ChangeX
ChangeX is a one stop shop, Hybrid ecosystem for all your Crypto, DeFi, and Banking needs, all in one App with an ultra-friendly user experience. Combining compliant CeFi with true DeFi elements, ChangeX looks to streamline the crypto experience for everyone. Built on the Hydra Chain, ChangeX launched on 19th July 2022 and they are introducing Leveraged Staking for up to 2x the APR (which is pretty unique for the industry), a Crypto Visa Card connected to POS Assets, Cross-Chain swaps, One Click Crypto to Fiat Trading and Personal IBAN via SEPA amongst other things.
If you ask the average person on the street, they will likely have heard about Bitcoin and the blockchain, but will they know about decentralized exchanges, liquidity mining, the concept of staking or automated market makers? The gap between the mainstream user and the ever accelerating pace of innovation is widening every day. This gap acts as a technological entry barrier, even for the majority of crypto holders (or interested audiences). ChangeX.io realizes that the step from “fiat banking” to “crypto ownership” is only half the journey and that the hurdles from “crypto ownership” to “DeFi participation” are equally significant. The philosophy of ChangeX is to act as a bridge between the blockchain and the end user by removing all entry barriers and offering a simple user experience. In order to create a fully functional, comprehensive DeFi ecosystem, ChangeX.io will also act as a bridge between the fiat and crypto worlds, making it easier for “traditional bank customers” to turn into “crypto holders”. As a core product philosophy, ChangeX will incorporate elements of centralized finance to act as a simple and uncomplicated fiat gateway
Products & Services:
One App, Everything in Crypto along with Traditional Banking
Truly non-custodial Multi-Chain Wallet
Hydra DEX Connectivity
Cross-Chain Crypto-to-Crypto Conversion
Upcoming Features:
Multi-Chain Staking Pools
Multi-Chain Leveraged Staking with 2x APR
Fiat-to-Crypto Conversion
Hybrid CEX/DEX Cross-Chain Crypto-to-Crypto Conversion
Savings Product (Stablecoin Staking)
Open Lending Market
ChangeX Crypto Visa Card
IBAN & SEPA Banking
The $CHANGE token
CHANGE is Deflationary and Multi-Chain. Everything that happens on the ChangeX app is centered towards utilization of the Change Token. $CHANGE facilitates the DeFi products in the ChangeX platform which includes Leveraged staking pools & trading pairs. Basically, all transactions in the app will interact with $CHANGE causing an increase in Demand and APR, while reducing supply.
1. An ~5% network fee generated by the staking pools will be shared to CHANGE token stakers as rewards. The more assets and the bigger the staking pools in the app, the higher the APR of $CHANGE! Thus creating a bridge between the staked inflationary assets and the deflationary economy of CHANGE. The commissions charged to each staking pool for various tokens on different chains (e.g. HYDRA, CAKE, BNT staking pools) in the ChangeX app will be used to buy $CHANGE. These purchased tokens are then distributed to the $CHANGE token stakers as staking rewards. This increases demand for the token and allows for high inflationary APR, while essentially having no inflation.
2. 30% of all trading fees in the app will be used to buy and burn from the total supply of $CHANGE and stimulate deflation.
3. The CHANGE token will act as the governance token for the ChangeX DAO, providing voting rights to users
Every new feature we add will ultimately be connected to the $CHANGE token and will be reflected in its price, so, again, this only invites investors to hold the token and reap the rewards of its price action, while consistently enjoying various benefits just by holding and staking it. We believe that this is a good philosophy for future success and sustainable growth.
You can read more on the website at https://changex.io and this article on Medium https://changex.medium.com/deflationary-token-inflationary-apr-change-tokenomics-leveraged-staking-and-burn-mechanism-90e0da8a36c5
$CHANGE Staking
History / The Backstory:
Sources
1. Hydra Chain