Chihiro Inu is a blockchain-based cryptocurrency that offers the next-generation GameFi ecosystem. The platform has created a decentralized autonomous organization (DAO) merging blockchain technology with its GameFI ecosystem. The network’s NFT technology allows gamers to make their in-game objects unique and give them properties that offer real value. Players can exchange and trade these items with other players in its in-house built NFT marketplace. The asset seeks to create its own game franchise named 'Portal of Destiny (POD)' and is leveraging partnerships, VR (virtual reality) technology, and eventually moving its gaming franchise onto its own unique metaverse.
As per its whitepaper, the platform observed the lack of good game graphics and mechanics as well as game economics that offers players ownership of the assets they acquire through gameplay. The network also noticed that gamers have no say in the gaming policies, and the company behind the game makes all the decisions. Hence, Chihiro Inu aims to introduce a modern take on P2E (play-to-earn) gaming by introducing in-house developed DAO and blockchain technology such as NFTs. The network seeks to give players more control over the development paths of games and allow players to gain ownership through their assets.
Chihiro Inu developed a launchpad to bring value of traders and attract valuable projects. This launchpad aims to be a one-stop place for game launches and projects, benefiting both developers and financiers. Developers seek to be benefited from its existing custom-built contracts and pre-built services such as NFT marketplaces. However, traders can expect to get early access to launchpad features and projects. The platform also allows users to vote on proposals and create new governance proposals using it's DAO.
CHIRO is a token on Ethereum and Matic networks. The platform has burned 12 percent of the total supply initially. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burnt to reduce availability and increase market value. The taxations imposed a 10 percent% tax on trade on decentralized exchanges of Chihiro Inu. This taxation goes to marketing (5 percent), development (2 percent), liquidity (2 percent), and redistribution (1 percent). Additionally, 1 percent of redistribution tax is burned with each transaction. Therefore, this introduces a deflationary token model where the supply is going to be scarcer. Deflationary tokens are digital coins designed to reduce overall supply over time.
