Chainge Finance aims to eliminate middlemen and allow everyone to become their own bank.
The world of decentralized finance (DeFi) is rapidly evolving, and we are witnessing a paradigm shift in the way financial transactions are conducted. While we may still be a ways off from realizing the full potential of blockchain technology, it is becoming increasingly clear that traditional banking institutions are losing ground.
With Chainge Finance, users can be their own digital banks. You can make payments to anyone, or perform any financial service with the touch of a button, and businesses can use it easily too. They can use it for services such as payroll and profit sharing.
Chainge is committed to offering a top-notch user experience, ensuring that users can take advantage of all the benefits of DeFi without the need for advanced technical knowledge or expertise.
What Does Chainge Finance solve?
Some problems in DeFi that Chainge aims to solve include a lack of interoperability, liquidity, self custody and security. It also aims to make trading cheaper and more accessible. They are really trying to drive mass adoption of crypto with their products.
Change is DEX aggregator meaning it can find the best prices for your trade by scouring all available chains and platforms. It can split your trade up into multiple parts while sourcing the deepest liquidity across different chains.
Most DEXs will only source liquidity from one chain per trade, but Chainge can scan all chains simultaneously, ensuring you get the best price.
When you want to swap one crypto on chain A, for another crypto on chain B, Chainge will make cross-chain transactions in the background. It means you won’t have to bridge or wrap your assets or take several steps to move your cryptos from one chain to another. Chainge does it for you, seamlessly.
With Chainge, any currency living on multiple chains can be instantly sent to another chain within one operation. Users can buy any asset on any chain in a 100% decentralized way.
Chainge supports both EVM and non-EVM compatible chains, including Solana, Cosmos, and Polkadot. Its patented DCRM technology, developed in association with top security experts, has never been hacked.
How does Chainge Finance work?
Say you had to move three tokens from chains A,B, and C over to chain D. Use of a centralized exchange or bridge could take hours to complete, but Chainge can do the same thing in minutes.
Chainge crawls all active DEXs to find the best transaction rate for the user’s target pair swap & then automatically splits the order between multiple DEXs and across up to 10 chains.
Example:
Swapping USDC for ETH
What happens in the backend?
- The Chainge DEX algorithm searches the local database containing all DEXs integrated with the supported chains for the USDC & ETH pair
- Chainge finds the DEXs with the lowest slippage rates for the specific pair and determines the best chain(s) to transfer the assets to
- The assets are automatically sent to the target chain(s) and the pre-determined amount of USDC is split among the DEXs, then swapped
- The user receives the max amount of ETH he could possibly get for his USDC in a couple of minutes, outranking any other potential DEX involved in the operation
⚠️ If the slippage margin is exceeded, the swap will be only partially completed and the user will immediately get the remaining portion of A tokens back.
Chainge Finance Features:
Change offers a mobile app and trading platform with the following features:
- -DEX aggregator
- -Cross-chain roaming
- -Self-custodial wallet
- -Decentralized staking
- -Futures & options DEX
- -Margin trading
- -Decentralized escrow
Chainge also offers a decentralized escrow service, options and margin trading,
On the roadmap, they have upcoming desktop platform, a new and improved UI and UX, a launchpad, and a fiat on and off-ramp.
Chainge Finance Wallet
With the Chiainge app you can set up a wallet in beginner mode or expert mode.
Beginner mode is for users who want an easy onboarding process without managing seed phrases. In this mode, the encrypted seed phrase is stored on the “Secret Cloud Box,” which is safely protected by the company.
Each user’s seed phrase is encrypted by their device’s different credentials, ensuring security is in the users’ hands.
Expert mode is for those who want complete decentralization and the ability to import their seed phrase into other wallets. In expert mode, the seed phrase is stored locally on the user’s cell phone, and the user takes full responsibility for managing, securing, and backing it up.
Users can encrypt their seed phrase with their password by generating a QR code, which can be imported into the app using the Chainge magic button.
The app’s DEX is 100% decentralized and runs on the blockchain, and it never stops. In the unlikely event of Chainge servers going down, users can access their funds by importing their seed phrases into other wallets.
Time Frame Feature
Chainge’s innovative feature is called time-framing. Essentially, Time-Frame (TF) creates a third parameter of value called ‘Time’. This allows for more accurate expression of value and better control over financial futures.
One exciting feature of TF is the Earn feature, which enables the time-framing of an asset and management through a smart contract. As the owner, you can assign a purpose to a portion of your asset for a specific period of time, while retaining ownership rights to the back portion. The smart contract has usage rights over the front portion for the predetermined period before returning it to you.
When you time-frame your asset, you instantly receive your TF asset reward plus CHNG reward, if applicable. The back portion of your asset can be used for regular functionalities such as exchanging or sending, while the rewards can be held until maturity or liquidated according to the trading pair exchange rate within the Future DEX.
It is important to note that the maturity date of TF assets is predetermined and applies to all users. Additionally, Time-Framed assets can only be sent to another Chainge Wallet, as Fusion is the only chain that supports Time-Framed assets.
In other words, you will still have ownership rights on the back portion of your assets while putting the front portion to work by giving the smart contract usage rights over it.
Another way to earn passive income with Chainge is with their liquidity pools.
$CHNG Token
$CHNG market cap currently stands at $35 million, and its maximum supply is 814 million, with $250 million already burned as of Q4 2022. Notably, $CHNG was fair-launched, with no team or VC allocations. Additionally, 25% of profits are used to buy back $CHNG and burn them.
Chainge Finance is a decentralized finance (DeFi) platform that is revolutionizing the world of finance. The platform offers users complete control over their financial services and eliminates the need for middlemen or centralized institutions. By leveraging the power of DeFi protocols and automation, Chainge is ushering in a new era of financial freedom.
With the Chainge Finance app you have the freedom of performing cross-chain transactions and moving your assets from one chain to another within seconds.