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Chromia (by ChromaWay) is a new blockchain platform for decentralized applications, conceived in response to the shortcomings of existing platforms and designed to enable a new generation of dapps to scale beyond what is currently possible. Chromia is both a blockchain and a relational database. This means that decentralized applications (dapps) can be written in a way that is familiar to developers all over the world, whether they work on large enterprise applications, games, or smaller projects.
Chroma is a metatoken native to Chromia. It serves as a medium for exchange and an economic balancing tool for dapps deployed on Chromia. It :
- Enables dapps to pay for system resource usage
- Enables resource conversion between dapps
- Enables smart contract automatic conversion
- liquidity and profit sharing
- Provides a mechanism for validator nodes to stake a security deposit for participation in the public network
Token Status and Distribution
One billion tokens will be created upon launch of the system. That constitutes the token supply limit, no tokens will be created in the future. Initial distribution of tokens:
- 70% owned by ChromaWay to be sold, awarded to team members, invested or used in any other way
- 3% put into an automatic conversion contract on Ethereum to enable Chroma<->ETH conversion
- 2% put into system node compensation pool
- 25% is allocated for promotional use: to be given to users to try dapps on Chromia.
Within the Chromaway allocation, % is sold initially to select partners. The rest will be locked and released slowly over time. Up to 17% will be unlocked during the first year after launch, then up to 12% per year.
ChromaWay and its subsidiaries will hold tokens for at least 3 years. This creates long-term incentive for Chromia development.
Afterwards, Chromia development and governance must transition to a decentralized model.
Promotional tokens will also be initially locked, and unlocked at a rate of 0.5% per month.
Thus percentage of tokens in circulation changes over time :
1. At start: up to 30%
2. After 1 year: up to 53%
3. After 2 years: up to 71%
4. After 3 years: up to 89%
5. After 4.5 years: 100%