Chains: Project in the field of DEFI and NFTs designed to allow users to earn, trade, invest and spend across multiple chains

Chains

6 min readJul 31, 2022

Introduce

Due to price fluctuations, crypto is considered a more speculative investment. In recent times, its price has skyrocketed as the cryptocurrency becomes more widely known and accepted, and in recent days, witnessing the market decline many market participants have begun to fear scared. But the problem that I have noticed is that most people enter it without understanding how fierce the market is going to be. Trends like Defi, or recently the rise of NFTs, make many people invest and don’t understand what it is, in order to bring you quality projects in this market always trying to find new and potential projects to provide

About

The team behind Chains is working to deliver a stack of simple and interconnected products with the sole purpose of making cryptocurrencies and NFTs a lot more accessible to the new generation of users. The company develops products that work in concert, naturally, and seamlessly. They are designed and intended to enable users to earn, invest, and also spend cryptocurrency on different services and products across multiple chains all via a single platform. The main purpose is to reduce the burden of having to learn the mechanics of the otherwise complex underlying technology as much as possible. From a token launchpad to market research resources and a unified marketplace for NFTs, products, and services, Chains has quite a bit to offer. Some of the services that Chains plans to tap and offer include, but are not limited to:

Single-account Earn — Invest — Spend experience
Token Launchpad
Services Marketplace
NFT and Products Marketplace
Payment Gateway
Debit Cards
Cryptocurrency Exchange

The Launchpad

The Chains Launchpad is a built-from-scratch token sale platform that supports native and external payment gateways, vesting mechanisms, and multiple blockchains. Chain’s own native utility token, CHA, will be the first token to be made available for sale on the Launchpad. In terms of features, some of the key ones include:

Accepting multiple cryptocurrencies, as well as Visa, Mastercard, and Coinbase.
Integration with the platform’s account system.
Clean and user-friendly design.
Compliance with KYC and SEC 506c requirements.
Custom vesting schedules.
Mechanisms for presales and whitelisting
Mechanisms for introducing bonding curves, tranches, and fixed pricing.

The Marketplace

The main idea of the marketplace is to allow businesses to pay for both services and products using the cryptocurrency of their choosing. Meanwhile, service providers can define the types of services that they are willing to accept. The in-built native support of dynamic payment and pricing methods means that transactions can be settled in any currency that the parties have agreed upon.

Chains is developing a marketplace where businesses can pay for services and products using the currency of their choosing, and service providers can define the types of currency they are willing to accept. The Marketplaces natively support a dynamic payment and pricing method, where transactions can be settled in any currency agreed between the parties. The Seller may parametrically define premiums and discounts based on the currency utilised by the buyer. Businesses and Freelancers on the platform will be eligible for participation in a program providing Earned Income Credits (EIC), which is similar to EITC. The primary purpose of EIC is to assist market participants with surviving various shock scenarios and increase long term user retention. If a Seller experiences a significant reduction in their income, Chains will offset the drop in revenue via the Revenue Pool, subsidizing Seller earnings, thus increasing user long-term retention. The EIC mechanism provides Chains with a competitive advantage over other freelancing and marketplace platforms.

Omni-currency Parametric Matching Payments on the Marketplace can be executed using multiple payment methods, with the currency of settlement depending on the agreement between the parties participating in the transaction. When making an offer or offering a product, the Buyer and Service Provider can specify price in multiple currencies, predefining a respective discount & premium. The Chains platform will then match buyers and sellers based on their payment preferences which can include currencies parameters such as:

Trade Volume
Currency Age
Chain
Listing on selected exchanges
Privacy features

The Exchange

The team is working on a fully-functional cryptocurrency exchange platform. It’s designed and structured in a way that will make it accessible to users from permitted jurisdictions. Those who take part in the Marketplace or in token sales in the Launchpad will also be able to benefit from using the integrated Exchange. The main purpose is to allow users to transact seamlessly and navigate between buying tokens on the Launchpad while also being able to spend and earn crypto on the marketplace.

The ultimate goal is to make the transition from earning or spending crypto on the Marketplace to potentially trading on the exchange as simple and as seamless as possible. It’s also worth noting that the exchange will inject further utility into the platform’s native cryptocurrency — the CHA token — by allowing CHA holders to enjoy reduced fees and potential staking opportunities.

Prism

Chains Prism provides pricing data for cryptocurrencies, comedies, and equities and is designed to deliver analytical and portfolio tracking tools for Chains platform users. The goal is to reduce the need for third-party tools as much as possible and provide an encompassing cryptocurrency experience under one roof. The primary purpose of Prism is to enable users to monitor the historical performance of assets while also providing a more basic functionality like CoinMarketCap.

Token

CHA is the native cryptocurrency of the Chains ecosystem. The CHA token is designed to be the default fee-settlement and payment token on the Chains platform, as well as providing holders of CHA with access to various benefits, usually proportional to their holdings. Both fee settlements and payments on the Chains platform can be made via any currency that the platform supports. However, incentives will be offered to members who pay in CHA as follows:

33% discount on fees when paid in CHA (compounds with holding)
Payment in CHA will be subsidized up to 15% of their value when paid in CHA via the token revenue pool
Stake based Launchpad participation
Stake based trading fee discount
Stake based Automated Airdrop eligibility
Access to exclusive features and tiers based on the amount of CHA staked

It has the following token distribution:

Team

Conclusion

That’s it, I gave a brief introduction to Chains, in addition to the important mission I talked about helping to grow the crypto industry, blockchain technology and even more cryptocurrency adoption. In the world. In this project I see that they have a clear direction and besides the assurance from the relationships in this field and the project is also led by competent people in this market.