Businesses & Get Rewarded
Register for Springboard
Chimpion was launched earlier this year with a vision to use cryptocurrency to revolutionize e-commerce. We’ve launched hundreds of online stores for customers, and we want to kick it up a notch by applying our expertise in e-commerce into profitable online businesses that are up for sale by their owner. That is what Chimpion Springboard is all about.
With Springboard, anyone in the Chimpion community rewarded in their preferred cryptocurrency such as:
Welcome to Chimpion
That is what Chimpion Springboard is all about
Inspired by Kickstarter, Chimpion Springboard is a staking platform that connects cryptocurrency enthusiasts with established online businesses. With Springboard, anyone in the Chimpion community can stake their Chimpion Tokens into Chimpion stores and be rewarded in their preferred cryptocurrency such as Bitcoin (BTC), Bitcoin Diamond (BCD), or a trusted stablecoin like Gemini Dollar (GUSD).
Chimpion Springboard will be launched in partnership with Flippa, the trusted #1 platform for buying and selling online businesses in North America. Since 2009, Flippa has sold thousands of profitable online businesses, trading more than $500 million in websites, domains, and mobile apps. Our vision with Chimpion Springboard is to take over profitable businesses that are for sale on Flippa, operate them using our e-commerce software, and promotes them with our tried-and-tested marketing processes. Our online business profits will reward both those who have supported Chimpion Springboard by staking their Chimpion tokens and those who decided to HODL them unstaked.
Chimpion Token (MERCATOX:BNANA) is a utility token that individuals can stake in Chimpion stores to earn rewards, consumers can spend to purchase products from select online stores, and merchants can use to gain access to the Chimpion e-commerce platform
Background on Chimpion
The code for Chimpion’s software was developed by Shopping Cart Elite based on its popular enterprise e-commerce platform. We’ve slightly modified their platform to include an all-in-one e-commerce software with a digital wallet and instant crypto-to-fiat settlements. This enables online businesses to accept cryptocurrency through their online checkout alongside credit cards and PayPal
With more than 250 employees and 130 enterprise customers, Shopping Cart Elite has considerable expertise in online selling and has emerged as a leader in crypto e-commerce even before its contribution to Chimpion.
The company has also partnered with Chimpion to provide a wide array of services – including SEO management, pay-per-click ad optimization, video marketing, and social media management. These will help Chimpion Springboard stores to operate efficiently without unnecessary additional e-commerce software or expensive staffing.
Leading Up to Chimpion Springboard
Leveraging our team’s deep knowledge of e-commerce, Chimpion will identify promising online businesses that are for sale on Flippa. We’ve decided to use Flippa because of its reputation as a trusted third party that will protect Chimpion E-Commerce Launchpad from bad actors.
Flippa verifies the online business that is for sale and publishes financials such as profit and loss statements and verification of the owner through a Know-Your-Customer (KYC) process. The due diligence process involves auditing each business accounting records using their QuickBooks accounting software and interviewing the owners to explain the reason for the sale. Flippa also acts as an escrow between the business owners and Chimpion during the sale process.
Out of the promising businesses identified on Flippa, Chimpion will select three that it believes have the strongest potential for success. Then, a proposal will be published to the Chimpion community on Chimpion Springboard. The proposal will include the acquisition price, marketing budget, expected cash flows needed to operate the business, and expected rewards.
Chimpion advisor Igor Soshkin (CEO of Shopping Cart Elite and a 20-year e-commerce veteran) will break down his analysis of each of the three selected businesses. Igor’s evaluation strategy is explained on Shopping Cart Elite’s YouTube channel, and his operations strategy on its website.
Chimpion Springboard Example “Piper Lou”
Piper Lou, is a business currently up for sale on Flippa. They are a globally recognized brand reporting an EBITDA of $1.5M ($1,500,000) in 2018. Based on Piper Lou’s 2018 profit and loss statement, Chimpion has estimated the company’s value to be $2,500,000 (based on a 1.6X multiple of their net profits for the previous year). Assuming that Piper Lou’s owners would agree to this price, Chimpion would hypothetically propose the following breakdown to the Chimpion Springboard community.
|Chimpion Store Startup Price||Cash / Marketing Projection||Inventory Projection||Total Cap to Fund Chimpion Store||Annual Net Profit Projection|
Chimpion Token Launch Price
|# of BNANA required to stake||(GUSD/BNANA) value of the stake|
|Staker Rewards*||Projected Annual Reward||Projected Annual Reward on Investment|
|Rewards to Stakers**||60% of net profits||$797,147||15.94%|
|Reward to Store Executive||10% of net profits||$132,858|
|Chimpion Tokens Buyback***||30% of net profits||$398,573|
*Note: Rewards are not guaranteed. They are only distributed if net profit is positive.
**Note: “Staker” refers to people who have staked Chimpion Token (BNANA) in this Chimpion store.
***Note: “Buyback” does not refer to tokens being purchased from individual(s), but rather from public exchanges.
|Staker||# of BNANA Staked||GUSD/BNANA Staked at launch price||Reward Breakdown per Staker||Projected Annual Reward|
$797,146.80 paid in BCD/GUSD/other
Staker 11Projected Annual Reward $132,857.80 paid in GUSD
Chimpion Token Buyback on Public Exchange
Staker 12Projected Annual Buyback $398,573.40 USD to GUSD then buyback of BNANA
Chimpion will conduct a vote within the community to select one of the three online businesses, and the winner will be made available on Chimpion Springboard. By staking Chimpion Tokens in the store, holders can help Chimpion acquire the online business and receive rewards for participating in the fundraising campaign.
The collection of funds for each launch will take place on a public exchange. Upon a successful fundraising campaign, Chimpion will use these funds to operate the online business. In the case that the campaign is unsuccessful, individuals are free to remove their stake from the store at any time.
(Note that this is merely used for explanation purposes. Chimpion has not selected nor contacted Piper Lou about candidacy for Chimpion Springboard.)
After a Successful Fundraising Campaign
Individuals who staked Chimpion Token during the launch will be advised to register themselves as stakers. Upon approval, they will be given a wallet address in which to stake their tokens for the Chimpion store.
In partnership with Shopping Cart Elite, Chimpion will assign an executive to lead the newly-acquired store and hire a team to operate the online business. Chimpion will be responsible for publishing a transparency report each month and financial reports each quarter. Chimpion will also be responsible for distributing rewards to the community each quarter.
Chimpion stakers have the option to unstake their Chimpion Tokens twelve months after the original stake date and choose whether to keep it staked, re-stake it into another Chimpion store, hold it, or sell it on an exchange.
Chimpion hopes to democratize e-commerce by involving the Chimpion community in the operation of successful online stores. By submitting feedback through online polls, individuals who have staked their Chimpion Tokens in the Chimpion store will have the opportunity to influence decisions on its future roadmap and appoint or dismiss the executive in charge.
As the latest of Chimpion’s real-world applications, Chimpion Springboard gives you the chance to support real, promising businesses and be rewarded when they succeed. Thanks to backing from Bitcoin Diamond and Shopping Cart Elite, Chimpion has launched many crypto e-commerce stores over the past twelve months. With experience in the e-commerce industry since 2001 and in cryptocurrency since 2016, the Chimpion team is ready to pave the way for crypto e-commerce. We are here for the long haul.