Chainage, a decentralized finance (DeFi) service provider, is poised to enter its next phase of rapid growth with a $13 million investment round aimed at advancing its protocol. This move is contingent upon the approval of holders through a form of voting facilitated by a decentralized autonomous organization (DAO). The company aims to establish a solid presence in the rapidly expanding and highly competitive DeFi ecosystem with its total value locked (TVL) of $100 million.
If the DAO approves, Chainage will proceed by providing detailed investment requirements and outlining specific terms and actions to be taken. An undisclosed venture capital fund has offered $13 million worth of tokens, equivalent to 50 million XCHNG protocol tokens, pending the completion of the token generation event. These tokens will represent approximately 10% of Chainage’s total supply. The offering price of $0.26 per token accurately reflects the value of XCHNG tokens at the time of publication.
Users of XCHNG will have the opportunity to stake their tokens towards vXCHNG, granting them voting rights. Chainage is committed to enhancing user experience and profitability, with a target of generating at least $1 million in profit in Q2. Impressively, 80% of this profit will be distributed among vXCHNG holders.
The $13 million raise aims to support the company’s international expansion and enhance its advertising capabilities. Chainage plans to recruit top talent and leverage artificial intelligence (AI) and cutting-edge technologies to position itself as a leader in AI-driven crypto solutions. If approved, the new capital will be used to provide liquidity to the markets, seek new partnerships, launch advertising campaigns, and offer bonuses to token holders.
The overwhelming community support for the proposal is evident, with 186 million XCHNG votes in favor, only 7.2 million XCHNG votes against, and a total of 474 million XCHNG tokens in circulation. This strong support reflects the community’s confidence in Chainage’s leadership and future success.
Chainage has taken a unique approach compared to traditional venture capital in the crypto industry. The company aims to differentiate itself from typical startups that often require the backing of shareholders for subsequent investment rounds. By embracing the principles of DAOs and decentralized governance processes, Chainage aligns itself with projects that embody the true essence of the crypto space.
Furthermore, the inclusion of Web3 startups in accelerator programs is a promising development, particularly as interest in the crypto industry continues to grow. Accelerators provide startups with funding, mentorship, and networking opportunities, making investors a crucial catalyst for rapid growth in the crypto world.
Chainage’s philanthropic endeavor to raise $13 million for protocol establishment has garnered significant support and contributed to the growth of the decentralized finance sector. With the collective efforts of the community and a well-defined plan for fund utilization, the project is poised 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 marks the beginning of a new era in decentralized finance, characterized by expertise, freedom, and environmental sustainability.
