Chikn Egg
Crypto Overview
Overview
Chikn Egg (EGG) is a cryptocurrency that functions as the primary utility token within the Chikn ecosystem on the Avalanche blockchain. The token is used for breeding digital NFT chickens (called Chikns) and as a reward token earned through staking Chikn NFTs.
Purpose and Utility
The primary stated purposes of EGG are: 1) Serving as a breeding currency for Chikn NFTs 2) Acting as a reward token for staking Chikn NFTs 3) Being used for in-game purchases and upgrades within the ecosystem
Current Usage
The token is actively being used for its intended purposes within the Chikn ecosystem. Users stake their Chikn NFTs to earn EGG tokens, and these tokens are regularly used for breeding new Chikns and making in-game purchases.
Business Model Analysis
The business model involves a play-to-earn gaming ecosystem where users can earn rewards through active participation. The core activities involve trading NFTs and using EGG tokens for utility purposes within the game environment. There is no lending, interest-bearing mechanisms, or gambling elements in the core protocol.
Development Activity
The project maintains regular development activity with updates to the gaming ecosystem and NFT functionality. The team consistently releases new features and improvements to the platform.
Token Distribution
Token distribution appears to be relatively fair, with no concerning concentration in founder wallets. The token is earned primarily through gameplay and staking activities.
Crypto Impact
To assign a comfort level investing in Chikn Egg from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Chikn Egg.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.