Chikn: A Novel and innovative token ecosystem — AMA with Trader Joe

Introduction

Today Chikn launch their double rewards EGG/AVAX farm, where users can deposit $EGG and $AVAX to earn $FEED and $JOE.

An early innovator in the NFT gaming sector, Chikn was first brought to the attention of Trader Joe via the Cultivation Club, with over 80% of voters in favor of offering the protocol a community farm. Chikn has subsequently been upgraded to one of our strategic partner farms, recognizing the stylistic and user-friendly parallels that run between the two organizations.

Double Reward Farm — Deploys 30th

The Chikn AMA: Transcript/Highlights

Below you can find a breakdown of Trader Joe’s AMA with Dr Books (AKA Cluck Norris), the co-founder of Chikn, working in Business Development and as a DPAC Architect. Unfortunately, technical issues have prevented us from uploading the audio recording of the AMA, but there are plenty of details here to get you pumped for the new farm.

An introduction to Chikn Farm.

  • Chikn is a novel concept that demonstrates the capabilities of NFTs and emissions tokens in a simple format — Chikn lay EGG.
  • The core-team behind Chikn is made up of 2 full stack developers, 3 biz dev officers, and a designer.

“We saw an opportunity in the NFT boom and pulled a ‘Wayne Gretzky’ — navigating to where the puck is going to be rather than where the puck is”

The genesis of Chikn

  • One of the team’s full stack developers built a piece of generative art software and Chikn was born from that proof of concept.
  • The team were immediately struck by the unconventional hilarity of the idea, onboarding @ChiknGravy as Chikn’s primary designer.

“It was really unconventional and unexpected, but the best ideas often aren’t planned for, but emerge organically. You just grab them and run.”

The Chikn Army

  • Community is at the core of Chikn’s mission.
  • Chikn is approachable, easy-to-understand and open to a wide range of demographics, from Avalanche OGs, big brains, early entrants and parents teaching their children about DeFi.

“It’s their willingness to put their faith in the project that has gotten us to where we are now. We definitely have an awesome Chikn army”

Tri-token architecture

  • Inspired by the Avalanche triangle, Tri-token ‘Big’ Architecture uses a combination of aesthetic and technical symbology built around Chikn NFTs, EGG and FEED.
  • The central idea is that Chikn NFTs represent a ‘key’ to the emissions token, unlocking the power of upgradable NFTs.
  • The supply of NFTs is capped, so invested owners can permanently upgrade their Chikn NFTs to produce exponentially increasing EGG emissions, using FEED.

“I don’t think its any mistake that Avalanche has a triangle as its core shape and we saw the opportunity to elegantly merge our architecture with the style of Avalanche”

Chikn Use-Cases

  • Users can ‘Roost’ (Chikn’s version of Staking) without having to submit ownership of their NFT to the contract. This means that owners of the Chikn NFT can be sold on the secondary market at any time.
  • Buyers of Chikn on the secondary market will inherit all of the Chikn’s unclaimed EGG and upgrades.

Chikn Tokenomics

  • Chikn’s can be upgraded until the supply of $FEED runs out.
  • The goal of the Chikn ecosystem is to create enough products to ensure that there’s enough deflationary pressure to counteract inflation.
  • Breakage Fees are gained when a user un-stakes EGG, which burns the EGG and funds FEED.

Coming up for Chikn…

  • Chikn will be made up of three separate and concurrent streams: Extra functionality for Chikn NFTs, a more immersive P2E / PVP gaming experience, and a Chikn Launchpad.
  • The launchpad will help to kickstart young NFT projects on the Chikn Farm, under the proviso that EGG is used for the upgradable NFT’s smart contracts and token emissions.
  • A new series of Chikn NFTs will be bred in Q1.

“People can come to us with little more than a jpeg and a dream and help them realise their project”

Chikn Traits

  • Bigger Chikn’s will have significant advantages in the game and can be bulked up with FEED and EGG.
  • On a high level, Each Chikn trait will correspond to its own attribute which are desirable for different in-game scenarios.
  • ‘Legendaries’ have a lot more traits on average than ‘Common chooks’, even though they both lay the same amount of EGG, supporting equal-opportunities foundations.
  • The visual traits of the Chikn NFTs will remain the same as on mint, however supplementary Chikn traits can still be added.

Chikn Strategies

  • From an EGG laying perspective, the best strategy is to level up all of Chikn NFTs equally for optimal egg production.
  • Strategies for the PVP game are being held back until release to maintain a level playing field.

“Who’s to say that big arms are better than a baguette?”

Chikn PVP Gaming Mechanics

  • A ‘winner takes all’ EGG wager system or FEED rewards are possible scenarios.
  • Chikn’s of varying weights will still be able to play each other, however ‘coq-fighting’ will be a blind entry. The team foresees a world where Twitter arguments are resolved by ‘throwing down the gauntlet’, with players having to meet EGG wagers and hope they have a better Chikn.
  • The Chikn PVP game will be an an active, participatory online gaming experience
  • In the future Chikn’s may be able to be rented out as a passive income stream.

Chikn Links

About Trader Joe

Trader Joe is a one-stop-shop decentralized trading platform native to the Avalanche blockchain. Trader Joe builds fast, securely and aims to serve the community at the frontier of DeFi. Maximize your yield generating activities under one fully integrated roof, providing you with a unique, innovative, and highly accessible DeFi experience.

Twitter | Discord | Telegram | Facebook | Instagram | YouTube | Facebook

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Trader Joe

Trader Joe

One-stop Trading Platform on Avalanche