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Cardstack is a project backed up by cryptocurrency and the blockchain technology that will provide „the experience layer of the decentralized internet“. Essentially, this means that they aim to challenge the big companies by creating an open-source framework that will enable blockchain technology to enter the mass market. This will create a really unique and revolutionary ecosystem with decentralized software. Check out their introduction video below to find out more about the problems that they are trying to solve and how they plan to do it.
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Who Stands behind Cardstack?
The project is coming from The Cardstack Foundation which is a non-profit organization that is located currently in the Switzerland’s Canton of Zug. The team currently consists of 17 people, who are led by the founding director and the acting CEO of the project – Chris Tse. Apart from him, another name pops up as important – Ed Faulker. Both Chris and Ed are educated and professional individuals whose vision and the team could really bring about something unique and never seen before.
How is Cardstack Important for You?
The problems that Cardstack tries to solve and make the world a better place are not that easy to explain. Basically, the creators want to make an ecosystem of its own, which will be powered by their cryptocurrency called CARD (or CST). They believed that the centralized platforms are, in essence, lock-in mechanisms that are flourishing and taking over the world. By making a decentralized ecosystem that is economically sustainable, they will provide the great alternative which, they believe, will eventually be the main users’ option.
The new approach must put the users at the center and let them act as their own hub. Interactions with applications and services flow through a software stack controlled by the users.
source: Cardstack Whitepaper
People who make software will see several benefits of this system. The economic model proposed by Cardstack will introduce rewards which will be distributed to the software and app creators as well as to the open-source communities that plan to support these developers. They plan to introduce the reward pool, as well as the incentives which will all be paid in their cryptocurrency.
Patterns of Card UI Design
The Token Crowdsale Information
The Cardstack Token (CST) will be distributed via the crowdsale. However, only 20% of the total number of tokens will go into the crowdsale. The foundation has adopted an interesting idea of the token distribution which will be divided into 5 parts, or as they call it in their whitepaper, batches.
- Batch A – a presale type of batch where 5% of tokens will be sold and that will go with a 10% bonus
- Batch B – this is the main coin crowdsale, where 15% of the tokens will be sold. The process for acquiring the tokens will require that you register and get approved.
The batches C, D, E, and F are actually not a part of the crowdsale but the part of award cycles. - Batch C – this batch will go to the potential participants that have more than 0.1 ETH on the balance. They will receive an airdrop which will be proportional to their ETH balance
- Batch D – this batch will go o the interested participants. If an open-source project links repositories on Github to Ethereum address, then it will also be rewarded accordingly.
- Batches E and F – the last two batches will go to the active participants. Teams that actively use Cardstack software will receive tokens as a gift for the early adoption of the platform. People who also registered and participated in any type of activity for Cardstack will also get the CST.
Their token is made on Ethereum platform and it is ERC20 compatible. The number of tokens that will be issued is 2 million, and the current price of one token is 0.0175 USD. The only currency accepted for buying their tokens, for now, is only Ethereum (ETH)
Conclusion
Cardstack is still a project in its infancy and their website mainly focuses on how they will solve the existing problems, but there is no detailed info on tokens, ICO, and other aspects that are important for the contributors. However, it is a matter of time when this will be published and more concrete info on the project development is provided. We hope that the team will stick to the schedule and put Cardstack into functioning.
