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DeFi project ChangeX has successfully launched its CHANGE token for trading on HydraDEX and Uniswap to strong investor interest, company officials said. The app supports several trading pairs in order to offer a broader range of possibilities to investors, BTC and ETH cross-chain swaps included.
Changex Is Reaching Important Milestones
CHANGE was introduced to the app on July 19 together with in-app staking and compounding of rewards, paid out in CHANGE. The launch was met with strong demand, and in less than 24 hours 13.2 million tokens were sold on HydraDEX alone, while a total of 11.5 million were staked. Additionally, 1,87 million tokens were sold on Uniswap.
ChangeX, CEO Nikifor Iliev, said:
“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. 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.”
Both iterations of the token have surged in the days following the project’s launch, disregarding bearish market conditions, which can be an indicator of the project’s integrity and the strength of its community.
Co-founder Gary Guerassimov added:
“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. 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 users access to full-blooded staking without the need to set up a node, but with all the benefits that normally come with it. The developer team is also focusing on setting up the foundations for ChangeX’s open lending market and flagship leveraged staking product, which will offer margin positions on multiple staked assets in the app, amplifying yield by a factor of 1.2-2x.
The other big thing for ChangeX is becoming an agent of an Electronic Money Institution (EMI) initially, and eventually obtaining its own license which will allow the company to issue IBANs to users, paving the way for the release of the ChangeX Crypto Debit Card. The card will work as standard bank cards do, allowing users to spend both crypto and fiat from within the app.
HydraChain Co-founder, Nikola Alexandrov, added:
“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.”
ChangeX is an all-in-one personal finance mobile app that merges traditional finance, crypto, and DeFi. ChangeX will offer users a personal bank account, access to multi-chain crypto, and high-APR DeFi tools such as leveraged staking, which could double the rewards on all staked assets. ChangeX’s focus falls on passive income and crypto empowerment, and the app will allow users to spend any in-app token on anything via its ChangeX Crypto Debit Card. Users will be able to lend their stablecoins, use locked and flexible staking, buy and pay with fiat, and swap crypto on multiple chains, with everything being accessible in a few simple clicks.
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