There is a total supply of 21 million CHIPS, and with the short 10-second block times the bulk of supply was mined in the early days. As a Bitcoin fork, these block times were shortened, repurposed for in-game functioning. Particularly, it was repurposed to execute the transactions that occur to create blocks of real-time poker hands with Pangea.
CHIPS is meant to be used in the Pangea Poker game (& other eventual games) so it was considered important that the supply already be circulating rather than yet-to-be-mined. In order to solve the problem of difficulty stranding, CHIPS is also now using the aPOW (adaptive proof-of-work) tech developed through Komodo Platform, in addition to the dPOW (delayed proof-of-work) already in place for CHIPS chain security.
Distribution by previous miners, “whales” and other interested parties is also important in order to create enough movement of CHIPS within markets, for volume & liquidity, as well as reaching enough hands to create network effect value. This value is certainly only increased if CHIPS Pangea Poker is being played by plenty of players. So the simple act of distribution alone will not harm the current holders, on the contrary it will inevitably boost the entire network and its total value.
Recently jl777 decided to set the example to the community by calling out a 1000 ARRR auction for CHIPS. This was the first step in getting the CHIPS to flow, while Pangea Poker developers continue working to get us closer to the public testing stage.
True to form the Komodo community has stepped up to engage in the play. AtomicDEX, DogeDEX, and other branded or forked desktop DEX that is synced allows a compatible coin to find its place, to find liquidity. CHIPS is now actively traded across several pairs, and active prices can be called up across all pairs using the bot in Discord (credit Sclear!).
Volume is building and price is still being discovered, while the coordination of the community to quickly & vibrantly participate in this exchanging hints at the potential of CHIPS once Pangea Poker is really live and being played.
Finally, the winner of the original auction has been announced, congratulations!
In the bigger picture this auction initiated by jl777 caused another energetic stirring that further unites and bonds the greater Komodo family to a common cause, this time through the incredibly revolutionary gaming solution CHIPS.
For more details about liquidity or other stats you can view the websites https://dexstats.info/liquidity.php , https://chips.explorer.dexstats.info/ , and https://dexplorer.io/. At the time of writing this blog CHIPS has the top DEX volume with the dexplorer stats:
Join the future and participate in CHIPS Pangea virtual poker evolution!