Central African Republic Set to Launch Sango Bitcoin Sidechain

The Central African Republic (CAR) will launch the Sango Platform on July 25th. The Sango Platform will serve as a central hub for crowdfunding, distribution and community support efforts. Sango is a national crypto project being developed by the CAR government with Sango Coin ($SANGO) as the native currency of the ecosystem. SANGO has a total supply of 21 billion tokens. According to the recently published Sango Genesis white paper, Sango will function as a private bitcoin sidechain similar to that of Blockstream’s Liquid Network. The Sango Layer 2 will reportedly have a built-in bitcoin interoperability via a two-way peg mechanism. Users who deposit $BTC into the Sango sidechain will mint Sango bitcoin (s-BTC), a wrapped version of bitcoin. Users can trade s-BTC for $SANGO. The Sango platform will have a built-in automated market maker to handle conversions between s-BTC and SANGO. The Sango sidechain will have 21 node validators responsible for facilitating transactions on the network.