Published: Jun 23, 2018

Coin Governance System (CGS)

Website

Status

ICO

An on-chain insurance mechanism to protect ICO investors from scams and bad practices

Whitepaper

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Interest lvl

Updated: Jun 23, 2018

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User Rating

Medium

3/5 • 1 votes

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Ticker

CGS

Type

Utility-token

Registration countrySpain

What is Coin Governance System

The funds raised in an ICO will be protected by the CGS through an escrow smart contract. If ICO investors disagree with steps that the project is taking or the way they spend the raised capital, they can submit a claim to the Coin Governance System which could lead to the withdrawal of the remaining funds.

?f the submitted claim receives enough support from other ICO token holders, the claim will be handled by the decentralized community of CGS Arbiters.

If the claim receives enough support, it will be opened and handled by a decentralized judge: the community of CGS Arbiters, who are incentivized to vote correctly.

Coin Governance System Roadmap

Q1 2018

Alpha Release: the publication of the first working version of the CGS platform, which users will be able to interact with.

Q2 2018

Testing Phase: following the alpha release, a version of the platform will be open for the early adopters on Testnet. During the testing phase, users will receive testnet tokens to try the product and give feedback. Testers and users that help improve the platform will be incentivised with mainnet CGS tokens.

Pre ICO: a private token sale will take place prior the public one for a limited amount of participants.

ICO: an public token sale will take place towards the end of Q2 2018

Q3 2018

V0.1 Beta Release: this milestone marks the publication of the first working version of the CGS platform on the Ethereum Mainnet.

Pilot - Skyllz: the Skyllz platform is the first real life ICO project that will integrate the CGS. Investors will enjoy the protection of the CGS for the first time in a real ICO.

Q4 2018

V0.5 - Limited Version: more projects will be included in the CGS. The projects will be manually added after a prior review to avoid spam and monitor the proper functioning of the platform.

V1.0 - Open version: the CGS platform will be open for any ICO. The
governance of the system will be delegated to the CGS community, that will
decide through votings certain parameters of the platform, such as number of
tokens needed to create a project, etc.

Token Allocation

Total Token Supply 70000000

Funding Details

Soft Cap 1,000,000USD (fiat)

Hard Cap 10,000,000 USD(fiat)

Token distribution

70% - Token Sale
15% - Company Reserve
5% - Team
4% - Advisors and Third Parties
3% - Bounty Testing
2.5% - Bounty
0.5% - Airdrop

Funds allocation

30% - Product Development
25% - Tax Provision
20% - Business Development
15% - Marketing & Communication
5% - ICO Expenses
5% - Other (legal, rent, suppliers, etc.)