Description: The $CHIP algorithmic token serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity. The protocol's underlying mechanism dynamically adjusts $CHIP's supply, pushing its price up or down relative to the price of 1 $TOMB. Casinofinance.io is a multi-token protocol which consists of the following three tokens: Casino Chip Token ($CHIP), Casino share ($DICE), Casino Bonds ($CBOND).
CHIP - Casino Chip Token
CHIP token is designed to be used as a medium of exchange. The built-in stability mechanism in the protocol aims to maintain CHIP's peg to 1 TOMB token in the long run. Note that CHIP actively pegs via the algorithm, it does not mean it will be valued at 1 TOMB all times as it is not collaterized. CHIP is not to be confused for a crypto or fiat-backed stablecoin.
DICE - Casino Share Token
Casino Shares ($DICE) are one of the ways to measure the value of the CHIP Protocol and shareholder trust in its ability to maintain CHIP close to peg. During epoch expansions the protocol mints CHIP and distributes it proportionally to all DICE holders who have staked their tokens in the Boardroom.
CBOND - Casino Bonds Token
CBOND main job is to help incentivize changes in CBOND supply during an epoch contraction period. When the TWAP (Time Weighted Average Price) of CHIP falls below 1 TOMB, CBOND are issued and can be bought with CHIP at the current price. Exchanging CHIP for CBOND burns CHIP tokens, taking them out of circulation (deflation) and helping to get the price back up to 1 TOMB. These CBOND can be redeemed for CHIP when the price is above peg in the future, plus an extra incentive for the longer they are held above peg. This amounts to inflation and sell pressure for CHIP when it is above peg, helping to push it back toward 1 TOMB.
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