Coinchum - A Peer to Peer marketplace with various cryptocurrency offerings that enables users to learn from education resources, as well as trade cryptocurrencies using advanced market tools.

gold25 (30)in #coinchum • 3 years ago (edited)

With the rise of Bitcoin in 2009, blockchain technology started to get attraction of people. Gradually lots of people started trusting and using this technology. As such lots of new cryptocurrencies and projects emerged on blockchain technology and now a days we can see everyday there are lots of new projects with their unique concept are knocking the door in crypto world. One thing is assured that blockchain has proved its worth that this technology is game changing one and is the future. The decentralized ecosystem created by blockchain technology has kicked out third parties from the equation and now the users can operate worldwide anonymously with fast speed & very low cost. The whole process is very much transparent and once the transaction is excited, it is always available in a distributed ledger for its authentication and everyone cam see the data so there is no chance of data changing or manipulation.

Though the technology is growing rapidly and more & more people are accepting it, the big flaw is that yet lots of people are not aware of blockchain and its potential. That makes the worst case when people are interested to join and do transactions but they have no banking support. Really we need such a platform that can take the initiative to guide and educate the people to use the technology in their daily life without any third party involvement or banking problems.

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What is Coinchum?

Coinchum is a Peer to Peer marketplace with various cryptocurrency offerings, including Bitcoin, USDT, and Ethereum, XRP and the Chum token. This platform is created with a sound vision to educate the users regarding the latest trends and sentiments of the market so that they can book good trades. This platform is allowing fast transactions with very low fees so the users of the platform can operate frequently and get fast trades even when there is congestion in the market. This platform runs on BSC network so it is more flexible and providing high scalability.

Asset Management

The users of the platform can trade according to the data and information provided by the platform and also there is an option the users of the platform can upload their informative videos on the platform to guide and help the community to act according to the current situation of the market. So this platform is an innovative platform that is having a upper hand on the prevailing dull system where the users are getting no support and information as such in this prevailing obsolete p2p marketplace users are not able to react on time as there is no indication regarding market trends and also when there is sudden changes in the market, the users are not able to get fast trades to manage their assets. Also they are forced to pay heavy fees and then they are forced to wait for longer time for the confirmation of the transactions on the blockchain. As contrary to these existing platforms. Coinchum platform is fast & secure platform that is providing much transparency and data immutability.

Community Oriented Platform

Another flaw with current p2p market is that users are not getting much options to trade and swap their Crypto assets as there are limited cryptocurrencies to trade with and Also these platforms are not bothering to add the new cryptocurrencies as per the community demand. To cope up this flaw, CoinChum platform has governance system where the community of the platform can vote to add the new assets to get more trading/swapping options. That means the users of the platform are stake holders and can take part in decision making programs. This platform acts as a social media platform and the users of the platform can interact socially with each other and can share their ideas. The latest data and useful information is regularly update on the platform that will guide and educate the new users to take right decisions on right time to earn even when there is dump in the market.

24/7 support system

Coinchum platform is challenging the support system of prevailing p2p market where the users are not getting good response on time. They have to wait for longer time and are forced to create multiple tickets. Many times there is no response from the support and the users are not able to get best clarification and way out for their problems. The experienced and well educated project team of CoinChum platform knows the importance of support system for the rapid growth and to earn trust of the end users of the platform. So this platform has one of the best support system where the problems and inquiries are solved immediately and 24/7 support is always ready to help and guide the community. Users can get Fast reply from online chat. The support system is always ready to provide Fast resolution for login / account issues & Fast processing of withdrawals.

LPF and SPAC business model

The project team has come up with an in innovative business model. It is observed that due to pandemic it is really hard to conduct physical meetings and seminars to make project trendy in the market. Coinchum Company will consider using part of funds from crowd funding to set up a LPF (Limited Partnership Fund) and register for SPAC (special purpose acquisition company) after it is launched around the end of 2021 in Hong Kong. This will generate traffic on the platform and more investors will join. That will help the platform to generate more revenue through an initial public offering (IPO). The primary goal of a SPAC is simply to raise capital and then use that cash to acquire an existing private company that shows significant promise and is looking to go public.

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A part of fund generated from LPF and SPAC listing will be used to buy back CHUM tokens. That will generate more liquidity and as such the price will rise. That will be a good condition form early adorers as now they can get more value for their initial investment in CHUM token and can multiple their portfolios. In this way CoinChum is creating a best exit policy for investors of the platform. When the Hong Kong SPAC is up for registration, the Company will transfer LPF’s remaining assets to SPAC after the latter’s IPO listing.

Multi signature wallet

This platform is giving special attention for users’ fund security. Since the prevailing system is supporting single key wallets and it is noticed that the security level of these single key wallets is very low and lots of incidence are there where the users have lost their hard earned money because of low security standard of the wallets. To cope up this flaw and to provide best fund security to the users of the platform, Coinchum ecosystem has created multi signature wallets. Multi-signature wallets have become the standard for institutions managing cryptocurrencies as they enhance the security of assets over single key wallets. Recently, new cryptographic breakthroughs in Multi-Party Computation (MPC) are ushering in a new generation of key management. Coinchum’s wallet security is protected via MPC which is cryptographically secured and protects the wallet from any human error or cyber-attack. Security to a wallet address is necessary as many individuals and institutions are entering this ecosystem.

CHUM Token

CHUM is the symbol of native and governance token of the platform. All the applications and protocols of the platform run smoothly as they are backed and insured by CHUM token. This token has its real use case on the platform. The holders of this token are the stake holders of the platform and can earn good internet by staking their tokens. Being a governance token it allows its holders to vote and support the platform to decide good plans and strategies for the rapid growth of the platform. The holders of CHUM token can decide which new crypto assets to be added to make platform more attractive and to generate more liquidity on the platform. The holders of CHUM token can access all the applications & protocols of the platform with various fee concessions on the platform. Also Trading fees can be paid with CHUM, at a discount to as much as 50% to normal trading and withdrawal rates.
CoinChum maintains a total issuance volume of 200 million. After buy-back disposal, it will be a constant - 100 million.

Tokenomics

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RoadMap

Coinchum project is led by a hardworking team that has lots of experience and knowledge to handle the project and step by step make it to go to moon. The team has worked out lots of plans and strategies for the smooth & systematic growth of the platform. The community is well involved and has right to vote and helping the team to select best strategies for the rapid growth and mass adoption of the platform. This project has gathered many like minded people who are working all the time for the development of the project since with the growth of the project everyone joined on the platform will gain.
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Outcome

Coinchum platform is an innovative platform that has tak the initiative to challenge and cope up the existing system where the users are always forced to suffer. The market is highly volatile and much sophisticated. To survive in this ever changing market, Coinchum platform is providing latest and necessary information on the platform regularly. The project team is always ready and educating the people to use the technology and latest market tools for conducting best trades on the platform. This platform is having best AMM protocol and providing the best current price of the assets to trade on the platform. The smart contracts of the platform are able to collect useful data and information from the different reliable sourced and then by processing this collected data/information the system is able to give a good output regarding the asset price and also the market trends and sentiments for the current and future growth of the asset. That will help the community to take decision according to the market situation and then book good trade to yield more revenue. Coinchum platform is a fast and secure platform that is helping the community to hold and trade their crypto assets in multi signature wallets. That will provide extra layer of security and the users of the platform can relax mentally and do frequent trades on the platform without any fear of manipulation or hacking. Coinchum is powered by BSC network so it is providing more flexibility and users of the platform are always enjoying fast transactions with very low cost. This platform has lots of potential and the best thing is that the early adopters of the platform are getting much importance and all the chance to multiple their initial investments and the project vision is to conduct various buy backs from the revenue generated on the platform. That will raise the price and also attract more and more investors to join the platform. That will increase the demand and further with moré demand, the price will rise rapidly and the early adopters are always in gain on this platform.