CHEX

One of the projects I have been interested in is the CHEX token from the Chintai company. This token was auctioned off over a few months in 2019 and can now be traded and swapped on various EOS exchanges and DeFi platforms. The CHEX token will form the base unit for the Chintai platform and holders will be able to stake to a collateral pool and receive CHEX tokens just for holding. 1 Billion coins were minted and no more can be created.

Supply Allocation ● 60% was distributed in a 240-day KYC auction (certain geographic regions including the U.S and China, and countries with international sanctions were excluded) ● 20% distributed to founders, vesting over a 2 year period 2019-2021 ● 10% reserved for bug bounties and project advisors. Project advisors will be subject to the same 2 year vesting schedule as founders ● 10% reserved for strategic affiliate partners and to encourage investment into Chintai ecosystem development, particularly the Merchant Network

Chintai, based out of Singapore, launched the first decentralized finance (DeFi) exchange for leasing token utility in October 2018, enabling unused EOS token utility to be leased for income.
EOS CPU leasing market(s) quickly grew in late 2018 and early 2019. At its peak,the Chintai market size was more than 20m+ EOS and preempted the REX leasing facility on EOS. Once REX was implemented and released, the company had to change its focus and it’s platform development is now to be used as a digital asset marketplace and its CHARM (Chintai Automated Resource Management) is the current progression of this technology.

CHEX tokens have multiple utility features designed to give holders security controls, reduce fees, and provide opportunities for rewards.
CHEX will also have a leasing market as more demand arises for CHEX utility and a staking facility will allow holders to access rewards through a smart-matching protocol.

Stake - Collateral Pool CHEX holders will have the option to stake their tokens to the collateral pool for high risk-high reward opportunities. The collateral pool will decouple the risks normally associated with offering loans using other tokens. For example, users of Chintai will be able to lend their tokens to margin trading pools, and will receive fees from margin traders for doing so. Usually, this involves an element of risk, because it is possible that the margin trader can not fully pay back the borrowed liquidity. We can remove this risk for the margin pool lenders by shifting it to a special collateral pool consisting of CHEX token holders. In the case of a margin trade causing a default, the lost funds will be taken from the CHEX collateral pool. The incentive to add your tokens to the CHEX collateral pool is the high reward that would be received from margin fees. A fraction of the fees from every margin pool would be converted to CHEX and paid as rewards to the CHEX holders who take the collateral risk.

Why CHEX

I am drawn to the potential passive income that this project could provide. The technology that will provide token leasing options for a variety of tokens makes this project an exciting prospect. It currently sit at around 8c per token and the projects BETA release is scheduled for June of this year. There are also plans to create some additional trading pairs against BTC and possible other DeFi markets as well.

The project is aimed at providing opportunities for companies to create and float their own tokens and use the CHEX token to lease resources.

Information from their whitepaper (https://chintai.io/chintai-tokenomic-model.pdf) shows how staking to the collateral pool will work.

I aped in early during the Dutch Auction distribution that occurred and hold a stake. Now just waiting for the BETA to be released for the potential of this token to be realised.

Thanks for reading.

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