Chumbi Valley Litepaper Update

To ensure that Chumbi Valley is built on a solid foundation, we have had our project legally reviewed, in addition to taking community feedback. Below we explain some exciting changes coming to Chumbi Valley. After reading this article, please read the updated litepaper here.

Chumbi Token Airdrop

We have been humbled by the incredible community response that we have received in such a short time. At the core of our vision, is the desire to share the success of Chumbi Valley back to the players, that’s why we have dropped everything to enter the play-to-earn space.

To align with this philosophy, we have decided not to hold an IDO and instead, we will be airdropping 4,800,000 $CHMB Tokens (not yet released). At our original IDO price, this is a gift of $480,000 USD to our loyal community. Follow our social media channels here to keep updated on our upcoming airdrop contests.

Shrine of Giving

Initially, we had planned to introduce an innovative feature called “Play-to-Save” which would utilize the in-game “Shrine of Giving” and integrate with Anchor Protocol to create a gamified savings account. We still plan to achieve this, however, after consulting our legal team, we have been advised that doing this early on will significantly increase our risk and liability, which could jeopardise the early success of Chumbi Valley.

To ensure that Chumbi Valley has a smooth launch, the Shrine of Giving will initially function as an in-game $CHMB staking interface. Lock your CHMB tokens into the Shrine of Giving to reduce the circulating supply and you will receive CHMB APY as a reward. Additionally, level up your Chumbi’s happiness level and assign your Chumbi to the Shrine to earn higher APY rewards! A Chumbi with a maxed out happiness level will become a prized commodity!

$CHMB & $LSTS Buy and Burn

As Chumbi Valley grows, we plan to launch a “Chumbi treasury” feature. It will work as a “safe”, receiving progressively, up to 75% of all game crypto contributions. The treasury will strengthen the ecosystem through the buying and burning of CHMB & LSTS tokens in the secondary markets, greatly reducing both token’s circulating supplies over time.

What’s Next for Chumbi Valley?

The future is looking bright for Chumbi Valley, we may be less than two months into this project but we are already fortunate enough to have an oversubscribed private sale, ensuring that Chumbi Valley will have the support to grow into a leader in the Play-to-Earn space. Next up we are finishing our full website in preparation for the super exciting “Seed Chumbi NFT Presale” featuring the rarest NFTs to ever exist in the Chumbi universe!

Make sure to read the updated litepaper here and join our many active communities that are full of super friendly Chumbi fans!

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