AMA Recap Cryptoscreen White Chipshop Finance

On 6 July 2021, ChipShop Finance conducted an AMA in the Cryptoscreen Community. Our guest is The King of Chipshop Finance.

Lots of questions as usual from the Community about Chipshop Finance progress. The Chipshop Finance team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Cryptoscreen community. If you missed the AMA in person, read this recap for a deeper insight into chipshop Finance.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION

Syaiful :
Okey, Before I start the first session can you introduce yourself to our community?

The King :
They call me King. I run Chipshop Finance with my amazing team!

i’ve been in crypto since early 2017I love DeFi and I hate banks!

Chipshop Finance is IMO one of the best ways to make money on BSC!

QUESTION SEGMEN 1

Syaiful :
1). Can you tell the members a little about ChipShop Finance?

The King :
Chipshop Finance is an algo stablecoin with a difference.

Instead of being pegged to 1 USD like most of the other algos, our CHIPS token is pegged to ETH.

This makes our payouts are more lucrative, and we expect the price of ETH to increase over time, so the CHIPS payouts increase too.

Its a much better way to earn a steady income

than farms

Which is why we say, the Chipshop can replace your monthly salary!

Syaiful :
2. Can you explain how ChipShop Finance and what kind of services it offers to users?

The King :
We offer the ability to get paid, without getting dumped on! Our payments are 2% every hour and close to 10% per day.

Lets put that in perspective.

If you put that money in a bank. It would take 20 years to make what you make in 6 hours here.

This is the power of systems like stable algo coins pegged to moving assets

Syaiful :
3. What products does ChipShop Finance have and in the future, will you add more products?

The King :
Currently the Chipshop protocol allows you to earn CHIPS by staking in the Deep Fat Fryer (boardroom) OR providing liquidity (LP) to earn FISH shares.

We have some interesting use cases coming up. Our first will be an NFT marketplace where CHIPS tokens are the medium of exchange.

Remember our project is still early.

We want our use cases to actually be useful to the Chipshop community. We likely have some more news about this is the coming weeks.

Our main goal is real world use cases and making sure our investors keep getting paid every 6 hours!

Syaiful :
4. How do you solve liquidity issues and how to ensure user asset security?

The King :
We’re looking to partner with some large yield farms in the VERY near future to increase liquidity and have also just lined up a few single stake CHIPS pools that will be released soon!

We’ve had one audit already and are currently being audited by Obelisk team as we speak! I dont think you can be too careful in this space

Syaiful :
5. Have you met all your goals in the roadmap till now? And were there any difficulties that you didn’t expect and were not prepared for?

The King :
Our first goal was EPOCH 50 and we’re about to pass EPOCH 100.

Not many algo projects have made it to EPOCH 100 so thats a huge milestone for us today!

I think the bear market was something we couldnt really prepare for

the reduction of funds into BSC

BUT

We’re confident we can ride the next wave of big investment

and outlast lots of other short term projects

QUESTION FROM TWITTER

Syaiful :
Q1.Covid-19 has a bad impact in almost every sector. So, as a crypto projects how did it affect you? How you and your team have done the work in the pandemic?

The King :
Our project has one been live since early June so covid hasn’t affected us. Plus our team is worldwide, so that also mitigates risk

Syaiful :
Q2..1-Increasing Token price
2- make Token Valuable
3-Building Community Trust.

From 3 aspects above,. I want to ask,. Which one the most important for you??
If all above are important for you,. Which one that Will you do first??

The King :
The most important thing for us is a STABLE token price

which will allow the Chipshop printer to keep rewarding $$$$$$ to people who hold FISH

The King :
The more stable CHIPS is vs ETH, the more the project will succeed

Syaiful :
Q3.what is your project vision and mission? why did you name your project with the name ChipShop? is there a story behind that name?

The King :
Our mission is to get $CHIPS tokens accepted as usable currency.

The only reason USD is the accepted currency, is because everyone uses it.

Maybe in the future you’ll be able to pay for your starbucks with $CHIPS from the Chipshop!

Syaiful :
Q4.I read that ChipShop is a three token protocol, can you tell us more about this? Why did you decide to make CF as a three token protocol? What advantages will this bring to the development of the platform and to it’s users?

The King :
CHIPS: the algorithmic stablecoin which is pegged to BETH.

FISH (Share): the share which holders can use to claim CHIPS when you stake the shares in the deep fat fryer

MPEAS(Bond): the Mushy Pea bond which can be purchased when the network is in contraction and can be redeemed for CHIPS when the price is back above 1 ETH

Syaiful :
Q5.Upon reading i came to know that chipshop has 3 tokens $CHIP $FISH and $MPEAS. Can you explain what is the need of 3 tokens in the chipshop ecosystem? Which is the native tokens and what are their utilities and basic differences?

The King :
I’ve kind of already answered that one above.

But think about it like this.

CHIPS is the reward you get paid for buying and holding FISH shares.

MPEAS are purchased when below peg to stop any drop in CHIPS price.

All 3 tokens work together in this perfectly designed system.

But if you want to make money now?

buy CHIPS and pair with BUSD/BNB

then buy FISH and put in the deep fat fryer

LIVE/ FREE QUESTION

Q1. What’s the unique side of #ChipShop project that can not be found in other project that has been released so far?

The King :

We have a unique mechanism called the Chipswap! This allows our investors to swap their CHIPS to FISH shares and cash out, which keeps the peg and the project alive

Q2. Besides AMA What other marketing strategies do you have to implement to help with project development and growth?

The King :

We are creating lots of new partnerships with projects bigger than ours. The best marketing is to use other peoples audience!

Q3. When will FISH be available in the ChipSwap?

Can you tell me what happens to the reward pools when the Deep Fat Fryer opens?

The King :

You can buy FISH immediately! But hurry! There are only 440 available to buThe King :y!

When you stake your FISH in the deep fat fryer, you earn CHIPS rewards every 6 hours!

Q4 .What are the main differences between the $CHIPS token and other currently released tokens? How do $CHIPS token holders and users get passive income??

The King :

You can get passive income from $CHIPS by pairing with BNB or BUSD and staking in our pools. Your money is available at any time and there is no lockup

Q5. If Chipshop promote its new stablecoin pegged to ETH, how would your algostablecoin prevent the volatility price of $ETH?

The King :

Our goal is to keep increasing use cases for CHIPS, which encourages people to buy it!

 

 

 

For more information and future AMA, join our Social Media channels:

Cryptoscreen EN
Cryptoscreen PH
Cryptoscreen ID
Cryptoscreen Announcement
Cryptoscreen Twitter

More information about Chipshop Finance

Website

Twitter 

Medium 

Telegram 

github

Feedback

 

Leave a Reply

Your email address will not be published. Required fields are marked *