If I ask you what’s the one thing that has been stopping DeFi from gaining mainstream adoption, what would you suggest? Regulatory hurdles? Perhaps. Lack of awareness? Maybe. That’s also possible. But is that all? Nope, actually.
A large number of stablecoins and DeFi projects developed with the same or similar functionality are also responsible for it. What they do is they end up cutting and competing against each other, and make it difficult for people interested in DeFi to choose a stablecoin of their choice.
But what if there’s a way these projects could interoperate? What if there was a way to facilitate inter-chain transactions between each of these projects? There’s no doubt that it can make choosing a coin much easier for anyone, thus improving the chances of DeFi’s mainstream adoption.
And that’s precisely what CorionX is trying to achieve. With its Staking reward, Cashback, and Wallet, it’s providing a way to facilitate interoperability between various stablecoins and DeFi projects.
Stablecoins supported by CorionX
The CorionX platform supports almost all popular stablecoins and DeFi projects, including Tether, USDC, DAI, and Gemini Dollar among others. Each of these coins will be used by the users of CorionX platform to make or receive payments in their CorionX wallet. They can also convert the amount received to any other token of their choice.
All these conversions and transactions are enabled by the CORX token, which is the native token of CorionX platform. This token acts as ‘gas’ for enabling the adoption of these stablecoins.
CORX token listings and offerings – existing and upcoming
Now you must be wondering about the status of this CORX token at the moment. Has it been issued or not? What is its total supply, what its distribution looks like, when will it be listed, etc. So, the CORX token has already had a very successful IEO in partnership with the Probit exchange. Now they’re also conducting their first IDO, or Initial DEX Offering in partnership with Tokenizer DEX. The issue is open till 15th of November, post which the CORX token will be listed on Tokenizer, Probit on 16th of November and Uniswap soon.
CorionX has also done a number of partnerships to further improve the experience of its products and services. The company doesn’t shy away from the idea of joining hands with other industry players, some of whom may also be its competitors, to improve its offerings and boost the mainstream adoption of DeFi. Some of its major partnerships include FUSE, SysCoin, XcelPay, TEAL, and CoinMarketAlert.
Here’s what each of these partnerships provide to CoroionX:
- FUSE partnership allows them to develop a superior backend experience for their products,
- XcelPay allows them to expand their userbase because that is a merchant POS and wallet solution,
- TEAL partnership helps them utilize the power of AI for their products and services
- And CoinMarketAlert partnership allows them to boost their userbase by providing free one month gold membership of CoinMarketAlert’s portfolio tracking services to new users who sign up.
Other Initiatives of Corion Foundation
CorionX Project and Corion Foundation – the nonprofit company behind it – are not limited to providing products and services alone. They also organize a number of movements and educational programs to increase the awareness about DeFi and stablecoins. Their #MoneyInTheRightDirection movement has been a huge hit, and with this combination of products, services, educational programs and awareness campaigns, they have a vision of achieving 20 million daily stablecoin users by 2021.
In a nutshell, CorionX and Corion Foundation are doing everything they can to boost the adoption of stablecoins and DeFi. Consequently, as the DeFi economy grows, they will emerge as one of the biggest beneficiaries of its rise. CorionX has that potential, which is why you should consider purchasing CORX tokens through the IDO that is open till 15th of November. After the IDO, the token will be listed on exchanges, which means that you won’t be able to purchase it at a discounted price. So think about it!