OpenChat PriceCHAT

What is OpenChat (CHAT)?

OpenChat (CHAT) is a fully featured, decentralized chat application that runs end-to-end on the Internet Computer (ICP) blockchain. It is a community-owned messaging platform built for privacy, security, and anonymity, offering direct messages and private groups similar to WhatsApp and Signal, public groups comparable to Telegram, and "communities" that function like Slack workspaces or Discord servers. The application is delivered as a responsive progressive web application (PWA) that scales to any screen size and integrates with devices much like a native app, including push notifications. OpenChat operates entirely as a collection of canister smart contracts, and a dedicated canister is created for each user to hold their direct chat data, group memberships, and wallet functionality. The CHAT token began with an initial supply of 100 million tokens, has a total supply of approximately 100.76 million, and a circulating supply of roughly 29.95 million. OpenChat launched in 2020 and transferred control to its community through a DAO structure following a decentralization sale in March 2023, making it a mature, community-governed project within the Internet Computer ecosystem.

Key Specifications & Tokenomics

• Name: OpenChat
• Symbol / Ticker: CHAT
• Blockchain / Platform: Internet Computer (ICP)
• Category: DePIN, Internet Computer Ecosystem
• Consensus: Internet Computer protocol consensus secured by canister smart contracts
• Smart Contracts: Runs as a collection of canister smart contracts, with a canister created for each user, group, and community
• Initial Supply: 100,000,000 CHAT
• Total Supply: 100,761,456 CHAT
• Circulating Supply: 29,948,057 CHAT
• Max Supply: Undefined, with 2.5% of total supply minted annually to reward governance participants
• Minting: 2.5% annual mint to reward neuron holders for voting on proposals
• Burning: CHAT can be burned to reduce supply, with premium feature revenue expected to offset or exceed minting over time
• Token Utility: Governance staking, premium feature payments, and contribution rewards
• Official Website: https://oc.app
• Whitepaper: https://oc.app/whitepaper

Who created OpenChat?

OpenChat was founded by three software developers: Matt Grogan, Hamish Peebles, and Julian Jelfs. The three co-founders originally met and worked together for several years building a company before launching OpenChat. Matt Grogan serves as Co-Founder and a core developer, describing himself as "a co-founder and one of the core dev team building OpenChat which is a decentralised chat app running on the Internet Computer blockchain." Hamish Peebles is also a co-founder and was featured in a Founder Spotlight video discussing the developer journey of building on the Internet Computer. The team is listed as active on Rootdata, with Matt Grogan referenced as Co-Founder. Following the March 2023 decentralization sale, OpenChat transferred control to the community and is now governed as a DAO, meaning token holders collectively steer the project's direction rather than a central company.

How does OpenChat work?

OpenChat runs entirely on the Internet Computer blockchain as a collection of canister smart contracts. When a user joins, a dedicated canister is created for them that stores their direct chat data, links to the groups and communities they belong to, and also serves as a wallet for holding and managing tokens. Each group and community is likewise implemented as its own canister, an architecture designed to scale to hundreds of millions of users. The application is open source, and it is possible to see the code running on any canister at any time, with a link back to the particular version in source control for independent verification. Users can send messages containing tokens such as ICP, ckBTC, ckETH, and soon ckUSDT, enabling global remittance directly within chats. Governance operates through the Service Nervous System (SNS), where CHAT holders stake tokens as neurons, similar to ICP neurons, and vote on proposals to earn rewards that increase the longer tokens remain staked.

What makes OpenChat unique and valuable?

OpenChat's primary point of difference from similar messaging applications is that it is governed as a DAO, giving token holders direct control over the platform's evolution. It is a fully on-chain messaging platform, meaning the chat application itself runs end-to-end on the Internet Computer blockchain rather than relying on centralized servers. The per-user canister architecture provides both scalability and a built-in wallet, allowing users to hold and transfer tokens without leaving the conversation. The application is open source and independently verifiable, reinforcing transparency and trust. OpenChat also combines the functionality of multiple popular platforms, offering direct messages, private groups, public groups, and communities in a single responsive PWA. Its focus on crypto-oriented chat groups, with several communities boasting thousands of active members, positions it as a natural hub for Web3 users who want private, secure, and token-enabled communication.

What is OpenChat used for?

The CHAT token serves several core functions within the OpenChat ecosystem. It can be staked as neurons, allowing holders to participate in the governance of OpenChat by voting on SNS proposals and earning voting rewards that grow the longer tokens are staked, incentivizing long-term alignment with the project. CHAT is used by OpenChat users to pay for Diamond membership and other premium features. It can also be used to reward contributions to the evolution or growth of the OpenChat service, either through automated user rewards or by SNS proposal. Beyond the token itself, the OpenChat application is used for private and public messaging, community organization, and in-chat token transfers of ICP, ckBTC, ckETH, and soon ckUSDT, making it suitable for global remittance and crypto-native communication.

How Is the OpenChat ecosystem developing?

OpenChat is part of the Internet Computer ecosystem and is tagged as DePIN on CoinMarketCap. Its main application is available as a web and PWA experience at oc.app, with a native app also referenced. The feature set includes direct messages, private groups, public groups, and communities, along with wallet functionality and in-chat token transfers. Supported tokens currently include ICP, ckBTC, and ckETH, with ckUSDT planned. Premium features such as Diamond membership are payable in CHAT. The platform predominantly caters to crypto-oriented chat groups, with several communities reaching thousands of active members. A full development roadmap is referenced on the CoinMarketCap page. Governance updates are published through the OpenChat blog, and the project continues to be community-owned and DAO-governed following its March 2023 decentralization sale.

How to mine OpenChat?

OpenChat does not use traditional mining. Instead, CHAT tokens are distributed through staking and governance participation. Token holders stake CHAT as neurons, similar to ICP neurons, to participate in the governance of OpenChat by voting on SNS proposals. By voting, neuron holders earn voting rewards, and these rewards increase the longer the tokens are staked, encouraging long-term commitment to the project. Additionally, 2.5% of the total supply is minted annually to reward neuron holders for participating in governance. CHAT can also be earned through automated user rewards or by SNS proposal for contributions to the evolution or growth of the OpenChat service. This staking-and-governance model replaces proof-of-work mining with an incentive structure tied to platform stewardship.

How to keep your OpenChat Coin safe?

Keeping CHAT safe begins with using the official OpenChat application at oc.app, where each user's canister serves as a personal wallet for holding and managing tokens. Because OpenChat runs on the Internet Computer blockchain, users should secure access to their Internet Computer identity and any devices used to log in, as these credentials control the canister wallet. Staking CHAT as neurons involves locking tokens in governance, so users should carefully review proposal participation and understand the unstaking process before committing tokens. As with any cryptocurrency, users should verify official links such as the website, whitepaper, and governance blog before interacting with third-party services, avoid sharing private credentials, and keep recovery methods for their Internet Computer identity in a safe place. Holding tokens in the user's own OpenChat canister rather than leaving them on external platforms reduces counterparty risk.