The Central African Republic’s Sango project is slowly taking shape as the country has started selling the token to the public. This allows for the acquisition of Central African citizenship, but also the purchase of land in the future cryptocurrency district in the capital, Bangui.
The public sale of Sango Coin is open
The Central African Republic, which has been known for its openness to cryptocurrencies for several months, has taken off the sale of the Sango Coin in this week.
Genesis Cycle is live! Now you can buy yours #SANGO Genesis Price Coins: $0.10.
Secure your place and invest as soon as possible. There are only 210,000,000 SANGO coins left and the Genesis cycle lasts 1 month.
Invest now: https://t.co/GEtReNQBad
—Sango (@sangoproject) July 25, 2022
This is how the Sango project, which we have already talked about several times, seems to be taking shape little by little. This sale is happening in 13 cycles and right now Phase 0 has just started for a month. 210 million tokens on the market.
The starting price is $0.10 and goes up to $0.37. Overall, the Sango Coin should sell at 4.2 billion units and each of the cycles requires the tokens to be locked for one year.
As of this writing, 11.6 million tokens have been sold so far.
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A token with multiple functions
The purpose of selling Sango Coin is Fund crypto projects of the Central African Republic. For example, from the next phase it will be possible to use its tokens to acquire citizenship of the country.
It will cost Sango coin worth $60,000, which will be blocked for five years. A Central African passport will be issued and investors will benefit from a tax exemption on their cryptocurrency earnings.
An “e-residency” program is also coming, with $6,000 locked up for 3 years. If the “e-Residence” does not grant citizenship, it still offers advantageous taxation and allows for simplification of administrative procedures for stakeholders wishing to participate in the Sango project.
In the same line, investments of $10,000 locked for 10 years will allow the acquisition of 250 square meters of land in the future district dedicated to the cryptos of Bangui, the country’s capital. The equivalent of that country must also be represented in a future metaverse.
While everything is yet to be built and nothing to say yet as to whether Sango will be a success or a failure, it is necessary to recognize the unprecedented nature of this initiativemoreover coming from a government.
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Source: Sango Project
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