Several people have condemned cryptocurrency citing it as a bubble mainly because of its low acceptability. The low acceptability is largely caused by cryptocurrency projects not having a platform where their tokens or coins can be fully utilized. Meaning most cryptocurrencies never leave the level of crypto exchanges. Meanwhile there are lots of merchants who are willing to accept cryptocurrency in exchange for selling their goods to customers unfortunately, though, there are not many platforms out there giving them this opportunity. Chimpion is killing two birds with one stone. Creating a platform where merchants can sell their products and get paid in cryptocurrency and on the other hand establishing a viable use case for its cryptocurrency which will be used for transactions on the marketplace.
Chimpion came up to ease the burden on merchants who need an interactive yet simple cryptocurrency payment system built with a custom e-commerce CMS backend. With this, the average merchant will have no issues setting up their online shops thanks to the innovative tech from Chimpion. Merchants get to accept payment for goods or services using cryptocurrency and they also get to choose their preferred coin payment option as the acceptable denomination. With Chimpion’s sophisticated content management system, merchants will seamlessly upload their products and have their listed products or services highlighted with the accepted crypto denomination. No plugins. No additional inputs. The problem of cryptocurrency and its volatility is also addressed by Chimpion as the advanced API that comes with the platform ensures that the prices of each base cryptocurrency are constantly updated in real time using the rates from selected crypto exchanges.
There will be two tokens that will serve distinct purposes on the platform. CHIMP and BNANA. CHIMP is the token that has been created to operate on the Chimpion e-commerce platform. The Chimpion Store will utilize CHIMP token as its base currency denomination. Most importantly, CHIMP will serve as a sort of bounty incentive to bring in merchants in a bid to attract its adoption. BNANA or Banana Token, on the other hand is the token of reward within the Chimpion platform, this is because it is earned by customers following successful purchases of goods and services from Chimpion merchants using any required cryptocurrency, including CHIMP as well. Think of accumulating points on a loyalty card and you won’t be far off from understanding how BNANA works. Once earned, it can be used to gain access to promos, discounts and other juicy offers on the platform.
Unlike most other cryptocurrency projects, CHIMPION runs using the EOS blockchain and its DPoS (Delegated Proof-of-Stake). Merchants on the Chimpion ecosystem can become a masternode thanks to the developers of the CHIMP blockchain’s Proof-of-Store protocol. For the meantime, Chimpion will be using the EOS blockchain temporarily as plans are already in place to migrate to CHIMP’s very own blockchain as soon as the mainnet is complete and ready for launch. Once this is achieved, the platform will be able to host secure smart contracts where features like loyalty rewards, dApps as well as token creation will be available for merchants.
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Author - Coltpython
