What is Chi Gastoken (CHI) | What is CHI token

To execute a 1inch punch, you need power, in Asian Martial Arts it is called as  Chi / Qi, whose equivalent in the crypto space is our new Chi Gastoken. Now, any user can burn their Chi tokens and thereby save on gas.

What is a Gastoken?

Every transaction on the Ethereum network requires some gas. A Gastoken facilitates transactions with the same amount of work but less gas. A Gastoken takes advantage of the Ethereum storage refund, see  Ethereum Yellow Paper. To encourage smart contracts to erase unnecessary storage, Ethereum provides a refund for each zeroed element. So, in the process of burning, a Gastoken’s smart contract erases storage that were filled during minting. The most efficient storage gas refunds are achieved by creating and destroying sub smart contract, not by direct writes and erases of the storage.

The idea for the Chi token is based on the original Gastoken GST2 implementation. We saw that there were ways to improve the efficiency with:

  • Reducing the smart contract address size by mining a private key with  Profanity address generator, which allowed us to decrease size of the sub smart contracts by 1 byte.
  • Using CREATE2 instruction to deploy sub smart contracts for their efficient address discovery during burning process.
  • Fixing ERC20 incompatibilities of GST2

How much is Chi better than GST2?

The Chi token is 1% more optimized for minting, and 10% more efficient for burning.

Image for post

Gastokens efficiency comparison. See  https://www.desmos.com/calculator/9z3hnwzbbl

y = 15000 * x / (20065 + 5065 * x) // GST1
y = 24000 * x / (35974 + 6689 * x) // GST2
y = 24000 * x / (35678 + 6053 * x) // CHI

How Chi can be used?

The deployment of a Ethereum smart contract requires substantial gas, and it could cost you for example between $5 and $10 per million of gas, while regular smart contract could have size of several millions of gas. But burning Chi tokens in the same transaction would reduce these costs by almost the half.

We have built on  ETHGlobal HackMoney Online Hackathon such a tool called  Deployer.eth.

The support of Chi token can be integrated in any smart contract with just a few lines of code by using following modifier:

modifier discountCHI {
    uint256 gasStart = gasleft();
    _;
    uint256 gasSpent = 21000 + gasStart — gasleft() + 16 *
                       msg.data.length;
    chi.freeFromUpTo(msg.sender, (gasSpent + 14154) / 41947);
}

In this case, Chi tokens will be burned from the caller’s wallet (Chi tokens should be approved to the contract by the user).

In case of burning Chi tokens from the contract itself (rather than from a user’s wallet), you need to change msg.sender in the chi.freeFromUpTo function to address(this). And don’t forget to top up your contract with Chi tokens.

How can you mint Chi tokens?

You can mint Chi tokens directly on Etherscan. Another option is  the Chi Minter on 1inch. To use it, you need to deactivate all exchanges, except for the Chi minter.

Image for post

Chi Minter on 1inch

The maximum minting limit is 140 Chi tokens, which, in turn, is explained by the block limit. We deliberately use about one half of the block, so that miners won’t reject this type of transaction, which is less profitable for them.

If, for instance, you swap 1 ETH using Chi Minter, you get 140 Chi tokens and pay 20 GWEI for gas. But we won’t spend the entire 1 ETH as the minting of 140 Chi tokens doesn’t cost that much. Only what is actually spent will be spent:

5,125,271 gas x 20 GWEI = 5125271*20*1e9/1e18 = 0.10250542 ETH 

So, only about 0.1 ETH will be spent, rather than 1 ETH.

One other thing. When you mint Chi tokens and indicate a low gas price, your wallet will be blocked. Therefore, we advise that you use a separate wallet specifically for minting Chi tokens.

How can you trade Chi Gastoken

It is also possible to trade Chi token on 1inch. For that you need to select Chi in the from token drop down and a token you wish to get in the to token dropdown. 1inch find the best place where to sell your Chi token.

Very important to understand for everyone:

Imagine Chi token as tokenized version of actual gas price on Ethereum. Means if the gas price grow. Chi token price also grow. If gas price in Ethereum drops, the same would also happen with Chi.

Image for post

Selling Chi token on 1inch for the best market price

Of course you can set a limit order on 1inch with the rate you wish.

Image for post

Limit order on 1inch

How to deploy a smart contract with less gas costs?

You need to approve the  Chi token to deployer.eth. To do that, go to the _Write Contract _section on Chi. Find the approve function and trigger it with the deployer.eth address and approval amount.

Image for post

Click on the _Deploy _button on  remix.ide and copy data to deploy (0x6080604…). Don’t click on confirm.

Image for post

Image for post

Go to the _Write Contract _section on the  deployer.eth contract and paste the deploy data to chiDeploy for Chi burning. Click Write and confirm the transaction in the popup MetaMask window.

Image for post

Here we are! Only 51.18% of gas was used and 6 Chi tokens were burned.

Image for post

Finally, go to the _Internal Transactions _section. There, you can find the deployed contract address. Just find _create_0 _below the Type Trace Address. In this line, below the _To _column you can see the deployed contract address.

Image for post

Now go ahead and check out Chi for yourself!

Read more ☞ What is 1inch (1INCH) | What is 1inch Exchange | What is 1INCH token

Would you like to earn CHI token right now! ☞ CLICK HERE

Looking for more information…

☞ Website
☞ Explorer
☞ Source Code
☞ Coinmarketcap

Thank for visiting and reading this article! I’m highly appreciate your actions! Please share if you liked it!

#blockchain #bitcoin #crypto #chi gastoken #chi

What is GEEK

Buddha Community

What is Chi Gastoken (CHI) | What is CHI token

What is Chi Gastoken (CHI) | What is CHI token

To execute a 1inch punch, you need power, in Asian Martial Arts it is called as  Chi / Qi, whose equivalent in the crypto space is our new Chi Gastoken. Now, any user can burn their Chi tokens and thereby save on gas.

What is a Gastoken?

Every transaction on the Ethereum network requires some gas. A Gastoken facilitates transactions with the same amount of work but less gas. A Gastoken takes advantage of the Ethereum storage refund, see  Ethereum Yellow Paper. To encourage smart contracts to erase unnecessary storage, Ethereum provides a refund for each zeroed element. So, in the process of burning, a Gastoken’s smart contract erases storage that were filled during minting. The most efficient storage gas refunds are achieved by creating and destroying sub smart contract, not by direct writes and erases of the storage.

The idea for the Chi token is based on the original Gastoken GST2 implementation. We saw that there were ways to improve the efficiency with:

  • Reducing the smart contract address size by mining a private key with  Profanity address generator, which allowed us to decrease size of the sub smart contracts by 1 byte.
  • Using CREATE2 instruction to deploy sub smart contracts for their efficient address discovery during burning process.
  • Fixing ERC20 incompatibilities of GST2

How much is Chi better than GST2?

The Chi token is 1% more optimized for minting, and 10% more efficient for burning.

Image for post

Gastokens efficiency comparison. See  https://www.desmos.com/calculator/9z3hnwzbbl

y = 15000 * x / (20065 + 5065 * x) // GST1
y = 24000 * x / (35974 + 6689 * x) // GST2
y = 24000 * x / (35678 + 6053 * x) // CHI

How Chi can be used?

The deployment of a Ethereum smart contract requires substantial gas, and it could cost you for example between $5 and $10 per million of gas, while regular smart contract could have size of several millions of gas. But burning Chi tokens in the same transaction would reduce these costs by almost the half.

We have built on  ETHGlobal HackMoney Online Hackathon such a tool called  Deployer.eth.

The support of Chi token can be integrated in any smart contract with just a few lines of code by using following modifier:

modifier discountCHI {
    uint256 gasStart = gasleft();
    _;
    uint256 gasSpent = 21000 + gasStart — gasleft() + 16 *
                       msg.data.length;
    chi.freeFromUpTo(msg.sender, (gasSpent + 14154) / 41947);
}

In this case, Chi tokens will be burned from the caller’s wallet (Chi tokens should be approved to the contract by the user).

In case of burning Chi tokens from the contract itself (rather than from a user’s wallet), you need to change msg.sender in the chi.freeFromUpTo function to address(this). And don’t forget to top up your contract with Chi tokens.

How can you mint Chi tokens?

You can mint Chi tokens directly on Etherscan. Another option is  the Chi Minter on 1inch. To use it, you need to deactivate all exchanges, except for the Chi minter.

Image for post

Chi Minter on 1inch

The maximum minting limit is 140 Chi tokens, which, in turn, is explained by the block limit. We deliberately use about one half of the block, so that miners won’t reject this type of transaction, which is less profitable for them.

If, for instance, you swap 1 ETH using Chi Minter, you get 140 Chi tokens and pay 20 GWEI for gas. But we won’t spend the entire 1 ETH as the minting of 140 Chi tokens doesn’t cost that much. Only what is actually spent will be spent:

5,125,271 gas x 20 GWEI = 5125271*20*1e9/1e18 = 0.10250542 ETH 

So, only about 0.1 ETH will be spent, rather than 1 ETH.

One other thing. When you mint Chi tokens and indicate a low gas price, your wallet will be blocked. Therefore, we advise that you use a separate wallet specifically for minting Chi tokens.

How can you trade Chi Gastoken

It is also possible to trade Chi token on 1inch. For that you need to select Chi in the from token drop down and a token you wish to get in the to token dropdown. 1inch find the best place where to sell your Chi token.

Very important to understand for everyone:

Imagine Chi token as tokenized version of actual gas price on Ethereum. Means if the gas price grow. Chi token price also grow. If gas price in Ethereum drops, the same would also happen with Chi.

Image for post

Selling Chi token on 1inch for the best market price

Of course you can set a limit order on 1inch with the rate you wish.

Image for post

Limit order on 1inch

How to deploy a smart contract with less gas costs?

You need to approve the  Chi token to deployer.eth. To do that, go to the _Write Contract _section on Chi. Find the approve function and trigger it with the deployer.eth address and approval amount.

Image for post

Click on the _Deploy _button on  remix.ide and copy data to deploy (0x6080604…). Don’t click on confirm.

Image for post

Image for post

Go to the _Write Contract _section on the  deployer.eth contract and paste the deploy data to chiDeploy for Chi burning. Click Write and confirm the transaction in the popup MetaMask window.

Image for post

Here we are! Only 51.18% of gas was used and 6 Chi tokens were burned.

Image for post

Finally, go to the _Internal Transactions _section. There, you can find the deployed contract address. Just find _create_0 _below the Type Trace Address. In this line, below the _To _column you can see the deployed contract address.

Image for post

Now go ahead and check out Chi for yourself!

Read more ☞ What is 1inch (1INCH) | What is 1inch Exchange | What is 1INCH token

Would you like to earn CHI token right now! ☞ CLICK HERE

Looking for more information…

☞ Website
☞ Explorer
☞ Source Code
☞ Coinmarketcap

Thank for visiting and reading this article! I’m highly appreciate your actions! Please share if you liked it!

#blockchain #bitcoin #crypto #chi gastoken #chi

aaron silva

aaron silva

1622197808

SafeMoon Clone | Create A DeFi Token Like SafeMoon | DeFi token like SafeMoon

SafeMoon is a decentralized finance (DeFi) token. This token consists of RFI tokenomics and auto-liquidity generating protocol. A DeFi token like SafeMoon has reached the mainstream standards under the Binance Smart Chain. Its success and popularity have been immense, thus, making the majority of the business firms adopt this style of cryptocurrency as an alternative.

A DeFi token like SafeMoon is almost similar to the other crypto-token, but the only difference being that it charges a 10% transaction fee from the users who sell their tokens, in which 5% of the fee is distributed to the remaining SafeMoon owners. This feature rewards the owners for holding onto their tokens.

Read More @ https://bit.ly/3oFbJoJ

#create a defi token like safemoon #defi token like safemoon #safemoon token #safemoon token clone #defi token

aaron silva

aaron silva

1621844791

SafeMoon Clone | SafeMoon Token Clone | SafeMoon Token Clone Development

The SafeMoon Token Clone Development is the new trendsetter in the digital world that brought significant changes to benefit the growth of investors’ business in a short period. The SafeMoon token clone is the most widely discussed topic among global users for its value soaring high in the marketplace. The SafeMoon token development is a combination of RFI tokenomics and the auto-liquidity generating process. The SafeMoon token is a replica of decentralized finance (DeFi) tokens that are highly scalable and implemented with tamper-proof security.

The SafeMoon tokens execute efficient functionalities like RFI Static Rewards, Automated Liquidity Provisions, and Automatic Token Burns. The SafeMoon token is considered the most advanced stable coin in the crypto market. It gained global audience attention for managing the stability of asset value without any fluctuations in the marketplace. The SafeMoon token clone is completely decentralized that eliminates the need for intermediaries and benefits the users with less transaction fee and wait time to overtake the traditional banking process.

Reasons to invest in SafeMoon Token Clone :

  • The SafeMoon token clone benefits the investors with Automated Liquidity Pool as a unique feature since it adds more revenue for their business growth in less time. The traders can experience instant trade round the clock for reaping profits with less investment towards the SafeMoon token.
  • It is integrated with high-end security protocols like two-factor authentication and signature process to prevent various hacks and vulnerable activities. The Smart Contract system in SafeMoon token development manages the overall operation of transactions without any delay,
  • The users can obtain a reward amount based on the volume of SafeMoon tokens traded in the marketplace. The efficient trading mechanism allows the users to trade the SafeMoon tokens at the best price for farming. The user can earn higher rewards based on the staking volume of tokens by users in the trade market.
  • It allows the token holders to gain complete ownership over their SafeMoon tokens after purchasing from DeFi exchanges. The SafeMoon community governs the token distribution, price fluctuations, staking, and every other token activity. The community boosts the value of SafeMoon tokens.
  • The Automated Burning tokens result in the community no longer having control over the SafeMoon tokens. Instead, the community can control the burn of the tokens efficiently for promoting its value in the marketplace. The transaction of SafeMoon tokens on the blockchain platform is fast, safe, and secure.

The SafeMoon Token Clone Development is a promising future for upcoming investors and startups to increase their business revenue in less time. The SafeMoon token clone has great demand in the real world among millions of users for its value in the market. Investors can contact leading Infinite Block Tech to gain proper assistance in developing a world-class SafeMoon token clone that increases the business growth in less time.

#safemoon token #safemoon token clone #safemoon token clone development #defi token

Angelina roda

Angelina roda

1624230000

How to Buy FEG Token - The EASIEST Method 2021. JUST IN A FEW MINUTES!!!

How to Buy FEG Token - The EASIEST Method 2021
In today’s video, I will be showing you guys how to buy the FEG token/coin using Trust Wallet and Pancakeswap. This will work for both iOS and Android devices!
📺 The video in this post was made by More LimSanity
The origin of the article: https://www.youtube.com/watch?v=LAVwpiEN6bg
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
⭐ ⭐ ⭐The project is of interest to the community. Join to Get free ‘GEEK coin’ (GEEKCASH coin)!
☞ **-----CLICK HERE-----**⭐ ⭐ ⭐
Thanks for visiting and watching! Please don’t forget to leave a like, comment and share!

#bitcoin #blockchain #feg token #token #how to buy feg token #how to buy feg token - the easiest method 2021

aviana farren

aviana farren

1623836330

Embrace the growth of DeFi Token Development Like SafeMoon in real-world

“The DeFi token development like SafeMoon was initially launched in March 2021 and created huge hype among global users. It is noted that more than 2 million holders have adopted this SafeMoon token in recent times after its launch in the market. The DeFi token like SafeMoon has hit the market cap for about $2.5 billion. This digital currency has experienced a steady increase in its price value to top the crypto list in the trade market. The future of cryptocurrency is expanding wide opportunities for upcoming investors and startups to make their investments worthy.”

The SafeMoon like token development is becoming more popular in the real world, making investors go crazy over these digital currencies since their value is soaring high in the marketplace. The DeFi like SafeMoon token has grabbed users attention in less time when compared to other crypto tokens in the market. The SafeMoon like token exists on the blockchain for the long run and does not rely on any intermediaries like financial institutions or exchanges. It has a peer-to-peer (P2P) network that benefits global users from experiencing fast and secure transactions.

What is SafeMoon?

SafeMoon is considered a decentralized finance (DeFi) token with great demand and value in the crypto market. It is mainly known for its functionalities like Reflection, LP Acquisition and burning. The DeFi token like SafeMoon functions exactly like tokenomics of the reflected finance, and it is operated through the Binance Smart Chain framework. It is a combination of liquidity generating protocol and RFI tokenomics in the blockchain platform. The launch of the SafeMoon token eliminates the need for central authority like banks or governments to benefit the users with secure processing at high speed without any interruption.

SafeMoon Tokenomics :

The SafeMoon tokenomics describes the economic status of the crypto tokens and has a more sound monetary policy than other competitors in the market. However, it is figured that investment towards DeFi like SafeMoon tokens has a higher potential for returns to benefit the investors in future and the risk associated with it is less. The total supply of SafeMoon tokens is estimated at 1,000,000,000,000,000, and 600,000,000,000 of these tokens are still in circulation. Burned Dev tokens supply is calculated as 223,000,000,000,000, and the shorthand is 223 Trillion. The Fair launch supply is closed around 777,000,000,000,000, and it is circulated for about 777 Trillion.

SafeMoon Specification :

The SafeMoon like DeFi token development is currently the fast-moving cryptos and struck the market cap for about $2,965,367,638. The SafeMoon token price value is found to be $0.000005065 that lured a wide range of audience attention in a short period. The total supply of tokens in the present is one quadrillion tokens.

SafeMoon Protocol :

The SafeMoon Protocol is considered as community-driven DeFi token that focuses on reflection, LP acquisition, and burn in each trade where the transaction is taxed into 5% fee redistributed to all existing holders, 5% fee is split into 50/50 where the half is sold by the contract into BNB and another half of SafeMoon tokens pairs with BNB and added as liquidity pair on PancakeSwap.

Safety: A step by step plan for ensuring 100% safety.

  • Dev burned all tokens in the wallet before the launch.
  • Fair launch on DxSale.
  • LP locked on DxLocker for four years
  • LP generated with every trade and locked on Pancake

Why is there a need for reflection & static?

The reflect mechanism effectively allows token holders to hang on their tokens based on percentages carried out and relying upon total tokens held by owners. The static rewards play a significant role in solving a host of problems to benefit the investors with profits based on the volume of tokens being traded in the market. This mechanism focuses on satisfying the early adopters selling their tokens after farming high APYs.

What is the role of Manual Burns?

The manual burns do matter at times, and sometimes they don’t. The continuous burn on any protocol is efficient for a shorter period, which means there is no possibility of controlling it in any way. It is necessary to have the SafeMoon like token burns controlled and promoted for further achievements over community rewards. It is possible that even manual burns and the amounts to be tracked down easily and advertised. The burn strategy of DeFi like SafeMoon token, is beneficial and rewarding for users engaged over the long term.

How efficient is Automatic Liquidity Pool (LP)?

The SafeMoon protocol ensures to take the assets automatically from token holders and locks them for liquidity. The main intention is to keep the holder in touch with the performance of the SafeMoon token by preventing the dips from whales when they are adopted for the mass trade-off.
The DeFi like SafeMoon token, has great price value in the trade market with fewer fluctuations.

Attractive features present in DeFi like SafeMoon token platform :

  • Stable Rewards
  • Manual Burning
  • LP Acquisition
  • Community Governed Tokens
  • RFI Staking Rewards
  • Automated Liquidity Pool
  • Automated Market Making

What are the benefits offered in SafeMoon like Token Development?

  • The SafeMoon like token development maintains high transparency over user transaction details to gain their trust.
  • It eliminates the need for intermediaries in DeFi token like SafeMoon platform to benefit the users with less gas fee, wait time and faster transaction speed.
  • The DeFi token development like SafeMoon supports borderless transactions for users to transfer funds from anywhere and anytime.
  • It benefits the token holders from gaining exclusive ownership rights over their purchased DeFi like SafeMoon tokens from the marketplace.
  • The smart contracts present in DeFi like SafeMoon token platform manages to operate the overall flow of transactions without any delay.
  • Investors can generate immediate liquidity from DeFi like SafeMoon tokens to increase their business revenue in a short period.

Summing Up :

The DeFi token development like SafeMoon is the next game-changer for the upcoming generation to explore the benefits for their business growth. The investments towards DeFi like SafeMoon token has excellent value in the long run that benefits the investors with high returns. It is highly efficient for trade, buy/sell and transaction. Investors can connect with any reputed blockchain company with professional experience developing a world-class DeFi like SafeMoon token platform with high-end features cost-effectively.

#defi token development like safemoon #defi like safemoon token #defi like safemoon token platform #safemoon like token development #defi token like safemoon