What is Chainge Finance? Let's Learn about CHNG Token

Table of Contents

What is Chainge Finance?

Chainge Finance is a DeFi application built on the Fusion Protocol blockchain that enables seamless cross-chain interoperability and automated financial services with a simple touch.

Fusion Protocol allows users to have full control over their assets without depending on any entity.

Chainge Finance built their dApp to literally help users be like a bank and have control over transactions and support in the most effective and efficient way.

Chainge Finance

Some basic services Chainge Finance provides:

Storage wallet
Multi-chain asset management
Decentralized exchange (DEX)
Escrow services (Crypto OTC, Freelance job management, international transactions,…)

Chainge Finance’s products are available

Spot Trading

Peer-to-peer trading with order book matching mechanism. The mechanism is similar to Spot trading on centralized exchanges (CEX) with the only difference being that it does not focus on the centralized exchange model.

Futures trading

Similar to the centralized exchange, Chainge also offers Future trading on the platform. This can be an alternative to trading on centralized exchanges. However, there are still risks associated with managing contracts through algorithms. They are potentially biased or manipulated by transaction size.

Options trading

A binding contract that allows the purchase or sale of an asset at a price over a period of time. This helps minimize risk or increase profits from price fluctuations.

Although this feature is not new to centralized trading platforms. But currently there are very few DEX exchanges that support this feature. Therefore, integrating options trading not only attracts new users but also diversifies financial trading methods according to each user’s risk appetite.

Provide liquidity

Conduct token pairing to provide liquidity to pools.
Receiving APY depends on the specific token type and liquidity pool.
Interest rates can reach very high levels up to 115% and are paid in $CHNG tokens.
This token is the management unit of the ecosystem.

Project highlights

Multi-chain liquidity aggregation Chainge Finance

Is one of the pioneering projects in implementing multi-chain liquidity aggregation tools. Chainge combines liquidity from 20 decentralized exchanges (DEX). Thanks to this process, assets traded on Chainge will have the highest level of liquidity. At the same time, the platform also takes advantage of the flexibility of choosing the most suitable exchange.

This helps users get the best price at all times and also reduces the risk of sudden price slippage due to liquidity shortages.

Strong multi-chain support

Chainge Network is built on Fusion Protocol, a platform that allows for fast and efficient multi-chain transactions. Fusion’s technology is currently being applied in the cross-chain field. Some prominent names include: Anyswap, Multiswap.xyz, Cortex and Chainlink.

Currently, Chainge supports up to 30 different blockchains. This opens up many possibilities in providing liquidity between chains, while also facilitating and easing migration.

The mechanism provides the best liquidity

Chainge Network does not simply aggregate multi-chain liquidity as usual (searching and choosing where the highest liquidity is with the lowest fees), but actually “aggregates” liquidity. The platform withdraws liquidity from multiple chains and processes them in the same transaction. Thereby minimizing the risk of price slippage.

Conversely, if a user’s token splits across multiple chains (regardless of the number of chains they use). Chainge Network can aggregate or swap all of these tokens in one place, in just one transaction.

Tokenomic of Chainge Finance

Basic information

Token Name: Chainge Finance
Ticker: CHNG
Blockchain: Fusion Network
Token Contract: 0x05573124c64c69d85687152b2942bcb0a3b26d99
Token Type: Utility, Governance
Total Supply: 716,725,414 CHNG
Circulating Supply: Updating…

Token Use Case

The project’s governance token – CHNG is used in most transactions on Chainge Finance. Some main uses of this token:

Administration: used to vote and make suggestions that directly affect the project
Future and Option transactions: create interest rates according to a certain time frame for Future and Option transactions.
Staking: receive interest from staking CHNG tokens
Gas fee: CHNG is used as the gas fee for every transaction on the platform.

CHNG basically has all the usual uses of a project token, however with the versatility that Chainge Finance brings, the amount of tokens used as fees will be a quite significant number, from which the value will also be increased each quarter as the project burns tokens.

Token Allocation

10% reward to the community before the application product is deployed
15% reward for product experience
5% rewards to liquidity pool providers and FSN holders
10% bonus for 3rd party partners
30% is used to provide liquidity for the project
30% reward for real users in Chainge Finance

Development team

Dj Qian: Founder/CEO of Fusion Foundation, Chainge Finance, Co-Founder of Anyswap; Founder of BitSE (VeChain & QTUM).
Vlad Tirla: Partner and Product Manager of Chainge Finance; High-level product design.
Oana Batran: Sales/Marketing Director of Chainge Finance; Former Creative Director at WriteCut, Brand Consulting.
Hunter Ling: Chief Technology Officer of Chainge Finance; Senior product engineer previously worked at Hikvision.
King Zhu – Investment Director: Before joining CEIBS, he had experience working in the telecommunications industry and held many different roles in the field of software development, from engineer to department manager.

Investor

Chainge Finance does not mobilize investments from investment funds. The project conducted IDO on Gate.io on January 18, 2021 at a price of $0.07 and raised $400,000.

Roadmap

Conclusion

Through the above article overview about the Chainge Finance (CHNG) project, AZC.News hopes readers will grasp basic information about this project to make your own investment decisions. Wishing you a successful investment!