Token Utility
Last updated
Last updated
The $CITY token is fueling City Sight ecosystem. The many utilities we are providing aim, not only to increase demand for the token, but to offer an alternative for our users and customers to use a decentralized way of financing their needs. More utilities will be added as our roadmap is implemented.
As part of the City Sight project, we have implemented a governance feature that allows holders to vote on important decisions related to our direction and development. Through a decentralized decision-making process, holders can submit and vote on proposals for new features, partnerships, and other important matters.
Each $CITY token held by a user represents one vote in the governance process. This gives our holders of the $CITY token the power to shape the future of our project, and to align our project goals with their interests.
Additionally, by giving our holders a voice in the decision-making process, we can foster a sense of community ownership and engagement, which can ultimately be beneficial for the long-term success and growth of our project.
Staking and liquidity rewards are a crucial utility for our token holders. Through our staking mechanism, holders can "lock-up" their tokens in return for rewards, which include interest and access to exclusive features and services.
The combination of these two mechanisms creates a positive feedback loop that stabilizes the token price, increases market liquidity and rewards holders for their long-term commitment to the project. And we do integrate these mechanisms with our governance system, this way holders that stake or provide liquidity will have extra voting power in the decision-making process.
By locking $CITY tokens, holders can access different features on the City Sight ecosystem. The first of such features is the dashcam features. Depending on the different tiers, users can choose if they want to access only their own photos, photo of their city or all the available photos.
Token holders and app users can opt-in to lock their tokens for a set period of time, providing them with reward boosters. The more tokens a user locks the bigger his booster.
$CITY tokens can be used on our platforms to pay for subscriptions or generate ad-hoc reports. We will incentivize our current and future clients to acquire our services using $CITY token. This will create a demand for the $CITY token and drive a buying pressure that will benefit all token holders.
We understand the importance of controlling inflation and increasing the value of our token for our holders. That's why we have implemented the buy-back and burn utility as another central aspect of our tokenomics.
Our buy-back and burn program is designed to buy $CITY tokens from the market and permanently remove them from circulation. This reduces the overall supply of tokens and helps to control inflation over time. This way, the remaining tokens in circulation will have increased value.
We are committed to pushing the adoption of cryptocurrencies forward, that's why we will incentivize our customers to pay for our services using $City tokens. Part of the transaction will automatically be burned, further increasing the value of the remaining tokens.
Through our buy-back and burn program, we are committed to creating a sustainable and valuable token economy for our holders, by aligning the interests of our holders with the success of our project and controlling inflation over time.