CMT Token
CMT Token
The native cryptographically secure fungible protocol token of CornerMarket (ticker symbol CMT) is a transferable representation of attributed governance and utility functions specified in the protocol/code of CornerMarket, and which is designed to be used solely as an interoperable utility token thereon.
CMT is a functional multi-utility token which will be used as the medium of exchange between participants on CornerMarket in a decentralised manner. The goal of introducing CMT is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on CornerMarket without any intermediaries such as centralised third party entity/institution/credit. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. CMT does not in any way represent any shareholding, ownership, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will CMT entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. CMT may only be utilised on CornerMarket, and ownership of the same carries no rights, express or implied, other than the right to use CMT as a means to enable usage of and interaction within CornerMarket. The secondary market pricing of CMT is not dependent on the effort of the CornerMarket Project Contributors, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.
For the avoidance of doubt, neither the Company nor the Distributor deals in, or is in the business of buying or selling any virtual asset or digital payment token (including CMT). Any sale or distribution of tokens would be performed during a restricted initial period solely for the purpose of obtaining project development funds, raising market/brand awareness, as well as community building and social engagement; this is not conducted with any element of repetitiveness or regularity which would constitute a business.
Further, CMT provides economic incentives which will be distributed to encourage users to exert efforts towards participation in the ecosystem on CornerMarket, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. CMT is an integral and indispensable part of CornerMarket, because without CMT, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on CornerMarket. Given that additional CMT will be awarded to a user based only on its actual usage, activity and efforts made on CornerMarket and/or proportionate to the frequency and volume of transactions, users of CornerMarket and/or holders of CMT which did not actively participate will not receive any CMT incentives.
$CMT token has a total supply of 1,000,000,000 tokens. The chart below shows our token allocations.
Token Allocation
Sales
20%
200,000,000
6 months cliff from listing, 2 years linear vesting
Team
20%
200,000,000
1 year cliff from listing, 4 years linear vesting
Advisor
4%
40,000,000
1 year cliff from listing, 3 years linear vesting
Foundation
53%
530,000,000
1 year cliff from listing, 7 years linear vesting
Partner
3%
50,000,000
TGE
Token Utility
CMT fuels the entire CornerMarket ecosystem and functions as a loyalty reward membership in itself, providing users with access to exclusive perks, rewards, and premium features, amplifying their overall experience.
Governance
CMT holders can submit and vote on proposals to determine the platform's future direction. This allows the community to have a real voice in CornerMarket's governance and ensures the platform evolves based on the needs and wants of users.
Advertisements
CornerMarket will also launch an advertising system for merchants and agents. Merchants or agents spend CMT tokens to acquire advertising space or run personalized advertising campaigns on the platform to promote their deals. Consumers are rewarded with CMT tokens to view ads and share valuable demographic/preference data, enabling more customized and relevant offerings. This benefits consumers who earn tokens and advertisers who can effectively target audiences.
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