Citadel.one is an all-in-one platform addressing changes and challenges in the DeFi space that offers its users unified UX across multiple networks.
What is Citadel.one?
Citadel.one has 4 main features that make it a crypto super app. The team has built these features from the ground up with their core philosophies of sleek UI and UX. Their focus is to provide a range of high-quality Decentralized Finance (DeFi) products that are encased in a single platform.
These features include:
Citadel.One Validator Service
The Citadel.one platform (Mobile and Web)
Citadel.one Validator Service
The fundamental part of the Citadel.one concept is its Staking-as-a-Service business model. Currently, Citadel.one validates over 20 networks, including Tezos, Cosmos, Solana, and others with a Total Value Locked (TVL) over $85 million and more than 6,500 delegators.
The number of nodes is continuously growing, so maintaining and updating them may be pretty challenging. To handle the workload, the team is using the most advanced technological stack to make sure nodes run smoothly. Their validator nodes have an average uptime of 99.9% and competitively priced fees. In addition to these features, Citadel.one is also partnered with a lot of the Proof of Stake (PoS) networks they support, thereby giving even more credibility to the nodes.
Mobile App and Web Platform
The Citadel.one platform was the pioneer product with the launch of Citadel.one itself. The platform has the following features:
Feature packed Sidebar
Hardware wallets (Ledger and Trezor)
Creation of up to 20 wallets per network
Fiat on-ramp (with Transak and Moonpay integrations)
Support for multiple networks
The Citadel.one mobile app for Android and iOS was released in April 2021, with many of the same features as the web platform. Their app also has biometric security and a sleek UI to make usage easier and secure.
Citadel.one currently supports staking for Cosmos ($ATOM), Tezos ($XTZ), BAND network ($BAND), Secret Network ($SCRT), ICON ($ICX) and IOST. The staking interfaces of these networks are very similar, so there is no need for users to memorize different layouts for each asset. For users’ convenience Citadel.one also supports Ethereum and ERC-20 tokens, Bitcoin and BSC BEP-20 tokens. Polkadot and KAVA are expected in the upcoming updates.
Big Updates on the Horizon
In mid-July, Citadel.one will be undergoing its biggest update ever, with the transition to DAO and the $XCT token sale (the launch of which will take place in several rounds). After the private round of token sale, they got hold of several reputable investors and supporters such as MantraDAO and Master Ventures as well as eminent advisors like Kyle Chasse and Marco Calicchia. The announcement of the next round of token sale is expected in the coming days and will be available to anyone.
Citadel.one DAO and $XCT Token
Citadel.one DAO is a smart contracts system represented by the XCT BEP-20 token. After the Token Sale and the Token Generation Event, the XCT token will be distributed as a reward for:
a. delegations on Citadel.one’s nodes;
b. staking of XCT token.
The more funds users stake on Citadel.one nodes (1), the more staking rewards (2) and XCT tokens they receive from the Emission pool (3). This increases the capital allocated on DAO nodes and rewards generated by them. 50% of those rewards are distributed to the Community Funds pool (4). Later, they can be voted (5) to get back into the pocket of XCT stakers (6). To further increase gains, users can stake received XCT (7) to get additional rewards (8). We believe this incentive model will allow Citadel.one to become one of the largest validators in the field of Staking-as-a-Service.
Citadel.one DAO is launching on Binance Smart Chain network on July 13th. Users can keep track of the latest updates by visiting the Citadel.one DAO website..
In the “Extensions” section, Citadel.one team plans to integrate highly demanded products (such as DeFi projects, Marketplaces, Address Book and etc.) natively.
Integrated Extensions will help build a mutually beneficial synergy with developers: the platform will provide more services to its users, while developers will have access to Citadel.one user base.
The apps will be available in the Extensions store. Users will be able to use DeFi apps such as Compound Finance, order pizza, set up periodic payments or manage NFTs. The main thing here is that the potential for integration is limitless.
Citadel.one will offer seamless connection with multiple wallet types, so users will be able to interact with extensions in their preferred way because the platform supports:
Ledger /Trezor hardware wallets
Metamask and Keplr web 3.0 wallets
Private key/seed-phrase import of any existing wallet
There’s a lot more happening in Citadel.one like Ambassador Program, recently released Validator Constitution and many other exciting stuff. To find out more about Citadel.one, check out their accounts on Telegram and Twitter. Their newsfeed is full of interesting articles, infographics and news about crypto and DeFi.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.