CitaDAO and the upcoming Merge
This article provides an overview on what to expect for your real estate tokens with the upcoming merge.
Ethereum will transition from Proof of Work (PoW) towards Proof of Stake (PoS) in a process known as The Merge. It is currently likely that it will happen on or around September 15, 2022.
We understand that the entire crypto community is both anxious and eager to witness Ethereum’s transition and its effect on the greater crypto sphere. As a CitaDAO token holder, there is nothing you need to do with regard to The Merge. With The Merge, merely the consensus layer of Ethereum is replaced which should not affect users.
Your Real Estate Token (RET) and KNIGHT tokens will be reflected in the PoS chain.
In line with the broader Ethereum community, in the event of a viable PoW fork, all entities managing on-chain properties intend to only recognize NFTs on the PoS ETH chain as subject to the relevant NFT license and eligible for claiming the associated property's Title deed
CitaDAO’s smart contracts will all be reflected on the PoS chain. Contracts include our Token contracts, IRO contracts, Staking and Liquidity Pool contracts.
Your staked and liquidity pool tokens will show up on the PoS chain. You will maintain ownership over your staked tokens or LPed portion of the pool as per your current MetaMask wallet address.
From the user perspective, it will be as status quo. You can continue to access our platform via app.citadao.io with your MetaMask wallet.
No. CitaDAO will not be supporting any products on the PoW chain. Participating in IROs, staking, and liquidity mining will all be done on the PoS chain. While the existing tokens will be reflected on the PoW chain, they will not be recognized by the entities managing the on-chain properties.