When most people hear the phrase “personal finance”, the thing that mostly pops in their minds is a bank. Or banks. Mobile banking, savings accounts, non-existent returns, and so on.
Cryptocurrency is not something that comes up very often in this context, or at least not in many people’s minds. It is, after all, used by only 5% of the world’s population. However, if anything out there can really be considered personal finance, then that surely is cryptocurrency – decentralized cryptocurrency.
DeFi is personal finance with a capital P
But DeFi has a problem. Several, actually.
Trading and managing crypto can be daunting. There are hundreds of blockchains, various networks, wallets, services, and passive income opportunities — and they are all quite complicated. It’s like expecting mass adoption for a brand new model car, but instead of receiving the whole thing, you need to put it together piece by piece. This will cause a lot of headaches for less experienced users who just started their crypto/cars journey – it’s oh so easy to make mistakes.
The technology seems to put spokes in its own wheels (pun somewhat intended).
Following this train of thought, fiat (that’s just national currency) is still largely preferred for its simplicity and out of sheer force of habit. Terms like liquidity mining, staking, and POS stop people from entering crypto, and uncertainty and disbelief are still wide-spread, because crypto remains a mystery to the general public.
Nevertheless, crypto is here to stay. So what do we do?
We change how you interact with crypto
Do you know how your bank works? What about your phone? Really though, do you know the inner workings of banks, the intricate mechanism that makes money go from point A to point B? No, and you shouldn’t. Ever.
The same thing applies to crypto and DeFi.
At Changex we’re building what can be defined as a personal finance omni-tool, a powerhouse of an app that gives you good old mobile banking, crypto, and DeFi investment and passive income tools in one powerful suite. All on easy mode, in understandable language, with zero complications.
Our goal is to change your entire money experience – how you manage, invest, and earn on your assets, how you use them, how they work together to create amazing opportunities for you. How?
A DeFi Wallet with Crypto-Friendly Banking
With Changex, crypto is no longer a riddle to be deciphered. Inside the app, crypto ad DeFi are laid out in simple terms. Mechanisms like staking are no longer mysterious, but rather explained and made to work at the tap of a single button. They are designed in such a way as to let you always stay in control and stay safe, while still tapping into an unprecedented pool of opportunity.
The promise of DeFi is that you control everything – your data, your assets, your money. We’re reviving that promise and then some.Nick Iliev, Changex ceo
The Changex ecosystem will provide you with the power to tap into the enormous potential of DeFi, while giving you the absolute best of banking – traditional bank accounts and a Crypto Debit Card for incredible added value. Everything in one place, designed in a way to work together seamlessly. Banking that is intertwined with crypto and DeFi.
Passive Income Like Never Before
Investing is no longer a mystery, and no longer the prerogative of a select group of people – it’s at the tip of your fingers.
Staking for passive returns that no traditional bank will ever provide is a standard offering of Changex, and we will be working to diversify the staking opportunities by adding more such tokens. Lending is something to consider – users will be able to lend stablecoins for consistent returns, while powering a unique mechanism that we call Leveraged Staking.
Leveraged Staking is something that has not been done before. It is a tool meant to amplify the staking yield of staked tokens, and it has two use cases:
- For the user: any token that you stake in Changex can be leveraged, generating 1.2-2x more staking rewards, while maintaining very low risk. Learn more about it here.
- For the token developer: you can amplify the staking yield of your POS token by integrating it into Changex – your holders will love you for it. Get in touch with us and we’ll tell you all about it.
Pay with crypto – anywhere, anything
We envision crypto becoming mainstream, accessible, and usable – this is where the Changex Crypto Debit Card comes in.
It will allow you to spend your digital assets without impairing your staking rewards and without costly and cumbersome transfers. Using the app to choose the token you want to spend – any token – allows you to pay with your Crypto Debit Card anywhere, with unprecedented flexibility and freedom.
You can also pay using staked assets or just staking rewards. In theory, if your staking rewards are large enough, you could only use them for your day-to-day spending, while your staked amount remains the same. The opportunities are endless.
A token of real utility
The Changex ecosystem is powered by the CHANGE token — a deflationary asset that harnesses the power of other POS assets in the app, generating higher rewards with every next one.
The CHANGE token is:
- Deflationary – a finite supply of 425 million tokens is all that will ever exist;
- Burnable – transactions in Changex serves to reduce the total supply;
- Unique – when you stake CHANGE you get the baseline APR at that moment, but for every other staked asset in Changex you increase your CHANGE APR, with stacking bonuses. This mechanism is explained in detail in our whitepaper;
- Democratic – it will allow users to vote on new listings into the platform;
- Multi-chain – CHANGE can be traded on multiple blockchains, and can also be staked on HydraChain and Ethereum. More chains will be added in the future.
An ICO That Speaks for Itself
Changex completed its initial coin offering (ICO) on 1 July amid a bear market with 1.8x oversubscription for its $1.2 million soft cap. The ICO thus helped us secure enough funds for the next two years of development. We have not stopped ever since. But who are we?
The Changex team
Our founders are serial entrepreneurs with unique backgrounds in both finance and IT. We, the team, have extensive experience in developing blockchain and FinTech solutions, and you can explore our bios and learn more about our past and current endeavours here.
A community to be proud of
The Changex community comprises seasoned DeFi and crypto veterans who really know the tech and its inner workings, and there are also users who can’t wait to get their hands on the Crypto Debit Card and utilize their crypto, simplifying their day-to-day lives. What unites them is their curiosity, their support and dedication to the project, as well as their creativity when it comes to ideas about Changex’s future.
Thank you for reading,
The Changex team