Community Token (CTU)

Project Title:

Community Token (CTU)

Abstract:

Create a self-funded community-based token built on the Callisto blockchain that promotes social media and other forms of marketing to support the adoption of Callisto Coin, Callisto Enterprises Projects, Callisto Network Services, Callisto Blockchain, and any other future projects. The token would provide an incentive mechanism by airdropping or rewarding Community Token (CTU) to promoters and community members that actively discuss and share Callisto-related project information and achievements by compensating them via the Community Token. The token will model a MEME coin and adopt a similar tokenomics model currently used by other MEME coins to avoid devaluation.

Note: This token does not have to be limited to Callisto-based projects and potentially could be used more broadly as a standard reward system across all cryptocurrencies and non-related projects, all of which could flow through a Callisto Coin pairing through Soy Swap.

Current Situation:

Callisto Coin has limited social media support from the community as measured against the following cryptocurrency projects. The list below is a sample of Twitter accounts. Each project listed below has additional supporter accounts, so the figures only represent a portion of the potential individuals promoting and following these coins/projects. Additionally, the trend continues across other social media sites like Reddit, YouTube, Twitch, and Facebook.

Project Twitter Followers Example Accounts:

DOGE
2,000,000.00
@dogecoin

Ethereum
1,500,000.00
@ethereum

Bitcoin
1,400,000.00
@michael_saylor

Polygon
590,000.00
@0xPolygon

Ethereum Classic
497,500.00
@eth_classic

Callisto
16,300
@CallistoSupport

The current airdrop/reward system leverages Crypto Bot. It uses Callisto Coin as compensation for promoters and community members who take requested action, primarily focused on Twitter retweets and likes. This activity is typically promoted both on Telegram and Twitter.

Why Have a Community Token?

A Community Token separate from Callisto Coin will future-proof marketing for Callisto.

  1. It will allow Callisto Coin, Callisto Enterprises, Callisto Network to launch a new campaign to generate excitement based on the new concept of a community reward token.
  2. Changes the perceived value of Callisto Coin (CLO) by not having it given away like current worthless MEME coins.
  3. As the value of Callisto Coin increases, the current reward system may not be sustainable.
  4. Allows for Community Token to be leveraged to promote other projects, both crypto, and non-crypto, to help drive adoption and bring individuals into the Callisto Eco-system

Project Goals:

  1. The primary goal for this project is to promote and share information and news about Callisto Coin, Callisto Enterprises, Callisto Network, Blockchain, and future projects.
  2. Reward individuals that actively promote and share news and information about Callisto Coin, Callisto Enterprises, Callisto Network, Blockchain, and future projects.
  3. Leverage current and future Crypto Bot functionality to help distribute rewards.

Risks:

  • Potential security risks such as hacking or other black hat activity that could damage or devalue Community Token
  • Development time and cost could be prohibitive
  • Lack of interest by the community
  • Competitors copying the idea
  • The token becomes deflated and it essentially has no perceived value
  • The reward system could be gamed

Project Needs:

  1. A named currency (Token) → Token is created from the Callisto Blockchain (One Trillion Tokens). This would require support from the Dev Team to create the Community Token.
  2. A distribution vehicle → Leverage current and upcoming Crypto Bot features to distribute rewards (Additional development could better support cross-platform rewards for promotions)
  3. Resources to promote content to be shared → Leverage existing Ambassadors and Callisto Team members that currently promote in Telegram to identify and set rewards for promotion in Crypto Bot for relevant content in Telegram and all other supported social media
  4. An automated Token management system (See Tokenomics below) → Callisto Enterprises or Callisto Support will need to develop or source the Meme coin features described and possibly enhance to support Token valuation and burn mechanisms.
  5. An audit of the new Community Token → To be completed by the Callisto Security Team.
  6. Artwork → This could be accomplished by Callisto Enterprises or a community contest to design the coin logo and other marketing materials.
  7. Telegram and other relevant site pages and channels for the new Token will need to be stood up → The proposal team will work with the community and @TontonBenz to develop and put in place these pages.
  8. Marketing Materials to Launch (Video/Announcements) → The proposal team to work with the community and @TontonBenz to develop needed content.

Tokenomics:

The Token will be made deflationary, with a burn mechanism from each transaction. Each transaction will charge a 10% fee, and from that, 10 % will be burned, move 5% to liquidity, 5% to Callisto Enterprises for ongoing management and development required to maintain the token. 5% Fee equally distributed to the listed contributors at the bottom of this proposal.
A 3% Fee distributed to Tio for the development and maintenance of the Community Token version of Crypto Bot.

High-Level Explanation of how Community Token (CTU) Works:

The Community Token is used as a reward for requested promotion activities. A current model of this is the Telegram AirDrop of Callisto Coin to people that complete tasks. CTU would take the place of Callisto Coin as the reward and would be promoted universally across multiple social media sites.

Community Coin Reward Process Diagram

Development:

Development supported by the Callisto Development Team

Testing:

Testing funded and conducted by Callisto Security/Callisto Development Team

Funding:

This will be a self-funded project. Community Token total circulating supply will be one Trillion Tokens; half will be provided to Callisto Enterprises as payment for their support of this project with the stipulation that no later than 3 calendar months after launch, they burn ½ of that token, 250 Billion. Their net proceeds for their support of this project after the burn will be 250,000,000,000 Community Token. The remaining 500 billion tokens will be used to pay contributors (See Compensation for this proposal below) and serve as the funding source for AirDrops/Rewards. They will be considered the treasury funds to be housed in a multi-signature wallet. Services and management of the wallet will be managed by Callisto Enterprises.

Contributors:

Submitted and Developed By:
MyCryptoOdyssey

Concept and Idea By:
Dragomir Tenev

Additional Input and Suggestions:
Giray, Popa Callisto, ZatoTV, Maxime, UnHoly1

Compensation for this proposal:
Contributors will receive an award of Community Token (CTU) equal to 70,000,000 to each per listed contributor and the fee distributions listed in the Tokenomics Section, which will be deposited into assigned private wallets for each contributor at the end of each quarter. (Will require automation of fee deposits and transfer of fees to contributor wallets)

6 Likes

This sounds like a great idea and I support this. Many communities across the crypto space and beyond could take advantage of such token. This would financially benefit and promote the Callisto network as a whole. I think the only part to refine will be the mathematical section of portioning the token for initial launch and automated processes.

2 Likes

Agreed it is a proposal, smarter minds than us can help refine the amounts of tokens and formulas. A trillion is less than many meme coins but ensuring an effective mechanism to support a retention of value will likely require some further attention. Thank you for the feedback!

2 Likes

Well, we’ve looked at the proposal, and we hardly see the point of creating a new token for this purpose. The combo Callisto coin and CryptoBot has already proven itself, and the 3 objectives of the proposal are already covered.

Another advantage of using CLO, it already has awareness, value, and is listed on top tiers exchanges.

Besides, new features are being developed in CryptoBot and should further improve the network effect.

Regarding the Twitter rain, the monthly budget is 25 000 CLO on average, which is adjusted according to the CLO value. This budget is too low to impact the coin price or make it worthless for the community (on the contrary, we can see that most users buy coins when they hold a small amount).

Thank you for your proposal and support of the Callisto network, it is really appreciated. We look forward to your following ideas.

Ps: I don’t see the point in comparing the number of followers of the top 20 projects with a low cap like Callisto Network.

1 Like

I appreciate that you and the Team took the time to review and fully understand the concerns.

Two Points to consider:

  1. One of the main purposes of Community was to have a token/vehicle that brings other communities and projects into the Callisto Eco-System. I would ask that the Team consider that concept even if it is with CLO through Crypto Bot.

  2. The reason for the comparison to high-cap projects is that the goal as expressed today during the AMA by CEO Vladimír Vencálek is to have Callisto be in the Top 100 or Top 20 of cryptocurrency projects, we can only get there by benchmarking against higher profile and higher-value projects.

Once again I thank you personally and the Team for their efforts and I will continue to share ideas to try and enhance and support the project.

2 Likes

I agree that this token can primarily be used outside of Callisto, not necessarily to replace CLO for Callisto’s rain or cryptobot uses. Other communities can add it to their inventory as rewards in cases where their coin or token may be at a high price. The basic user of social media will subconsciously feel more rewarded when they receive 5 Community Tokens instead of .0000X other coins. Therefore gaining more traction for promotion. For example, one would likely rather receive 5 CLO instead of 0.0000141 ETH, without even realizing it, due to the materialistic mindset of modern society. I will test this with a poll in main group.