Guides to Blockchain Related Apps
8. Chintai Token Leasing App
Chintai is a token leasing platform developed and now running live on the EOS blockchain. EOS token holders can use the Chintai DApp to generate income by leasing their tokens to app developers needing critical resources for their development and functional roles, since every user needs to stake EOS tokens to acquire bandwidth to do anything on the EOS blockchain network.
Chintai App allows developers to buy EOS bandwidth without holding EOS tokens or tying up excessive capital money unnecessary, and the app allows token holders to productively utilize their spare tokens to make some guaranteed money rather than allow those tokens to idle in their wallet.
Chintai provides a blockchain based marketplace including transparent and secure arbitration accessibility, with feeless transactions for its users to lease EOS tokens from each other. Zero fee transactions will ensure users can lease tokens determined by actual market supply and demand not distorted by any transaction cost.
Chintai platform operates in a price discovery process through a Chintai token bidding cycle which will set the lease market price through the interactions of tokens holders and lessees and depending on their orderbook quantity and rate as well as supply and demand somewhat similar to an exchange.
Chintai tokens are non-transferrable and all code is open source, it is used for leasing bid offers and internal Chintai tokens that are brought back will be burned at the end of the cycle as reported to enable fee payment mechanism. Chintai App aims to provide a highly liquid, transparent token leasing platform, providing fair market value for its users regardless of token size holding or token size requirements.
Chintai is community owned, a number of founding members are reported to be associated with block production but the Chintai group had announced that the rest of the team has no affiliation.
Chintai sponsors include EOS Detroit, EOS 42, EOS New York, EOS Nation, EOS Cannon, Oracle Chain etc. and the team announced that Block.One, a major open-source software publisher and the main developer of EOS blockchain, will not develop a token leasing platform, so both groups will not have conflict interests in token leasing projects.
Chintai Roadmap:Mar 2018: Released Whitepaper.
Aug 2018: Release basic lease contract functionality.
Sep 2018: Launch Junglenet with MVP frontend web interface.
Oct 2018: Launch MVP on EOS Mainnet.
Nov 2018: Support airdropped tokens with leasing on-going on Chintai.
Q1 2019: Complete seamless intergration with REX and Chintai UI. Release Chintai 2.0 with enhanced web interface and historically reporting of activities on Chintai accounts. Release advanced order types (limit and market)