9. CDO Token Details
To minimize the cost of interacting with the Candao Network, the main Candao products will be powered by smart contracts built on the Polygon Network (as of the date of writing this section, the average cost of a single transaction on Polygon is ~0.0025 USD, compared to ~0.5 USD on BSC and ~10 USD on ETH). To fully utilize Candao products, each user must have a predetermined amount of CDO on hand at Polygon. There will be 3 options to enter into possession of CDO tokens on Polygon:
- Buy CDO tokens directly from Polygon-based DEX.
- Buy CDO tokens on centralised exchange and transfer them to Polygon wallet.
- Use the Candao CDO bridge.
The third option will be available to any CDO (ERC-20) or CDO (BSC) holder directly through the Candao portal. Anyone interested in utilizing the Candao bridge need only to lock their CDO tokens in a seven-day lockup vault called the "conversion room." Candao will contact you within seven days to confirm the decision. Tokens will be permanently removed from the native user's wallet and added to their polygon wallet upon additional approval. It's worth noting that the Candao bridge will operate in only one direction (from ETH or BSC to the Polygon) and will support the transfer of CDO tokens only.