Cicada Platform Whitepaper

Cicada Platform Whitepaper ​

Executive Summary ​

Cicada Platform is revolutionizing the cryptocurrency ecosystem by introducing "Yield as a Service," enabling digital asset holders to maximize their returns through innovative CeDeFi operations and Real-World Asset (RWA) integration. By leveraging cutting-edge technologies and protocols, Cicada aims to bridge the gap between traditional finance and the decentralized world, offering unparalleled opportunities for yield generation and asset composability.

1. Introduction: What is Cicada? ​

Cicada is a decentralized financial (DeFi) system that supports CIC, a treasury-backed, yield-enabling token on the blockchain. Cicada leverages the mechanisms of CeDeFi operations and the R² protocol to create a robust, flexible, and innovative yield generation ecosystem.

1.1 Vision ​

To become the premier platform for cryptocurrency yield generation and RWA tokenization, fostering a new era of financial innovation and accessibility.

1.2 Mission ​

Empower digital asset holders with diverse, secure, and profitable yield-generating opportunities while expanding the utility and composability of real-world assets in the DeFi space.

1.3 Why do we need Cicada? ​

Traditional yield-generating opportunities in the cryptocurrency space often come with significant risks or limited returns. Cicada provides an alternative to the crypto ecosystem's reliance on high-risk DeFi protocols or low-yield centralized solutions. By bridging CeDeFi operations with innovative protocols like R², Cicada offers a unique value proposition for users seeking to maximize their returns while maintaining a balance of security and innovation.

2. Core Components ​

Cicada consists of two core components that work in synergy to provide a comprehensive yield-as-a-service platform:

2.1 CeDeFi Operations ​

Cicada leverages the liquidity and profitability of centralized exchanges (CEX) while mitigating associated risks through our proprietary Off-exchange Settlement (OSE) architecture. By collaborating with institutional-grade quantitative teams, we secure market-leading yields for digital asset holders.

Key features:

  • OSE architecture for enhanced security
  • Partnerships with top-tier quant teams
  • Competitive yields surpassing market standards

2.2 RWA Integration: The R² Protocol ​

The R² protocol is Cicada's groundbreaking solution for enhancing RWA liquidity and composability. This innovation addresses the limitations of pure token incentive models by introducing external revenue streams and highly flexible assets.

2.2.1 Dual-Token System ​

  1. ERC20-based R-tokens: Represent the base RWA
  2. ERC20-based rebase-R² tokens: Yield-bearing, auto-compounding assets

2.2.2 Rebasing Mechanism ​

The rebasing process ensures that R² token holders automatically receive their share of yields:

  1. Project teams mint r-tokens based on RWA issuance
  2. Daily revenues are used to buy and burn r-tokens
  3. Equivalent R² tokens are minted and distributed to holders through rebasing

Example: Partner rMNER Project ​

  • Yield backed by BTC mining machines
  • Daily net mining revenue swapped for rMNER in the official rMNER-BTC pool
  • rMNER burned and re-minted as r2MNER in a 1:1 ratio
  • r2MNER automatically distributed to r2MNER holders via rebasing

2.2.3 Composability Benefits ​

The R² protocol's R² tokens serve as fundamental building blocks for various DeFi applications:

  1. Foundational yield for blockchain networks
  2. Base yield for decentralized applications
  3. Yield and financial product basis for institutions
  4. Integration with yield derivatives
  5. Novel lending models based on future cash flow revenue

3. Cicada Tokenomics (CIC) ​

3.1 Token Utility ​

The CIC token is central to the Cicada ecosystem, providing multiple benefits to holders:

  1. Governance: CIC holders can vote on key platform decisions, including:
    • Launching new assets on the platform
    • Redirecting revenue streams for token buybacks or liquidity support
  2. Fee Distribution: When users interact with the CeDeFi protocol or perform swaps (e.g., BTC, rMNER, r2MNER), transaction fees are collected and redistributed to CIC token holders.
  3. Incentives: CIC tokens are granted as incentives for participating in the ecosystem, encouraging long-term engagement and growth.
  4. Staking: Participants will be able to stake various r tokens to form nodes and participate in mining.
  5. Launchpad Access: CIC holders get priority access to new projects launched on the Cicada platform.

3.2 Launchpad Operations ​

Cicada’s launchpad will allow projects that utilise the R² protocol to scale using high-quality RWA assets to support sustainability and fair launch operations. Participants on the Cicada platform will receive additional Cicada token rewards. Cicada’s governance token will play a crucial role in quality control when it comes to the selection and launch of future projects.

3.3 Token Distribution ​

Total Supply: 1 billion CIC tokens

  • Ecosystem: 50% (25% unlocked initially, 36-month linear unlock)
  • Investors: 15% (6-month cliff + 36-month linear unlock)
  • Advisors: 5% (6-month cliff + 36-month linear unlock)
  • Team: 20% (12-month cliff + 36-month linear unlock)
  • Treasury: 10% (25% initial unlock, 36-month linear unlock)

3.4 Node Rules: ​

Will disclose in the future.

5. Future Developments ​

5.1 Cicada DEX ​

To further enhance the ecosystem and bring more fee-generating opportunities in-house, Cicada plans to launch its own decentralized exchange (DEX). This will provide:

  1. Seamless trading experience for Cicada ecosystem tokens
  2. Additional fee revenue for CIC token holders
  3. Increased liquidity for R² protocol assets

5.2 Launchpad ​

The Cicada Launchpad will support the growth of projects utilizing the R² protocol, emphasizing high-quality RWA assets for sustainability and fair launches.

Features:

  • Initial liquidity support for new R² protocol projects
  • Additional CIC token rewards for participants
  • Governance token role in project quality control
  • Support for scalable and sustainable RWA-backed projects

6. Roadmap ​

Cicada Platform's development roadmap focuses on expanding services and enhancing user experience:

  • RWA Asset Trading Market
    • Order Book for tailored market needs
    • AMM for standardized computing power market
  • RWA Asset Lending Market
  • Enhanced CeDeFi Services
  • Financial Derivatives Products
    • Leverage trading
    • Revolving loans
  • Cicada DEX launch
  • Expansion of the Launchpad ecosystem

7. Security and Trust ​

Cicada prioritizes the security and trust of its users through:

  • Rigorous smart contract audits
  • Transparent contract addresses
  • Continuous security improvements
  • Regular community updates and governance participation

8. Conclusion ​

Cicada Platform represents a paradigm shift in the cryptocurrency ecosystem, offering unparalleled yield generation opportunities, composability, and RWA integration. By bridging CeDeFi operations with innovative protocols like R², Cicada is poised to become the go-to platform for digital asset holders seeking to maximize their returns while participating in the future of decentralized finance.