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    Anna Key

    Chihuahua: The First Meme Coin in the Cosmos Ecosystem

    ​“To the world Chihuahua is just a dog, to us Chihuahua is the world”

    Chihuahua Logo

    Launched at the end of 2021, Chihuahua is a dog meme coin built on the Cosmos ecosystem. It is a layer 1 fully interoperable with a Proof-of-Stake blockchain, making Chihuahua the first meme coin of such capacity and potential for other decentralised applications to be built on top of it. Despite being a fairly new project, Chihuahua has already implemented a few fundamental principles that establish the perfect ground for further development and recognition.

    Chihuahua Main Features

    Chihuahua is deployed within the Cosmos ecosystem. As mentioned above, the dog meme coin has great interoperability with over thirty Cosmos chains. This is all thanks to utilising the Inter-Blockchain Communication Protocol (IBC) through Cosmos SDK, which allows reliable and authoritative communication between sovereign chains. 

    Chihuahua has introduced its own native token called HUAHUA. The token is used for governing the network by allowing holders to vote on proposals made by the community. It is an essential part of Chihuahua DAO, which is a governing team that helps to organise and promote the expansion of the coin. By staking the token, you are able to help secure and keep the blockchain running smoothly. Additionally, you receive rewards of up to 330% APR and 2100% APY if you continue to stake your coins everyday. Stay up to date with the current HUAHUA stats here.

    Chihuahua is vastly more eco-friendly than Dogecoin and Ethereum, both coins running on Proof-of-Work (POW) mechanisms. Chihuahua consumes less energy than DOGE and ETH do on a daily basis by enabling the blockchain to be run through the use of computational node structures, called Proof-of-Stake (POS). These tokens do not require any energy-intensive resources that Proof-of-Work tokens inherently need.

    HUAHUA can be delegated to nodes run by any of the 125 available validators. When using a PoS algorithm, users guarantee the security and safety of the network throughout. Delegation describes the process of contributing your tokens in order to support the nodes that are run by each validator. Experts in the Blockchain space point out that this mechanism is far superior and will be the algorithm used by some of the most innovative coins in the future due to the critical energy usage used by POW algorithms. This is a step further in the development of the digital currency and its integration into our world with real use-case.

    It is possible to earn additional benefits from yield-farming HUAHUA with other tokens within the Cosmos ecosystem. This basically is a system in which you provide your tokens to a pool in order to create liquidity for other users to trade with. Every day you will earn rewards based on the APR% of the pool you contribute to.

    Chihuahua Staking Pools

    On February 18th, Chihuahua launched its first NFT collection in a collaboration with Stashh. The collection, consisting of 101 digital assets varying in their level of rarity, was quickly sold out. 20% of the total revenue received as the result of the sale was allocated to the Chihuahua Community Pool. 

    Chihuahua NFT Collection

    How to Stake Chihuahua Token

    • If you want to stake the $HUAHUA token, the first step would be to install the Keplr wallet chrome extension on your PC. Kepler is the official Cosmos wallet. 
    • Buy or send the $ATOM token from Coinbase to Keplr leaving some extra $ATOM for paying off the gas fees.
    • Connect the $HUAHUA chain to Keplr via the OmniFlix website.
    • Connect Keplr to the Osmosis website.
    • Load $ATOM under the ‘Assets’ tab. Make sure you have enough tokens to cover the gas transaction fee.
    • Swap $ATOM for $HUAHUA under the ‘Trade’ tab.
    • Withdraw $HUAHUA from the ‘Assets’ tab.
    • Go to the Omniflix ‘Stake’ page.
    • Pick a Validator to stake with. The Chihuahua team recommends choosing a validator that’s not centralized or in the top 10, as these kinds of validators usually do not allow free airdrops. It is also recommended not picking a 100% commission validator. 
    • Restake or convert your Rewards into another coin.

    HUAHUA holders might earn up to 330% APR. 

    How to Buy Chihuahua Token

    Osmosis

    • Go to the ‘Trade’ page on the Osmosis website.
    • Choose an IBC token to use to buy $HUAHUA. 
    • Enter the amount you wish to swap for $HUAHUA and click ‘Swap’.
    • Confirm a Keplr transaction and choose desired fees, then click ‘Approve’.
    • You will find newly added $HUAHUA tokens under the ‘Assets’ section.  

    You can also purchase $HUAHUA on Unlimited.Exchange, Injective Protocol, Picasso Exchange, HotBit, and MEXC

    Check out more information on how to claim rewards and withdraw $HUAHUA from Osmosis here.

    Comparison

    To compare the other two prominent meme tokens within Blockchain at the moment, Doge and Shiba Inu, we can look at the stark differences of potential for growth and the benefits of joining and buying this token will give you. Although HUAHUA is priced higher than Shiba Inu in USD, its market cap (the true valuation of a coin) is almost 50x smaller than Shiba Inu and is 75x smaller than Doge. This illustrates the amount of massive growth this coin has the potential for within the meme space of Blockchain. It also touts the benefit of one of the highest APR% for staking the token on the entire market while having a DAO, a governing team, that helps to organise and expand the tokens' utility and value. Find a detailed and updating version here.

    Chihuahua Feature Comparison

    Conclusion

    Chihuahua has a high chance of becoming the next successful high-value meme token. It has a thriving community that engages both a formalised DAO team to help govern activities and active validators to ensure the network is running at all times efficiently. The team creates weekly campaign initiatives to reward the community and is also planning to release a detailed roadmap in the near future so that anyone interested in the network would be able to see where the community is headed. 

    The Chihuahua team hopes that its community will become one of the strongest sides of the network. They value the continuous support from the community members and post regular updates regarding Chihuahua. 

    You can join the Chihuahua community by clicking the links below: 

    Chihuahua Twitter

    Chihuahua Reddit

    Chihuahua Discord

    Chihuahua Telegram

    Chihuahua Github

    Chihuahua Medium

    Overall Project Overview

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