A decentralized finance (DeFi) service provider, Chainage, is ready to take the next step of its rapid growth through an investment round of $13 million for protocol advancement. The movement is conditional on holders going in for a form of voting. This would be through DAO. It is estimated that the $100 million TVL is a way to provide Chainage with a foothold in the rapidly growing and highly competitive DeFi ecosystem.
Protocol expansion plan
If DAO gives an affirmative, Chainage will proceed further and explain all the investment requirements to set concrete terms and actions to be taken. An undisclosed VC fund aggregating $13 million has floated a token offer, which would amount to another 50 million XCHNG protocol tokens, subject to the fulfillment of the token generation event. The tokens would represent around 10% of Chainage’s total supplies. The offering or issuance price, pegged at $0.26, perfectly mirrors the XCHNG’s tokens value at the publication time.
The users of XCHNG can stake their tokens towards vXCHNG, and by doing this, they will have a voting right. Chainage will do everything possible to improve the customers’ usage and profitability and, of course, aims to create at least 1 million dollars of profit in Q2. Impressively, 80% of this profit will go to vXCHNG holders, and it will be distributed
Development in the world market and expanded advertising ability were the main goals of the $13 million raise. To ensure the best talent and integrate AI with state-of-the-art technologies, Chainage aims to recruit the top individuals, positioning itself as the expert on AI-driven crypto solutions. With the new capital (if approved), they will help bring liquidity to the markets, look for new partners, build up advertising campaigns, and provide bonuses for token holders.
Community support and voting status
The community has voted massively for a ‘yes’ to the proposal, with 186 million XCHNG voting in favor, a ‘no’ of 7.2 million XCHNG, and a backdrop of 474 million XCHNG in circulation. Such deep support highly marks how confident the society is in the leadership of Chanage and future achievements.
Chainage chose a different way from the very first venture capital entered into the crypto industry. To begin with, Chainage announces its ambition of being contrary to the typical startups that sometimes need shareholders’ backing in the next investment steps, joining the list of projects that reflect the real meaning of the space. It is also manifested in the fact that DAOs and decentralization of governance processes are becoming the key actors in the crypto sphere.
Additionally, Web3 startups have found a place within accelerator programs, which is a promising phenomenon, particularly as the thematic interest in the crypto industry grows. Accelerators open startups a way to the help of funding, mentorship, and a series of networking opportunities, as investors might be the most influential and speedy growth tools in the building crypto world.
The initiative behind Chainage’s philanthropic deeds of raising $13 million for the protocol establishment has resulted in tremendous commitment and growth within the decentralized finance sector. Through a joint effort of community workers and a steady plan for fund utilization, the project will consolidate its tough in the crypto-active world.
Chainage takes center stage in this revolution by adopting a governance framework based on decentralized decision-making supported by next-generation strategies. Consequently, a new chronicle of decentralized finance begins to form, generally known for expertise, freedom, and ecological friendliness.
