Chintai 2.0 Enhancements & TOKEN
Written by Chintai Team
First, we would like to express our sincere gratitude for everyone who has supported us and used the Chintai platform. Your contributions have subsidized our effort to pioneer the cutting edge of EOS application development. Chintai enthusiasts have also helped keep the lights on for many EOS users and dApps during peak CPU congestion. These early stage collective efforts have left an indelible mark on the EOS network, and will guide the evolution of the Chintai platform.
It’s only natural that we return the favor by offering several exciting features that significantly enhance our user’s experience, and fundamentally change the direction of the platform for the betterment of all. Our goal is to build an all-in-one, 100% on-chain platform, that serves as the backbone for EOSIO resource exchange. All markets, across all chains, will be tied together by a single token that redistributes profits back to the Chintai token holders.
Chintai has always been a community based project that was inspired by the core principles of the decentralist movement. By tokenizing Chintai, incentives can be aligned between all Chintai token holders, while wealth and ownership can be redistributed. Holding Chintai tokens means you’re invested in the one-stop-shop for EOSIO resource exchange.
Chintai Exchange (CHEX) Token Mining
Chintai 2.0 will introduce the “CHEX” token, which can be mined through leasing, and OTC trading. CHEX token holders will profit on the basis of a shared revenue system. Each staked CHEX token entitles CHEX holders to a percentage of “dividends” that are generated on the basis of accrued fees from Chintai trading. Any fee that is generated by future expansion of Chintai functionality will be added to the shared revenue pool. The more you use Chintai, the more CHEX you earn. More details about the CHEX token economics will be released in the coming weeks.
Chintai is Much More Than Four Leasing Markets
We’re upgrading the leasing markets, which will now offer several new features that make leasing far more efficient, and tailored to your needs.
Chintai 2.0 will also feature three new markets! RAM, REX, and OTC markets will all be included.
Chintai will also be on multiple EOSIO chains. You’ll be able to seamlessly navigate through different markets, across all chains, within one UI.
Chintai will require users to have their own Chintai account. Simply login through the account portal on the Chintai website to manage RAM, airdrops, alerts, and more.
We’re also in the process of building the Chintai DEX, which will be deployed after Chintai 2.0. EOSIO based token pairings will be added starting with CHEX/EOS. Users will be able to execute 100% on-chain orders, with instantaneous order matching.
Several new trading enhancements will also be added, making Chintai more convenient and personalized to your needs.
Chintai 2.0 will introduce an OTC market. The OTC market is for token holders that need to borrow or lend at least 100K EOS. All orders are powered by smart contracts, enabling secure and seamless P2P lending. Orders will be executed through a simple, clear cut interface. Lenders will delegate bandwidth to borrowers, while securing their tokens in their personal account. Therefore, lenders will remain custodians of their tokens, allowing lenders to retain personal security, voting power, and all other privileges associated with maintaining proprietary ownership of tokens.
Chintai will act as the broker for all OTC leases, ensuring leases will be fulfilled, and enable customers to circumvent EOS system wide limitations such as the three day unstake periods. Additional mechanisms will be provided to facilitate extended OTC leasing, and other personalized OTC trading.
Chintai 2.0 will provide a UI for the REX. Features will include a comprehensive trading interface with the ability to buy and sell REX tokens, view full history trading chart, access historical account metrics for trades, view and manage pending sell orders, view how much REX tokens can be sold on a given day, view actual market rate, and toggle between multiple trading charts (REX and EOS price). Currently, Chintai is hosting REX on the jungle testnet: jungle.chintai.io/rex
One of the most important resources on EOSIO chains will now be available for trading on the Chintai platform. Chintai 2.0 will offer RAM trading within the Chintai UI. You’ll also be able to monitor all account resources through your personalized account, which can be accessed through the Chintai website.
Chintai 2.0 Enhancements
Set it and forget it. Nothing is better than making passive income without having to put in any effort. Chintai 2.0 will feature a “compounding interest” option. Users will be able to set prescribed lease terms, that will continually renew based on the preselected terms. The compounding interest setting will continuously submit orders, including the interest earned, until the user has terminated the process.
Chintai 2.0 will enable users to automatically renew orders at a specified price, or at the market rate. Borrowers will need to make sure that they have enough EOS in their account to auto renew. Lenders will be able to auto renew every 73 hours.
Market orders make leasing simpler. Users will no longer be required to scroll through the order book to estimate the market rate. Chintai 2.0 will enable users to execute market orders, which allow users to borrow or lend EOS at the given market rate.
Cross Market Liquidation
Combine the best of all markets. Lenders who want to get the best rate regardless of market duration will no longer be limited to one market. Chintai 2.0 will enable users to execute a single order which gives the best interest rate across all available markets.
Chintai 2.0 will allow users to execute trades without worrying about purchasing RAM. Chintai will automatically handle management of RAM internally, allowing users to stay focused on the task at hand.
Users who require a fixed amount of CPU and NET bandwidth will be guaranteed to receive it without having to manually set up new orders every time a lease expires.
Improved APR Model
Understanding the macroeconomic significance of your trades helps you make better decisions. Chintai 2.0 will display all interests rates based on APR instead of total interest per lease. This feature will be especially important for Cross Market Liquidation.
Chintai will be with you, no matter what EOSIO asset you hold or want to use. Chintai 2.0 will be launching on multiple chains, establishing the backbone for network resource exchange on all relevant EOSIO based blockchains. Users will be able to access trading for all Chains in one interface.
Internal Ecosystem For Account Management
Personalize the Chintai experience with your personal Chintai account. Chintai 2.0 will require an auxiliary “internal ecosystem”, built into the Chintai.io website. Users will be able to manage their Chintai accounts through a portal, enabling easy management of account RAM, airdrops, alerts, and other vital functions for personalized trading management on the Chintai platform.
Never miss out on airdrops that could have significant value in the future. Chintai 2.0 will offer comprehensive airdrop support. Users will be able to register their account through a portal on the Chintai.io website, enabling easy registration, and management of airdrops.
Graphics made with ❤️ by Fractal
This Announcement is for information only and does not constitute any related opinions on investing the Chintai token leasing platform, nor does it constitute any investment recommendation in the form of securities. This Announcement shall neither constitute nor be construed as providing any trading activity or any solicitation to buy or sell any form of securities, nor is any formal contract or commitment. Investor shall be considered as being aware of and accepting the project risks and being willing to bear all the corresponding consequences for the investment once they made any investment. The Chintai team states clearly that Chintai would not be responsible for any direct or indirect loss resulting from investing in the Chintai project. Also be aware that CHEX is not control right or ownership, and controlling or owning CHEX does not represent ownership of the Chintai project.