How CHIPS Work
What CHIPS are, how you earn them, and how to convert them to real money.
What Are CHIPS?
CHIPS are the currency of the CHIPS Marketplace. Every project is priced in CHIPS, every payment is made in CHIPS, and every designer earns CHIPS for completed work.
One CHIPS is worth one US dollar. Always. This is not a speculative cryptocurrency -- it is a stable medium of exchange designed for creative work.
How Clients Use CHIPS
When you post a project, you set the budget in CHIPS. Your payment is held securely in Payment Escrow until the work is approved. You fund your account by converting USD to CHIPS at a 1:1 rate.
How Designers Earn CHIPS
Designers earn CHIPS by completing projects:
- Claim a project -- first-come, no bidding
- Deliver the work -- meet the deadline and quality expectations
- Get paid -- receive 79% of the project value when the work is approved
The remaining 21% is split between marketplace operations (15%), the Merit Pool for top performers (5%), and the Review Panel reserve (1%).
Instant Cashout
You can convert your CHIPS to USDC (a US dollar stablecoin) at any time, 24/7. There is no invoicing, no net-30 payment terms, no waiting. You earn CHIPS, you cash out when you want.
The conversion rate is always 1:1. One CHIPS equals one USDC.
The Merit Pool
5% of every project payment goes into the Merit Pool. This pool is distributed to top-performing designers based on their earnings and Reputation. The better your work and the more projects you complete, the larger your share of the Merit Pool.
Account Minimums
Higher-tier designers need to maintain a minimum CHIPS balance in their wallet:
| Tier | Account Minimum |
|---|---|
| Fresh | 0 CHIPS |
| Common | 0 CHIPS |
| Rare | 0 CHIPS |
| Epic | 100 CHIPS |
| Legendary | 200 CHIPS |
This balance is not locked -- you can still use these CHIPS for Commitment Deposits or cash out. But your wallet balance must stay above the minimum to maintain your tier status.
Verified Credits
Every completed project earns you a Verified Credit -- a permanent, non-transferable record of your work. These credits are your portable proof of work history on the CHIPS platform. They cannot be bought, sold, or faked.