What is Chirp

Source:https://chirptoken.io/

Chirp is a decentralized Internet of Things (IoT) ecosystem built on the Sui blockchain. Its main goal is to provide global wireless connectivity through a decentralized physical infrastructure network (DePIN), thereby supporting communication between IoT devices and sensors. The core feature of Chirp is to provide connectivity for IoT devices through community-owned and operated miners, while rewarding participants with CHIRP tokens to create a sustainable economic system.

In addition, Chirp not only supports IoT devices, but also is committed to building the world’s largest geolocation database, supporting applications such as indoor navigation. This database is created through the Kage mining game, where players can mine CHIRP tokens by scanning environmental data.

The Chirp team is composed of mathematicians, futurists, engineers, developers, and economists. The founder, Timothy Kravchunovsky, has 20 years of computer experience and has worked as a contractor for the World Bank, Comacast, Chemonics International, and RTTV Washington.

Core Components of Chirp

1. Decentralized Physical Infrastructure Network (DePIN)

One of the core components of Chirp is the decentralized physical infrastructure network (DePIN), which is operated by community members worldwide. Participants provide connectivity services for IoT devices by deploying mining machines (such as Blackbird mining machines). These machines are responsible for collecting and transmitting network data from devices, and ensuring the security and immutability of the data through blockchain technology.

The uniqueness of DePIN lies in its community-driven approach to ensure the coverage and reliability of Internet of Things connections. This decentralized model allows every participant to become a builder and beneficiary of the network, thereby achieving a sustainable ecosystem.

2. Radio Agnostic IoT Network: Simplify the deployment of IoT and RWA projects

Chirp provides a comprehensive set of tools to help developers simplify the management of IoT devices and the data connection with the blockchain. With Chirp, developers can focus more on building applications without worrying about the complexity of IoT technology. These tools are not only suitable for IoT products but also support the rapid deployment and launch of RWA (Real World Assets) projects.

Chirp provides connectivity for IoT devices, enabling devices from different manufacturers and with different wireless technologies to communicate with each other, breaking down the technical barriers in traditional IoT. Through these connections, devices can exchange large amounts of data and seamlessly integrate with blockchain, providing developers with a more stable and efficient infrastructure. Whether using Wi-Fi, Bluetooth, LoRa, or other wireless technologies, devices can communicate through the Chirp network, greatly improving device compatibility and interoperability.

3. Kage Mining Game: Community-driven Geolocation Database

In addition to IoT connectivity, Chirp is also developing the world’s largest geolocation database. This database is designed to support the implementation of services and applications such as indoor navigation. Kage is a project that combines IoT and gaming elements. By participating in mining, players can not only contribute data to the database but also earn CHIRP tokens.

The innovation of Kage lies in its use of the power of the community to collect and organize geographical location information worldwide, providing more accurate positioning services for IoT devices. Kage will become an important bridge between the Internet of Things and real-world assets (RWA), promoting the development of IoT technology towards greater precision and intelligence.

CHIRP token economics

CHIRP is the core driving force of the Chirp ecosystem, and all participants (including miners, developers, and users) interact and are rewarded with CHIRP tokens. In the token economic design of CHIRP, seven main types of stakeholders have been identified. The behavior of each stakeholder during the token economic cycle may have a significant impact on the entire token economic model. The following are the types of stakeholders and their roles in the Chirp network:

Source:https://docsend.com/view/tnf3ej7jqnm74aut

1. Token Functionality

The CHIRP token has four main functions in the Chirp ecosystem:

1. Network Usage Right: Participants can use CHIRP tokens to pay for network access fees and enjoy the IoT connectivity services provided by Chirp.
2. Rewarding Network Participants: Miners contribute to the network by providing network coverage, scanning environmental data, etc., and receive CHIRP tokens as rewards.
3. Participate in ecological governance: Users holding CHIRP tokens can participate in Chirp’s ecosystem governance voting and provide suggestions for the future development direction of the project.
4. Access a wider ecosystem: CHIRP tokens can also be used to access other services and applications within the Chirp ecosystem, such as connecting with RWA projects.

2. Token Supply and Distribution

The total supply of Chirp is 300 million CHIRP tokens, with a token ratio of 12.45% during the TGE stage. The remaining 87.55% of tokens will be gradually unlocked in the future. Gate.io spot will list CHIRP on January 20, 2024, with an early lock-in.https://www.gate.io/trade/CHIRP_USDT

Source:https://docsend.com/view/tnf3ej7jqnm74aut

The distribution of tokens will be adjusted according to different roles, including:

• Network miners (30%): Users providing network coverage will receive token rewards based on the conditions, accessibility, and connection to the network of their gateway.
• Ecological Growth Pool (15%): Used to incentivize the growth of the ecosystem, including user adoption, adjustments to reward mechanisms, market changes, and technological innovations. This allocation pool does not have preset rules but is adjusted according to demand. The first beneficiary of the ecological growth pool is the users of the Kage application, who obtain token rewards by scanning wireless networks.
• Strategic Supporters (16%): Key stakeholders who initially supported the development of the Chirp network and will receive an initial token supply based on their financial support for the project.
• Token Treasury (17%): Mainly used for fund operation, marketing activities, support for daily operations, development, and network maintenance, etc. The token treasury is managed by the treasury in the protocol and allocated according to the predetermined plan.
• Token Liquidity (5%): Pre-minted tokens will be used to provide liquidity, such as exchange listings, market making, and responding to sudden liquidity needs.
• Chirp Team (15%): The team’s token allocation will be gradually released over a longer period of time to ensure the team’s long-term commitment and alignment with the project’s goals.
• Advisor (5%): The token allocation for advisors is consistent with the Chirp team to ensure appropriate incentives.

For specific unlocking time and ratio, please refer to the figure below:

Source:https://docsend.com/view/tnf3ej7jqnm74aut

How to participate in the Chirp ecosystem

1. Become a Chirp miner
To be part of the Chirp network, users need to purchase and install Chirp miners. By installing the miners outdoors and connecting them to the Chirp network, users can start mining CHIRP tokens. During this process, miners can not only earn tokens through mining, but also contribute their efforts to expand the coverage of the Internet of Things network.

2. Participate in Kage game
Kage Games is another interesting way in the Chirp ecosystem that allows users to contribute data to the Internet of Things network and earn rewards while enjoying the game. Through Kage Games, players can use their smartphones to scan and explore new geographical locations, helping to build a global geolocation database.

Source:https://x.com/ChirpDeWi

3. Develop decentralized applications (dApps)
For developers, Chirp provides a powerful set of tools to help them quickly build IoT applications and seamlessly integrate with blockchain. Developers can focus on the functional design of their applications without worrying about complex IoT device management issues.

Summary

Chirp is not only a blockchain-based Internet of Things ecosystem, but also an important platform for promoting the development of the Internet of Things and the implementation of Real World Asset (RWA) projects. Through decentralized physical infrastructure network (DePIN) and a powerful toolchain, Chirp provides an innovative and sustainable solution for developers, miners, and users. Whether participating in mining with mining machines or participating in Kage games, Chirp provides every user with an opportunity to earn rewards and promote the construction of a global Internet of Things network. With the continuous development of the Chirp ecosystem, the future Internet of Things will become more intelligent, interconnected, and decentralized.