Sofia, Bulgaria, 1st August, 2022, Chainwire
DeFi challenge ChangeX has efficiently launched its CHANGE token for buying and selling on HydraDEX and Uniswap to robust investor curiosity, firm officers stated. The app helps a number of buying and selling pairs with a view to supply a broader vary of potentialities to traders, BTC and ETH cross-chain swaps included.
The CHANGE token launch comes after ChangeX efficiently accomplished their ICO, defying bear market sentiment. The ICO resulted in near $2M proceeds which can fund the corporate’s operations for not less than 24 months, offering a stable monetary place to begin regardless of gloomy market circumstances.
CHANGE was launched to the app on July 19 along with in-app staking and compounding of rewards, paid out in CHANGE. The staking APR on launch day was within the 500% vary with out together with compounding of staking rewards, which naturally made for a four-digit yield. The launch was met with robust demand, and in lower than 24 hours 13.2 million tokens had been offered on HydraDEX alone, whereas a complete of 11.5 million had been staked. Moreover, 1,87 million tokens had been offered on Uniswap.
“ChangeX is entering a very exciting stage and we’re very happy with the numbers. We’ve got the app up and running, the token is online and we’ve reached a very important milestone with staking now available.”, stated ChangeX CEO Nikifor Iliev. “We aimed for a timely release according to our roadmap, and our developers have been working round the clock in order to reach deadlines and provide the beta version of the app to the community. All this was achieved in less than 6 months, and we’re all very proud of it.”, added Mr. Iliev.
Each iterations of the token have surged within the days following the challenge’s launch, disregarding bearish market circumstances, which could be an indicator of the challenge’s integrity and the energy of its neighborhood.
“CHANGE and HYDRA are the essential building blocks of the future of ChangeX. All new features that we plan to add to the project will be built around them. A number of core functionalities will offer a myriad of possibilities that users can use to their advantage”, added Co-founder Gary Guerassimov. “All the additions we’ve planned for the future in our roadmap compliment each other and create an all-in-one app ecosystem that works on interoperability and simplicity. The end goal is a smooth and user-friendly app that offers unprecedented ease of access to DeFi, crypto, and traditional finance.”
Q3 2022 will see delegated HYDRA staking come to ChangeX, granting customers entry to full-blooded staking with out the necessity to arrange a node, however with all the advantages that usually include it. The developer crew can be specializing in establishing the foundations for ChangeX’s open lending market and flagship Leveraged Staking product, which can supply margin positions on a number of staked property within the app, amplifying yield by an element of 1.2-2x.
The opposite huge factor for ChangeX is changing into an agent of an Digital Cash Establishment (EMI) initially, and finally acquiring its personal license which can enable the corporate to concern IBANs to customers, paving the way in which for the discharge of the ChangeX Crypto Debit Card. The cardboard will work as normal financial institution playing cards do, permitting customers to spend each crypto and fiat from inside the app.
“If we assume that Revolut was a 1st generation digital asset application, and Crypto.com a potential 2nd generation application, then ChangeX is making an attempt to establish itself as a 3rd generation application by harnessing the powerful DeFi products and making them readily available to retail users”, HydraChain Co-founder Nikola Alexandrov added, outlining the imaginative and prescient for ChangeX’s future.
ChangeX is an all-in-one private finance cellular app that merges conventional finance, crypto, and DeFi. ChangeX will supply customers a private checking account, entry to multi-chain crypto, and high-APR DeFi instruments corresponding to Leveraged Staking, which might double the rewards on all staked property. ChangeX’s focus falls on passive earnings and crypto empowerment, and the app will enable customers to spend any in-app token on something through its ChangeX Crypto Debit Card. Customers will be capable of lend their stablecoins, use locked and versatile staking, purchase and pay with fiat, and swap crypto on a number of chains, with the whole lot being accessible in a couple of easy clicks.
ChangeX founders Nick Iliev and Gary Guerassimov have a wealthy historical past in creating profitable crypto and fintech merchandise, amongst them xChange.bg – Bulgaria’s main crypto trade. HydraChain and LockTrip co-founders Nikola Alexandrov and Hristo Tenchev are additionally on board, every bringing seven years of blockchain expertise to the challenge. The challenge’s CTO Martin Kuvandzhiev is among the core builders at Bitcoin Gold – a tough fork of the supply Bitcoin code, which introduced decentralization again to retail merchants and made mining through frequent GPUs doable once more.
ChangeX’s advisory board options trade consultants from a number of the largest names in crypto, DeFi, and finance. SoftBank Imaginative and prescient Fund’s Neil Cunha-Gomes, whose crypto investments embrace Consensys and Elliptic, has been working alongside seasoned consultants Dimiter Gurdjilov and Stefan Ivanov in outlining the corporate’s technique and imaginative and prescient. Dimiter Gurdjilov has greater than 15 years of funding banking, personal fairness and enterprise growth expertise from Merrilll Lynch, JPMorgan, George Soros’ Bedminster Capital, NBGI Non-public Fairness, and Challenger Capital Administration. Stefan Ivanov has 25+ years of expertise at Citibank, Banque Paribas, and Challenger Capital Administration, and has additionally served because the CEO of Citibank in Bulgaria.
Dimitar Rahtaliev, Advertising and marketing and Communications Supervisor, ChangeX, [email protected]