Chair Finance Overview By Crypto Library

 

WHAT IS CHAIR

CHAIR is the world's first decentralized NFT trading platform for rights and benefits Art is over-represented in the current NFT industry. 90% of NFTs should be financial assets, digital identities and rights in the future. As the first DEX for utility NFTs, Chair has set a precedent for exploration in this field.

NFT minting

Users will be able to customize NFTs on CHAIR with only a few simple steps. This will significantly simplify the procedures.

Trade and auction NFTs with price limit order

Decentralized trading with price limit order. Users can participate in trading to start mining BNCH, or participate in auction to start mining BNCH. This design will greatly boost the circulation of NFTs.

Mining

Chair provides multiple mining products, such as dual-token liquidity mining and trade mining.

NFT DeFi

NFT collateral loan, NFT PoS mining.

CHAIR Token Design

CHAIR’s platform token is BNCH. Its issuance is 70 million. As the platform utility token, BNCH holders are entitled to in-depth participation in the governance and future development of the CHAIR platform. BNCH can also be used toward the purchase of commodities and services on the CHAIR platform. All BNCH holders are entitled to share the revenue generated from CHAIR's development.

We have decided that there will be no private placement for CHAIR’s platform tokens BNCH. All BNCH will be distributed to CHAIR backers by NFT purchases.

The first batch of utility NFTs for sale:

Total sale amount 2.1 million tokens, accounting for 3% of the total BNCH amount. The first batch is divided into two rounds: Total sale amount of the first round is 1.4 million tokens, accounting for 2%; Total sale amount of the second round is 0.7 million tokens, accounting for 1%. Priority to airdrop(s),Priority to platform governance, development and voting rights.

The second batch of utility NFTs for sale:

Total sale amount 7 million tokens, accounting for 10% of the total BNCH amount. Each NFT represents the corresponding tokenized rights and benefits proportional to the USDT amount paid. These 7 million BNCH tokens are to be released evenly over  5 quarters. Priority to airdrop(s),Priority to platform governance, development and voting rights.

For the developer:

7 million BNCH tokens, accounting for 10% of the total BNCH amount. These 7 million tokens will be released evenly over 14 quarters.

CHAIR Project Roadmap

  • October 2020

Project planning, white paper drafting, and business model design.

  • April 2021

Complete White Paper 1.0, launch decentralized NFT trading system 1.0 to provide NFT minting, trading, and auctioning. Tokenize CHAIR token BNCH.

  • June 2021

IPFS decentralized storage. Complete decentralized NFT trading system 2.0 with new mining products. Add more varieties of tokenized utility NFTs.

  • August 2021

List CHAIR on at least one major exchange or decentralized exchange.

  • December 2021

Improve core platform features, including more DeFi features such as collateral loan. List CHAIR on multiple exchanges; White Paper 2.0.

  • April 2022

Increased token distribution. Finalize community DAO self-governance.

Postscript


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