Chain Chimps - Whitepaper

Tradition Meets Innovation

Vision

Chain Chimps marks the first NFT collection released by Chain Champs. Our philosophy has always been “Make tools you’d want to use”, and that’s exactly what we’ve done. Created and minted with our own PFP Maker, Chain Chimps will be one of many collections we release over the course of the next year.

As the first collection, Chain Chimps will represent a special “membership” to Chain Champs. That means exclusive benefits, early access to new features, and a whole lot of other things. Community has always been important to us, and we want to make sure to reward our earliest members for supporting Chain Champs and the community we’re fostering.

Summary

Chain Chimps is a collection of 1,000 sophisticated and hungry Chimps that have been minted on the WAX Blockchain. These NFTs are expected to be held by exclusive members of the Chain Champs community. Members who own a Chimp will receive VIC (very important chimp) treatment by our team and will be given many exquisite perks that might just make the non-Chimp users go a little bananas! To learn more about these perks, please read the list of planned utilities below, but keep in mind that as this market changes and evolves, so will some of the uses and utilities of the Chain Chimp NFTs.

Tokens - `Chimp Change`

Holders of Chain Chimps will receive regular airdrops of tokens. These tokens can be used to access paid Chain Champs features. There are two awesome features coming shortly after the release of Chain Chimps.

To be very clear, our intention is not to build out a complex tokenomics system. The only purpose these tokens will ever serve is to be used as credit for Chain Champs services. There is no intention to provide any monetary value to secondary market transactions for these tokens.

Actual distribution amounts and schedule will be released closer to the drop of Chain Chimps.

Utilities/Benefits

Auto-Buy

Want to scoop up a bunch of NFTs under a certain price without finding them all yourself? Want to grab all the new listings under a certain price too? Auto-buy is for you!

Users will be able to set rules that define items they would like Chain Champs to automatically purchase on their behalf.
Creating auto-buy rules will require tokens be spent.
- For the sake of example, it may cost 1 token to create 1 auto-buy rule (these are not final rates, rates may also be variable based on demand)
Each rule will be able to define 1 template the user wishes to automatically purchase, as well as the maximum amount they’d like to spend on the purchase.
There will be a fee associated with items purchased through auto-buy. While the percent may vary, fees will be taken based on the price of your rule. If the fee is 10%, and your rule is 40 USD, the fee will be 4 USD. Fees will never exceed your maximum buy price. In this example, if you buy something for 38 USD, you’ll be charged 40 USD, not 42 USD.
Rules will have max purchase limits as well as expiration dates. As another example, each rule may be able to buy up to 10 items, and last 24 hours from the time of creation.
If multiple rules exist for the same template, the rule with the highest buy price will be given priority. There will also be a minimum increase over any active rules. You will not be able to beat someone else’s rule by increasing the price from 21 WAX to 21.01 WAX.
When creating auto-buy rules, users will be asked to deposit WAX. The amount of WAX they deposit is the fund that their auto-buy rules will pull from.
- Auto-buys may not complete if users have exhausted their deposited WAX balance.
Auto-buying new listings as fast as possible isn’t an exact science, Chain Champs will make its best effort to buy new listings as fast as possible, but with the best prices come competition and it may not always be possible to pick up every listing that meets the requirements of a set rule.
Once a rule has been created, it cannot be modified. The creator of the rule will be able to cancel it at anytime.

Auto-Sell

Selling NFTs can be a little tedious sometimes. You might have 100s of items you want to get rid of, but don’t have the time to figure out what price you want to sell them at. Let us help you out!