Chainge Finance is a decentralized finance platform on the Fusion blockchain, empowering users with complete asset control and innovative financial instruments. It offers cross-chain DEX, Futures DEX, and Options DEX, enabling smart contract-based asset management. The platform also provides cross-chain decentralized escrows for seamless business transactions. However, some projects may not align with Shariah principles and are still in progress.
| Category | Details | Status |
|---|---|---|
| Legitimacy | Chainge Finance demonstrates legitimacy through several positive aspects. Firstly, the project provides clear information about its team, which enhances transparency and trust. Additionally, the availability of a whitepaper with substantial information showcases a commitment to detailing their vision and goals. Although some projects are still in progress, this indicates ongoing development and innovation within the platform. | Passed |
| Project | Chainge Finance is a decentralized finance (DeFi) platform built on the Fusion blockchain that enables users to have complete control over their assets and engage in innovative financial instruments without intermediaries. It aims to empower individuals worldwide to become their own digital banks, offering automated financial services for 100% freedom and security. Chainge introduces features like cross-chain aggregated DEX, Futures DEX, and Options DEX, allowing users to manage their assets through smart contracts, facilitating flawless business transactions and future financial arrangements. Additionally, they provide various financial services like cross-chain decentralized escrows, easing daily business transactions. However, it's important to note that some of their projects may contradict Shariah principles, such as decentralized loans and the Futures DEX, which are still under development. | Failed |
| Financials | The token is not backed by any equity, thus there is no financial screening on this token. | Passed |
| Token | The Chainge token (CHNG) is built on the Fusion blockchain, utilizing the FRC-758 standard that implements real Time Frame technology. CHNG serves multiple purposes within the Chainge ecosystem. Firstly, it acts as a performance bond in the escrow module, providing a 40% discount on the standard fee of 0.5%. Additionally, holding CHNG grants users voting privileges in the upcoming Chainge Launchbox, enabling participation in decision-making processes. Furthermore, CHNG serves as a universal gas for any chain within the Chainge application, facilitating transactions and interactions across the platform. Overall, CHNG has utility as a performance bond, voting right, and universal gas, enhancing its significance and use case within the Chainge ecosystem. | Grey |
| Staking Method | Chainge offers a unique staking feature called time-framing, which allows users to engage in single-sided staking. Through time-framing, users can stake their assets, such as USDT, and earn a fixed 12% Annual Percentage Yield (APY). The Future DEX projects are closely related to this staking method. In addition to the fixed APY for USDT, varying APYs are available for staking other assets within the Chainge ecosystem. | Failed |
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