Dear Chainge DAO members,
At Chainge, we remain fully dedicated to upholding our commitments and ensuring the best possible outcomes for our community. Over the past two quarters, despite facing a challenging market, we’ve continued to strengthen our foundation, achieve key milestones, and make substantial progress across multiple areas. Today, we want to share both our achievements and plans, and provide a transparent update on the Q2 profit distribution.
Reflecting on the Last Two Quarters:
The past quarter was a tough one, not only for Chainge but for the broader market as well. The price of XCHNG faced significant pressure, dropping from $0.263 to $0.037. We know this has been a difficult period for all of us, but despite these challenges, the core business remains stable and we continued to generate significant income.
We’re particularly proud of several key achievements over the last two quarters:
- Product Development:
1. We successfully moved a substantial amount of XCHNG to Ethereum in Q2, opening new liquidity channels and enhancing the token’s cross-chain utility.
2. We deployed a series of new features at lightning speed, such as: limit orders, token import, the earn module, chainge dapp 2.0.
3. We integrated and facilitated trading for non-evm chains such as Solana, Tron and Koinos + afferent wallet support. - Business and Marketing Developments: Our partnership efforts have yielded promising results and we’ve been expanding our ecosystem by integrating more chains, deploying more bridges, bringing in more users and positioning ourselves to grow further. Some of our partnerships include but are not limited to: Koinos, Syscoin Rollux, Propbase, Kaspa, BitLayer, SuperDapp, Manta, Elastos, Qubic and lots more in the pipeline.
These accomplishments reflect our ongoing commitment to building a sustainable and robust ecosystem, regardless of market volatility.
Looking Ahead: Focus for Q4
As we move into Q4, our focus remains on growing transaction volume and further expanding Chainge’s offerings. We’re targeting several exciting developments:
- Expanding the Earn Feature: Our popular Earn feature will be rolled out to additional chains, allowing us to attract more users and drive further engagement across multiple ecosystems.
- Partnerships with Fiat On/Off Ramp Providers: We’re working with service providers to simplify the process of bringing fiat into the crypto world and vice versa, aiming to significantly boost transactional volume.
- Collaborating with Market Makers: We are working on solutions that help market makers more easily liquidate their altcoins. This initiative is expected to further increase our transaction volume.
Volume remains a key focus for us in Q4, and these initiatives are designed to bring in new liquidity and bolster the overall health of the platform.
Profit Sharing Update: Q2 Commitment
Regarding the Q2 profit-sharing commitment, rest assured that it remains firmly in place. The profit airdrop will be derived from the income generated by transaction fees and distributed across four tokens: XCHNG, USDT, ETH, and wBTC.
However, due to the market impact on the price of XCHNG, we are carefully evaluating the best approach to distribute the remaining profits, up to our 800k target. This process will take additional time, as we want to ensure a solution that is both sustainable and beneficial for all vXCHNG holders. The allocation across the four tokens is still being finalized, and we will provide updates once a decision has been made.
In the meantime, below you can find the list of eligible addresses for the Q2 profit-sharing:
Please note that the distribution will be deferred while we determine the most suitable token proportions. Additionally, the eligible addresses for the Q3 profit-sharing will be announced in Q4 and we will provide further details on that process as well in due time.
Looking Toward a Bright Future Together
We recognize that the past quarter has been challenging, but we remain optimistic about the future. With the upcoming initiatives in Q4, we are confident that we can continue building momentum and delivering value to all of our community members. As always, our focus is on long-term growth and with the continued support of Chaingers, we are poised to achieve our goals.
We sincerely appreciate your patience and trust as we work through these complexities. Together, we will continue to strengthen the Chainge ecosystem and unlock new opportunities for our community.
Thank you for your continued support.
Best regards,
The Chainge Board
