TheChronic platform aims to provide payment solutions to the cannabis community. The cannabis community is where a person can get helpful information, advice, updates, resources, and insights related to cannabis and its industry.
The whitepaper states that the cannabis community has significantly been a decentralized space that makes the community unique. However, it also acts as an obstacle to the development and sustainability of cannabis companies. Also, conventional banking organizations follow federal regulations that are slow to adapt. Therefore, the Chronic token aims to create an infrastructure to handle such problems. The platform’s team believed that decentralized finance (DeFi) and blockchain could have a crucial role in accomplishing this goal. The platform came up with the Chronic token as a response to the unsafe, inefficient, and old payment approaches that businesses of this community depend on.
The platform aims to create a comprehensive POS (point-of-sale) system. The POS system enables the businesses to accept payments made by the customers and maintain the sales track. The POS aims to help in consolidating all the needs in the industry in a single centralized location. Also, the POS system of the platform seeks to involve automated identification validation, digital payments, and inventory management. Another feature of the platform is that it has a Chronic wallet through which users can purchase and transfer CHT tokens to various other users. It aims to offer a rapid and straightforward method to make payments to the merchants accepting Chronic tokens. Also, the Chronic wallet aims to enable users to track every transaction in a single location for seamless tracking of transactions.
The native tokens of the platform are CHT and Cgas.
The Chronic token is an ERC-20 token built on the Ethereum blockchain. Users can stake CHT and receive Cgas. Besides this, users can become delegators by voting on network proposals. Also, Cgas is primarily used for transaction fees within the ecosystem.
