OpenChat

OpenChat is a messaging application that runs entirely on chain as canister smart contracts on the Internet Computer, rather than on conventional servers. CHAT is its governance token. Because the app's logic and message storage live in canisters, the service is controlled by its DAO instead of by a company operating private infrastructure.

On the Internet Computer, canister smart contracts can serve web assets and hold application state directly, so OpenChat's front end and backend are both on chain. Users reach it in a browser without a traditional hosting provider. The trade-off is that behaviour, upgrades and storage costs are governed by the network and the DAO rather than by a private operator.

CHAT is the governance token of OpenChat's SNS DAO, used to vote on proposals such as software upgrades and parameter changes, and to participate in the platform's incentive mechanisms. Governance held in a DAO means changes to the application are executed by on-chain proposals rather than shipped unilaterally by a development team.

Conventional messengers route messages through company-operated servers under a private terms of service. OpenChat instead stores messages in canisters on the Internet Computer and is directed by CHAT token holders through a DAO. The practical differences are in who can change or shut down the service, and in how usage costs are borne.

OpenChat is currently priced at $0.06360, down 0.51% in the last 24 hours. It is ranked #1548 by market capitalization. Over the past 7 days, CHAT is down 8.91%.

OpenChat has a market capitalization of $1.90M. The 24-hour trading volume is $1,161.7, reflecting the total value of CHAT traded across all exchanges in the last day.

There are currently 29.95M CHAT in circulation. The total supply is 100.76M CHAT.