As an ERC20 token, $CHM can be staked on the CoHomies platform, allowing users to earn rewards in the form of additional tokens. This process incentivizes users to hold onto their tokens, promoting long-term investment and active participation in the platform.
In addition to standard ERC20 gas fees, CoHomies will capture a small percentage of the transaction fees to fund platform development and maintenance. This revenue stream ensures the platform's sustainability and long-term success. While a variety of cryptocurrencies and fiat currencies will be accepted, $CHM holders will receive preferential treatment and reduced fees when using the platform.
The $CHM token will act as a governance token. While the specifics are to be determined, this may include features such as: