March 5, 2019
Table of Contents
Crypto E-Commerce Adoption
Case Study: Cashless Society in China
Case Study: Hublot’s Bitcoin Watch
Crypto Ecommerce Development
Inspiration for Chimpion
Looking to the Future
Appendix 1: BNANA Bounty – Detailed Breakdown
Appendix 2: Network Diagram
Appendix 3: Merchant Workflow
Appendix 4: Chimpion Merchants
Chimpion’s mission is to create a blockchain-enabled economy by empowering merchants to adopt e-commerce through digital currency.
Since its 2009 release, Bitcoin (BTC) has sparked the next evolution in the way we transact. With e-commerce gaining a significant presence in recent years, demand for cryptocurrency payment processors has been significant. Third-party applications have bridged the gap, but it has been impractical for most merchants to accept crypto payments online due to the lack of dedicated crypto e-commerce infrastructure. Until now.
Chimpion provides merchants with a simple yet sophisticated cryptocurrency payment system with a custom e-commerce and settlement backend. Through Chimpion’s innovative technology, merchants can launch full-fledged e-commerce storefronts and accept cryptocurrency payments online, with the option to set the coin of their choice as the base currency denomination. With a built-in incentive program and dedicated wallet, Chimpion gives businesses a seamless connection to the world of digital commerce.
Chimpion merchants can upload products and have listings displayed with cryptocurrency as the base currency denomination without any additional plugins. Through our advanced API, cryptocurrency prices are updated in real time exchange rates.
With ongoing trade wars, unpredictable inflation, and fluctuating interest rates, e-commerce can be inconvenient for merchants with international supply chains. Chimpion offers merchants income stream flexibility, regardless of whether they deal in fiat or crypto.
Ultimately, Chimpion’s vision is to empower businesses and consumers to thrive in the blockchain-enabled global economy. By simplifying the process of selling with cryptocurrency, Chimpion is making it easy for businesses to take advantage of the benefits of selling with cryptocurrency. Crypto e-commerce allows merchants to avoid high payment processing fees and long delays that come with traditional e-commerce.
As you have likely noticed from the table of contents, Chimpion’s white paper is not a typical crypto white paper. That’s because Chimpion is not like any other cryptocurrency project. While most crypto projects seek funding to build their platform, Chimpion’s robust crypto e-commerce platform has already been developed and deployed.
Built using proven technology from Shopping Cart Elite, Chimpion is fully primed to revolutionize e-commerce. In fact, numerous merchants in the United States have already adopted Chimpion’s platform to accept cryptocurrency payments, including Marks Jewelers, Mahone’s Wallpaper Shop, NewParts, Rosetta Coffee, and many more.
Chimpion’s platform is already here and ready for you to use.
Chimpion is derived from the word “champion”, to signify both the coin’s superiority over incumbent cryptocurrencies and the organization’s core mission of championing the adoption of crypto for e-commerce. The word “champion” has a similar pronunciation in many widely-spoken languages, making Chimpion a highly relevant name to numerous cultures. Monkeys have historically played an important role in both Chinese and Indian culture.
The chimpanzee was chosen as a mascot to represent Chimpion because of the species’ association with exploration, being one of the first animals to travel into space. Likewise, Chimpion is pioneering a new era of transacting by driving the adoption of cryptocurrency for e-commerce.
Chimps are also known to be highly intelligent compared to other animals, even surpassing human memory of numerals in some cases, which symbolizes the benefits of a blockchain-enabled economy. Highly community-focused and even capable of empathy, altruism and self-awareness, the chimpanzee is a fitting symbol for Chimpion, which aims to drastically improve the way humans exchange value.
About Banana Token (BNANA)
Banana Token (BNANA) powers our merchant storefronts and e-commerce ecosystem. It is the bounty incentive to onboard merchants in an effort to drive adoption and can be used by shoppers as payment currency. BNANA can also be earned as a reward through purchases from Chimpion merchants.
By holding a predetermined amount of Banana Token (BNANA) in a supported wallet, merchants gain access to Chimpion’s robust crypto e-commerce platform for free, without a monthly subscription fee. Developed by Shopping Cart Elite, Chimpion’s crypto e-commerce platform combines the features of popular e-commerce platforms like Shopify and WooCommerce with the convenience of payment processors like Stripe. Our cryptocurrency storebuilder does not require any additional plugins and will be further enhanced with future dApps.
Chimpion also functions as a payment processing system and checkout method, similar to Stripe. Unlike with Coinbase and BitPay, Know Your Customer (KYC) processes are not necessary, as merchants can choose to either settle their funds in cryptocurrency or automatically sell for their preferred stablecoin with assured privacy. The following stablecoins are supported: USDT, TUSD, USDC, GUSD (NYDFS-approved), and PAX (NYDFS-approved).
Chimpion’s primary goal is to grow the adoption of cryptocurrency as a payment solution by creating a rich e-commerce platform centered on digital assets. We look to not just onboard merchants, but also to create partnerships with the core teams of established crypto projects. Through Chimpion, new startups and established merchants alike can utilize our vast network and propose their business concepts to various cryptocurrency projects. If core teams do not take notice, Executive Diamond Node holders can vote to select that project to receive funding.
As an example, take the following scenario:
Carlos wants to start a dress shirt brand by launching a Litecoin-denominated storefront through Chimpion, where all products are listed at 1 LTC regardless of price volatility. He wants to cater to the Litecoin community so he buys a given amount of BNANA and submits a proposal to receive funding. Carlos needs $20,000 as initial capital and a $5,000 monthly allowance. The Chimpion community votes in favor of his project, so he receives the funding in BNANA and his storefront is listed in the Chimpion directory. Charlie Lee, founder of Litecoin, takes notice and promotes Carlos’ business to his 700,000 Twitter followers.
By pairing the right concept with the right core team, Chimpion creates an ecosystem where real businesses selling physical goods and services will help drive the adoption of various cryptocurrency projects, benefiting everyone – merchants, developers, and investors.
Our target audience consists of three customer types including cryptocurrency core teams, merchants wanting to accept crypto, and customers paying with crypto.
The Chimpion network will be secured with 256 bit SSL encryption and advanced security measures will be taken to ensure privacy and data protection. The Paytomat centralized merchant dashboard and Shopping Cart Elite databases will remain on Shopping Cart Elite-hosted servers and the database vault will be hosted on Amazon EC2 for the duration of 2019. In 2020, the database vault will be migrated to the Chimpion blockchain.
See Appendix 2 for a detailed diagram of Chimpion’s network architecture.
Chimpion Use Cases
Chimpion was developed with the central objective of making it useful in the real world. Below are just a few of the potential applications for Chimpion:
International E-Commerce in Emerging Economies
Cryptocurrency use has surged in emerging markets like Venezuela and Nigeria, where fiat currency can be volatile and many people do not have access to traditional bank accounts. Due to high transaction fees, lack of security, and complicated processes, it can be difficult for merchants in these nations to sell online, which limits their revenue opportunities.
With Chimpion, merchants anywhere in the world can set up an crypto e-commerce store with ease and start selling with very little initial investment required. BNANA is a fast, accessible, secure coin that will make transactions more efficient.
Avoiding Chargeback Fraud
Sometimes merchants are apprehensive when there is something strange about a purchaser. For example, if an order is placed under the name “Elvis Presley”, the merchant may be concerned that the payment will bounce as a chargeback after the item is shipped. It can be particularly difficult for this Elvis Presley to convince merchants he is a legitimate person who shares a name with a well-known celebrity.
With Chimpion, cryptocurrency payments are processed immediately, allowing the merchant to mail the product to Mr. Presley without worrying about a chargeback.
Some wholesale vendors prefer to sell with crypto, saving significant costs by avoiding expensive transaction fees, making international transactions simpler, and expediting order processing time. Chimpion vendors can choose whether to receive payment in BNANA or have it automatically converted to the stablecoin of their choice.
Our team has been involved with every aspect of cryptocurrency and has extensive e-commerce experience
To access Chimpion’s e-commerce service, all that merchants need to do is stake BNANA, essentially a deposit that they own.
Our team has been involved with every aspect of cryptocurrency and has extensive e-commerce experience
Merchants can set automatic conversion to a chosen stablecoin;
Wallet has already committed to supporting BNANA; additional wallets and exchanges will be pursued for support.
Each store will be part of a global network of Chimpion stores, creating opportunity for cross-promotion
Benefits of Using Chimpion
Access customers who are holding and
actively trading cryptocurrency
Marks Jewelers sells diamonds and jewelry to
crypto holders who want to liquify their assets.
Improve search engine optimization
Mahone’s Wallpaper Shop attracts attention from
crypto news sources by accepting crypto payments,
increasing their domain authority, which improves
|Avoid chargeback fraud
NewParts no longer needs to worry about selling to
customers whose payments may bounce.
Capitalize on high yields by purchasing
real products (rather than the hassle
and expense involved in selling coins
for Bitcoin, withdrawing Bitcoin to a
crypto-to-fiat exchange, selling it for
fiat, and transferring fiat to their bank
Bitcoin Diamond (BCD)'s price increases, so customers
use their coins to purchase a new Apple Watch
from BCD Bazaar (BCD’s Chimpion-powered store).
|Access exclusive vendors worldwide||
Customer in Cuba purchases automotive part from
Canadian vendor on Chimpion-powered store.
|Earn BNANA Tokens through loyalty||
Customers who purchase frequently from stores
powered by Chimpion accumulate BNANA.
Increase usability, value, and liquidity
of coin through crypto e-commerce,
leading to increased adoption.
Bitcoin Diamond (BCD) Foundation wants to
promote widespread adoption of BCD; creates BCD
Bazaar through Chimpion to create more use cases.
Banana Token will be distributed through a community-driven project, where coins will be earned through bounties that advance the project.
Total Supply: 100,000,000,000 BNANA
Integrate Chimpion to BCD Pay Wallet.
Launch CHIMP Academy to assist small
business owners in launching thier own crypto e-commerce storefronts.
Launch Chimpion e-commerce platform and onboard 25 businesses not already accepting cryptocurrency payments, Leading to a 2019 total of 125.
Enter Asian e-commerce market, which are untapped by industry leaders (Shopify, BigCommerce, WooCommerce); launch 25+ new stores
Roll out cryptocurrency-denominated stores for the major cryptocurrencies and release 25 additional websites focusing on these cryptocurrencies .
Implement one-click sync to Chimpion store from Shopify, eBay, Aliexpress and Amazon, making it easy for Chimpion merchants to add their existing inventory to their crypto e-commerce store.
Enter European and Middle Eastern E-commerce markets; launch 25+ new stores
Release Chimpion Wallet; integrate MoonCatcher's crypto trading platform with Chimpion Wallet and BCD Pay Wallet
Enter South American and African e-commerce markets; Launch 25+ new stores
Help merchants and vendors Launch their own token economies on the Chimpion platform and sell their products with their own token
Add plugins for eBay migration, Amazon import,and inventory control, all built by Shopping Cart Elite; available for free use to all BNANA holders with dedicated support, free themes, and more
Migrate data vault from Amazon EC2 to Chimpion block chain
Partners Executive Summary
Shopping Cart Elite
At the core of Chimpion is its e-commerce platform, developed under an exclusive license from enterprise e-commerce company Shopping Cart Elite. The platform is customized for the nuances of selling with cryptocurrency and makes it simple for any merchant to use, even if they deal exclusively in fiat currency.
Since 2009, Shopping Cart Elite has empowered small and medium-sized businesses to sell online, offering enterprise features at small-business prices. In recent years, Shopping Cart Elite and its affiliates have entered the cryptocurrency industry, working closely with top crypto organizations including Bitcoin Diamond and Bitcoin Gold.
Leveraging insights gained from this extensive experience, Shopping Cart Elite has developed its fully functional crypto e-commerce platform. The platform is already being used by retailers such as Marks Jewelers, Mahone’s Wallpaper Shop and Rosetta Coffee, as well as by Bitcoin Diamond as the basis for BCD Bazaar.
MoonCatcher is a quantitative cryptocurrency trading platform, currently in private beta. It will be accessible directly through an integration in the Chimpion Wallet, where anyone staking Chimpion can trade cryptocurrency using expert trading strategies.
Through rigorous testing, MoonCatcher has proven to make profitable trades over a long period of time, even in bear markets. Before offering a trading strategy to the public, Mooncatcher backtests each strategy against months of historical data. This data is based on trading and order book data from the top 50 cryptocurrencies since January 2018, an unparalleled level of depth. The software also aggregates the crypto market as an index and can trigger a stop-loss order if the market as a whole starts to drop. Fees are only charged on trading profits and holdings can be converted to stablecoin and withdrawn at any time.
One of the greatest deterrents for everyday use of cryptocurrency is its volatility. For example, the price of Bitcoin rose from $10,000 on Nov. 16, 2017, to over $19,000 just a month later, and dove below $10,000 again by Feb. 6, 2018. While this level of volatility was partly due to ultra-speculative investors and is unlikely to occur again at the same scale, cryptocurrency is still in an early adopter phase, so it is expected to remain volatile for awhile. This volatility was previously a major barrier to crypto e-commerce. However, the issue of volatility has been addressed by the emergence of stablecoins, which are backed by a more stable asset, such as the US dollar, gold, or another commodity.
Gemini Dollar (GUSD) is one of Chimpion’s supported stablecoins and holds the distinction of being the world’s first regulated stablecoin. It is approved by the New York State Department of Financial Services (NYDFS) and backed by US dollars held at the State Street Bank and Trust Company. Merchants can set Chimpion to automatically convert funds received to GUSD (or another supported stablecoin), ensuring that their assets are not affected by market volatility. This effectively reduces the risk of doing business in cryptocurrency to that of doing business in US dollars.
In addition to GUSD, Chimpion supports several other USD-backed stablecoins, including Tether (USDT), True USD (TUSD), USD Coin (USDC), and Paxos Standard Token (PAX), the latter of which is also approved by NYDFS.
Support for Chimpion
"We're excited to see Shopping Cart Elite's adoption of the Gemini dollar. We believe the use cases for GUSD extend significantly beyond the traditional cryptocurrency markets and have the ability to transform payment processing, including e-commerce."
Sarah Olsen, Head of Business Development Gemini
"For nearly 50 years, Mahone's has been Lynchburg's go-to store for fine wallpaper and home decor products. Now, we're ready to go global.
Thanks to our partnership with Shopping Cart Elite, we will be accepting payments in seven of the top cryptocurrencies. We're excited about this because it gives our customers more flexibility3 and makes online payments much faster and easier for us."
Patrick Mahone, CEO Mahone’s Wallpaper Shop
Chimpion in the Press
Since the early days of e-commerce, when Amazon and eBay were in the early stages of their meteoric rise, e-commerce has become a massive industry. In 2018, retail e-commerce sales alone totaled $2.3 trillion. On top of that, B2B e-commerce was responsible for $7.7 trillion in sales. Currently, e-commerce stores account for 32.7% of the top one million sites by traffic, indicating that the e-commerce movement is in full swing.
Shopify (NYSE: SHOP) and WooCommerce (owned by Wordpress owner Automattic) are the most prominent players in the e-commerce industry. Since Shopify’s 2015 IPO, the number of Shopify stores has skyrocketed to more than 700,000 unique stores. Three years after the IPO, Shopify’s stock price had climbed by more than 500%, pushing its market capitalization above $15 billion
Meanwhile, WooCommerce has expanded its international presence, entering several national markets that Shopify has not. It too has seen recent growth in usage, with more than 3.2 million stores using WooCommerce elements.
As more people begin to shop online and the industry matures, the need for faster transactions, lower fees, and more accessibility increases. The emerging world is becoming more connected than ever, with an average of 59% of national populations owning smartphones.
The problem is that e-commerce is often not friendly to small business. Security issues, payment delays, and expensive fees plague merchants trying to sell online and it is needlessly difficult to sell to international markets.The problem is that e-commerce is often not friendly to small business. Security issues, payment delays, and expensive fees plague merchants trying to sell online and it is needlessly difficult to sell to international markets.
These payment issues have not gone unnoticed, as evidenced by the recent demise of the once-mighty Paypal. In 2016, Paypal’s usage growth plateaued and has steadily declined since 2017, even despite the rise of e-commerce. In early 2018, longtime partner eBay announced that it was cutting ties with Paypal, leading to a 12% drop in share price. Coincidentally, this move comes just before the Bitcoin block reward is cut in half in 2020, which has historically led to a bull market for the world’s most prominent cryptocurrency. This could indicate a threat to centralized payment providers like Paypal.
Crypto E-Commerce Adoption
Since the advent of Bitcoin in 2009, cryptocurrency has rapidly emerged as the next evolution in the way humans transact. It serves all the same functions as fiat currency, while being faster and less expensive to use, more secure, more transferable across international boundaries and, in some cases, more immune to inflation.
The world has recognized the immense potential of cryptocurrency, driving the total market capitalization to a high of $818 billion in December 2017 and subsequently correcting above $200 billion. Wall Street financial institutions have forayed into cryptocurrency while blockchain has become one of the hottest topics of discussion in technology circles.
The adjacent table shows the sheer amount of Bitcoin (BTC)’s daily trading volume by country on September 27, 2018. Using this data, Chimpion plans to show merchants how widespread cryptocurrency has become and help these merchants reach this massive market by opening a crypto e-commerce store.
|Currency ||Country ||Population ||BTC Traded ||USD Value ||Internationally, trade volume is growing rapidly as merchants and customers alike adopt cryptocurrency. As adoption increases, liquidity improves, making cryptocurrency an even more attractive option. As cryptocurrency becomes increasingly popular in these nations, wholesale merchants may want to accept crypto payments from their own customers. This offers numerous benefits, including lower transaction fees, faster transactions, and access to a broader network of potential customers and suppliers.|
Case Study: Cashless Society in China
The world’s second-largest economy has become almost entirely cashless, as the vast majority of China’s urban population has adopted mobile payment apps. In 2016, the Wall Street Journal reports, mobile payments in China totaled $9 trillion, nearly matching the $10 trillion in cash payments. In the same article, a visitor to Beijing remarks at the “seamless use of phones as wallets” for transactions that are complete within three seconds.
Mobile payments have become second nature to most Chinese citizens, resulting in a $60 billion drop in annual banking fees by 2020, as projected by EY. Urban China prefers paying via mobile phone not only for its convenience, but also because it is secure and prevents counterfeit transactions. Yet the current system relies on subsidies for WeChat Pay and Alipay from China’s central bank, which may be temporary if capital controls and interest rates are relaxed, writes MIT senior advisor for blockchain research, Michael J. Casey. The mobile payment platforms are built on the Chinese banking system and use is effectively restricted to those with Chinese bank accounts.
As a decentralized cryptocurrency, Chimpion eliminates this issue while matching the service capability of WeChat Pay and Alipay. This will create the opportunity for any nation to replicate China’s cashless economy without such close government intervention. Following Chimpion’s launch, governments and central banks will be approached with the prospect of allowing merchants to accept crypto and immediately exchange their tax dues into a government backed national stablecoin.
As evidenced by China’s gravitation towards decentralized digital cash and rapid worldwide adoption of Bitcoin, the future of e-commerce lies with cryptocurrency. Yet to make crypto e-commerce truly successful, there needs to be infrastructure that allows any merchant in the world to accept cryptocurrency without advanced technical knowledge.
Case Study: Hublot’s Bitcoin Watch
In November 2018, Swiss luxury watch brand Hublot released the Big Bang Meca-10 P2P, a limited edition Bitcoin-inspired watch. The $25,000 timepiece could only be purchased via e-commerce using Bitcoin (BTC). Each unit was engraved with the unique transaction number.
“This is the kind of dynamism and innovation that our partners in Asia delight in. It is a visionary approach that fully corresponds to Hublot’s vision,” said Hublot CEO Ricardo Guadalupe.
Cryptocurrency mogul Changpeng Zhao also took notice, praising the concept of crypto e-commerce. “While you can target [a niche market with fiat currency], in crypto, you get 180 countries at the same time. 180x! Easy decision.”
Known to the crypto community as CZ, Zhao is the CEO of Binance, the world’s largest cryptocurrency exchange. Since founding Binance, it is estimated that Zhao’s net worth has climbed to $1.4 billion.
Chinese tech giant HTC also made waves in 2018 by launching the Exodus 1, a smartphone that could only be bought with BTC or Ethereum (ETH).
Crypto Ecommerce Development
Veteran e-commerce platform Shopping Cart Elite recognized this opportunity early and has since partnered with top crypto influencers, including Bitcoin Diamond (BCDPay) and Bitcoin Gold (BTGPay), to make crypto e-commerce viable. In November 2018, Shopping Cart Elite announced it would be donating the code for its cryptocurrency version to Chimpion, in an effort to catalyze global adoption of crypto e-commerce.
“We decided to develop an e-commerce platform for businesses to accept crypto because nobody was doing it on a large scale,” said Shopping Cart Elite CEO Igor Soshkin, who has been involved with numerous high profile cryptocurrency projects in the past.
“In the process of developing our e-commerce platform, we realized that there is huge consumer demand to use cryptocurrency to pay for goods online. We decided to donate the code for our crypto e-commerce platform to Chimpion, and let Chimpion drive the movement for cryptocurrency to become part of people’s everyday lives across the globe.”
Above all, the goal of Chimpion is to foster the success of e-commerce through a community-driven project in which anyone can participate. As an early pioneer of crypto e-commerce, Chimpion is ready with a clear go-to-market strategy. Because the software is already developed, BNANA will not launch an initial coin offering (ICO) to raise funds in exchange for coins. We have already built a working infrastructure and we are now simply integrating blockchain to our platform to enrich the network with future dApp development and the ability for merchants to tokenize their business.
In 2019, Chimpion’s mission is to onboard hundreds of select merchants to accept cryptocurrency payments, advancing beyond traditional retail methods.
Inspiration for Chimpion
Shopify is one of the world’s leading e-commerce platforms, with 700,000 active stores. It earned revenues of $580.9 million in 2017 and its user figures have steadily increased since its 2015 IPO.
Taking inspiration from Shopify’s success, Chimpion targets the emerging crypto e-commerce segment. Through crypto-denominated storefronts, Chimpion allows e-commerce merchants to reach markets not supported by Shopify and overcome the limitations of fiat.
Storiqa raised $25 million from their ICO sale to build a marketplace exclusive to STQ holders through smart contracts. The interface is similar to eBay and has a very clean look. Storiqa allows merchants to offer STQ back rewards similar to cashback.
Chimpion’s “cryptoback” loyalty program for consumers is centered around Banana (BNANA). Chimpion’s infrastructure allows Storiqa supporters to launch storefronts on Chimpion with STQ as the base currency denomination with easy product migration and inventory sync from existing channels.
OpenBazaar attracted $4.2 million in funding to build a free online marketplace without platforms or restrictions. Products can be listed in multiple cryptocurrencies and can be priced at fixed amounts with crypto as the base. OpenBazaar’s escrow feature helps to resolve disputes.
Merchants who launch their stores on Chimpion have high search engine optimization and will increase in ranking as part of our ecosystem. The Chimpion team connections to news sources and merchants in the Chimpion directory will be featured by news outlets.
Cryptonize.it is dedicated to Bitcoin Cash (BCH) supporters, allowing them to spend BCH on anything from Amazon, along with some unique exclusive items from their private vendors. Products are denominated in both BCH and USD.
Chimpion created BCD Bazaar, which integrates Amazon with a custom shopping platform dedicated to the Bitcoin Diamond community. Merchants can apply to sell on BCD Bazaar and can even launch their own crypto store with customizable products and any cryptocurrency as the base denomination.
Purse.io enables cryptocurrency enthusiasts to shop for Amazon products using Bitcoin (BTC) and BCH with a discounted incentive. Purchasing Amazon gift cards is a popular feature on this site and customers can earn crypto by purchasing items for others.
Chimpion created DCC Storefront, which integrates Amazon with a custom shopping platform with DCC as the base currency denomination, also supporting multiple other cryptocurrency projects. The Chimpion core team is currently working with cryptocurrency projects to help them launch their very own crypto stores to bring utility to their community.
Upon rebranding from ZenCash to Horizen, the team launched their branded apparel line. Horizen expanded their scope as a retailer with their very own tangible products, which have now become strongly associated with their cryptocurrency project.
Chimpion as a business enterprise is reverse engineering and is integrating a blockchain to its already successful e-commerce infrastructure. A central Chimpion storefront will soon be launched with a custom product line while also featuring merchants that utilize the platform.
The Chimpion team has significant experience with the development and launch previous major cryptocurrency payment initiatives, including Bitcoin Gold’s BTGPay and Bitcoin Diamond’s BCD Pay and BCD Bazaar. Members of the executive team also have extensive experience in the e-commerce sector with Shopping Cart Elite.
Alex serves as COO of Shopping Cart Elite, a leading e-commerce company. He is spearheading the Chimpion project.
Chimpion has 72 members working across twelve divisions
Omni Channel (2)
Looking to the Future
Chimpion plans to drive crypto e-commerce forward in Asia, the Middle East, and Europe in the same way that Shopify and WooCommerce have done so in North America. By making it accessible for anyone in the world to open an online store, Chimpion will introduce millions of new merchants to the e-commerce space.
This will allow existing merchants to sell internationally, without needing to worry about poor merchant protection from current payment methods like Visa, Mastercard, and Paypal. With Chimpion, merchants can reach brand new markets, knowing that the purchase is guaranteed regardless of the location it comes from.
Chimpion software development is complete and has gone through testing processes. From this point forward, the team will be focused on marketing, awareness, and opening crypto-dedicated stores. These will include stores denominated for each major coin and connected to Shopify, eBay, and Amazon merchant catalogs. Merchants can sell on these stores, paying only for successful transactions.
We also plan to onboard at least 125 merchants to open stores on the Chimpion platform, representing at least 25 different nations. The team will also focus on outreach to government representatives and generating support from the crypto community. During this time, additional dApps and features, such as BNANA credit cards, will be developed to continually enhance the Chimpion ecosystem.
Appendix 1: BNANA Bounty - Detailed Breakdown
|Group||Sub group||Purpose||% of total coins|
|Merchant, community airdrop||Community bounty||Bounty airdrop to community||20.00%|
|Merchant, community airdrop||Merchant's customer airdrop||Give tokens to merchant's customers to entice them to use the coin, and compensate merchant for the loss of profits by asking merchant to give products at discount to attract adaption for their own customers||4.00%|
|Merchant, community airdrop||Merchant bounty||Give tokens to merchants to incentivize them to test it and use it in their store, and compensate them for any integration development||4.00%|
|Merchant, community airdrop||Merchant store creation bounty||Create new stores on Shopping Cart Elite Crypto Edition for new merchants||7.00%|
|Merchant, community airdrop||Video commercials & marketing bounty||Promote new merchants through video contents and paid advertising||10.00%|
|Merchant, community airdrop||Merchant store hosting||Hosting merchants stores||5.00%|
|Merchant, community airdrop||New merchant bounty||Sales team to recruit new merchants||10.00%|
|Foundation payroll||Products support||Offer support for Chimpion products and services||3.00%|
|Foundation payroll||Development||Create new integrations to Chimpion and develop new technology||5.00%|
|Foundation payroll||Community||Provide support on all social channels||3.00%|
|Foundation payroll||Merchant support||Technical and marketing customer support to merchants||2.00%|
|Marketing||Advertising||Promote Chimpion in paid channels to drive more merchants and partners||5.00%|
|Marketing||Press releases||Write and publish press release for each merchant and sponsor them on popular news and blog websites||2.00%|
|Strategy partners||Shopping Cart Elite||Software license and crypto development||4.00%|
|Strategy partners||Paytomat||Wallet, integration, merchant support, new coin support development||4.00%|
|Strategy partners||Bitcoin Diamond||Bitcoin Diamond ecosystem development and integration||2.00%|
|Strategy partners||New partners||Partner ecosystem development||3.00%|
|Strategy partners||Exchanges & wallets||Listing fee and bonus giveaway to exchanges and wallets||2.00%|
|Team and advisors||Legal||Legal advisors, merchant contracts and payroll||2.00%|
|Team and advisors||Lead advisors||Advisors payroll||2.00%|
|Team and advisors||Senior advisors||Advisors payroll||1.00%|
Cryptocurrency organizations who would like to partner with Chimpion can receive bounty towards their coin and community development as a reward from our Strategy Partners budget (3.00% of BNANA). To inquire about a partnership, please contact us at [email protected]
Appendix 2: Chimpion Network Diagram
Appendix 3: Chimpion Merchant Workflow
Vendor > Ambassador > Consumer Business To Consumer
Vendor > Distributor > Consumer Business to Business
Vendor > Ambassador > Wholesale Distributor > Distributor > Consumer Business to Business
Appendix 4: Chimpion Merchants
Mahone's Wallpaper Shop