CHR is used as a “standard” currency within the Chromia economy, as dapps can collect it as fees, or use as reserves to peg their own tokens, etc.
CHR is used by dapps to pay hosting fees, thus compensating the nodes.
CHR is used to make sure that providers have a stake in the Chromia ecosystem thus offsetting incentives to collude.
Chromia has several special Chroma token accounts that are used for system-wide purposes, such as ERC20 token pegging, system node compensation pool, development pool, etc.
Auto Conversion Contract
The graph shows the number and breakdown of the CHR tokens that will be released into circulation on a monthly basis. The Advisors, Promotion Fund, Ecosystem Fund, and Conversion Contract tokens will continue to be distributed in 2025 and beyond.
One billion CHR tokens was created upon launch of the Chromia system. That constitutes the token supply limit, which means that no tokens will be created in the future. The following pie-chart illustrates the initial CHR token distribution.
Auto Conversion Contract3%
Currently, CHR is an ERC20 token. However, when the Chromia mainnet is launched, there will be a transition from an ERC20 token to a native one.
As stated in the white paper 1,000,000,000 CHR is the maximum number of CHR tokens that can ever be minted. However, the circulating supply got reduced after the burn of 22M CHR in May 2020.
We believe that CHR is the “bread and butter” of the Chromia platform. It has the following roles in Chromia:
To read more about the CHR token ecosystem in our whitepaper.
You can review the CHR token address at Etherscan: https://etherscan.io/token/0x8A2279d4A90B6fe1C4B30fa660cC9f926797bAA2
Disclaimer: The CHR token is designed as a utility token that can be used within the Chromia platform. The information provided on this website is solely for information purposes only and does not constitute investment advice whatsoever.