Introduction
Tokenomics is always crucial to a project. When we took over the project from the original founder last November-December 2022, there was already an existing token, which is CC, earned through staking and community rewards (please read our history page for more details). After a year with this project, we have realized that the tokenomics should change to consistently reward our existing holders and extend a warm welcome to newcomers in our ecosystem through owning $CHIP (the new token).
At this time, the total circulating supply of CC is around (subject to change as some NFT holders have not yet harvested their CC). These tokens have been distributed as follows: and the remaining . To ensure accurate accountability for these tokens in the $CHIP allocation, they will be attributed as follows: 98.3052% will be converted into $CHIP staking allocation, and the remaining 1.6948% will be converted into $CHIP marketing allocation.
Technically, these numbers are subject to change as some NFT holders have not yet harvested their CC. Harvesting of your CC will be open until the token sale.
Regarding $CHIP, the total supply of this token is 1.6 billion. Below is the graphical representation of the $CHIP distribution.
Presale and Treasury (40%). Tokens reserved for investors and it will be reallocated as treasury funds for future investments or tokenomic updates in the event of any unsold tokens.
Staking Rewards (30%). Passive rewards for our NFT holders.
Farming (10%). Rewards for our LP providers.
House Pot and Platform Incentives (8%). Users of our platform can gain additional $CHIP.
$CHIP Airdrop (4%). Our loyalty pass and presale pass holders will receive an airdrop.
Marketing (3%). Helps the team to onboard more user in the platform and to advertise $CHIP.
The percentages displayed on the pie chart, namely 1.08% and 0.19%, are derived from the estimated allocation of CC holders as indicated by the numbers above. We converted 98.3052% from staking rewards and 1.6948% from community rewards into CHIP using the specified conversion ratio of 6:1. The detailed conversion ratio can be found in here.
All tokens will be distributed over a 4-year time period.
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