# Wildroom

## CHIMP (Chimp Money Token) <a href="#low-lo-fi-token" id="low-lo-fi-token"></a>

**$**&#x43;HIMP token is designed to be used as a **medium of exchange**. The **built-in stability mechanism** in the protocol deterministically **expands and contracts** the CHIMP supply to **maintain the $**&#x43;HIMP **peg to 1 BANANA in the long run**. $CHIMP is an algorithmic token with a peg **actively maintained by a smart contract.** It **does not mean** it will be valued at 1 **BANANA** at all times as it is not collateralized and will be subject to a certain level of volatility.

### CHIMP Distribution (Boardroom) <a href="#low-distribution-boardroom" id="low-distribution-boardroom"></a>

The Distribution of CHIMP during **Epoch Expansion** is as follows:

1.**65%** as Reward for **$SMOOTHIE** Stakers in Boardroom

2.**30%** goes to DAO Treasury

3.**5%** goes to Dev Allocation

If there are **bonds** to be redeemed, **65%** of minted CHIMP goes to Treasury until it's sufficiently full to **meet bond redemption**. If there is **no debt (BOND)**, it will follow the **maximum** capped **expansion** %.

### **How do the Algorithmic Peg works?** <a href="#how-the-algorithmic-peg-works" id="how-the-algorithmic-peg-works"></a>

#### **When** CHIMP **is below peg** <a href="#when-low-is-below-peg" id="when-low-is-below-peg"></a>

When CHIMP price is **below BANANA Current Market Price** (peg), Token Holders can **purchase** CHIMP **Bond (APEBOND)** and CHIMP be **burnt** to **reduce** the total circulating **supply** when Bond Holders redeem CHIMP token with a 1:1 ratio.

#### **When** CHIMP **is above peg** <a href="#when-low-is-above-peg" id="when-low-is-above-peg"></a>

When CHIMP price is **above BANANA Current Market Price** (peg), the token **supply** will have to **expand** to push it back down to peg and the contract will **allow the redemption of the $SMOOTHIE(SHARE)**. When the price of CHIMP continues trading above the **BANANA** Current Market Price (peg) **after bond redemption**, the contract **mints** an appropriate amount of **new** CHIMP and this will be **distributed** to the **$SMOOTHIE Stakeholders in the Boardroom**.

## **$SMOOTHIE(SHARE)** (CHIMP Shares) <a href="#slow-lo-fi-shares" id="slow-lo-fi-shares"></a>

**$SMOOTHIE** is one of the ways to measure the **value of the** CHIMP **Protocol** and **Shareholder Trust** in its ability to maintain CHIMP **close to peg**. During **epoch expansions** the protocol **mints $SMOOTHIE** and **distributes** it proportionally to all **$SMOOTHIE stakers** in the **Boardroom**.**$SMOOTHIE** Holders have **voting rights** (governance) on **proposals** to **improve** the **protocol** and future **use cases** within the CHIMP **finance ecosystem**.

### **$SMOOTHIE Distribution (Farms)** <a href="#slow-distribution-farms" id="slow-distribution-farms"></a>

**$SMOOTHIE** has a **maximum total supply of 60,001** tokens&#x20;

**DAO Treasury (**&#x43;HIMP **Reserve)** acts as the **second line of defence** on top of the Bond Mechanism controlled by CHIMP Core Team to conduct the following actions:

* Investment (Growing Treasury)
* Strategic Buybacks (Stabilize Protocol)
* Marketing
* Building Protocol Utility
* Protocol Expansion

**In a later stage, DAO Treasury will move to a governance system to vote on using funds in certain areas of the project including investment, marketing etc.**

## APEBOND(CHIMP Bond) <a href="#blow-lo-fi-bond" id="blow-lo-fi-bond"></a>

**APEBOND** main job is to help **incentivize** the changes in CHIMP supply during an **epoch contraction period**. When the TWAP (Time Weighted Average Price) of CHIMP **falls below 1 BANANA**, **APEBOND** will be **issued** and can be **bought with the current** CHIMP **price**.

### **Purpose of buying APEBOND (exchanging** CHIMP **for APEBOND):** <a href="#purpose-of-buying-blow-exchanging-low-for-blow" id="purpose-of-buying-blow-exchanging-low-for-blow"></a>

1. &#x20;Burns **$**&#x43;HIMP tokens
2. Takes **$**&#x43;HIMP out of circulation (deflation)
3. &#x20;Helps to get the **$**&#x43;HIMP price back up to the peg (above 1 **BANANA**).

**Rationale:** Buying **APEBOND** addresses CHIMP inflation issue and CHIMP sell pressure to help to push CHIMP back above the peg. This **APEBOND can be redeemed** for CHIMP when the **price is above the peg** in the future. Investors who are here for the **long term** and are **bullish on $**&#x43;HIMP **and BANANA** can choose to **hold APEBOND longer** as the **premium** gets **higher** when $CHIMP **TWAP increases** over time. Contrary to early algorithmic protocols, **APEBOND** **does not** have expiration dates on redemption **$**&#x43;HIMP. All **APEBOND Holders** are able to **redeem** their **APEBOND** for CHIMP as long as the **Treasury** has a **positive** CHIMP **balance** which typically happens when the protocol is in **epoch expansion periods**.