Connect with us

Press Release

Chainge takes cross-chain experience to a different level

Published

on

Decentralized finance (DeFi) is an emerging technology that has revolutionized the way we transact money by allowing users to verify, execute, and record their own transactions in a secure manner. DeFi eliminates the need for intermediaries such as banks and other financial institutions to charge a fee for each transaction.

Thus the need for applications that provide DeFi services has been increasing as users want platforms that offer convenient and innovative use cases to enhance their digital banking experience. 

Chainge is a one-of-a-kind DeFi application that has already gained over 450,000 users and a $150 Million total value locked in liquidity pools due to the automated financial services and popular money-making features it offers.

What is Chainge?

 

Chainge is a multi-utility DeFi app running on the Fusion blockchain, that provides convenient and secure ways to empower its users to become their own digital bank. The platform offers an automated solution for reducing the time spent on performing complex DeFi operations.

The platform is based on an ‘access from anywhere’ system wherein anyone with an internet connection can enjoy the full freedom of modern finance by using their app. It acts as a gateway to decentralized automated finance, which will form the foundation of the upcoming internet of value revolution.

Chainge lets users unlock a new realm of hassle-free financial experience by integrating innovations like cross-chain swapping, earning through time-framing, and liquidity mining. It provides opportunities to access a wide range of passive DeFi opportunities without worrying about asset security. 

Introducing Cross Chain Roaming

Even though there are a lot of projects claiming to develop cross-chain tech or cross-chain decentralized exchanges (DEX), the user experience offered by these platforms is not ideal as users have to constantly configure networks and can only do one cross-chain transaction at a time. This is often troublesome for new users.

Chainge has introduced the cross-chain roaming feature to improve user experience and take the cross-chain experience to a different level. Chainge’s primary objective has always been to create a fair decentralized finance (DeFi) ecosystem that provides equal opportunities for users and projects alike. 

Even though there are a lot of projects claiming to develop cross-chain tech or cross-chain decentralized exchanges (DEX), the user experience offered by these platforms is not ideal as users have to constantly configure networks and can only do one cross-chain transaction at a time. This is often troublesome for new users.

Chainge has introduced the cross-chain roaming feature to improve user experience and take the cross-chain experience to a different level. Chainge’s primary objective has always been to create a fair decentralized finance (DeFi) ecosystem that provides equal opportunities for users and projects alike. 

Powered by fusion distributed control rights management technology, Chainge offers cross-chain interoperability in stealth mode, which enables the app to run multiple processes in the background regardless of which blockchain the assets are held on, to offer a smooth and reliable user experience. 

Chainge brings in the concept of ‘universal asset’, which is a regular asset with cross-chain superpowers that can immediately jump to or from several chains, allowing users to focus on how to manage their money rather than the blockchains that underpin it all. The universal asset helps users perform numerous actions in the Chainge app that generate passive income.

The Chainge app has over 16 chains and 85 assets that can jump from one chain to the next one with only a few clicks to provide a  level of interoperability that is found nowhere. This enhanced user experience provides the utmost convenience for the users. 

The cross-chain roaming feature allows users to move assets from one chain to other without having to go through a token bridge and provides maximum speed for any cross-chain transaction. The process levies low transaction fees which helps users save money in the long run. 

The app offers maximum security and provides the topmost privacy as cross-chain operations happen in stealth mode. 

Other features offered

Time framing: This is an innovative fusion concept that has never been seen before in traditional or digital banking and will undoubtedly become a key component of crypto finance. This safeguards assets by assigning a purpose to funds for a set amount of time. The user owns the funds while the DeFi smart contract has the right to use the funds for a given time period.

Futures liquidity pools: Users provide liquidity to their assets pools to allow automated market makers to facilitate the buying and selling of other tokens and liquidity providers get a great APY return along with a cut of the transaction fee.

Thus, Chainge uses futures liquidity pools coupled with time framing feature to prevent impermanent loss as the time framed assets revert to spot price on the maturity of the set time period.

Decentralized Escrow protocol: A revolutionary innovation that could replace traditional contracts and facilitate a new way of making secure transactions without the need for a middle man. The protocol temporarily holds the payment until certain conditions pre-programmed by smart contracts are met.

It also has a low cost of 0.5%, which is cheaper than the existing escrow services. This service lets users buy or sell goods and services, trade crypto OTC with great ease while having the certainty that all contractual conditions are met. 

The Options DEX: The platform offers a fair financial market to retailers and projects alike, by building an options market that anyone from any part of the globe can access and utilize in order to maximize their wealth’s potential. 

This Option DEX is a unique innovation and one of the most popular financial derivatives used as it was the first decentralized options market module to be implemented in the crypto space. This feature opened up a whole new world of lucrative prospects that people and businesses never imagined were possible. 

Final Word

Chainge also provides users with an escrow service smart contract to build their own digital contracts with top-notch security. Users can buy or sell goods or services, trade crypto OTC and many more. All in the blink of an eye, while having the certainty that all contractual conditions will be met thus enjoying 24/7 financial services within the app, which eases user experience.

The platform’s ‘Earn” functionality is a secure and flexible earning solution that offers high-interest rates and allows daily withdrawals as per the user’s convenience. The charging storage facility lets users share their private key with their friends.

The app will be implementing a cross-chain liquidity aggregator in the future to solve the liquidity-slippage problems faced by the users while swapping in the platform’s DEX. This will be a one-of-a-kind feature as other projects only have one-chain liquidity aggregators, whereas Chainge will be aggregating liquidity from all 16 chains listed in the app.

The Chainge finance app offers a simple and user-friendly interface with multiple use cases and functionalities to automate businesses and leverage partnership trust, allowing users to have complete control of their finances by avoiding all middlemen, thus empowering billions of people by providing secure financial services at their fingertips. 

For more information on the Chainge Finance app, please check out their official website, Twitter, Medium and Linktree.

Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.