THE TOKENS
The Tokens - like many play-to-earn games, Chumbi Valley will have
2 tokens with different purposes and different metrics.
The CHMB Token
The Chumbi Token (CHMB) will be closely linked to the game’s ecosystem. It will be used as the primary form of in-game currency, but will also have many other uses. There are three main ways of using a CHMB token
Utility 1. The first use is as an in-game trading utility. Players will need CHMB to pay for a lot of things like
- Chumbi NFT Marketplace
- Breeding event
- Land Sale
- Merch Shop
- In-Game Purchases
- Rewarded Burning Event
Utility 2. The second purpose is as a staking utility. CHMB will grant to holders staking rewards when locked in the Shrine of Giving. When holders lock-in their CHMB, they will decrease the circulating supply and will be rewarded with additional CHMB based on their Chumbi’s happiness level.
Utility 3. The third use is as a DAO utility. This will come later in the last stage of the game development. CHMB will give holders the opportunity to actively participate in the future direction of the game!
The project will slowly and safely shift from an initial “chaperoned” structure to a fully decentralized online game. CHMB holders will be able to participate in the project's governance, voting as part of an upcoming DAO/DAC, allowing them to shape the future of Chumbi Valley.
Chumbi Treasury
In the medium term, the team is planning to launch a “Chumbi treasury” feature. It will work as a “safe” and insurance of the project’s future full decentralization, by gradually receiving up to 75% of all game crypto contributions.
The treasury will strengthen the ecosystem, through buying and burning of CHMB & LSTS tokens in the secondary markets for stability purposes. It could also be used for various topics such as: planting real trees, charity donations, player rewards, in-game events, and more.
A deflationary Token
Additionally, the “Chumbi Treasury” will eventually buy and burn CHMB, making it naturally deflationary as the ecosystem grows.
Allocation Chart
There will a be a total supply of 30 Billion CHMB Tokens
The tokens will be distributed as per the following allocation:
- LIQUIDITY RESERVE 4%
1 200 000 000 CHMB (1.2 Billion)These tokens will be used to provide liquidity on Exchanges for CHMB trading - MARKETING 7%
2 100 000 000 CHMB (2.1 Billion) These tokens will be used for marketing purposes - ADVISORS 8%
2 400 000 000 CHMB (2.4 Billion) These tokens are distributed to the advisors of the project - PRIVATE SALE 16%
4 800 000 000 CHMB (4.8 Billion) These tokens are used for rewarding the players with CHMB in the game - TEAM 18%
5 400 000 000 CHMB (5.4 Billion) The team tokens - PLAY TO EARN 21%
6 300 000 000 CHMB (6.3 Billion) These tokens are used for rewarding the players with CHMB in the game - STAKING 24%
7 200 000 000 CHMB (7.2 Billion) The tokens will used for the staking rewards - IEO 1%
300 000 000 CHMB (300 Millions) The tokens allocated for the Kucoin IEO - AIRDROP 1%
300 000 000 CHMB (300 Millions) The tokens allocated for Airdrop to the community (including the Chumbi Seed holders airdrop)
VESTING SCHEDULE
THE LSTS TOKEN
The Lucky Stars Token (LSTS) is Chumbi Valley’s secondary token. Unlike the CHMB Token, LSTS has an infinite supply. It has been designed to power the “play-to-earn” player reward system.
It is required for and burnt in these five core Chumbi mechanics:
- Chumbi Breeding
- Chumbi Levelling
- Chumbi Spells
- Chumbi Happiness
- Crafting Recipes
This makes LSTS a prized commodity, as it is required to create new Chumbi and to improve them.
Players can earn LSTS by battling wild cursed Chumbi. The stronger the foe the more LSTS are given as a reward (PvE). Players can also battle other players all around the world and win LSTS for their victories (PvP).
Additionally, players can obtain LSTS by exploring, completing in-game quests, farming crops, gathering resources, and selling in-game assets and items to the Wandering Trader.
LSTS will be minted each time a player completes a “play-to-earn” task, and it will also be burnt in increasing quantities as players breed and improve their Chumbi. The Chumbi Valley team will keep a close eye on the inflation rate and ensure that an optimal balance is maintained between supply and demand.