Citrea

Citrea (CTR) is the native governance and coordination token of Citrea, a Bitcoin-focused rollup network. Citrea is designed to add EVM-compatible smart contract execution to Bitcoin while using Bitcoin for data availability and settlement through its BitVM-based bridge, Clementine. The network uses zero-knowledge proofs for state transitions and publishes proof data to Bitcoin.

CTR is issued on the Citrea Network as an ERC-20 token and is also available on Base in bridged form.

CTR is used for staking, governance and network coordination within the Citrea ecosystem. Holding CTR alone does not give voting rights. Users stake CTR to receive xCTR, a non-transferable receipt token that gives voting power over the Citrea Governance Treasury and the Citrea Network.

xCTR is used to vote on areas such as liquidity incentives, council selection, infrastructure provider selection and payments. Citrea’s design separates the Governance Treasury, controlled by xCTR holders, from the Citrea Foundation Treasury, which covers research, grants, operations and strategic work.

The staking system uses a modified vote-escrow model. xCTR is described as a modified ERC-4626 vault receipt token. Unstaking takes place over a 90-day window, with early exit penalties that decline over time and are distributed to remaining stakers.

CTR is also connected to Citrea’s planned gauge system, where xCTR holders may vote to direct liquidity emissions to applications, pools or other approved activity on the network. Citrea says the exact structure, parameters and budget of this system are subject to governance discussion and activation.

Citrea was built by Chainway Labs, a blockchain infrastructure company focused on Bitcoin, Ethereum and zero-knowledge technology. Chainway Labs describes itself as the builder of Citrea.

The Citrea Foundation names Orkun Kilic as co-founder and CEO of Chainway Labs, a core contributor to Citrea and one of the original architects of the protocol. It also names Murat Karademir as co-founder and COO of Chainway Labs. Chainway Labs has also stated that it was co-founded by four computer scientists and entrepreneurs.