the Central African Republic has started the sale of its token

The Central African Republic’s Sango project is slowly taking shape as the country has started selling the token to the public. This will make it possible to acquire Central African citizenship, but also to buy plots of land in the future district dedicated to cryptocurrencies in Bangui, the capital.

Public sale of Sango Coin is open

The Central African Republic, which has been known for a few months for its openness to cryptocurrencies, has launched the sale of the Sango Coin this week.

Thus, the Sango project, which we have already spoken about several times, seems to be taking shape little by little. This sale takes place in 13 cycles and for the moment, phase 0 has just started for a month. 210 million tokens on the market.

The starting price is $0.10 and will go up to $0.37. In total, the Sango Coin should sell at 4.2 billion units and each of the cycles will require the tokens to be blocked for one year.

As of this writing, 11.6 million tokens have so far been sold.

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A token with multiple functions

The purpose of selling Sango Coin is to finance crypto projects of the Central African Republic. For example, from the next phase, it will be possible to use its tokens to acquire the citizenship of the country.

It will cost $60,000 Sango Coinwhich will be locked for five years. A Central African passport will be issued and investors will benefit from tax exemption on their cryptocurrency income.

An “e-residency” program is also coming by locking in $6,000 for 3 years. If the “e-Residence” does not confer citizenship, it nevertheless offers, too, advantageous taxation and makes it possible to simplify administrative procedures for actors wishing to get involved in the Sango project.

In the same line, 10,000 dollars of investments, locked for 10 years, will allow the acquisition of 250 square meters of land in the future district dedicated to cryptos of Bangui, the capital of the country. The equivalent of this land must also be represented in a future metaverse.

While everything is still to be built and nothing yet allows to know if 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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