30 Jun Chains: The Complete Ecosystem Guide
Cryptocurrencies have come a long way in the past couple of years and have cemented their place as useful financial instruments people can utilize for various purposes.
However, there’s still a long way to go for them to become a mainstream instrument, regardless of the application.
This is where platforms like Chains come into the picture – a fully-fledged ecosystem where users can ear, trade, and invest – all under the same roof.
What is the Chains Platform?
The team behind Chains is working to deliver a stack of simple and interconnected products with the sole purpose of making cryptocurrencies and NFTs a lot more accessible to the new generation of users.
The company develops products that work in concert, naturally, and seamlessly. They are designed and intended to enable users to earn, invest, and also spend cryptocurrency on different services and products across multiple chains – all via a single platform. The main purpose is to reduce the burden of having to learn the mechanics of the otherwise complex underlying technology as much as possible.
From a token launchpad to market research resources and a unified marketplace for NFTs, products, and services, Chains has quite a bit to offer.
Some of the services that Chains plans to tap and offer include, but are not limited to:
Single-account Earn – Invest – Spend experience
NFT and Products Marketplace
According to the official website, the platform has already seen a whopping 500,000 pre-registered users, and it aims to facilitate the setup of the accounts in a way that allows users to quickly and easily connect with the products deployed on the platform.
The Chains Launchpad is built from the ground up – it’s a token sale platform designed to support both native and external payment gateways, various vesting mechanisms, and a multitude of blockchains.
In terms of features, some of the key ones include:
Accepting multiple cryptocurrencies, as well as Visa, Mastercard, and Coinbase.
Integration with the platform’s account system.
Clean and user-friendly design.
Compliance with KYC and SEC 506c requirements.
Custom vesting schedules.
Mechanisms for presales and whitelisting
Mechanisms for introducing bonding curves, tranches, and fixed pricing.
The main idea of the marketplace is to allow businesses to pay for both services and products using the cryptocurrency of their choosing. Meanwhile, service providers can define the types of services that they are willing to accept.
The in-built native support of dynamic payment and pricing methods means that transactions can be settled in any currency that the parties have agreed upon.
Unlike existing solutions, businesses and service providers (e.g., freelancers) will be eligible for participation in a program that provides Earned Income Credits. The main benefit for the participants in this program is that it would help them in getting through in numerous shock scenarios while also increasing the long-term retention of users.
What is the Omni-Currency Parametric Matching?
All payments on the Chains Marketplace can be executed with multiple payment methods. As mentioned above, the settlement currency depends on the individual agreement between the parties who participate in the transaction.
When someone makes an offer for a service or a product, they can specify the price in multiple currencies and also predefine discounts and premiums. The platform would then match buyers and sellers based on their payment preferences. These can include certain parameters such as (but are not limited to):
Listing on certain exchanges
The team is working on a fully-functional cryptocurrency exchange platform. It’s designed and structured in a way that will make it accessible to users from permitted jurisdictions. Those who take part in the Marketplace or in token sales in the Launchpad will also be able to benefit from using the integrated Exchange.
The main purpose is to allow users to transact seamlessly and navigate between buying tokens on the Launchpad while also being able to spend and earn crypto on the marketplace.
The ultimate goal is to make the transition from earning or spending crypto on the Marketplace to potentially trading on the exchange as simple and as seamless as possible.
It’s also worth noting that the exchange will inject further utility into the platform’s native cryptocurrency – the CHA token – by allowing CHA holders to enjoy reduced fees and potential staking opportunities.
Chains Prism provides pricing data for cryptocurrencies, comedies, and equities and is designed to deliver analytical and portfolio tracking tools for Chains platform users. The goal is to reduce the need for third-party tools as much as possible and provide an encompassing cryptocurrency experience under one roof.
The primary purpose of Prism is to enable users to monitor the historical performance of assets while also providing a more basic functionality like CoinMarketCap.
The CHA Token
CHA is the native cryptocurrency of the Chains ecosystem. It has the following token distribution:
CHA tokens are designed to provide users with utilities such as:
Stake-based participation in the Launchpad
Stake-based discount on trading fees
Free discounts when using CA as a payment method
Access to EIC (see: Marketplace)
Discounts on Launchpad token sales
It’s important to note that users will be able to participate in the token sale and buy CHA exclusively through a launchpad on Chains.
The presale will take place on June 29th. Token prices will start at $0.0104 and will increase until all 18,000,000 tokens are sold. The payment methods include BTC, ETH, BNB, TRON, MATIC, USDT, USDC, DAI, Visa, Mastercard, and Coinbase.
Full information about the presale event can be found here.
The Team Behind Chains
The team behind Chains consists of experts in various field and segments necessary for the full-fledged range of tools delivered by the platform.
Anderson Mccutcheon – Founder and CEO. Formerly co-Founder of Unicoin and Synereo, as well the Head of EU Player Acquisition at online gaming behemoth Riot Games. Previously, Anderson held senior roles for 888 Holdings and PokerStars (Flutter Entertainment).
Yosi Megrel – CPO. Megrel is the Chief Product Officer at Chains, and he has plenty of experience in the field of blockchain product design, being the founder and CEO of TrustBlock. He also has experience in markets and finance as the former Director of Trading at GM Media Group and also has worked as a Foreign Exchange Dealer.
Dr. Assaf Patir – Economist. Assaf holds a Ph.D. from Northwestern in Economics and a Ph.D. in Physics from the Weitzmann Institute of Science.
Artur Babyuk – CTO. With over 10 years of experience in software development, Artur Babyuk is the Chief Technical Officer of Chains. Previous experiences include working at Dynatech in Latvia as a Solutions Architect, DevOps Engineer, and R&D.
Sarne Lightman – Executive Chairman. He is also the co-founder of TradeOff Financial Corp and the Global Head of GG Poker. Lightman is the Executive Chairman of Coinomy.
In conclusion, Chains looks like a project with an exciting value proposition and a solution for multiple problems currently riddling the cryptocurrency industry. The approach to unite a significant instrument suite under a single roof is appealing and user-friendly, especially for people without considerable experience in the otherwise challenging field of cryptocurrencies.
Most of the products, however, are still under development, so it’s interesting to see how they will shape up once delivered and usable.
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