Chainpals Token Economy
Chainpals is a community-focused platform. With Chainpals token, you would enjoy voting rights to the upcoming proposals. You would also have the ability to vote for top escrow managers who would be an essential and critical part of the Chainpals ecosystem.
You get discounted fees if you decide to pay the transaction fee via Chainpals token. This is the way to save yourself extra transaction fees while enjoying the security and escrow features of the platform. These are perks of owning Chainpals token.
You get the lowest transaction fees if you perform the entire transaction via Chainpals token.
Staking (Passive Earning)
If you stake the Chainpals token, you get the part of transaction fees which will be distributed to the staking contract. This way, we distribute profits to the community.
Pre-defined token burn mechanism
50% of the token supply will get burned in phases. Therefore, this mechanism will result in an increase in the token valuation over time. Thus Chainpals tokens are designed keeping in mind the benefit of token holders.
With a referral system, you would be able to refer your friends and families and earn a part of the fees they pay for using the Chainpals system. In addition, we have a unique NFT-based referral system in place where you get eligible for referral NFT and earn more.