CHEDDA is a first-of-its-kind utility “culture” token that gives holders access to exclusive community experiences. Launched in January 2022, CHEDDA is a decentralized culture token created on the Ethereum blockchain as an ERC20 token. They are a community of entrepreneurs, fun-having, trust-developing, adventure-seeking experience havers.
CHEDDA’s Tokenomics
CHEDDA was created with a total supply of 100 billion tokens. Before the launch, 50% of the total supply was burned. It has a 3% fee on every transaction; 1% is burned forever and the other 2% is distributed to the CHEDDA marketing wallet for continual development of the project.
CHEDDA becomes a deflationary asset by burning tokens on every transaction. There will never be as many CHEDDA in circulation as there are now. By burning half the supply and burning 1% of every transaction, the total supply of CHEDDA will decrease over time.
Get-togethers and Future Roadmaps
The crypto project has already announced its first “get-to-gethas” event, which is supposed to take place on March 14 (this is presumed to be the first event). According to its website, it will be hosted in Boise, the capital of the US state of Idaho, and attendees will have to show proof they are holding CHEDDA at the door.
Chedda Token has set out some ambitious plans in its roadmap for both its token and platform. The token is aiming to hit a $1bn market cap with 50,000 individual wallets holding CHEDDA. With only a $79m market cap and 7,500 holders at the time of writing, it still has a long way to go. It has also announced plans to release its own NFTs for token holders by hinting towards having a presence in virtual worlds, as its roadmap says a metaverse board meeting is on the agenda. Finally, Chedda is intending on holding premium events for the top holders of its token.
Who are the founders of Chedda (CHEDDA)?
The founders of Chedda have not released their identities but have passed the necessary KYC tests. However, it is believed it is a community with members who have aligned their thoughts and goals with the development of CHEDDA and the blockchain in general.
What is Chedda (CHEDDA) used for?
Access to CHEDDA “Get-To-Gethas“
CHEDDA hosts a happy hour for wallet holders to get together and talk about CHEDDA’s progress and future roadmaps.
Special access to CHEDDA NFT drops
Since the NFT royalties will pay for the CHEDDA events, wallet holders will be air-dropped NFT.
Exclusive access to swag for CHEDDA holders
Alongside the airdropped NFTs, wallet holders also get access to NFT tickets to special events with speakers, DJs, influencers, and athletes.
Staking
Users can stake the CHEDDA token for Ethereum tokens or more CHEDDA tokens.
Farming
Yield farming involves lending or staking cryptocurrency in exchange for interest and other rewards, and Chedda allows for it. Users measure their returns in terms of annual percentage yields (APY). While potentially profitable, yield farming is also incredibly risky.
How is Chedda (CHEDDA) unique?
Ever heard of a crypto culture token? Probably not, and that’s because the Chedda token is the first of its kind. Chedda is a decentralized culture token on the Ethereum blockchain. Chedda token holders get special access to certain non-fungible token drops and events.
Community is an integral part of the crypto world and Chedda is looking to harness that. The cryptocurrency is a “utility culture token” that aims to build an exclusive portfolio of experiences and events. As mentioned earlier, Chedda has a total supply of 100 billion tokens and is a deflationary asset—this is due to the nature of tokens being burned, or removed from circulation permanently, with every transaction deliberately decreasing the supply.
In summary, Chedda Token (CHEDDA) is the new kid on the block with ambitious plans to become the first ever culture token and also wants to build a community through exclusive events and get-togethers.
How many Chedda (CHEDDA) Coins are in circulation?
The circulating supply is estimated to be unaccounted for, but the current maximum supply is 99,473,226,476 CHEDDA coins.
How is Chedda Network secured?
CHEDDA was built on the Ethereum blockchain to guarantee the integrity of the monetary and traceability of the token. The Ethereum mainnet is secured by the interaction of thousands of independent nodes run by individuals and miners throughout the world. This makes Ethereum one of the most secure blockchains available, which is why CHEDDA chose Ethereum as its blockchain of choice.
Despite claims about the project’s tight security by the team, there are other concerning issues that negate these claims. The CertiK audit revealed two major problems with the token’s smart contract.
The audit found out that all CHEDDA tokens were sent to a centralized wallet when the contract was deployed, proving this could result in a centralization risk as the deployer could distribute CHEDDA tokens without obtaining the consensus of the community.
Another problem discovered by CertiK is the centralized power of the smart contract’s owner, as the owner can exclude any address from paying the 3% transaction fee and has the power to transfer ownership, making it especially dangerous if a hacker were to gain access to the smart contract.
How do I buy Chedda (CHEDDA)?
The CHEDDA token can be used for a wide range of uses, like staking and farming.
CHEDDA tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and buy CHEDDA through your trading account.
Which Cryptocurrency Wallet Supports Chedda (CHEDDA)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as Chedda (CHEDDA). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their CHEDDA wallet because it offers a simple interactive interface, making it easy for people to navigate its system.
