Genesis IRO Outcome

Citadao.io
2 min readMar 18, 2022

While we are excited that our Genesis IRO has generated massive interest from the community, the IRO did not manage to receive sufficient support from the community before the deadline and we regret to announce that the Genesis IRO has failed.

Quick recap, the Genesis IRO secured a total of $8,046,670 (68.9%) out of the $11,680,540 required to meet the soft cap from a total of 233 unique participants. To all participants, please reclaim your USDC from https://app.citadao.io.

To us, this is a good indication that the IRO process is working well to reflect the voting mechanism where the community gets to decide if the real estate is worthy to be introduced on-chain. We designed the IRO process for all possible outcomes and it worked according to our design.

In the meantime, do verify your KNIGHT token airdrop you earned on claim.citadao.io. Our dev will be making some final adjustments on the airdrop amount and we will be updating the site so that you can receive your airdrop from 26 Mar, 2022 onwards.

The interest generated during the IRO period validates our belief that real estate on-chain is a valuable asset and we are glad that so many of you share our vision for the future of DeFi. We will be lining up a few more real estate for the upcoming IRO. Watch out for our future announcements.

About CitaDAO
CitaDAO.io is a Decentralized Finance (DeFi) platform for Real Estate to be tokenized on-chain, built on the Ethereum ecosystem. CitaDAO aims to solve the lack of liquidity, access limitation, and lack of composability in existing real estate ecosystem by creating interoperability with other DeFi applications/primitives that operate on the Ethereum protocol. Real estate token allows the community to diversify their portfolio on-chain to generate stable yield through real-world assets that have constant liquidity through AMM.

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Join our community on Discord: bit.ly/citadao
Or check out our website: citadao.io and Dapp: app.citadao.io

Disclaimer: The information contained in this communication is based on sources considered to be reliable, but not guaranteed, to be accurate or complete. This communication should not be relied upon or the basis for making any investment decision or be construed as a recommendation to engage in any transaction or be construed as a recommendation of any investment strategy

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Citadao.io

Reinventing the real estate investment ecosystem through DeFi