Chedda is a utility token that provides its holders access to exclusive community experiences. According to the whitepaper of the project, the Chedda token is a first-of-its-kind utility token that relates to culture. Chedda token is decentralized, and is created on the Ethereumblockchain. The Chedda token is based on ERC-20 token standards. The protocol chose Ethereum blockchain to guarantee the integrity and traceability of the cryptocurrency. Ethereum blockchain is secured by thousands of nodes running worldwide, which makes Ethereum a secure blockchain. 

CHEDDA is the native cryptocurrency of the Chedda protocol. CHEDDA claims to benefit the holders of the token in many ways. As per its whitepaper, CHEDDA token provides an event named ‘Get-to-Getha’s.’ Get-to-Getha’s are fun and free opportunities provided to the holders of the CHEDDA token to meet and hang out with other CHEDDA wallet holders. To access this opportunity, there is a simple requirement that a user must have an active CHEDDA wallet. 

Further, the holders of CHEDDA tokens also get special access to CHEDDA non-fungible tokens (NFT) drops. The NFT royalties intend to pay for such CHEDDA events happening around time. The protocol also organizes CHEDDA culture conferences where wallet holders intend to be air-dropped with NFT tickets to special events. Such special events seek to have speakers, DJs, influencers, and various athletes. Further, the protocol supports staking and yield farming.

Chedda is also a deflationary token. This means that the Chedda tokens are burned with every transaction. Burning half of the token supply and one percent of every transaction intends to decrease the total supply of Chedda tokens over time. Cryptocurrency burning is when a fraction of tokens is sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burnt to reduce availability and increase the market value. The total supply of CHEDDA is a hundred billion.

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