with their external fund, BasedVC. The only access BasedVC external partner communities will have to Becker and Ellio deals will be through $BYTES burning access for leftover allocation not filled by Citizens.
Access:
Access to Citizen Capital is restricted to Neo Tokyo Citizens plus $BYTES Staking
– Citizens not staked with Neo Tokyo must stake 200 $BYTES with CitCap
– Citizens staked with Neo Tokyo must stake only 150 $BYTES with Citcap
Round Structure:
The first round will consist of optional $BYTES burning for guaranteed allocations. Guaranteed allocation tickets can be purchased prior to an investment. At the start of an investment, a 24 hour window will begin for tickets to be used. If an investor doesn’t utilize their entire guaranteed allocation, it moves back to the main investor pool.
The second round will consist of Citizen first come, first serve (FCFS) to invest up to their individual max allocation.
The third round will consist of open Citizen FCFS with no cap for any unfilled allocation.
Citizen Allocation Details:
Citizens will have varying max USDC allocations based on:
– S1 Elite, S1, and S2 Base Allocation %
– Staked $BYTES
– Held $BYTES
– Reward Rate Trait (S1)
– Allocation Trait (S2)
(Multiple Citizens held in the same wallet will stack max allocations)
– Staked $BYTES with Neo Tokyo have a multiplier associated with the staking timelock period.
– $BYTES staked with Citizen Capital do not have a multiplier.
– $BYTES held in the Citizen wallet are worth 1/4 of a staked BYTE.
– The Reward Trait is an S1 Citizen Trait and has an overall $BYTES multiplier based on the trait value.
– The Allocation Trait is an S2 Outer Citizen Trait and has an overall $BYTES multiplier based on the trait value.
– The Base Allocation Tiers are %’s taken from the total investment size. In the graphics, the example investment size is $500,000. This amount is added to the $BYTES and multiplier points total to complete the calculation for Max Allocation.
Examples
For a $500k total investment, you can see the Citizen base allocation tiers are:
– Elite: $1500
– S1: $900
– S2: $150
In this example, you can see the highest rarity Elite, with maximum $BYTES staked for 2 years + holding 1000 extra $BYTES has a $10,000 max allocation.
Notes:
Due to the significant changes on the backend legal structure and investment platforms, all previous CitCap investments will be accessible through the external BasedVC website.
All future CitCap investments will be through the new Citizen Capital website: https://citizencapital.fund/.
All $BYTES currently staked with CitCap will carry over.
CitCap Transcendance Card NFTs will be eligible for burning in exchange for guaranteed allocation ticket(s). Note: This was a one-time event that is now complete.
All access tokenomics are subject to change or refinement in the future.
This is CitCap V3 in in a nutshell. We’re very excited to renew this partnership with some amazing deals, leading into the next crypto bull, led by gaming!
Have questions? Reach out to the Citizen Capital team in the Neo Tokyo Discord server through #├citcap-chat