Chimpzee’s CHMPZ token is interesting for crypto users due to its approach to combining climate fights with financial benefits for its community.
The project has different passive income opportunities, including staking CHMPZ tokens and NFT Passports, and also rewards given to users when they carry out activities on the platform.
All of this can drive the token price up. Let’s look at how these work.
How Staking Can Cause 100x Spike for CHMPZ
Staking CHMPZ tokens is expected to generate an income of up to 40% per year, while NFT Passport staking could generate up to 20%.
This way, investors make money while contributing to the planet’s well-being.
Staking automatically reduces the circulating supply of CHMPZ tokens, which could make fewer tokens available to a growing community. Reduced supply could potentially propel the price up.
The incentives that come with staking could also encourage users to hold their tokens for a longer period, reducing selling pressure.
Locking a certain amount of CHMPZ tokens to validate transactions in a network makes it more costly for bad actors to attack. Tight security protects an ecosystem and also imputes more confidence in users.
With staking, the distribution of power within the network becomes more balanced, leading to a more stable and trustworthy ecosystem.
How to Stake CHMPZ tokens – Full Guide
To stake a CHMPZ token, you must have an Ethereum network wallet.
Afterward, you can proceed to enter the amount of CHMPZ tokens you want to stake or click “MAX” to stake all CHMPZ tokens in their wallet.
Once you enter the desired amount, you should click the “Stake” button to proceed.
The next step is to approve the spending cap request amount in your wallet. After approving the tokens, you will need to confirm the transaction on the blockchain. Click “Confirm” to process the transaction and pay the gas fee.
The process is pretty straightforward and is done in a few minutes.
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Once the transaction is confirmed, the CHMPZ tokens will appear in the “Locked CHMPZ” section.
After 5 days, the tokens will move to the “Current Staked” section, and you can then unstake and claim your rewards at any time.
You can also check when your CHMPZ tokens will be unlocked (following the presale) using the CHMPZ Locked timer.
Other Passive Income Opportunities Could Drive Growth
Earn Money by Shopping
Through their “Shop to Earn” program, users can buy products from the Chimpzee shop. Doing this helps them to get cool stuff while also earning CHMPZ coins, which is their way of paying users.
Participating in the Chimpzee shop shows users support for important causes like fighting climate change and animal cruelty. In addition to this, some of the profits made from the shop go toward charitable deeds. Therefore, users’ purchases are not only benefiting them but also impacting the environment.
Earn by Trading
Chimpzee’s “Trade to Earn,” lets users make money just by trading NFTs on their platform. The project is sharing a part of their trading fees with users, so they can earn just by buying and selling.The marketplace focuses on NFTs related to the environment, and they make sure all the projects are high-quality and original.
Earn by Playing:
Chimpzee’s “Zero Tolerance Game” is a fun way to earn CHMPZ coins while helping the environment.
Players can earn the coins just by playing the game, which adds an enjoyable element to earning passive income.
Users get to use their NFT passports and various avatars when playing the game. This helps them personalize their characters and gives them some form of advantage in the game.
Stopping poachers through the game is a way of creating a community that is environmentally aware, and this is expected to input environmentally conscious practices to users while they earn.
Some Other Bonuses
Chimpzee offers several bonuses, including a chance to win one of two prizes worth up to $10,000 USDT each.
The prizes are split up based on the tier of the NFT Passport, so diamond, gold, silver, and bronze passport holders all have their own prize pools. More so, any NFT Passport holder can win one of 20 prizes worth $250 USDT each.
All these incentives and passive income opportunities will keep the community growing and increase the demand and utility of CHMPZ tokens.
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