The Bitcoin economy is yours.
The coordination asset is CTR.
I've prepared countless announcements for Citrea, but this one matters the most. Citrea was always meant to transition to a stage where the active users and builders of the network control its direction. With its unique dual-treasury and gauge system, CTR enables the community to direct emissions, align incentives and have a say in the network's evolution.
This has been a long journey with a small but mighty team. Operating as a one-person marketing team, I am incredibly grateful to have our amazing designer @0xseku, our animator Kübra, and @teovfx01 for our 3D designs. Also, a huge thank you to @YAPGlobalTeam. They have been an amazing partner for Citrea's media efforts. With @0x_orkun's direction, this small team executes so much.
The next stop is the airdrop and TGE. Thank you for supporting us! Stay tuned for tomorrow's announcement.
It has been a long 3 years for us to build Bitcoin's Application Layer; First ever ZK rollup on Bitcoin.
And now we are launching it's first DAO with very unique 2 models: Incentive Gauge ruled by $xCTR holders and Dual Treasuary to move -faster, stronger and transparent.
$CTR is not just another governance token which will sit on you wallet and you forget it's existence. It incentives you to activate and participate the DAO.
Are you a protocol?
- Submit a proposal to get $CTR incentives. Not just to a dex pool or money market; get directly to your users for any type of protocol.
- Incentives $xCTR holders to vote for your proposal
- Apply foundation to get a direct grant (details will be shared later)
Are you a user?
- Just earn incentives by using your favorite protocol
- Buy and Stake your CTR, vote with xCTR and multiply your rewards
- Actively participate to governance to get paid by protocols
💫 Our north star was clear from the begining;
- Build the application layer of Bitcoin,
- Scale it to billions and onboard masses,
- HYPERBITCOINIZATION
🧭 CTR will be used as a compass to achive those aims.
Announcing $50M+ commitments & ctUSD Pre-Deposit Vault
→ $50M+ expected from @galaxyhq & others
→ Launching ctUSD Vault with $15M cap
With anchor liquidity from @y10kcapital & syndication by @yield_network, the Vault goes public May 7.
0.6% of CTR supply for participants 🧵
1/8 Today, we introduce CTR, the coordination asset for the Bitcoin economy.
Over the past two years, we built an end-to-end Bitcoin economy that relies on the Bitcoin Network as its source of truth.
With CTR, we're handing control of this economy to the people who use it.
Last week, we finished the second round of network testing!
With this network, we had 64+ mobile phones, running block producing nodes in the background on user-owned devices.
By the end, we had pretty strong results showing viability for the consensus part of the network architecture, with a ~90% median block production success rate!
This is when it starts getting interesting; with the next network, if all goes well, we should have:
• Near 100% block success rate on mobile devices
• High throughput transactions with low latency (targeting 5tps, < 20 second latency for now)
• Verifiable credentials & sybil resistance with Initial zkPassport integration
• First simple sybil-resistant applications
Which should offer the bedrock for a very different kind of user-owned blockchain network.
If you want to check out more, join our discord here to be part of the community, and help us build out these new kinds of networks https://t.co/hiApK0eBc1
[4/7] Talk 3: @evanashapiro presents his work at Usernode Labs for the first time in depth.
User-operated networks where consensus scales with the community. Zero-knowledge proofs + verifiable credentials + a new architecture that runs on mobile phones.
This is the first proper walkthrough of the project.
If you want to be part of future testnets, and help us build this first user-owned network run from mobile phones, sign up here, to join our testnets and tg / discord: https://t.co/NGQHF2LlTU
If you want to be part of future testnets, and help us build this first user-owned network run from mobile phones, sign up here, to join our testnets and tg / discord: https://t.co/NGQHF2LlTU
Our main goal this testnet was to achieve a high block production rate, on nodes running in the background on everyday smartphones, with minimal user intervention.
As we wrap up the phase, happy to say it looks like we’ve been able to do that!
Between many fixes, we were able to get median block production success rate to 96%, up from 55.3% median last phase.
A big step towards showing that a user-operated network like this can practically work. We’ll be reporting full results from the testnet early next week, and what we plan to test next for the network!
Introducing Citrea USD (ctUSD), the native stablecoin for Bitcoin.
Issued by @moonpay and powered by @m0's stablecoin platform.
ctUSD aims to set a native liquidity standard for the Bitcoin ecosystem and offer banking rails between on-chain BTC collateral and fiat systems. 🧵
Yesterday, Citrea introduced ctUSD!
For many people, one of the hardest parts of using Bitcoin today is moving funds between Bitcoin and fiat without friction or surprises.
Native liquidity and direct fiat rails address that risk at the infrastructure level, which is what allows user-focused apps like Tanari to be built safely on top.
This is the kind of groundwork Bitcoin finance actually needs. Congrats team!! @citrea_xyz@moonpay@m0!