Chimpzee is known for its environmental preservation missions, making tangible impacts on the world. The project has invested in various wildlife organizations to protect animals and preserve diverse ecosystems.
The platform gives every creature a chance to thrive by partnering with different organizations worldwide.
Chimpzee developers have announced plans to begin the testing phase in preparation for their launch on the Solana network in September. The expansion to the Solana network could be a game-changer for the Chimpzee community.
Solana is known for its speed and scalability. It carries out transactions faster and in a more efficient way compared to other blockchains. This would translate to CHMPZ token holders enjoying the same privilege.
Solana’s low transaction fees will make trading and transactions with CHMPZ tokens cost-effective, enabling users to maximize their investment without worrying about high fees.
The expansion to Solana will also open up a new channel for trading and liquidity, making CHMPZ available to a broader audience. This move will allow Chimpzee native tokens to operate on two major blockchains with very high activity—Ethereum and Solana.
Solana’s robust network will increase CHMPZ security, ensuring that holders have fewer concerns about blockchain security.
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An increase in demand could raise the CHMPZ price.
The developers have announced that the expansion to the Solana Chain will add to Chimpzee’s richness without replacing Ethereum. This means CHMPZ will become multichain, enjoying the benefits of both the Ethereum and Solana blockchains.
To ensure that the project’s deflationary mechanisms remain in place, the developers will burn an equivalent number of tokens launched on the Solana network from the Ethereum network. This process will maintain the token’s scarcity, which could help its price increase.
To boost demand, Chimpzee’s team will launch the token on a major decentralized exchange on the Solana network. Launching on major exchanges typically sets up a crypto token for a significant spike as it becomes available to more investors.
Chimpzee’s launch on Solana will increase the demand for the token as new investors gain access. The increase in demand, combined with the deflationary mechanism, could positively affect CHMPZ’s value. With a major increase in demand and a reduction or maintenance of its circulating supply, the value of CHMPZ may increase rapidly.
Announcements from Chimpzee’s official X page revealed that the expansion to Solana will occur in mid September. In addition, like on the Ethereum network, staking of CHMPZ tokens will also be available on the Solana blockchain.
However, NFT Passport will only be on the Ethereum network, while the developers may introduce other NFTs for different functions on the Solana chain in the future.
How Staking for Passive Income Works on the Chimpzee Network
The CHMPZ staking opportunity allows investors to earn passive income while locking their funds into the staking pool for a period of time. The process offers high staking rewards: up to 40% APY for CHMPZ token staking and up to 20% APY for NFT passport staking.
This opportunity provides an easy way to potentially earn substantial income while supporting environmental sustainability causes.
Staking also contributes to reducing a token’s circulating supply. With CHMPZ token staking available on both Ethereum and Solana networks simultaneously, we may see increased staking activities and high demand for CHMPZ tokens, potentially increasing the token’s price.
The rewards for staking could also encourage investors to hold on to their token for a longer time. This could reduce the general selling pressure and create some price stability for the CHMPZ token.
Staking also adds to overall network security since it helps in validating transactions. Increased staking activities can make it difficult for bad actors to hack into the blockchain.
To stake, visit the website and click on the “stake CHMPZ” option. This will take you to a page where you can choose to stake either the CHMPZ token or NFT passport. After making your choice, connect your wallet and fill in the required information to complete your stakes.
Secure the CHMPZ Token Before Its Next Major Surge
Signs are pointing to the possibility of a major price surge for the CHMPZ token. The expansion to Solana, deflationary mechanisms, staking opportunities, and other advantages all suggest the potential for an imminent price surge in both the short and long term.
Buying the CHMPZ token now could position you well for the benefits. You can secure your CHMPZ tokens by buying on exchanges like P2PB2B, Bitmart and MEXC.
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