ChainCatcher report: On-chain yield operating system Concrete has announced the launch of Concrete Foundation, a governance and treasury entity designed to support the long-term development of the protocol, alongside the introduction of its native governance and configuration token, CT. Eligible holders can participate in protocol governance and utilize established configuration features by locking or staking CT under applicable rules. CT is issued by Concrete Network, Ltd., which is also seeking listing access for the token. TGE details will be announced separately; there are currently no claims, presales, or early access programs. CT is an ERC-20 token with a fixed supply of 1 billion on Ethereum and no inflation mechanism. Eligible holders who lock CT may participate in decisions regarding protocol parameters such as strategy approvals, collateral categorization, fee structures, and treasury policies. Users who stake CT can adjust certain protocol-side fees related to their interactions with supported modules under predefined technical parameters. Concrete Foundation is a foundation company incorporated in the Cayman Islands, responsible for coordinating protocol governance and holding and managing the CT treasury. Treasury resources may be used for protocol development and maintenance, security audits, ecosystem integrations, and foundation administrative expenses. The ecosystem has accumulated $1.2 billion in deposits, over $23 billion in total trading volume, more than 54,000 depositors, and over 1.2 million connected and signed wallets. Integration with BitGo Bank & Trust, N.A. and Ceffu custody has been established via AssetCX. Concrete’s product suite includes Earn, Vaults, Enterprise white-label infrastructure, and native AssetCX custody.
Concrete Launches Foundation and Governance Token CT with a Fixed Supply of 1 Billion
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Summary
Concrete announced the launch of its governance token, CT, alongside the Concrete Foundation. The ERC-20 token has a fixed supply of 1 billion with no inflation. CT holders can stake or lock their tokens to influence protocol decisions. The Foundation, based in the Cayman Islands, will manage treasury funds for development and security. Concrete has over $12 billion in deposits and 54,000 depositors. It has integrated with BitGo Bank & Trust and Ceffu via AssetCX. The platform offers Earn, Vaults, and custody solutions. This marks a new token listing on major infrastructure platforms.
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