Chromia is a blockchain platform that aims to solve the scalability problem for decentralized applications (dApps).
The platform consists of a network of nodes forming a blockchain, each node using its own relational database.
The Chroma token (CHR) is used as block rewards and to pay for transaction fees.
It raised 11.70MM USD in private and public token sales conducted from August 2018 to May 2019.
1. What is Chromia (CHR)?
Chromia is a blockchain platform that aims to solve the scalability problem for dApps. The platform consists of a network of relational blockchains. dApps can be written in a way that is familiar to developers all over the world, whether they work on large enterprise applications, games, or smaller projects.
Similar to sharding in Ethereum, each blockchain within Chromia is associated with a set of validator nodes, which is a subset of all nodes belonging to Chromia. This subset of nodes runs a Byzantine Fault Tolerance (BFT) consensus algorithm. The network consensus is further strengthened by anchoring Chromia's transaction history to Proof-of-Work (PoW) blockchains such as Bitcoin and Ethereum - once a block is anchored, it will be considered final.
CHR is Chromia's native utility token. Users can use CHR tokens within dApps and the dApps in turn pay transaction fees to block producers using the CHR token. Chromia allows dApps to issue CHR-backed tokens, while investors of dApp projects can be compensated in CHR through a profit-sharing contract. For developers, Chromia offers the opportunity to derive income from their dApps, with popular dApps generating more income demand for tokens owned by the developer.
Current implementations of dApps on Chromia involves finance, gaming, real estate, and healthcare. In the future, Chromia will also focus on dApps involving supply chain, enterprise services, and IoT.
Key metrics (as of May 8th 2020)
345,823,809 CHR (35.36%)
Current Max Supply*
Initial Max Supply
The Chromia team has conducted a token burn of 21,935,206 CHR on May 7th 2020, resulting in a Current Max Supply of 978,064,794 CHR.
2. Recent news
April 2020: participated in #HackTheCrisis, a hackathon in Sweden.
March 2020: released version 0.8 of Chromia's programning language, Rell.
February 2020: released Chromia Vault, Single Sign-On and Explorer in testnet.
February 2020: released Rell tutorials on YouTube.
3. Economics and supply
Private Sale: it was conducted from May 1st to August 20th 2018 for 0.05 USD / CHR at an average rate of 7,736.75 USD = 1 BTC, 270.21 USD = 1 ETH and raised a total of 9.70MM USD. The Private Sale was conducted in USD, BTC, and ETH, and raised a total of 138,351.25 USD, 23.37 BTC, and 34,717.57 ETH.
IEO Sale: it was conducted on May 28th 2019 via KuCoin for 0.05 USD / CHR at an average rate of 1.10 USD = 1 KCS and raised a total of 2.00MM USD. The IEO Sale was conducted in KCS only, and raised a total of 1,818,181.82 KCS.
3.1 Token supply distribution
The token supply distribution is as follows:
Private Sale tokens comprise 19.40% of total supply.
IEO Sale tokens comprise 4.00% of total supply.
Team tokens comprise 2.98% of total supply.
Founders tokens comprise 4.50% of total supply.
Advisors tokens comprise 1.92% of total supply.
Promotion Fund tokens comprise 25.00% of total supply.
Ecosystem Fund tokens comprise 37.20% of total supply.
Automatic Conversion Contract tokens comprise 3.00% of total supply.
Compensation Pool tokens comprise 2.00% of total supply.
*The Automatic Conversion Contract enables users to trade CHR with ETH in an automatic way, allowing ETH holders to engage in the CHR economy smoothly.
CHR token distribution (%)
3.2 CHR token release schedule
The following chart represents the number and breakdown of all CHR tokens that are to be released into circulation on a monthly basis. This chart does not include the aforementioned token burn. The Promotion Fund, Ecosystem Fund, and Conversion Contract tokens will continue to be distributed after December 2024.
CHR token release schedule
4. Project team
Founder of stix.to, former Consultant at Kambi Sports Solutions, Senior Consultant at VPD Financial Software Consulting.
Co-founder of Coloredcoins and Safebit Bitcoin, former CMO at bitBlue.
Founder of we-tag.info, former Software Developer at LapBack and stix.to.
Former CFO at Dappstories, CEO of Oscar & Clothilde AB, CFO at Starcom Sweden.
5. Chromia's activity and community overview
5.1 Development activity
5.2 Community and social data
Chromia will initially focus on community building in China, Korea, US and Europe. The focus of community growth will gradually expand to other markets as the project gains popularity.
Current community growth strategies of Chromia include:
Launching Chromia blockchain project incubator.
Hosting blockchain gaming conferences, workshops, and meetups to engage with potential users.
Providing online and face-to-face tutorials to engage with dApps developers.
Developing relationships with corporate clients and integrate Chromia into their existing services.
Launching incentives programs to encourage system providers to run nodes on the Chromia blockchain.
Enabling staking for the CHR token.
Constantly engaging with the community via social channels.
Future community growth strategies of Chromia include:
Partnering with more gaming studios, startups and enterprises.
Building local communities with Ambassador Programs.
Partnering with external incubator and accelerators.
Continuing to organize hackathons around the world to attract more developers.