How does your submission match the theme?
'Chips' serve as both powerups and health. Collecting one will slightly increase one stat (jump height, projectile damage, etc.), while getting hit will remove some chips. When you get hit with no chips, you lose.

I also tried to make the attack double as a shield by making it absorb enemy projectiles, but it turned out kind of hard to pull off in the finished game.

Third-party resources
The game was programmed and drawn in Game Maker Studio. Music and sound effects were created with FL Studio 12 and FamiTracker.

Contributors
ch1.ps was made solely by me.