If you look at the DeFi economy, there are many useful projects and tokens that serve a number of meaningful purposes. But there are few projects that perform the role of a facilitator for the interoperability of these projects.
There’s hardly any project in the market that can allow you to choose any stablecoin or CBDC of your choice without having to worry about what type of stablecoin or wallet is being used by someone else whom you want to pay. Wouldn’t it be better if there was any such project? Wouldn’t it be better if you could simply pay people in stablecoins without worrying about what stablecoin they use and their wallet can accept?
That’s precisely the problem that the founders of CorionX project realized a few years ago. They realized that it can be very beneficial for the mainstream adoption of stablecoins and decentralized finance if people can pay each other without having to worry about which stablecoin or wallet the other person is using. And that’s why they founded CorionX – an ecosystem of products and services that facilitates adoption of stablecoins, Central Bank Digital Currencies and DeFi projects.
Fast forward to today and CorionX is quickly emerging as one of the most successful projects in the DeFi world. Its CORX token IEO recently became a highly successful IEO on the Probit exchange.
What does the CORX token do (or aim to do)?
A question you may be thinking is what does the CORX token do (or aim to do). You already understand the purpose of CorionX project, and now, you’d definitely want to know more about the role of this token in the project.
So basically, it acts like ‘gas’ to facilitate the usage of various stablecoins supported by the CorionX project. The stablecoins, like Tether, USDC, Gemini Dollar, DAI, HUSD, etc., will be all supported by the CorionX wallet and payment gateway. A user of these products can make or receive payments in either of these stable tokens and earn cashbacks and staking rewards in CORX token.
CORX token offerings and listings
Another question on your mind is how can you purchase the CORX token for HODLing. Well, their IEO has already been subscribed successfully. However, their Initial Dex Offering is open at Tokenizer DEX and you can participate in it to get your first batch of CORX tokens. The last date to participate in IDO is 15th of November, post which it’ll be listed on 3 major crypto exchanges (namely Probit, Tokenizer, and Uniswap) simultaneously.
CORX token supply and distribution
The total supply of CORX tokens is set at 400,000,000 non-renewable tokens. Out of this supply, 64% has been reserved for the community, 15% for Loyalty Staking Rewards, 4% for bounties and teams, and 17% for the Foundation.
The circulating supply at the time of the listing is expected to be around 100,000,000. The token holders are also rewarded with a 2.5% loyalty staking reward on a quarterly basis, which makes this token even more lucrative for them.
So this is your brief introduction to the CorionX Project and CORX token. As you can see, it’s a token belonging to a project that aims to facilitate adoption of various stablecoins and decentralized finance solutions that may be built for different purposes (maybe even for competition with each other).
The team behind it aims to see a world in which 20 million stablecoin users transact per day, and that, too, in the near future (by 2021). That’s why we should keep an eye on this project, and also purchase its tokens for high staking rewards and returns in the future!