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ToggleIn the Web3 world where digital identity is becoming increasingly important, Civic (CVC) emerges as one of the pioneering solutions for safe, decentralized, and user-friendly identity verification. What is Civic and why is it playing a crucial role in the digital identity journey? Let's explore the details with Allinstation in the article below!
What is Civic (CVC)?
Civic is a decentralized identity protocol built on blockchain, allowing users to verify their identity safely, privately, and cost-effectively. The project aims to digitize and simplify the identity verification process for Web3 applications, dApps, financial institutions, and Web2 businesses transitioning to blockchain.
Founded in 2015 and successfully raising capital in the 2017 ICO, Civic is one of the pioneering projects in the Decentralized Identity (DID) field.
At the end of June 2017, Civic held one of the most successful ICOs at that time, raising a total of 33 million USD in a short period. Each CVC token was sold at $0.10, and notably, the project did not apply any bonus or discount, with all investors purchasing at the same price. This was quite rare during the ICO period, when most projects favored early investors with discount policies.
- Users: Users who want to access dApps or services that require identity verification.
- Validators: Identity verification parties (usually KYC organizations).
- Requestors: dApps or enterprises that need to verify user identities.
User information is verified and hashed stored on the blockchain. Requestors can check the validity of identities without direct contact with the original data, ensuring privacy.
Current Operational Situation of Civic
As of 2025, Civic (CVC) continues to operate, though not creating as much buzz as during the Web3 ID project boom, but the Civic ecosystem remains stable with 3 main product lines including: Civic Pass, Custom Pass and Civic.me, with Civic Pass being the most widely used in projects requiring identity management and access.
- Civic Pass is still integrated into many DeFi, Gaming and DAO platforms, especially applications that need KYC compliance or identity verification.
- Civic has expanded integration to multiple chains like Ethereum, Polygon, Arbitrum, Solana,… showing multi-chain ambitions and increasing product coverage.
- Civic's interface and SDK are still periodically updated, mainly focusing on optimizing on-chain integration and UI for Web3 dApps.
Most recently on 05/16, Binance Futures announced the listing of Civic (CVC) – Details
Basic Information about CVC Token and Tokenomics
Token data
- Ticker: CVC
- Contract: 0x41e5560054824ea6b0732e656e3ad64e20e94e45
- Decimals: 8
- Blockchain: Ethereum
- Token Standard: Utility Token
- Token Type: ERC20
- Total Supply: 1,000,000,000 CVC
- Circulating Supply: 1,000,000,000 CVC
Token Allocation
- 33% used for capital raising through token sale.
- 33% held by Civic company.
- 33% used for ecosystem development.
- 1% used to pay token sales costs.
Civic organized a token sale round with 33% of tokens in late 06/2017, without any discounts or bonuses, and raised 33 million USD with a selling price of 0.1 USD per CVC token. Except for the tokens held by Civic company which will be locked for 3 years, all other token portions will be unlocked and gradually released over 3 years.
Token Utilities
- Payment for identity verification services.
- Rewards for validators.
- Fees for Civic Pass integration.
Investors in Civic (CVC)
Civic is a quite substantial project having raised over 67 million USD in 2017 – a number considered very large that no project could achieve at that time, with capital raised from top Blockchain funds like Pantera, Blockchain Capital
Civic (CVC) Development Team
Core team:
- Vinny Lingham (CEO): A famous entrepreneur who previously founded the digital gift card platform Gyft.
- Jonathan Smith (CTO): Over 15 years of experience in banking and technology consulting.
Technical advisors:
- Matt Roszak: Co-founder and chairman of Bloq.
- Anthony Di Iorio: CEO and founder of Jaxx electronic wallet and Decentral, co-founder of Ethereum.
- Diego Gutiérrez Zaldívar: CEO and co-founder of RSK Labs.
- Jeff Garzik: Co-founder and CEO of Bloq.
Conclusion
Civic is a veteran decentralized identity project with a clear product ecosystem, strong utility token, and reputable team. Although not booming in the recent Web3 wave, Civic still maintains a foundational role in solving identity challenges in the blockchain world.
