At the start of the year we took a look at the adoption of cryptocurrency and how partnerships could be an excellent driver. We specifically focused on how Chromia was achieving this by creating real world partnerships that leverage their blockchain solutions.
Partnerships matter because they build real blockchain use cases and expose the traditional business world to the potential strengths of blockchain. Theoretically, after one business improves their operations using blockchain their competitors will notice the benefits and start to integrate blockchain solutions of their own.
Six months has passed since this article was released and Chromia hasn’t let up. They are still going full throttle towards blockchain adoption. Since January there have been new partnerships, game releases, platform upgrades, token burns and much more. Let’s take a look.
ChromaWay Partnered With ABt Associates
Earlier in June ChromaWay announced a partnership with ABt Associates, an engine for social impact that uses in-depth research to transfer people from vulnerability to security. They are a global community that works together to improve the quality of life of people all over the world.
ABt Associates has recognised the potential blockchain has to further their cause, so they have partnered with cutting edge technology companies to explore possible new solutions. ABt has already built a solution with ChromaWay and Cadasta that uses blockchain to create secure identities for women and children in developing nations. You can learn more about this in the video below.
22 million CHR token burn
The Chromia whitepaper says that ChromaWay is responsible for the development of Chromia in the beginning before a suitable level of decentralization is achieved. As a result, ChromaWay are also currently in charge of managing the CHR token supply.
As the crypto markets have been improving the Chromia team has sped up CHR token issuance to leverage marketing opportunities and grow their ecosystem, which has gained them a good amount of attention. However, it also grew the circulating supply to 346 million CHR which exceeded 324 million, a limit that was previously set.
In the interest of transparency Chromia explained the reasons behind this change and have since burnt 22 million CHR to bring the circulating supply back to below 324 million.
Detailed token use plan
Cryptocurrency investors are, unfortunately, kept in the dark about a lot of things. Fundamentals simply aren’t comparable to those available to traditional investors. That’s why crypto investors jump at the chance to learn more about a project they are investing in. One of the most important topics is token metrics because a change in metrics can completely disturb existing market dynamics, which is a huge concern to investors.
To tackle this issue Chromia released a detailed token use plan in February that outlines the current situation and future plans for CHR, along with a pledge to release an updated plan each year. You can read the CHR use plan here to learn more about the upcoming changes for CHR tokenomics for 2020.
Won the Binance community coin vote
The Chromia community showed their worth by beating out the competition and successfully winning the Binance community coin vote in March. CHR is now listed on Binance, which is responsible for a large amount of Chromia’s total volume. This win has clearly increased the reach of the Chromia brand.
New blockchain games
Mines of Dalarnia, a free-to-play blockchain action-adventure platform-mining game by Chromia Studios, was released. In this game players guide their characters from levels, mining the earth for minerals, aiming to stumble upon rare finds and upgrade their character and equipment. The game features a unique blockchain real-estate market which sets it apart from traditional games.
More recently, Chain of Alliance has been launched on the Chromia platform. It’s a multiplayer auto-battler strategy game that supports up to eight players. You must use your strategy to beat out your opponents. What’s unique about this game is that it will have decentralized governance, so the community can control balance updates to build a game with unprecedented competitive integrity.
*Disclaimer – Chromia are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.