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[PRESS RELEASE – Sofia, Bulgaria, 31st March 2022]
Hybrid DeFi project ChangeX has reached its initial coin offering (ICO) hard cap quota in only 25 days – two months ahead of schedule. The public sale of the CHANGE token, offered at a fixed price of $0.016, now enters into oversubscription territory, with the ICO still open to all existing investors and newcomers until 31 May.
The ICO of the CHANGE token, which started on 28 February, was carried out on ChangeX’s proprietary launch platform. The hard cap quota of $2.4M was filled in exactly 25 days due to the project’s significant potential and the strong interest from ChangeX’s community of retail investors. A separate batch of 50M CHANGE tokens is reserved for institutional investors and venture capital and will be put into circulation at a later phase.
“Meeting our ICO hard cap quota this early into the public sale puts us in a great position to streamline development and push our marketing efforts forward”, said ChangeX CEO Nick Iliev. “The ChangeX community and how quickly we got to where we are today shows that we have a very special product on our hands and investors recognize the opportunities. The project enters an exciting new phase now, and we should have a working MVP for the ChangeX platform in the next two months”, he added.
The CHANGE token is the utility and governance token of the ChangeX app – a CeDeFi ecosystem, which will merge DeFi, crypto, and banking under one roof, offering easy entry into the world of decentralized finance. At its center lies the ChangeX non-custodial wallet, which will embody true composability by introducing all tools needed to navigate the DeFi space. The wallet comes with a personal IBAN and SEPA integration, a Crypto Visa card, cross-chain functionality, and various DeFi tools, including first-ever Leveraged Staking.
The CHANGE token is based on an HRC20 token (HydraChain) and is deflationary in nature. The token will act as a bridge between the end-user and the blockchains by facilitating cross-chain operations in the app. It will also create synergy between stablecoin lending and staking, where one will empower the other, and vice versa. CHANGE tokens will be airdropped to holders as rewards for staking PoS assets in the app, with APR of 65-80% and higher, and access to these DeFi tools will be available with very few clicks.
“With ChangeX, we want to open the door to DeFi and crypto for everyone. The space is still very inaccessible, DeFi can do so much more”, added Mr. Iliev. “With ChangeX, users will be able to generate passive income like never before, and they will no longer have to switch apps – everything they need: their bank account, a hybrid CEX/DEX, and a wallet – will be available right there.”
The public sale of the CHANGE token continues until 31 May on the ChangeX website with a fixed price of $0.016.
ChangeX founders Nick Iliev and Gary Guerassimov have a rich history of developing successful fintech solutions, among them xChange.bg – Bulgaria’s leading crypto exchange. HydraChain and LockTrip co-founders Nikola Alexandrov and Hristo Tenchev are also on board, bringing seven years of blockchain experience to the project. The project’s CTO Martin Kuvandzhiev is one of the core developers at Bitcoin Gold – a hard fork of the source Bitcoin code, which brought decentralization back to retail traders and made mining via common GPUs possible again.
ChangeX aims to become a one-stop shop for trading, staking, DeFi lending, and fiat-to-crypto trading, allowing inexperienced users to benefit from a safe, easy-to-use, and mobile-friendly experience while storing, preserving, and growing their wealth on their mobile device. ChangeX has experience in developing working blockchain-based solutions, and the team behind is well-versed in all things crypto and fintech.