Chimpzee ($CHMPZ)’s newly launched staking module has become a rage in a short span of time. With up to 40% rewards up for grabs, it offers one of the most compelling passive income streams of 2024.
In this article, we will analyze the staking system and whether it can live up to the hype. At the time of writing, the total number of $CHMPZ tokens in staking stood at 3.7B.
💰 Discover the power of CHMPZ Staking!— Official Chimpzee Project (@RealChimpzee) January 24, 2024
📈 Get rewarded simply for holding onto your CHMPZ tokens. Stake your CHMPZ tokens and unlock potential earnings up to 40% APY.
How does it work?
1️⃣ Go to https://t.co/asCiJnvms1
2️⃣ Connect your wallet and decide on the amount of $CHMPZ… pic.twitter.com/2bMMzizvvL
Crypto Staking Rewards: What You Need to Know
Chimpzee completed its presale last month after receiving widespread attention from inside and outside the crypto community. Due to the underlying project’s mission to combat climate action through wildlife initiatives, Chimpzee has grabbed the eyes of eco-conscious communities who are new to the crypto market as well.
The project’s relevance beyond the crypto market underscores its large growth potential. By integrating blockchain and crypto use cases, Chimpzee aims to make climate action and wildlife conservation more popular and accessible. It uses crypto incentivization as a tool to encourage participation.
The ongoing staking mechanism is a part of the plan. By incentivizing the holding of the token, the project aims to maintain a stable price trajectory over time. Since there is an underlying ecosystem that supports the utility and demand of the token outside speculation, the staking system has a strong foundation.
Investors who hold and stake $CHMPZ tokens can earn up to 40% APY as shown below.
Another excellent means to earn staking rewards is Chimpzee NFT Passports, which can fetch up to 20% APY. The NFTs come with more perks and privileges like a high reward ratio in the Chimpzee ecosystem.
Anyone can join the staking system by holding $CHMPZ tokens. To buy $CHMPZ tokens, investors should head to the P2B exchange. The CHMPZ/USDT pair is now live on P2B. The token has its next listing on Bitmart coming soon. Strategic investors have been taking advantage of a low and profitable entry point into the token during the bear market.
The second step is to head to the Chimpzee staking module. The page has detailed descriptions of the staking process. Once you’ve staked your tokens, you will get an overview of the investment and passive income from the dashboard. It will give you a preview of the staked tokens and potential rewards.
A Platform with a Global Purpose
In the first look, Chimpzee is a meme coin. It embraces a half-ape, half-human theme that has rarely been explored in the meme coin market. But as discussed earlier, Chimpzee doesn’t confine itself to the meme coin tag or the staking utility.
It has more going on for it. The ambitious project aims to bring more energy to wildlife conservative initiatives through its three-pillared ecosystem.
The ecosystem features shop-to-earn, trade-to-earn, and play-to-earn platforms. Here is a quick look at how they work and give opportunities for rewards.
- The Shop-to-Earn merchandise store features branded items such as t-shirts and mugs adorned with slogans related to wildlife conservation and climate action.
- The Trade-to-Earn NFT marketplace works with a profit-sharing model that can benefit active traders immensely. Those with a passion for environmental missions, in particular, will find the platform beneficial.
- The Play-to-Earn game, called Zero Tolerance Game, allows users to earn $CHMPZ rewards through skillful gameplay. With the promise of crypto side income, the game inculcates a sense of environmental responsibility in players with a wildlife conservation theme.
All rewards within the ecosystem are distributed in $CHMPZ tokens. For example, like loyalty points, shoppers can earn $CHMPZ rewards with each purchase from the merchandise store.
Chimpzee NFT Passports have a potential to burn 🔥5 Billion CHMPZ🔥from the circulating supply in the event they sell out at launch!— Official Chimpzee Project (@RealChimpzee) January 23, 2024
This is another tool that can help further reduce the supply of the CHMPZ token and make it more scarce as well as provide holders with many… pic.twitter.com/JIsdFlct18
But unlike loyalty points, their utility is not limited to the native ecosystem. $CHMPZ can be sold on crypto exchanges for other cryptocurrencies or fiat currencies. Investors can also use the tokens within the Chimpzee ecosystem as payment for various products.
Verdict: Is it a Good Idea to Stake $CHMPZ Tokens?
Crypto staking programs can be extremely rewarding in the initial stages. But over time, they lose their appeal. With declining staking APYs and token prices, the staking rewards will amount to nothing. So it is important to analyze the utility and market relevance of a staking token.
For the same reason, the Chimpzee staking system looks robust. While the meme coin packaging of the token helps it garner the attention of speculative investors, it has large upside potential underpinned by its utility.
The Chimpzee ecosystem dedicated to wildlife conservation will bring CHMPZ to the mainstream with adoption across various initiatives. So far, $CHMPZ has worked with a series of environmental initiatives across the world and donated to various causes.