Could use some suggestions for the side board. Never done a valakut deck before, but I've been coming up with ways to use and abuse the new Chandra, and this deck seemed like a prime candidate :D
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Also, dump the everflowing chalice for solemn simulacrum. That card is just ridiculous and holds a much better place. It should honestly go in every deck in standard now. Dump the cancels, and I'd say the dignitaries as well, since they can't be pulled back with the sun titan. That should leave enough room for the additions people are suggesting
I would highly recommend hedron crab and sword of body and mind if you wanna make this about the mill. The sword gives you and edge against other control decks, and it even allows your crabs to do something besides sit there! The cards are cheap on the mana cost side, so it should help your curve too. I'd also suggest another sun titan or two to help bring back either of these cards from the graveyard :D
I'd considered the hellkite, but the titan seems more versatile to me. With the mana this deck can produce, it can easily become as powerful if he's free to swing, and he helps with the spot removal or just putting a little extra hurt on the opponent, even when he enters. I'm not really sure why people keep telling me to drop Karn. Aside from Chandra, he's one of my favorite parts of the deck. He helps deal with allot of things red can't deal with normally, like kor firewalker, leyline of sanctity, and fatties that i can't/don't want to lay out all my burn to deal with. That, and restarting the game with one of the extra planeswalkers in my hand is just beautiful :D