The Central African Republic’s Sango project is slowly taking shape, as the country has begun selling the token to the public. The token will be used to acquire Central African citizenship, but also to buy plots of land in the future cryptocurrency district of Bangui, the capital.
Sango Coin public sale opens
The Central African Republic, which has been known for its openness to cryptocurrencies in recent months, launched the sale of the Sango Coin this week.
Genesis Cycle is live! Now you can buy your SANGO Coins at the Genesis price: $0.10.
Secure your spot and invest as soon as possible. There are only 210.000.000 SANGO Coins remaining and the Genesis Cycle lasts 1 month.
Invest now: https://t.co/GEtReNQBad
– Sango (@sangoproject) July 25, 2022
So, the Sango project, which we have already mentioned several times, seems to be taking shape little by little. This sale is taking place in 13 cycles and for the moment, phase 0, which has just started for one month, has put 210 million tokens on the market.
The starting price is $0.10 and will rise to $0.37. In total, the Sango Coin is expected to sell 4.2 billion units and each cycle will require tokens to be locked up for a year.
At the time of writing, 11.6 million tokens have so far been sold.
A token with multiple features
The purpose of the Sango Coin sale is to fund crypto projects in the Central African Republic. For example, from the next phase, it will be possible to use its tokens to acquire citizenship of the country.
This will cost $60,000 worth of Sango Coin, which will be locked away for five years. A Central African passport will be issued and investors will be exempt from taxes on their cryptocurrency earnings.
An “e-Residency” programme is also coming by locking in $6,000 for 3 years. While the “e-Residency” does not confer citizenship, it too offers the tax advantage and simplifies the administrative process for players wishing to get involved in the Sango project.
In the same vein, 10,000 dollars of investment, locked in for 10 years, will allow the acquisition of 250 square metres of land in the future district dedicated to cryptos in Bangui, the country’s capital. The equivalent of this land is also to be represented in a future metaverse.
While everything is still to be built and it is not yet clear whether Sango will be a success or a failure, it is important to recognise the unprecedented nature of this initiative, especially coming from a government.
