Chimpzee, a decentralized blockchain platform designed to enable digital asset exchange, is set to launch its native utility token CHMPZ on one of the world’s leading exchanges, the P2B Exchange, on June 30, 2021. On launch day, the exchange will open trading of CHMPZ against the US dollar and Bitcoin. According torenowned crypto investor and Chimpzee’s global ambassador, Brian Kelly, 2 billion CHMPZ tokens will be minted on launch day, of which 500 million will be reserved for Chimpzee’s team members, early investors and platform promoters, and the remaining tokens will be available on the P2B Exchange.
In addition, Chimpzee has also announced that it will be undertaking a token burn event in order to further reduce the overall supply of CHMPZ tokens. The burn will be equal to the 2 billion CHMPZ tokens initially minted and will take place 12 months after the launch. This will effectively reduce the total amount of CHMPZ tokens in circulation to 0, meaning that the P2B Exchange will become the sole marketplace for CHMPZ tokens.
Commenting on the token launch and burn event, Khalil Fallah, the CEO of Chimpzee stated, “We are thrilled to be able to launch our native CHMPZ token on one of the world’s leading exchanges. As we look to kick-start our journey in the crypto space, we believe that introducing the CHMPZ token on the P2B Exchange provides us with the perfect platform to enable digital asset exchange in a safe and convenient manner.”
He added, “The token burn event is another significant step on our mission and will enable us to further reduce the total supply of CHMPZ tokens, creating a more valuable digital asset for all our stakeholders. With the continuous development of our platform alongside our launch on the P2B Exchange, we hope to make a meaningful contribution to the cryptocurrency industry.”
The launch of Chimpzee’s native token comes at a time when the cryptocurrency industry is experiencing exponential growth. With the increasing demand for cryptocurrencies and the rising need for secure digital asset exchange platforms, Chimpzee is well-poised to become the go-to platform for digital asset trading.
Furthermore, with the addition of the token burn event, the CHMPZ token is expected to become increasingly valuable and desirable in the near future, thereby promoting widespread adoption of the platform.