- Summary:
- Real Estate-centred DeFi platform, CitaDAO has announced the listing of its $KNIGHT token on MEXC Global. We discuss this listing and more.
DeFi-Centric real estate platform, CitaDAO, has announced that it will list its native token $KNIGHT on the MEXC Global exchange on March 16, 2022. The listing will gives users the chance to buy and sell the crypto on a platform with more than 6 million users. Importantly, it is another significant step for CitaDAO in its mission to address the barriers to real estate. The platform targets to increase access, create opportunities, liquidity and improve composability. The token will trade as the KNIGHT/USDT pair, and a Knight Trading Competition will follow after the listing, from March 16th 10:00 UTC to 19th, 15:00 UTC.
The listing comes about a week after CitaDAO launched the Introduction of Real Estate On-chain (IRO) for Genesis. The IRO concept allows the platform users to stake their stablecoins in a smart contract. The stablecoins get locked up for the entire duration of the IRO. Furthermore, the user community is the one that determines the real estate assets to come on-chain. For instance, the community voted for a heritage commercial building in Cardiff, Wales for the Genesis IRO. The income generated from the building’s lease forms the IRO income pool.
MEXC Global has become the only centralized exchange that has listed $KNIGHT. It is also worth remembering that $KNIGHT is also CitaDAO’s governance token. Commenting on the listing, Joel Lin, contributor at CitaDAO said, “We are excited to offer our community members a chance to acquire our governance tokens through MEXC Global.”
About CitaDAO
CitaDAO is a DeFi platform for Real Estate and operating on the Ethereum ecosystem. It aims to break barriers to real estate opportunities: liquidity, accessibility, and composability. The platform’s users contribute to liquidity pools linked to real-world real estate assets. Consequently, they are able to earn stable inflows from real estate assets. Importantly, the real estate concept enables users to diversify their portfolios, therefore hedging against on-chain inflation.