Chads.VC ($CHADS) is an unaudited social experiment DeFi (Decentralized Finance) protocol launched in September 2020. $CHADS launched as a provisional ERC-20 token on Ethereum which will be swappable 1:1 for a mainnet token on the Moonbeam Network (Polkadot) upon launch. ^{[4] [3]}

The $CHADS protocol has Non-Fungible Token (NFT) implementation and aims to be the first meme coin on $DOT. $CHADS has a partnership with $SURF. ^[4]

$CHADS is designed to be deflationary utilizing a novel burn curve mechanism. The lower the price someone sells or transfers their $CHADS, the more of their tokens are burnt. Only buying $CHADS or supplying liquidity to the Uniswap pool are exempt from this burn model. ^{[1] [6] [2][5] [13]}

CHADS uses a novel burn curve calculated using the Uniswap V2 Price Oracle, which will be based on the 1-hour TWAP (Time-weighted average price) of the CHADS/ETH price in their designated Uniswap pool.

The price multiple (current price / initial listing price) determines how many tokens are burnt on each sell or transfer of $CHADS.

The lower the multiple, the more tokens are burned.

^[6]

In this way, $CHADS rewards true "Chads" and punishes weak-handed "virgins" or novice traders.

51% of burnt $CHADS are sent to the burn address, and 49% are sent to a reserve account to be distributed to "true chads."

^[6]

The token is designed to burn a percentage of a person holding $CHADS according to the price they moved it.

This will be determined by a burn curve, the lower the price that person sells at, the more of their $CHADS tokens are burnt. ^[6]

51% of burnt CHADS will be sent to the burn address, 49% held in a reserve account and given to true "Chads" (details in future announcement).

The total supply of CHADS is therefore deflationary and decreases with every transfer.

Buying $CHADS or supplying liquidity to the Uniswap pool does not burn $CHADS and these are the only exceptions. ^[6]

The burn curve function is Percentage burned = 50 / (Price multiple from Uniswap listing price).

^[6]

The maximum amount of tokens burned is 50% and the minimum is 0.5%, so the supply is always decreasing no matter how high the price of CHADS goes.

^[6]

69,000,000 million $CHADS will be initially minted.

This is the only time CHADS will ever be created.

The deflationary nature of $CHADS means that the supply will always be decreasing.

Unburnt tokens at the time of Moonbeam launch will be swapped 1:1 to the Moonbeam network, where the same token economics will apply. ^[6]

On September 23, 2020 $CHADS passed the 2000 holders mark with over 2000 Ethereum accounts holding the token. ^[16]

A competition called "Chads of DeFi" is currently going through October 4, 2020.

In addition to winning 100,000 $CHADS the first place prize winner also gets turned into a mineable NFT.

The second place winner gets 50,000 $CHADS while the third place winner gets 25,000 $CHADS.

^[15]

On September 22, 2020, $CHADS announced via Twitter that users will be able to Yield Farming Non-Fungible Token (NFT) s.

The development team of the $CHADS protocol are made up an anonymous of crypto traders, designers, and self described "chads".

They created $CHADS as a service to the cryptocurrency community.

^[6]