Chumbi Valley Tokenomics Update

3 min readNov 14, 2021

A quick update to share some tokemonics tweaks that have been made to ensure that Chumbi Valley has a strong foundation for a successful token launch in December.

Token Supply

Based on expert guidance from our team of advisors, we have decided to adjust the total supply of CHMB to 30B. This change means that gaming, staking, and airdrop rewards are more substantial and exciting for players. For example, rather than receiving 1 CHMB for completing a task you would receive 100 CHMB!

Team

The Team’s token allocation has been reduced, allowing more tokens to be allocated to marketing. This will ensure Chumbi Valley can reach many new players in the near future.

Airdrop

After having our project reviewed by experts in the NFT gaming space we have decided to slightly reduce our token airdrop from $480k to $300k. The rationale is that too many free tokens can cause selling pressure at token launch which could hurt the community.

Private Sale

We have reduced our total private funding allocation from 17% to 15% allowing more tokens into liquidity and also reducing our initial market capitalisation. Please note: we are no longer taking offers for our private sale.

Initial Market Capitalisation

The above changes have allowed us to reduce our initial market cap from $558k to $450k, this is a big positive for the community and token launch.

BSC <> Polygon

After receiving many requests from the community to integrate Chumbi Valley with BSC. We are excited to announce the Chumbi Valley’s main token $CHMB will feature a two way bridge between BSC and Polygon. CHMB will initially launch on BSC via PancakeSwap this December.

About Chumbi Valley

Chumbi Valley is an enchanting RPG Play-to-Earn blockchain game, featuring NFT creatures and original art inspired by Pokemon and Studio Ghibli.

Chumbi are adorable bipedal NFT creatures that inhabit a mysterious forest valley. As the main character, you can breed and collect Chumbi, explore with them and battle to earn crypto rewards. Earn additional rewards by working with your Chumbi to maintain a farm and grow crops. Gather in-game resources to craft NFT items and even earn while offline with Chumbi automation spells. Additionally, you can own NFT land plots in Chumbi Village, where you can interact with other players and build a community.

Chumbi Valley is being built on BSC & Polygon to take advantage of near-instant transaction speeds and almost zero fees. It will be playable in app form, launching on PC, Mac, Android, and eventually iOS with the goal to reward dedicated players across the world with cryptocurrency.

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