Revamping Tokenomics: The Transition from CC to CHIP for Enhanced Utility and Growth — 01/24/2024
This article will outline our vision for the $CHIP token.
1. What is $CHIP?
$CHIP is set to become the latest token within the Cardano Casino ecosystem. Users will have the opportunity to convert their existing CC tokens into $CHIP. The entire supply of $CC will undergo a burning process, resulting in $CHIP emerging as the sole and exclusive token within the platform.
2. $CHIP Utility
$CHIP is a utility token designed to provide exclusive advantages to holders on our platform.
- In-game Currency: This serves as a versatile currency for use within the casino, enhancing the gaming experience.
- Rakeback Boost: Enjoy an increased rake back of up to 10%, maximizing your rewards.
- Scratch It: Experience a lottery-style game with instant prize redemption.
- Buy & Burn: A portion of Cardano Casino’s revenue is allocated for purchasing $CHIP and subsequently burning them.
As our platform expands, we are committed to introducing additional utilities to attract and engage more users.
3. $CHIP Tokenomics
We consider the revamp of our tokenomics crucial, as it enables us to consistently reward existing holders and extend a warm welcome to newcomers in our ecosystem through the acquisition and trading of $CHIP.
Please do check our Tokenomic page in our litepaper for a detailed information.
4. $CHIP Presale Distribution
We aim to guarantee that both our long-time holders and newcomers have an opportunity to acquire $CHIP.
The $640M CHIP will be allocated for the presale, which will be divided among our CHIP Presale Pass holders and Launchpad stakers. Any unminted token will go to the Public Round.
5. Concluding Remarks
When conceptualizing the $CHIP tokenomics and its utilities, our team decided not to retain any portion of the tokens, allocating them entirely to our genuine supporters.
We aspire to become a prominent crypto casino, not limited to the Cardano blockchain. Our goal is to onboard Web 2 users onto our platform and introduce them to Web 3.
