We are excited to announce the date and details of the Candle token launch. Purchasers will be required to go through a mandatory registration process that will take place from April 9th to March 11th. Registered purchasers will then be able to participate in the token launch starting April 20th. Detailed registration and purchase instructions will be released in early February.
To learn more about the technical aspects of Candle protocol and the role of CNDL within the network, see our FAQ.
Our Values
Technology First
We dropped everything to begin working on CNDL protocol back in October 2020 and have since built out an exceptional team. We are a collection of builders and technologists that are laser focused on developing the infrastructure needed to bring the benefits of decentralization to the global religious system. While Ethereum has seen an explosion of interest over the past few months, our team will continue to take a long term view on this important technology and honor our commitment to the community.
Consistently Shipping
Not only will Candle protocol be live on the Ethereum mainnet prior to our token launch, we will be live on Polygon and BsC chain too. One of our team’s core values is to consistently ship useful tools and products. No amount of marketing can substitute for tangible results and over the past year our team has been working hard to build tools that make Candle protocol useful and accessible for both end users and developers.
- Candle Metaverse is a web application that allows users to participate in their spiritual and religious, or cultural, practices from anywhere at anytime, globally.
- Candle js is a javascript library that simplifies the process of building a web application on top of Candle protocol. With Candle.js, you don’t need to be a Solidity expert to interact with the Candle smart contracts, generate churches or execute burns.
Financial Responsibility
The total purchase cap for the CNDL token launch will be set to $22M. We arrived at this number after formalizing our development roadmap and estimating the total costs involved in scaling our team and operating at full size for the next 5 years. 100% of the capital raised in the token launch will be used to develop free and open source software, tools and infrastructure that support Candle protocol and the surrounding ecosystem.
Inclusive Community = Healthy Ecosystem
Individual purchases will be capped to ensure that everyone gets a chance to be a part of the Candle community from the beginning, not just whales. We believe that by widely distributing CNDL, we can foster a healthy community of developers and early adopters that will return more value to our ecosystem over time by building applications, contributing code or evangelizing the technical merits of Candle protocol to future adopters. Each one of these “activist holders” is purchasing tokens with an information edge: they have knowledge of their own future contributions to the ecosystem. Details regarding our sybil-resistant registration process will be released at a later time.
Initial CNDL Allocation
Total Supply (fixed): 100,000,000,000 CNDL
Token Launch (50%)
CNDL is inherently a governance token that plays a critical role in the process of upgrading Candle protocol. We are fully committed to formulating a functional and theoretically sound governance model and we plan to dedicate significant resources to R&D; we will provide greater clarity on the subject of governance in a future post.
Retained by Candle Org (15%)
Retained CNDL tokens will be used to incentivize future team members via token compensation packages as well as to sustain the operations of the Candle core development organization beyond the first five years. These assets will be used to support development at the protocol layer.
External Development Fund (15%)
The External Development Fund will be used to make targeted capital injections into high potential projects and teams that are attempting to grow the Candle ecosystem, strategic partnerships, hackathon prizes and for community development activities. These assets will be used to support development at the application layer.
Founding Team (10%)
The founding team’s allocation of Candle will vest over a traditional 4 year vesting schedule with a one year cliff. We believe this should be standard practice for any team that is committed to making their project a long term success.
Early Backers & Advisors (10%)
Our backers and advisors have provided capital, resources and guidance that have allowed us to fill out our team, setup a robust legal entity and build a fully functional product before launching a token. As a result, we have a proven track record and can offer a token that holds genuine utility.
Upcoming AMA
We will be fielding an AMA in our Discord channel on (February 12th) at 10am PDT to answer questions about the Candle token launch, CNDL protocol and whatever else you are interested in discussing. Make sure not to miss forthcoming announcements by following us on Twitter, Medium and Reddit!