Our utility token used within our eco-system
When we initially launched this project, there was no intention to offer a token to pair with our NFTs purely because we could not be confident on the sustainability of such. How could you possibly guarantee that an ADA pairing token would always be able to have some value against ADA? The simple answer is you can't. You cannot be sure that in years or even months to come that you will have enough liquidity to provide and make an exchange possible. Everyone knows the impacts markets have on projects and secondary volume therefore decreasing available liquidity. That is why we have taken the approach to create a token that is used purely within our eco system. This is not to say we will never create an ADA pairing, but we are focussed on ensure there is clear demand and legalities aline before we make such a step.
The token we have created will have an unlimited supply and will be minted on demand as it is needed, meaning this token is deflationary from the outside view, however within our eco system it has the opposite effect. The ways to earn our token are as follows:
- Staking your ChainChillaz on our platform (this includes all of our collections + partner projects)
- Giveaways through events we run
- Additional ways are being added which you can now read on the future section of this whitepaper
$CHILLAZ will be redeemable via our webstore, read more on such in the following pages on this paper.