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Post: Chainage Seeks $13M for Protocol Expansion: Token Issuance & Profit Focus

Chainage Seeks $13M for Protocol Expansion: Token Issuance & Profit Focus

Key Points:

  • Chainage plans to raise $13 million for protocol expansion pending approval from its decentralized autonomous organization (DAO).
  • The raise will involve issuing 50 million additional XCHNG protocol tokens at an issuance price of $0.26.
  • Tokenholders can vote on the proposal by staking XCHNG tokens for vXCHNG, which represent voting rights tokens.
  • Developers aim to enhance usage and profitability, ensuring vXCHNG holders a minimum profit generation of $1 million in Q2.

Chainage Seeking $13 Million for Protocol Expansion:

Chainage, a decentralized finance service provider with significant total value locked, is looking to raise $13 million for expanding its protocol. This move is subject to approval from the decentralized autonomous organization (DAO) associated with Chainage.

Issuance of Additional XCHNG Tokens:

The proposed raise involves issuing 50 million more XCHNG protocol tokens at an issuance price of $0.26 per token. This issuance would represent around 10% of Chainage’s circulating supply.

Voting Process for Tokenholders:

Tokenholders can participate in the decision-making process by staking their XCHNG tokens to receive voting rights tokens called vXCHNG. This setup allows tokenholders to have a say in crucial matters related to Chainage’s development and expansion.

Focus on Profit Generation:

Developers have outlined strategies to boost usage and profitability, aiming to generate a minimum of $1 million in profit for vXCHNG holders in the second quarter. This emphasis on profitability ensures a valuable proposition for the token holders.

Hot Take

Chainage’s transparent approach to seeking approval from its DAO for the fundraising, along with the focus on profit generation for token holders, showcases a commitment to community involvement and investor value. It will be interesting to see how this strategic move impacts the platform’s growth and token ecosystem.

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