Launched in January 2022, Chedda is a decentralized culture token that enables people to create and share experiences with each other. Chedda has an overall circulating supply of around 100 billion tokens. But 50 billion tokens were already burned during the prelaunch operations. Each transaction costs 3%, and the remaining 2% goes to the CHEDDA marketing wallet for further improvements of the token itself. By burning half the supply, burning 1% of every transaction will make CHEDDA a deflationary asset. The team of Chedda noted that there will be no additional token supply.
The goal of this strategy is to incentivize holders to hold their tokens for the long term. The Ethereum network is secure enough to allow CHEDDA to be operated seamlessly. Its decentralized nature and the interactions of thousands of independent nodes make it one of the most secure blockchains. The Chedda team has many goals for further development of the project, such as getting 1 billion dollars of market cap, having more than 50 thousand wallet holders, getting listed on the most popular exchange platform, and so on.