ColonyPrice

(CLNY)

Colony Network Token (CLNY) is a token designed for a colonization framework aiming to establish "Memocracy"—a decentralized governance model. This model is powered by its community, blockchain technology, and AI-driven resource management. The project seeks to combine human creativity and decision-making with AI optimization to build a decentralized governance system. Colony functions as infrastructure for organizations that operate via software, rather than traditional paperwork and management hierarchies, using smart contracts to define organizational aspects.

CLNY is the internal token of "The Meta Colony," which is responsible for developing, supporting, and growing the Colony Network. CLNY is required as a stake to participate in Reputation Mining, where miners earn rewards in CLNY and reputation within the Meta Colony. Accounts holding CLNY and Reputation in the Meta Colony can claim a share of the Meta Colony's revenue. The Meta Colony collects a small fee when users claim payouts from tasks; this fee is crucial for the game-theoretic security of the Colony Network's reputation mining and governance processes.

The Colony Network Token (CLNY) operates on the Ethereum platform and has a total supply of 200,000,000 tokens. CLNY tokens can be acquired through trading on various cryptocurrency exchanges. There are also methods to earn CLNY for free, such as inviting friends to LBank or participating in LBank Launchpad airdrops.

Colony has undergone significant developments, including the soft launch of Colony v2 in early 2021 and plans for a new version, Colony V3, in 2024. The project has also announced a migration of CLNY liquidity from Gnosis Chain to Arbitrum One, with plans to establish a new Uniswap V3 pool on Arbitrum One by December 19, 2024. This migration aims to improve trading efficiency and benefit from Arbitrum's active user base. Support for the legacy Colony UI on Gnosis Chain is being phased out after December 31, 2024.

Colony is developed and maintained by "The Meta Colony," a Decentralized Autonomous Organization (DAO). Membership in the Meta Colony is open to all, and it has special permissions, including the ability to add, remove, or modify skill tags used across the network. The project utilizes "Lazy Consensus" for decentralized governance, where suggestions are motioned with a stake, and voting only occurs if an objection is raised. Governance mechanisms can also be set for different decision types, such as hybrid or reputation-weighted voting.

CLNY tokens have been available on exchanges like LBank and other platforms. However, as of late 2024, CLNY tokens stopped trading on all exchanges listed on various data aggregators, and information will be updated if market activity resumes. The project is migrating liquidity to Arbitrum One. For storage, as an ERC-20 token, CLNY can be stored in any wallet that supports Ethereum.