If you look at the development of crypto-economy in the last few years, you’ll find that decentralized finance has grown significantly. Stablecoins, decentralized exchanges, and other decentralized crypto projects have taken off in a big way in the last 2-3 years. In fact, their growth has been so impressive that now even Central Banks of various countries are considering launching their own Digital Currencies, or CBDCs.
However, in spite of that the mainstream adoption of decentralized finance, or DeFi, as it’s popularly known, can’t come until there’s some sort of integration and interoperability between them. If there are hundreds of DeFi projects and tokens competing against each other, with new ones being added every day, then there’s a very low chance that any of them will ever be able to achieve a level of adoption that it can revolutionize the global financial economy. That’s where projects like CorionX come into the picture.
What is CorionX?
If you want it to be described in a line, CorionX is an ecosystem of products and services that act as a bridge between various DeFi projects, stablecoins, and CBDCs. With its wallet, cashbacks, and staking without lockup CorionX has developed a kind of ecosystem that supports all popular stablecoins (i.e. Tether, DAI, USDC, USDT, Gemini Dollar, etc.) and also allows interoperability.
What it means is that if you’re a business, and you onboard the CorionX platform with its merchant gateway and wallet, your customers can pay you in any of these popular tokens and you can easily convert them into a token of your choice. You can also make payments in any of these tokens, and someone else receiving them in their CorionX wallet can convert it into any token of their choice from these available options.
Now, a critical question that may be coming to your mind is… how is the cost of transactions, or gas, charged in such transactions. And the answer is CORX – the native token of CorionX platform, which operates with interoperability bridges to scale up, fast, cheap tranactions on the Ethereum blockchain. The Corion Foundation – a nonprofit company managing the CorionX project – recently finished the successful IEO of CORX token, and now they’re also holding their first IDO or Initial DEX offering in partnership with Tokenizer decentralized exchange. Once that IDO has finished, the CORX token is set to be listed on Tokenizer, Probit, and Uniswap exchanges simultaneously.
Is that all?
But is it all that’s done by CorionX and Corion Foundation? Absolutely not. Products and services are just a part of everything that’s done by them. The Corion Foundation also organizes several DeFi awareness campaigns and educational programs to raise awareness and knowledge about the benefits of decentralized finance. Their #MoneyInTheRightDirection movement has become a huge success to educate others about the benefits of DeFi and stablecoins, and they’re also developing 9 other educational programs in partnership with others to improve the adoption of stablecoins, CBDCs, and of course – their own CORX token!
The mission of CorionX is to see an economy of 20 million daily stablecoin users by 2021. Right now we stand at….ummm, don’t know! Nobody even talks about the daily users of stablecoins at the moment and things are defined only in the terms of transaction volumes. CorionX wants to change that by creating an economy that is 20-million strong so that no individual or institution can ever dismiss the idea of DeFi.
As we explained in the beginning, DeFi has tremendous growth potential and a lot of it has also been unlocked in the last few years. However, true potential can’t be tapped until there’s a lack of interoperability and standardization among various stablecoin and CBDC projects. Hopefully, CorionX will be able to play that role with its suite of products, services, and educational programs. If there’s anything else that you want to learn about them, you can learn it from their official website Corion.io, or you can simply leave your question in the comments and we’ll try to answer it as soon as possible. And if you’re already in, start experiencing the world of DeFi with CorionX now!