CatNIP is the base cryptocurrency of a decentralized ecosystem on the Binance Smart Chain. NIP comes from the currency contract CatNIP. NIP has tokenomic protocols employed to boost the value and liquidity of the token. Each transaction of NIP takes a 5% tax to further the value of NIP. CatNIP has a permanent supply with no burning and no minting. There is no Staking or Farming mechanism which allows for more NIP to be created. The NIP Smart Contract is governed by a Multisig Gnosis Safe which is owned by the CatNIP Team. The CatNIP currency contract is not a proxy and cannot be upgraded. This means the code cannot be changed. The Multisig Gnosis Safe is used to distribute team payments and to pay for marketing. NIP is not intended to be a short-term release; this is a long-term project that will have many updates going years in the future.

CatNIP will be used for minting many types of NFTs. Each NFT will have different mechanics depending on where the NIP consumed goes. NIP will be used for minting game-based NFTs. The CatNIP games will be of a variety of genres that allow users to play and interact with these NFTs. The premier CatNIP game will be a ‘Cat Battler’game. When NIP is used to purchase an NFT for a game, a % of the NIP received goes back to the holders of NIP and to the team.

In the future, using NIP to consume NFTs will serve a wide variety of purposes such as a NIP NFT marketplace, bridging to other DeFi networks, DeFi partnerships, and more. In the far future, NIP will also attempt to provide a subjective oracle system using a court system. As the NIP project continues, new ideas will be considered and implemented. NIP is backed by an experienced management and development team that is always considering different cryptocurrency projects that can be created with NIP as the core currency.