Chainage, a decentralized finance (DeFi) service provider, is poised for significant growth with a $13 million investment round to advance its protocol. However, the investment is contingent on a vote by holders through a Decentralized Autonomous Organization (DAO). This move aims to establish Chainage as a key player in the rapidly expanding and highly competitive DeFi ecosystem, with its $100 million Total Value Locked (TVL) serving as a solid foundation.
If the DAO approves, Chainage will proceed with outlining the investment requirements and setting concrete terms and actions. An undisclosed venture capital fund has offered $13 million worth of tokens, equivalent to 50 million XCHNG protocol tokens, pending the completion of a token generation event. These tokens will represent approximately 10% of Chainage’s total supply. The offering price of $0.26 aligns with the value of XCHNG tokens at the time of publication.
XCHNG users can stake their tokens to obtain vXCHNG and gain voting rights. Chainage is committed to enhancing customer usage and profitability, aiming to generate at least $1 million in profit in Q2. Impressively, 80% of this profit will be distributed to vXCHNG holders.
The $13 million funding round is intended to drive global market development and expand advertising capabilities. To achieve this, Chainage plans to recruit top talent and integrate AI with cutting-edge technologies, positioning itself as an expert in AI-driven crypto solutions. If approved, the new capital will be used to increase liquidity in the markets, seek new partnerships, launch advertising campaigns, and provide bonuses for token holders.
The community has shown overwhelming support for the proposal, with 186 million XCHNG votes in favor, 7.2 million against, and a total circulating supply of 474 million XCHNG tokens. This strong endorsement highlights the community’s confidence in Chainage’s leadership and future successes.
Chainage has taken a different approach from traditional venture capital in the crypto industry. It aims to defy the norm of relying on shareholder backing for subsequent investment rounds, aligning itself with projects that exemplify the true essence of the space. This shift reflects the growing prominence of DAOs and decentralized governance processes in the crypto sphere.
Furthermore, Web3 startups have found opportunities within accelerator programs, which is a promising trend as interest in the crypto industry continues to grow. These accelerators provide startups with funding, mentorship, and networking opportunities, making investors invaluable catalysts for rapid growth in the crypto world.
Chainage’s initiative to raise $13 million for protocol establishment has garnered significant commitment and growth within the decentralized finance sector. Through collaboration with community members and a well-defined plan for fund utilization, the project aims to solidify its position in the crypto-active world.
By adopting a governance framework based on decentralized decision-making and employing next-generation strategies, Chainage takes center stage in this revolution. This paves the way for a new era of decentralized finance characterized by expertise, freedom, and environmental sustainability.