The Launchify Token ($CHIFY) is the native utility token of the Launchify platform. It is central to various functionalities, rewards, and engagement mechanisms, empowering users and fostering community growth.
To participate in an IDO on Launchify, you must earn buy power by staking, locking, or burning $CHIFY tokens, or by holding Launchify NFTs (Chifys). Buy power is earned daily based on your participation method, which determines the amount you accumulate. The system is designed to encourage user engagement, and a tier system rewards those who contribute more, increasing their buy power and benefits. This enhanced buy power can then be utilized strategically to maximize investment opportunities in upcoming IDOs, allowing users to take full advantage of their holdings and improve their chances of success in the market.
Stake $CHIFY tokens to earn buy power. Tokens can be withdrawn anytime, but there is a 24-hour delay from the moment of withdrawal until the user can redeem the tokens.
Lock $CHIFY tokens for a predetermined period to earn significantly more buy power compared to staking. The buy power earned depends on both the size and the length of the lock period.
Instantly burn $CHIFY tokens or NFTs to instantly gain a substantial amount of buy power. Buy power is awarded instantly, and the amount is significantly higher compared to staking or locking with an x30 multiplier.
Launchify's tier system is designed to reward users who support the platform the most, offering enhanced benefits and earlier access to presales. The system is structured to ensure that higher levels of participation and commitment are recognized with greater rewards.
The tier system is designed to incentivize and reward active participation within the Launchify ecosystem. By staking, locking, or burning $CHIFY tokens or holding Chifys, users can climb the tiers and unlock a range of exclusive benefits. This structure ensures that those who are most committed to the platform receive the highest rewards, fostering a dedicated and engaged community.
Power grants buying ability in IDOs, with each unit of Power offering different purchasing strength for each IDO. Users can acquire Power using points earned through staking, locking, or burning.