79anvi/net

Chronic Chain

❗️For issue disclosure, check out SECURITY.md ❗️

🚀 For release procedures, check out RELEASES.md. 🚀

Chronic Chain is an open source platform for inter-operable smart contracts which automatically execute, control or document a procedure of events and actions according to the terms of the contract or agreement to be valid and usable across multiple sovereign networks.

Chronic Chain is a sovereign public blockchain in the Cosmos ecosystem. It aims to provide a sandbox environment for the deployment of such inter-operable smart contracts, in a hyper focused community that aims to uplift cannabis. The network serves as a decentralized, permissionless, and censorship resistant zone for cannabis culture to efficiently and securely launch application specific smart contracts. Developers & projects can leverage proven frameworks and compile code in various languages, like Rust & Go with the potential future addition of C and C++. Battle-tested contract modules such as CosmWasm will allow for decentralized applications (dApps) to be compiled as robust and secure multi-chain smart contracts. EVM support and additional specialized modules can be introduced after genesis subject to onchain governance.

At the heart of Cosmos is the Inter Blockchain Communication Protocol (IBC), which sets the table for an inter-operable base layer 0 that can be used to transfer data packets across thousands of independent networks supporting IBC. Naturally, the next evolutionary milestone is to enable cross-network smart contracts.

The Chronic blockchain is built using the Cosmos SDK framework. Cosmos SDK is a generalized framework that simplifies the process of building secure blockchain applications on top of Tendermint BFT. It is based on two major principles: Modularity and capabilities-based security.

Agreement on the network state is reached via Tendermint BFT consensus.

Tendermint BFT is a solution that packages the networking and consensus layers of a blockchain into a generic engine, allowing developers to focus on application development as opposed to the complex underlying protocol. As a result, Tendermint saves hundreds of hours of development time.

Chronic Chain originates from a community driven initiative, prompted by developers, validators and delegators in the Cosmos ecosystem. The common vision is to preserve the neutrality, performance, and reliability of the Cosmos Hub. This is achieved by offloading smart contract deployment to a dedicated sister Hub. Chronic Network plans to make an early connection to the Cosmos Hub enabling IBC transfers, cross-chain smart contracts and shared security.

A decentralized launch of the Chronic's main-net was enabled by a large set of independent validators from across the blockchain space. $CHT, the native asset, has many functions like securing the Chronic Hub and serving as a work token to give access to on-chain governance voting rights and to provide utility in the deployment and execution of smart contracts.

What differentiates Chronic from other Smart Contract networks?

⚪️ Interoperable smart contracts

⚪️ Open source

⚪️ Permissionless

⚪️ Modular

⚪️ Wasm + (EVM)

⚪️ Compilation in multiple languages Rust & Go (C,C++)

⚪️ Highly scalable

⚪️ Ease of use/developer ergonomics

⚪️ Onchain governance

⚪️ Balanced governance (Zero top heavy control)

⚪️ Grass roots community

⚪️ Decentralized

Tokenomics & reward shedule (updated on 24.07.2021)

⚪️ Ticker: CHT

⚪️ Decimals: 6

⚪️ Unit: ucht

⚪️ Supply: 420 million CHT , 1 Billion CGAS

⚪️ Rewards: yearly decreasing, inflationary reward schedule (Reward model below)

⚪️ Community pool tax: 2% of block rewards

✅ Circulating supply at genesis 420,000,000 $CHT 100,000,000 $CGAS ✅ Max supply (After year 12): 420,000,000 $CHT 1 Billion $CGAS

Supply Breakdown

⚪️ Ecosystem Incentives: 63,540,000 $CHT

⚪️ Community Pool: 140,800,000 $CHT

⚪️ Foundation Wallet: 100,800,000 $CHT

⚪️ Previous Community: 26,720,000 $CHT

Genesis Distribution

A LBP presale for previous $CHT holders occured, along with a 1:1 ratio redistribution of $CGAS to previous ERC20 $CHT holders. Addresses that qualify are included in the Chronic Chain genesis block at launch. All exchange validators & their delegators are excluded from the genesis allocation. Additionally any unbonded CHT at the time of the snapshot is excluded. Approx 20% of the supply difference is allocated to the development reserve (multi-sig) address for the funding of core-development efforts. 10% of the development reserve is to be sent to the community pool in effort of decentralization. The remaining 90% of the excess supply to be allocated in the following ways (140,800,00 million $CHT community pool, 100,800,000 million $CHT for the foundation delegations, 26,720,000 million $CHT to previous community members, 63,540,000 $CHT for ecosystem incentives.

Reward Schedule

⚪️ Phase 1: Fixed inflation 13%

New CGAS in year 1 = (+60,013,347)

Supply after year 1 = 160,013,347 $CGAS

Following Reward schedule to be optimized via governance voting in the future

Chronic is a blockchain built using Cosmos SDK and Tendermint and created with Starport.

## Learn more

- [Chronic Network ](https://chronicchain.io)
- [Starport](https://github.com/tendermint/starport)
- [Cosmos SDK documentation](https://docs.cosmos.network)
- [Cosmos SDK Tutorials](https://tutorials.cosmos.network)
- [Telegram](https://t.me/chronicToken)
- [Discord](https://discord.gg/FQfwATWZk7)