What is Chi gastoken?

The Chi Gastoken is an ERC20-standard token that is meant to be used on 1inch exchange to pay transaction costs. The idea is similar to the GasToken token concept but it has some improvements. Chi is pegged to the Ethereum network’s gas price. When the gas price is low, the Chi price is also low, and the opposite.

What is the difference between Chi and gas token?

Just like GasToken, Chi is tokenized gas on the Ethereum network. The only difference is that Chi is used on 1inch and Curve, while GasToken is used across the entire Ethereum network. Buying (minting) Chi saves you 1% in comparison with minting GasToken (GST2). The selling (burning) of Chi saves you 10%, compared with GST2.

Is there a correlation between Chi gastokens minted & price?

There is no correlation between the number of Chi gastokens minted (total supply) and its price, as Chi minting is available to anyone at any time. This token was designed to be destructed for the refund. However, after its launch, Chi will begin to trade on secondary markets where its price is defined by demand.

Does 1inch have a gastoken?

It has been almost two months since 1inch launched its own gastoken — Chi. The innovative project placed first at DeFi’s “Hack Money” event in May and then quickly became available to users. Since then, we have been closely watching the performance of this token.