Cerby Finance
Tokenomics update

15 December 2021:

🐺This update covers three key changes:
  • internal team reorganization
  • tokenomics change proposal
  • stable coins features
1️⃣ Internal Team Reorganization
  1. 1.
    James @xwf22 stepped down from @CerbyMask development 2 weeks ago. We are now leading @CerbyMask extension and CerbyMobile development using our team of developers.
  2. 2.
    Alex @techfunder and Mitchell @mitchellbrain are no longer on the team. We took control over marketing on our own.
  3. 3.
    The current team consists of 4 core developers and ~6 part-time team members.
This team reorganization has allowed us to quickly pick up development and marketing decisions, including updating listings on CMC, CG, and making the new logos designs.
2️⃣ Tokenomics Change Proposal The current wallet distribution is as follows:
  • 6.3B CERBY in wallet1
  • 1.3B CERBY in wallet2
  • 11.4B CERBY in Team Vesting Contract
We would like to change our tokenomics and redistribute the team tokens in the following proportions:
  1. 1.
    2.5B tokens are distributed to @MaratCerby.
  2. 2.
    2.5B tokens are split among the other developers on the team.
  3. 3.
    5B tokens will serve as a business development fund for CEX listings and marketing expenses, including OTC sales as needed. These business development expenses will be shared and governed by the community. We will report every token spent from this fund.
  4. 4.
    9B will be used for the stable coin reserve.
  5. 5.
    1.6B tokens: @HardwoodTS (our top 1 sniper on Ethereum that was blacklisted) has agreed to use his tokens to benefit the project (https://bit.ly/3IVuU7A). We will add these tokens to the stable coin reserve.
  6. 6.
    The vesting contract will be removed, and all tokens will be redistributed according to the above proportions. For transparency, we will provide the list of all wallets of our former partners and new team members, so anyone can check and know what the team does with it. The above changes should be completed by the end of this year.
3️⃣ Stable Coins Current development status:
  • auto balancing [90% done]
  • cron jobs to auto-execute balancing [95% done]
  • documentation and site for stable coins [1% done]
  • our own buy/sell website interface to buy stable coins [0% done]
We will create cerUSD, cerXRD, cerETH, cerBNB, cerMatic, and other stable coins. These stable coins will be backed by CERBY, which is backed by a USDC pool, and will be automatically balanced.
Stable coins will be bridgeable to the Radix DLT network, and users will add liquidity on CerbySwap DEX to farm. Each stable coin will have a single contract address and built-in bot protection. Staking will also be supported, but with a much lower APR (we are thinking between 5-15% per year with a max lock-up period of 1 year). For example, you could stake your $100k cerUSD and forget about the market's volatility and sleep well staking it.
cerUSD will be the most convenient algorithmic stable coin, fast bridging, no KYC, always pegged to 1 USDC through the CERBY pool. cerXRD will allow anyone to quickly bridge 1:1 eXRD from the Ethereum network to any chain, including swapping it to a native 1:1 XRD token on CerbySwap. cerETH and other tokens will be pegged to their native tokens, respectfully. The model is scalable to add any other token with liquidity on all chains.
🔥 The primary killer feature: The only way to buy cerUSD (and any other of our stable coins) will be to buy CERBY first and then swap to cerUSD, which means every cerUSD purchase will increase the price and market cap of the CERBY token. Imagine if $1B flows into the Radix Ecosystem?
  • We need our CERBY token to land in the top 500 (at least) and have a stable trade volume of ~$5M+ to add it to the Uniswap, Pancakeswap, Quickswap, Traderjoexyz, and Spookyswap whitelists.
  • Without the whitelist, you will not be able to swap USDC --> CERBY --> cerUSD directly
  • Even though DEXs call themself decentralized, this whitelist makes them dependent on centralized decisions
  • To solve it, we will need to develop our own buy/sell interface, and everyone who wants to buy our stable coins will have to do it on our site

22 December 2021:

The tokenomics have been updated as follows:

  1. 5.
    Team personal wallets have the following amounts: - @MaratCerby: 2,500,000,000 CERBY (0x43cFD604C3a59f2eE315d25D5D982257D9D28a3E) - Team Member #2: 1,100,000,000 CERBY (0xBD50733cE43871F80AdFb344aB6F7C43B666763F) - Team Member #3: 800,000,000 CERBY (0xaeF1352112eE0E98148A10f8e7AAd315c738E98b) - Team Member #4: 600,000,000 CERBY (0x72fe4aB74214f88e48eF39e7B7Fee7a25085e851)
CERBY transfers made since launch (May 25, 2001):
  1. 1.
    On May 26, 2021, we tried buying influencer posts on Instagram with the following transactions: - 9,975,000 CERBY paid - 6,982,500 CERBY paid - 6,650,000 CERBY paid These posts did not appear effective, so we instantly cut off such influencer campaigns.
  2. 2.
    On July 19, 2021, we decided to pay $4,000 USDT for Dextools top 10 trending for 24 hours, resulting in the following sell transactions: - 64,863,098 CERBY sold - 11,024,113 CERBY sold This trending service also did not boost us, so we decided to continue developing instead.
  3. 3.
    On December 1, 2021, we decided to reform our partnerships and negotiated with our marketing partners so they could step down, resulting in the following transaction: - 500,000,000 CERBY sent

Transparency and Accountability

We will continue to report all transactions in the Business Development Fund and the Stable Coin Reserve. Moreover, our wallets have been named in the trade feed so you can see if we move any tokens: - Cerby Stablecoin Reserve: 0x8149C0a6f5b5417d30F70e00a05d8D15CF471853 - Business Development Fund: 0x72aCC602f185692b80d66f933Bb679b04aD4583d - @MaratCerby: 0x43cFD604C3a59f2eE315d25D5D982257D9D28a3E - Cerby Team Member #2: 0xaeF1352112eE0E98148A10f8e7AAd315c738E98b - Cerby Team Member #3: 0x72fe4aB74214f88e48eF39e7B7Fee7a25085e851 - Cerby Team Member #4: 0xBD50733cE43871F80AdFb344aB6F7C43B666763F
The personal team wallets are the payment to the team members for their work on Cerby Finance and can be used at their discretion. Our team is dedicated to Cerby Finance's long-term success, so most team tokens will be staked long-term.

Circulating Supply

Circulating Supply is calculated using the following formula:

Circulating supply = Total supply - Business Development Fund (liquid) - Staked amount - Stable Coin Reserve