What is Chintai (CHEX) | What is Chintai token | What is CHEX token

What is Chintai (CHEX) | What is Chintai token | What is CHEX token

Similar to how a platform like YouTube offers the means for anyone to share custom videos, Chintai will provide tools for anyone to host their own custom DeFi products that use our infrastructure to create markets. The Chintai OMS can be easily configured to allow “Chintai Merchants” to build products that need market formation. What is Chintai (CHEX) | What is Chintai token | What is CHEX token

Suite of DeFi Services and Instruments

Chintai is a decentralized finance (DeFi) ecosystem for leasing, issuing, trading, and managing blockchain based digital assets. Our high-performance order management system (OMS) is fully on-chain and highly configurable, making it  easy to power any application that requires market formation for digital assets.

The near term roadmap includes launching a regulated DEX, additional token leasing markets, and other tools that help entrepreneurs easily leverage the advantages of blockchain technology. Chintai is planning to apply for licensure in Singapore (MAS). Licensure approval will enable regulatory compliant trading, issuance, and handling of tokenized securities and utility tokens.

Everything you need to know about Chintai in three minutes

Why is an OMS important?

Order management systems (OMS) enable efficient market formation, value exchange, and price discovery. Users specify the price they want to buy or sell a given asset, and those orders makeup an “order book”. Generally speaking the more orders in an order book the easier it is for people to buy and sell an asset in a given market. The more orders in a market, the more depth or liquidity it has. When a buy order matches a sell order the OMS executes the transfer of assets between the buyer(s) and seller(s). If you’ve ever used an exchange to buy cryptocurrency, you’ve used an OMS.

Using an OMS isn’t always necessary for value exchange. But in many cases lacking an OMS would mean costly and inefficient methods of exchanging value between another. Not too long ago people would literally keep written records and make phone calls to track and execute orders. Fast forward to the digital age we live in today and the process of order matching is automated. But not without issues that blockchain technology can solve.

The Chintai OMS is the only fully on-chain, configurable, high-performance OMS. This is especially important for building a regulated DeFi ecosystem because regulators want full transparency of ownership and transfer of digital assets. An on-chain OMS also means data can be aggregated and easily reconciled between participants in a given market. This feature alone could save millions in the finance industry, while broadening the ability of people all over the world to enter the investment class

What is a Chintai Merchant?

Similar to how a platform like YouTube offers the means for anyone to share custom videos, Chintai will provide tools for anyone to host their own custom DeFi products that use our infrastructure to create markets. The Chintai OMS can be easily configured to allow “ Chintai Merchants” to build products that need market formation.

Merchants can use an existing UI, or build a fully customized/branded one, set their own fees, and use the Chintai engine in the background to facilitate order matching. The end user does not need to know Chintai exists. For example, if a startup wanted to build an application for fractionalized commercial real estate using blockchain technology, they would need an on-chain OMS. Or if someone wanted to embed peer-to-peer virtual item trading and leasing with smart contracts into a game, they would need an on-chain OMS.

Chintai Markets

Leasing Markets

The first use case for the Chintai OMS is token leasing. The underlying utility or functionality of a token be can lended using smart contracts. For example, the EOS token comes with ownership rights to network CPU — basically “battery power” that’s needed to transact on the EOS blockchain. Lenders can generate passive income on unused tokens, and borrowers can access utility at low costs, while being unexposed to price volatility. Since the process is powered by smart contracts, lenders do limit counterparty risk to code. The entire process is automated and requires no human intervention.

Since launching EOS token leasing markets in October 2018, $250 million in transaction volume has been generated, totaling 33,000 unique users that acquired $800K in collective profits from lending. The concept of token leasing has been proven as commercially viable. The REX (Resource Exchange) is a subsidized leasing market on the EOS blockchain that has since absorbed most EOS leasing, but we are extending the concept to numerous utility tokens. Chintai will also feature a three month term for EOS leasing.

Additional token leasing markets are live or slated for deployment in early 2020,  including BOID, DAPP, and WAX. We are also working with game developers on implementing NFT leasing and trading directly into games. (NFTs are bespoke or unique items i.e. characters, skins, weapons).

Regulated DEX for Utility Tokens, Bonds & Securities

Our extensive groundwork with global regulators and financial entities revealed that having a way to transparently enforce compliance laws and trace the movement of assets between market participants is highly desirable. Centralized exchanges have a single point of failure, and unregulated DEX’s are shunned by regulators. Furthermore, having tokenized securities on a centralized exchange loses the benefits of using a blockchain because they cannot be transparently traced, and no one will issue securities on an unregulated DEX.

The Chintai DEX will be fully regulated. Mynt (My Native Token) is Chintai’s end-to-end service for encoding compliance controls directly into the token layer and facilitating issuance. This enables market participants to only access and trade tokens that are compliant with their local laws. If someone tries to access or trade a token that is not compliant with local laws, smart contracts will not allow execution.

The Chintai DEX is currently on testnet, and will formally launch when and if licensed. We will begin by servicing trading and issuance for bonds, tokenized securities, EOSIO utility tokens, and expand our offering to include tokens from other protocols, including ETH, BTC, and more.

Chintai Tools

Mynt (My Native Token)

A  comprehensive service for regulatory compliant token distributions. Mynt is a turnkey service that harmonizes the technical, legal, and financial aspects of token distributions.

Automated Resource Management (ARM)

ARM automatically allocates blockchain resources to dApps. CPU/NET is the underlying utility of many EOSIO tokens that is needed to transaction on the EOSIO blockchains. ARM can be used by dApps to ensure they always have CPU/NET to enable transactions to seamlessly occur for their contracts and users.

ARM also makes sure dApps have enough RAM — the resource that is necessary for storing information (memory).

Merchant Network

The Chintai Merchant Network enables anyone to create their own custom UI, set their own fees and use our engine (OMS) in the background to generate revenue for business expansion — DeFi done for you.

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CHEX Tokenomic Overview & Utility

A portion of platform fees will be removed from circulation. These fees will be used for three purposes. (1) platform expansion and maintenance (2) burning to stabilize price and incentivize behaviors that benefit the Chintai ecosystem participants (3) reinjection to incentivize liquidity and reduce borrowing costs.

The total supply of CHEX tokens is 1bn and will never exceed 1bn. The only changes to supply will occur after tokens are burned (permanently removed from supply).

Merchant Access

Businesses can be white labeled to leverage the Chintai OMS (Chintai Merchants). This allows Chintai Merchants to setup custom markets for a multitude of asset classes. Merchants will be required to stake CHEX to access OMS capacity, which can be done either using CHEX holdings or leasing from others for an ongoing fee.

Smart Matching

Chintai will allocate a portion of platform generated fees for incentivizing liquidity and market formation in token leasing markets. Fees can come from any of our markets.

Here’s how it works…

  • Platform fees are used to incentivize liquidity on token leasing markets.
  • That liquidity can be used by CHEX holders to lend.
  • CHEX holders must “pledge” CHEX to lend, allowing them to earn interest on the highest paying leasing markets. (pledged CHEX simply means putting it into the Chintai smart contract or system)
  • Pledged CHEX simultaneously forms a leasing market.
  • Merchants can borrow CHEX from this market (remember, Merchants need to stake CHEX to access the Chintai OMS).
  • This allows CHEX holders to generate revenue by lending on multiple markets simultaneously while helping reduce costs for token utility.

Consider this scenario:

Token (A) launches a leasing market on Chintai. The market begins to form and it has low depth. To incentivize depth, Chintai may use a portion of platform fees to incentivize Token (A) holders to bring their liquidity to the Chintai token leasing markets. This liquidity will be available to CHEX holders to lend on the Token (A) leasing market.

All pledged CHEX will form a token leasing market of its own. The CHEX token leasing market will be used by Chintai Merchants for access to the Chintai Marchant network (OMS). Therefore, CHEX holders can simultaneously be generating income from lending on multiple markets at once, which helps borrowers access token utility at lower costs. Everyone wins.

Reduced Fees

Paying platform fees with CHEX results in reduced fees when compared to paying platform fees in other tokens or currency.

Lock/Unlock

CHEX holders can lock their CHEX, with a customizable period from 1 to 100 days.

Locking is intended to be a security feature for CHEX holders that do not need to access additional platform utility and only wish to secure their CHEX in their account.

Asset Rating & Prediction Market

In a regulatory submission paper to the Monetary Authority of Singapore, Chintai formally outlined plans to introduce a decentralized replacement for rating of bonds in the dApp Bond market. The proposed rating system will be based on a stake weighted rating mechanism using a combination of CHEX and a regulated stablecoin. Both CHEX and the future Chintai platform stable coin will be staked in a prediction market by raters as collateral against their bond rating. Correct ratings will result in rewards for CHEX holders.

Collateral

Many bonds will be collateralized to limit exposure and downside potential to bond holders in the case of a default event. Where collateralized, Chintai will use a combination of CHEX and a regulated stablecoin that will be required to be staked by the bond issuer.

During Mynt STO’s, all token issuers will be required to hold and stake CHEX as collateral throughout the distribution event. Issuers will also use stake CHEX to power automated resource management for execution. There will be additional CHEX collateral opportunities, including token lending (particularly NFT’s), derivatives and structured products.

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