ChainGPT ($CGPT) is an artificial intelligence large language model chatbot built specially for Blockchain, Web3, and crypto. Its goal is to build the infrastructure for Web3 to enable mass adoption. For developers working in the Web3 space, ChainGPT is an all-in-one solution to speed up development.
The chainGPT Launchpad
The ChainGPT Launchpad is a platform that connects the $CGPT community to startups in the Web3 ecosystem. It is as an IDO platform and incubator for projects in Web3 looking to launch their projects.
The projects send an application during which they undergo a rigorous screening process. If they pass the screening process, they join the incubation phase, where mentors guide them to the IDO stage.
Incubation can last up to one and a half years, which includes post-launch support. Projects with an experienced team qualify for the accelerated program. The program lasts for 3-4 months.
The IDO Process
The initial Dex Offering (IDO) entails launching a campaign to raise awareness regarding an upcoming launch. When all the specific details have been finalized, the project is listed with a countdown timer. All IDO listings come in two rounds.
In round 1, the Guaranteed Allocation, top staking tier groups can participate. All participants have to register for this round. The second round is the First Come, First served round. In this round, anyone can participate. When the IDO reaches its maximum cap, it is immediately stops, and there will be no more rounds.
The $CGPT Token
The ChainGPT Token ($CGPT) is the utility token of the ChainGPT ecosystem. It stores and transmits value within the ecosystem. Additionally, users pay fees for on-chain interactions using the tokens. To access all the ChainGPT AI applications, users need to hold $CGPT tokens.
The demand for the ChainGPT AI model is closely tied to the demand for $CGPT tokens. The team is also working to grow the interactions and vectors that transmute value via CGPT tokens. Besides its utility role, the tokens offer numerous benefits to users.
Benefits of Holding CGPT Tokens
One benefit of holding CGPT tokens is participating in the DAO. The community controls the entirety of ChainGT via a decentralized proposal and voting mechanism. Another benefit of holding the tokens is unlocking benefits accessible via the ChainGP Pad. It grants holders access to top-tier projects by giving them priority access. Tier qualification is determined by the number of staked tokens and how long they have been staked.
CGPT Tokenomics
The total supply of ChainGPT Tokens is 1 billion CGPT. They run on BSC and Ethereum as BEP20 and ERC20 tokens, respectively. CGPT is based on a deflationary economic model with a variable burn rate. They currently have a circulating supply of 272,761,952 CGPT, around 27% of the total supply. Thus far, 1,349,054 CGPT tokens have been burned.
Token Price Performance
CGPT tokens have a price of $0.06057 as of November 18, 2023. In the past 24 hours, the tokens have had a great run, and their price has grown by 10.92%. The tokens have been rallying for the past 30 days, with their value rising by 48.77%. However, the tokens are still 81.32% below their all-time high price of $0.3059, achieved on April 10, 2023.
The tokens achieved the ATH just two days after the conclusion of their ICO. Their price crashed to an all-time low of $0.008 on the same day. CGPT tokens are currently trading at +614.19%, the value of their all-time low.
Should You Buy CGPT Tokens?
Thus far, CGPT has positively correlated to the price of BTC. With the price of Bitcoin projected to continue rising until the April 20224 halving event, the price of CGPT tokens will keep rising. Additionally, the ChainGPT ecosystem is based on a solid value proposition. As such, if it gains enough popularity, it could become an important platform in the development of Web3. Adding CGPT tokens to your portfolio might have some positive outcomes in the short term.
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