Chipit Token

The Chipit network was forked from the Ethereum Classic and Binance Smart Chain in order to build an intertwined digital economy that is owned and governed by its participants while providing guaranteed dividends to token holders. Chipit token is the core of the Chipit ecosystem and supports all the projects inside the ecosystem, functioning as a payment method as well as a long-term reserve asset.

Chipit is a low-inflation and low-circulating-supply asset that is used by validators, developers, and users to participate in the network and earn rewards, as well as to transfer fees, serve as collateral for other tokens, and participate in future protocol governance. Chipit token is the core of the Chipit ecosystem and supports all the projects inside the ecosystem.

The token works primarily as an auto-reward distribution token, whereby token contracts accumulate transactional fees before redistributing rewards to all wallets holding Chipit.

The token distribution is enacted whenever the total number of tokens gathered from fees exceeds a certain amount (which will be adjusted by our team). It is then sold and distributed to the holders with at least 10,000 Chipit tokens in their wallets. Wallets will receive the rewards once per hour.

Chipit Transactional Fees

Chipit sets a higher selling fee than buying fee to encourage holding and discourage token selloffs.

Through every transaction on the Pancakeswap liquidity pool, a fee will be tolled and distributed as follows; (Note, transactions on other exchanges or swaps won't provide rewards in ETC or Binance-Peg Ethereum Classic Token. Only transactions on Pancakeswap will be applicable for auto-rewards.)

Buying Fee: 10%

• 5%: Chipit Holders

• 5%: Marketing Wallet

Selling Fee: 15%

• 8%: Chipit Holders

• 7%: Marketing Wallet

Chipit Token on Multichain

The Chipit token will be made available on both networks, which will prove relative to the tokens holders receive from the Chipit rewards initiative.

Chipit plans to make the token available on other chains as well, such as Polygon and Avalanche, in order to branch out to new users and crypto enthusiasts.