Introducing the Chainge Token (CHNG)

chainge.finance

We are very excited to share more information about the token economy available on Chainge. As expected, Chainge, bringing a new era of automated finance, will introduce a token in our ecosystem. The ticker will be CHNG and we love to call it chainges”.

Please find below a comprehensive list of questions and answers shedding some light on how the token works. Also, a couple of key points:

  • There is no token sale at all.

Questions and Answers

Question 1:

Which public blockchain will the CHNG token use?

Answer:
CHNG will use Fusion network (learn more about it, here). But, thanks to Fusion’s brilliant tech and DCRM cross chain technology, CHNG can easily and smoothly be routed to Ethereum Network or BSC (Binance Smart Chain — read more about it, here).

Question 2:

Does the CHNG token have a token sale session?

Answer:
No. CHNG, the Chainge ecosystem token, will not be part of any token sale. All CHNG will be distributed to the community for free, in exchange for performing various tasks that will be requested over time from early adopters.

What tasks do I have to complete to get the CHNG token?
Please read below, we will provide all the details and even more information will be available at the next website update.

Question 3:

Does the team or the company have any allocation of CHNG?

Answer:
No. The team and the company do not have any allocation of CHNG.

Question 4:

How does Chainge, the company, make money?

Answer:
There are multiple ways of monetization for Chainge, as a company. Some of them are evident and can be shared as of now and others are still in progress. More information will be released at a later stage.

To begin with, Chainge users will pay a fee to the company (in a decentralised way) when starting to use the automated financial services built within the application. Examples of such services are cross-chain swaps, getting loans or opening auto aggregations / split accounts with friends and partners.

We are evaluating multiple revenue streams connected to upcoming features. Further details will be shared at a later date.

Question 5:

Does CHNG token have value? Is CHNG a kind of governance token?

Answer:
No, CHNG does not have any value.
However, Chainge, as a company, will use 25% of the profits to buy back from DEX and burn CHNG every quarter. This means that CHNG holders virtually hold 25% shares of Chainge, although CHNG holders do not receive any dividends. But, de facto, using 25% of the Chainge profit to buy back and burn implies that the holders share in the success of the company.

Question 6:

Is there any other usage of the CHNG token?

Answer:
Yes. There will be multiple uses, in progress at the moment and to be shared at a later date, when the application launches.
For now, we can share that CHNG will be used to exempt the fee applied the moment the user benefits from various features of the application. This exemption can be for a longer or shorter time frame and we also reserve the right to add, remove or modify the uses of the CHNG token, in synchronization with the product development and strategy.

Question 7:

How do we get CHNG tokens?

Answer:
We planned a staged release of the product, in order to engage communities, validate various strategies and gather social interest in multiple market segments. We aim to give every early adopters the chance to earn CHNG tokens ahead of the application launch time and use it when the product is out.

Everything will be very simple.
Before the application is out,
users will be asked to perform several tasks on the website. For each task they will be rewarded with a specific amount of points. The ratio between a point and a CHNG token is 1:1. All the points collected on the website will be transformed into CHNG tokens at the product launch.

Example: If you collected 1.000 points on the Chainge website, you will have 1.000 CHNG tokens at the time of the launch.

Here are a couple of possible examples of involvement to be requested from early adopters and which can be executed starting with the next version of the website:

I. Joining the waiting list
Staged releases don’t imply that we don’t validate the product concept with the market segments we address. Actually, our purpose is to have a strategic approach in which we enhance security by discovering early stage bugs, developing various mechanisms to control access and, also, validating ideas by exposing the product to a controlled set of segments.

Starting with the next update of the website, the waiting lists will be open. Any early adopter who is interested in being part of the Chainge ecosystem will have the chance to join the waiting list.

The reward for joining the waiting list is 50 points (50 CHNG tokens).

II. Referrals
We will have a referral system in place, which allows any user to ask a friend to sign up and join the waiting list. The reward mechanism for referrals is described below:

A. Referring a direct friend who signs up and joins the waiting list rewards you with 10 points (10 CHNG tokens).

B. For each friend of your friend’s (level 2) who joins the ecosystem, you get 3 extra points (3 CHNG tokens).

C. For each friend of a friend of your friend’s (level 3) who joins the ecosystem, you get an extra 1 point (1 CHNG token).

III. Building your profile
For an early adopter who creates an account on the website, there will be a series of tasks required to build the profile. This profiling part helps us better personalize the Chainge app account and is also linked with various product strategies and marketing efforts intended for a later stage.

Building the profile, like any other task, is not mandatory — so it’s up to each and every one whether they choose to fill in the information and then earn rewards.

III.1. Inputting phone number.
The phone number will be your unique access to the Chainge application. Inputting the phone number early stage (action to be available starting with our next version of the website) rewards you with 30 points (30 CHNG tokens).

III.2. Connecting social networks
Early stage adopters will be able to connect on the website various social networks, like Facebook, Twitter, Linkedin, Telegram and Douyin. The reward for connecting these networks is 15 points (15 CHNG tokens) per each network.

III.3. Input the Fusion public address
We are preparing various more incentives accessible to early adopters — to be announced at a later date. The reward for inputting the Fusion public address is 30 points (30 CHNG tokens).

IV. Amplifier
Via our upcoming amplifier system, early stage adopters will be able to participate in our marketing efforts, by amplifying various designated materials that we share.

You spread our news and get rewarded.
Amplifiers are made of a controlled mechanism in which we reserve our rights to post specific content we want amplified, at a specific time. An amplifier may or may not have an end date.

Also, an amplifier can be either an article, a video, a text or a link. More details on the way the system will work specifically are to be released at a later date. Rewards for amplifiers are mentioned below:

For amplifying a specific content you are rewarded with 30 points (30 CHNG tokens). If the amplifier is successful, we provide extra points, as follows:
- 5 extra points (5 CHNG tokens) for every 10 likes on the amplifier.
- 5 extra points (5 CHNG tokens) for every 2 re-shares of the amplifier.

Please note:

  • We reserve the right to adjust the rewarding system designed for any of the above tasks.

Question 8:

Which is the total supply of CHNG?

Answer:
Calculating the total supply of CHNG tokens is quite straightforward.

At the app launch date, the total amount of CHNG tokens earned by the community until that time, will be multiplied by 10 and that will be the total supply of CHNG token.

Example: If, by the launch date, the community will have earned 1M of CHNG tokens through performing various requested tasks, the total supply of the CHNG will be 1M x 10 = 10M.

Question 9:

Since the total CHNG tokens earned by the community at the app launch date is 10% of the total supply, what is the rest of the 90% of supply used for?

Answer:
The rest of the 90% of supply will also be distributed to the community, but inside the application.

Specific examples:

  1. 15% of the total supply will continue to be distributed as rewards for the community, through various other activities performed within the application.

Question 10:

How will the Fusion network benefit from the Chainge app?

Answer:
We don’t attach great importance to the specific cell phone carrier we use, as long as it fulfills our need to communicate. Similarly, massive user adoption in blockchain will not be ultra dependent on which particular network an app is or is not using.

However, Fusion network does provide us with a brilliant infrastructure, designed for the future of finance.

Users will enjoy the extremely low gas fees and smooth tx experience. Also, TL (Time-Lock) and QS (Quantum Swaps) are two unique features of Fusion network, which Chainge will use to provide fantastic, automated finance to mass users. Together with a top class User Experience, Chainge will build the ecosystem for the future of finance.

In return, Chainge will also use 25% of the company profits (beside the portion used to buy back CHNG) to buy FSN from DEX and put it in the balance sheets as assets reserve.

About Chainge

Chainge, fueled by the brilliant infrastructure of Fusion, offers coded financial services one tap away. It is the gateway to decentralized, automated finance: the foundation of the upcoming internet-of-value revolution. With Chainge you are in complete control of your assets: no boundaries, no middlemen, just smooth and uncomplicated interaction with your money.

For more information, please visit us:

Your own DeFi universe in one app. Powered by cross-chain magic.