Join a CLO by Spanish YouTuber ByViruZz. A CLO is a Creator Liquidity Offering. Spanish YouTuber ByViruZz just launched his Fan token. His CLO ends Friday, September 9th. You may want to get into the action.
Web3 is starting to make waves. CLOs are part of this movement. The XCAD launchpad provides for these CLOs. You may want to get in early. So, let’s have a look at these CLOs.
The second ever CLO is now live! @byViruZz
📄More info on the CLO: https://t.co/nZkNETGAjS
🗓️TGE will take place this September pic.twitter.com/GAPV7OxHhi
— XCAD Network (@XcademyOfficial) September 5, 2022
What Is a CLO?
As we already pointed out, these are Creator Liquidity Offerings. XCAD offers these on their launchpad. They already completed one successful CLO. However, this second CLO might even do better. It allows creators to bootstrap liquidity for their Creator or Fan tokens. Just to clarify, CLOs on XCAD are for YouTubers.
Fans can get their hands on tokens by watching the token creator’s YouTube content. On the other hand, during a CLO, fans and investors can buy the Fan tokens.
This is the one chance to buy tokens before they start trading. It’s also not possible yet to earn them. Once you get Fan tokens, you can vote on decisions that involve your fave creators’ content.
Tiered Staking System
To clarify, the CLOs work with a tiered staking system. The more XCAD tokens you hold and stake, the bigger the chance of getting a CLO spot. There are five tiers, as you can see below.
- 100+ XCAD staked — This earns you x1 entry to win a CLO allocation.
- 300+ XCAD staked — This earns you x3 entries.
- 1000+ XCAD staked — This earns you x10 entries.
- 2500+ XCAD staked — This earns you x25 entries.
- 3000+ XCAD staked — This earns you x50 entries.
Per CLO, you can win several allocations. The allocation process uses a raffle system.
Furthermore, the XCAD token is deflationary. CLOs play a big part in this process. To take part in a CLO, you need XCAD tokens. In turn, these XCAD tokens get paired with Creator tokens. Thereafter, they’re forever locked in liquidity. This happens to be a better alternative to burning. In this case, the tokens still have utility. Proportional to your pool share, that’s how many Creator tokens you receive. However, registering for a CLO requires you to complete a KYC on the XCAD launchpad.
Source: XCAD blog
How Does the ByViruZz CLO Work?
The best to explain this is with a sample. Below you can find a five-step explanation.
- ByViruZz enrolls in the XCAD Program.
- His CLO appears in the XCAD launchpad. Here you can see how much he wants to raise. It also includes information about the Creator. In this case, ByViruZz and his VRZ token.
- Now you can deposit your XCAD in the ByViruZz pool. His pool size is $105,000. You need to deposit 260 XCAD.
- The ByViruZz pool starts to fill up. The pool will lock the deposited XCAD into liquidity with VRZ tokens. These tokens are now taken out of the market.
- Depending on your share in the pool, you receive VRZ tokens.
The release schedule of the VRZ token is 10% at TGE, with a three-month cliff, this is daily over 12 months. The total supply is 500 million tokens. To clarify, TGE is the Token Generation Event. This CLO has a sale size of $105,000. There’s a cap size of $400 per person. Once the CLO completes, the GTE will follow shortly.
This CLO started Monday, September 5th, 3pm UTC. It will finish Friday, September 9th, 3pm UTC. If you still want to join, you need to hurry.
If you hold a VRZ token, you can enjoy some of these perks.
- A one-on-one Discord call.
- A social media follow by ByViruZz.
- Private gaming session.
- Invitations to special events.
- Signed merch.
- Governance around content and decisions. This brings you closer to ByViruZz.
The picture below shows his YouTube stats and the CLO info.
Who Is ByViruZz?
ByViruZz is from Spain. He has 5.6 million YouTube followers. Furthermore, he has 1.1 million Twitter subscribers and 1.6 million Instagram followers. His vlogs are popular and cover everything from cars to IRL features.
Web3 is around the corner and starting to make an impact. CLOs are an interesting way to get involved on a personal level with Web3. There are at least 27,000 YouTube channels that have over 1 million followers. This shows the potential of the XCAD launchpad. New CLOs are already scheduled and coming up.
The XCAD token price is $1.56, according to CoinGecko. The market cap is $37 million. Out of a total supply of just under 199 million XCAD tokens, 24 million are in circulation. KuCoin, Gate.io, Huobi Global, and MEXC Global all offer this token. PancakeSwap and Uniswap also list the XCAD token.
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