ChangeX launches token on HydraDEX and Uniswap

DeFi project ChangeX has launched its CHANGE token for trading on HydraDEX and Uniswap. The app supports trading pairs to offer a range of possibilities to investors, BTC and ETH cross-chain swaps included.

The CHANGE token launch comes as a result of ChangeX completing their ICO, defying bear market sentiment. The ICO resulted in close to USD 2 million proceeds which will fund the company’s operations for at least 24 months, providing a financial starting point despite what some might consider unfavourable market conditions.

CHANGE was introduced to the app on 19 July 2022 together with in-app staking and compounding of rewards, paid out in CHANGE. The staking APR on release day was in the 500% range without including compounding of staking rewards. As the company says, the launch was met with enough demand, and in less than 24 hours 13.2 million tokens were sold on HydraDEX, while a total of 11.5 million were staked. Additionally, 1,87 million tokens were sold on Uniswap.

As Co-founder Gary Guerassimov  says, CHANGE and HYDRA are the building blocks of the future of ChangeX. For that reason, all new features that are planned to be added to the project will be built around them. Several core functionalities will offer different possibilities that users can use to their advantage. The future purpose is to create an all-in-one app ecosystem that works on interoperability and simplicity, as Gary says. The end goal is an app that offers ease of access to DeFi, crypto, and traditional finance.

Future plans

In Q3 2022 ChangeX will implement delegated HYDRA staking, granting users access to staking without the need to set up a node. The developer team is also focusing on setting up the foundations for ChangeX’s open lending market and its flagship Leveraged Staking product, which will offer margin positions on multiple staked assets in the app, with the proposition of amplifying yield by a factor of 1.2x to 2x.

ChangeX also plans on 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. For now, the ChangeX app is available on the Google Play Store for Android users and on the App Store for iOS.

Back in June US-based Uniswap Labs acquired NFT marketplace aggregator Genie in a push to support trading of non-fungible tokens in the future. In the future the company also plans to integrate NFTs into their developer APIs and widgets.