Coinspeaker DeFi Protocol Chainge Secures $13M Investment to Enhance Cross-chain Trading 

Chainge, a cross-chain liquidity protocol, has received $13 million in funding from two crypto-focused investment companies to expand its business offerings and make cross-border trading more accessible to users across the world through artificial intelligence (AI) solutions.

In an announcement on Monday, the decentralized finance (DeFi) protocol said it received a $10 million investment from GEM Digital and $3 million from Alpha Token Capital (ATC) bringing the total funding to $13 million.

💥 Chainge has secured $13Million in investment from GEM Digital & Alpha Token Capital to supercharge our AI-Trading Protocol's Expansion!

This leap is poised to drive sustained growth, bringing cutting-edge AI-driven solutions to a global audience

📰 https://t.co/PXDtO1np1H pic.twitter.com/CTKk30I90l

— Chainge 🪢 (@FinanceChainge) May 27, 2024

Chainge initially floated the idea of raising the funds from unnamed investment companies to its community members on April 1, 2024.  The platform which had about $100 million in total value locked (TVL) at the time sought the approval of its token holders on its decentralized autonomous organization (DAO) to raise the funds.

Chainge’s Expansion Plans

Part of the proposal included the unlocking of 50 million of its native token called XCHNG into the market. Once released, the figure represents about 10% of the token’s current circulating supply.

While the network did not announce the outcome of the proposal, the community appears to have accepted the deal. Hence, the announcement that it has secured funding from two investment companies.

The new capital will be used to support the network’s development and growth. The platform plans to use the funds to make Chainge more visible to global audiences by investing in advertising to attract more users.

Additionally, part of the funding will go into recruiting top talents to enable the fusion of artificial intelligence with cutting-edge technologies.

The cross-chain protocol plans to stick with its proposed plan of making the platform one of the leading liquidity providers in the industry. The funds will also go into providing support for other partnerships and rewards for token holders.

Chainge Adds Support for Kaspa

Chainge, launched in 2021, aims to redefine standards in cross-chain trading, seizing emerging opportunities in the burgeoning crypto economy.

With Najam Kidwai, Mike Lempress, and Dejun Qian on its board, the platform equips users with the tools needed to access various cryptocurrencies across any blockchain.

Chainge has been making significant strides in the industry, becoming the most liquid cross-chain crypto trading platform. The platform touts itself as the most “advanced DEX aggregator ever developed.”

Last year, the platform integrated with Kaspa, the world’s first blockDAG focused on building an open and scalable payment network.

Chainge CEO Dejun Qian stated that both platforms share a vision for a more open and decentralized financial system.

He further noted that this shared vision attracted Kaspa to collaborate with them, emphasizing that integrating Kaspa’s network into Chainge will offer users a more “seamless and secure experience

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DeFi Protocol Chainge Secures $13M Investment to Enhance Cross-chain Trading