Chainge Finance

About Chainge Finance

Chainge Finance is a decentralized finance (DeFi) application operating on the Fusion blockchain, designed to provide users with automated financial services and complete control over their assets. The company was founded in 2020 by Dejun Qian and officially launched in January 2021. Qian, who holds a degree in Computer Science from Fudan University, previously worked at IBM for over a decade before entering the crypto space in 2013. He is also the founder of BitSE, VeChain, QTUM, and the Fusion Foundation, the entity behind the technology Chainge is built upon.

The platform's core offering is its non-custodial mobile wallet and cross-chain decentralized exchange (DEX) aggregator. This technology allows the application to scan over 20 DEXs across more than 55 EVM and non-EVM compatible chains to find the best trading rates for users. The platform integrates a DEX for spot trading, a futures DEX, and an options DEX, enabling users to trade, create options contracts, and engage with futures markets in a decentralized manner. Chainge also features a decentralized escrow service, reducing counterparty risk and fees for various transactions. Other services include express bridging, limit orders, and potential future offerings like offshore banking facilities.

Chainge Finance's business model involves charging a 0.1% service fee on transactions. The company has stated it uses 25% of its profits quarterly to buy back and burn its native token, CHNG, from the market. The CHNG token is used within the ecosystem for governance, staking, and receiving discounts on trading fees. In May 2024, Chainge Finance secured $13 million in a Series B funding round led by Gem Digital. In December 2023, the company was acquired by Coded Fi Ltd. and subsequently rebranded from "Chainge Finance" to "Chainge."