Today Chives Coin launched on the LBank cryptocurrency exchange and is trading live. They seem to have taken the opposite strategy to HDDCoin when it launched on XT.com for 3 USDT / HDD and launched at a very low 0.001 USDT / XCC with the plan to “let the market decide”.
This is another big day for the Chia Fork alt coin community. Chives uses the Chia codebase as a starting point but is a different beast entirely without even supporting K32+ Chia plots. Because of this it is its own project and sits a little bit apart from the pack of cookie cutter Chia Forks. Because of that fact their netspace is comparatively very small to Chia or other forks but is not made up of co-farmed plots. Their netspace is only 235PB right now, but without the risk of a large existing Chia farm simply taking over.
We shall see if the Chives listing goes well. So far it seems to be, and the strategy of launching very low has prevented people from simply offloading their holdings in one fell swoop – which was almost certainly the point. It is currently trading at just under 0.05 USDT which sounds low, but Chives has 180 XCC per block reward instead of 2. So the actual block price is pretty close to $10 right now, which is phenomenal. I hope the Chives team is proud of their accomplishment, and isn’t about to unload their bags and disappear. I highly doubt it, but in this space you always need to stay diligent.