What is the PEPPER Token? Understanding theCAP20 Token on the Chiliz Chain

The PEPPER token has been introduced as a CAP20 token—a standard similar to ERC20 but designed for the Chiliz Chain. It joins the growing trend of community tokens launched during what has been called Community Tokens Summer 2024. 

While the PEPPER token claims no specific utility, it offers participation-based rewards through airdrops and farming. Let's dive into the mechanics behind PEPPER’s launch, distribution, and ecosystem.

PEPPER Token Distribution and Supply

The PEPPER token introduces a distinctive tokenomics model with an abundant supply. In a somewhat humorous tone, the creators emphasize that PEPPER isn’t about limited quantities—it’s more about sheer abundance, with a supply of 8,888,888,888,000,000 PEPPER. 

This number corresponds to 1,000,000 PEPPER per CHZ circulating on the Chiliz Chain, with the original CHZ supply standing at 8,888,888,888 CHZ.

The distribution of PEPPER tokens follows a fair launch model, without pre-minted tokens or exclusive allocations. 

Instead, users can acquire PEPPER through airdrops and farming, provided they meet certain eligibility criteria. The model reflects a focus on participation and engagement within the Chiliz ecosystem.

Airdrops: How to Receive PEPPER Tokens

PEPPER will be distributed via multiple airdrops, with approximately 30% of the total supply reserved for these events. 

Holders and stakers on the Chiliz Chain can receive 150,000 PEPPER per 1 CHZ in their wallets or staked on the governance platform. However, only participants holding or staking at least 100+ CHZ will qualify for the airdrops.

The numbers provided in the distribution plan may vary slightly, as the creators hint that the final percentage could be around 32.888%—reflecting the light-hearted nature of the project. 

Multiple airdrops are expected, giving participants several opportunities to receive PEPPER throughout the token’s launch period.

Farming PEPPER Tokens: Harvesting the Remaining Supply

Beyond airdrops, the remaining 70% of PEPPER’s supply will be distributed through farming. This mechanism allows eligible users to harvest tokens daily by staking CHZ on Main Validators via the Chiliz Governance dApp. 

For every 1 CHZ staked, participants can harvest 250,000 PEPPER. The farming process will be active once per day, with the farming season lasting three months, or until the entire token supply is distributed.

The creators encourage users to harvest daily to maximize their PEPPER holdings, humorously suggesting that with enough dedication, participants could accumulate enough tokens to "fill the largest football stadium." 

Farming PEPPER requires continuous engagement with the governance system, aligning token rewards with active participation within the Chiliz Chain.

Conclusion

The PEPPER token follows the trend of community-driven tokens, with a light-hearted approach that reflects the growing popularity of niche digital assets. 

With airdrops and farming as the primary distribution methods, PEPPER encourages participants to engage actively in the Chiliz Chain ecosystem. 

While the token itself doesn’t claim any inherent utility, it provides a chance for users to immerse themselves in the broader community token phenomenon that has taken hold during 2024.

Frequently Asked Questions

Q1: How can I qualify for the PEPPER airdrop?
A: To qualify, you must hold or stake at least 100+ CHZ on the Chiliz Chain. Each airdrop distributes 150,000 PEPPER per 1 CHZ held or staked.

Q2: How long will the farming season last?
A: The farming season will last three months or until the full supply of PEPPER is harvested.

Q3: What is the total supply of PEPPER tokens?
A: The total supply of PEPPER is 8,888,888,888,000,000, with 30% distributed via airdrops and 70% available for farming.

Investor Caution 

While the crypto hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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