Chainge DAO Proposes Acceptance Of $13M Investment From Institutional Investor
In Brief
Chainge initiated a capital investment proposal worth $13 million in the Chainge DAO, inviting members to participate by casting their votes.
Cross-chain liquidity protocol Chainge (XCHNG) announced it initiated a capital investment proposal worth $13 million in the Decentralized Autonomous Organization (DAO), inviting members to participate by casting their votes.
The proposal seeks approval from the DAO to inject funds from a reputed investment group. Approximately 50 million XCHNG tokens will enter circulation upon approval, corresponding to roughly 10% of the existing circulating supply. This investment is expected to significantly enhance the utilization of Chainge’s products and services, aiming to guarantee a minimum profit of $1 million.
According to the proposal, this effort will focus on global expansion and enhanced visibility to drive technological advancement by recruiting top talent to integrate AI with state-of-the-art technology, positioning Chainge as a frontrunner among AI and cryptocurrency innovators.
Additionally, the proposal outlines various strategies aimed at boosting usage and profitability, guaranteeing that vXCHNG holders will achieve a minimum of $1 million in profits during the second quarter of 2024, with 80% of these profits slated for distribution among vXCHNG holders.
If the proposal receives approval, Chainge will collaborate closely with venture capital institutions to meticulously manage token circulation. Subsequently, further investment specifics will be refined, and comprehensive arrangements and plans will be outlined. Voting on the proposal is scheduled to conclude on April 8th, with the current support rate standing at 100%.
Chainge Unveils XCHNG Governance Token for Community Participation in Decision-making
Chainge, formerly Chainge Finance, operates as a comprehensive decentralized finance (DeFi) application. Its goal is to create a cryptocurrency marketplace and to evolve its advanced product into a universal swap protocol for all tokens, employing the DAO approach. Recently, the platform unveiled its governance token XCHNG, allowing community members to partake in decision-making processes.
The XCHNG token offers users the opportunity to obtain voting rights within the Chainge DAO by acquiring vXCHNG tokens. Users can stake XCHNG through the Chainge decentralized application (dApp) in the designated DAO section to receive vXCHNG tokens. Moreover, holding vXCHNG tokens also entitled users to a share in 80% of the company’s profits.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
