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I also think CHIKARA doesn't need a major title as they mostly focus on their young wrestlers imo. I really liked their tourneys, I've seen some higlights of the La Loteria Letal and it's a pretty good concept mixing a face and a heel in a tag team.
I used to watch some Chikara vids when I am stressed out from work and school lol... I really liked the teams of The Colony, Supersmash Brothers and the Los Ice Creams!