The Cedar project, a significant player in the cryptocurrency world, has announced its launch on the Solana blockchain. The transition is accompanied by new goals and a reward system.
Transition to Solana and New Concept
Cedar, previously known as a major rewards token on Binance Smart Chain, is now launching on Solana. This event was made possible through community voting. The project has already achieved success, distributing nearly $40 million in BUSD rewards directly to its holders.
Cedar Reward System
Cedar introduces a new three-pronged reward system:
* Liquidity Pool Rewards: With an initial capital of $3.7 million, the project ensures trading fee rewards flow back to the community. * Pre-Funded Treasury: With $1 million already earmarked for rewards, governed by Cedar DAO. * Real Product Revenue: Cedar's main product, the Atlas Wallet, will be involved in profit sharing.
Unique Governance Model
Cedar's governance model is based on an 11-member DAO committee, composed of early contributors and active community members. This structure aims to ensure transparency and trust, setting the project apart from more traditional financial initiatives.
Cedar's transition to Solana opens new horizons for decentralized finance. The unique approaches to rewards and community governance highlight the project's commitment to transparency and long-term sustainability.
