Oana Batran, Chainge Finance CBO, on the World’s First Decentralized Exchange App by@justin-roberti

Oana Batran, Chainge Finance CBO, on the World’s First Decentralized Exchange App

Decentralized Exchange (DEX) is popular with the blockchain world but most people use centralized exchanges. Chainge DEX has a very wide range of significant benefits, Centralized Exchanges simply cannot attain, such as: Custody, Trustless Transactions (Overseen and recorded by the exchange.) Low Fees (The DEX will charge a fee as low as 0.1% for exchanges.) Privacy (You don’t need to share information, you keep custody of your assets) We are the first ones in DeFi history to implement a 100% decentralized Options DEX.
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Justin Roberti

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An interview with Oana Batran, Chainge Finance CBO, on the strengths of DEX’s and the need for interoperability.


The idea of a Decentralized Exchange (DEX) is popular with the blockchain world -- after all, decentralization is one of our core values -- but even the most popular DEXs like Uniswap (16% market share) and Pancakeswap (8%) don’t have anywhere near the number of users of a major centralized platform such as Coinbase, Gemini, and Binance.


So, what keeps even experienced blockchain and crypto advocates from taking advantage of the freedom and reduced fees of DEXs?


We revisited the strengths of DEXs, said Oana Batran, CBO of Chainge Finance.


Oana Batran

Oana Batran

DEX’s are a popular idea, but most people use centralized exchanges. Why should users be concerned about using a DEX?


First and foremost, there is no comparison between Centralized Exchanges (CEXs) and DEXs when it comes to control over one’s assets. But the Chainge DEX has a very wide range of significant benefits, Centralized Exchanges simply cannot attain, such as:


  • User Experience
  • Cross-chain transactions
  • Custody (The Chainge DEX is non-custodial)
  • Diversity with a wider range of coins
  • Trustless Transactions (Overseen and recorded by the exchange.)
  • Low Fees (The DEX will charge a fee as low as 0.1% for exchanges.)
  • Privacy (You don’t need to share information, you keep custody of your assets)


These are just the tip of the iceberg because our main focus at the moment is the derivatives market. We are the first ones in DeFi history to implement a 100% decentralized Options DEX - which implies any user or project can join the big leagues and write, exercise, trade, and distribute options with just a few taps. A tool reserved only for specialized traders and institutions is now at everyone’s fingertips as we ultimately aim to offer a fair financial market and equal opportunities to all.


You say you are the only DEX App -- is there a significant difference in user experience?


The Chainge app is designed specifically to simplify all operations a user might need to perform. From cross-chain transactions to swapping and earning – it can all be done with a couple of taps.

Just think what a nightmare it is right now to simply move an asset from one chain to another using CEXs. With Chainge, you can have your assets switch between chains in a matter of seconds without wasting time and the money you would spend by doing it in the traditional way.


Tell us about your Magic Button? What is that bringing to the UX experience that's new?


The magic button was designed to simplify day-to-day operations and to provide users with an easy and highly efficient way to secure their wallets.


You can use the magic button to connect with friends in the Chainge app: by scanning their QR codes, they will automatically be added to your contact list, which means you can send or request assets from them in the blink of an eye. Users can also use it to scan QR codes associated with other Chainge wallet addresses and pay to retailers on the spot. And soon enough, you’ll be able to use it to Initiate or enter an escrow smart contract.


But probably the currently most talked about role of the magic button is the one it plays in the security sector. So, here’s what happens:


Users can encrypt their wallets’ seed-phrase in the form of a unique QR code generated by the Chainge app. This QR code can then be imported back into Chainge by using the magic button that scans and decrypts it. The thing is that absolutely no one else can decrypt your unique QR code.


And this is the main reason why your QR code, once encrypted, can literally be stored anywhere from cell phones, emails, and any other public cloud service. Because even if someone else manages to find it, there is absolutely no way for them to decrypt it. You can frame it and hang it in front of the mall if you like. No one, except you, with your phone and your passcode-protected Chainge app can scan and decrypt it.


Interoperability seems to be a big focus for your project -- who are your partners, and how does this benefit the user?


There are a lot of projects out there claiming they are developing cross-chain tech or even cross-chain DEXs. But the truth is that Fusion DCRM is the only technology in commercial use at the moment.


Anyswap, Nerve, and Multichain are all using Fusion DCRM to provide cross-chain bridge services. However, anyone who has used these bridges will sense that the user experience lacks in some areas and is definitely not ideal: users have to constantly configure networks and can only do one cross-chain transaction at a time.


What Chainge did is basically take the cross-chain experience to the next level: Cross Chain Roaming.


With Chainge, users don’t even have to care which chain their assets are on when they are trying to make transactions, make swaps in DEX, add liquidity (or write an option). Even if the users’ assets are split between 5 or 6 different chains, they can just proceed with their operations as usual without worrying about the cross-chain issue.


Partners such as Polygon or OKEx are currently using our cross-chain technology and more will soon follow as they gradually understand the power that lies behind this amazing, one-of-a-kind opportunity. We are able to accommodate any kind of project and actually encourage them to apply as our selection criteria is correct, transparent, and straightforward.


The chains we currently support in the Chainge app are Bitcoin, Ethereum, Fusion, TRON, BSC, HECO, OKExChain, Polygon, Fantom, and we’re currently in the process of adding Solana, plus a lot more chains in the pipeline.


What farming opportunities is Chainge offering?


The Chainge Finance liquidity pools have introduced a pair of new products that are designed to make the process of passive income generation accessible and convenient.


The Spot and Futures liquidity pools provide payouts to all participants in native platform CHNG tokens, ensuring full transparency and instantaneous transfers of rewards. Liquidity mining with Chainge is made easier than with any other service on the market, as users can claim the rewards directly by receiving them in their wallets in real-time, thanks to the convenient function that is accessible via the application in just a few clicks.


The “star” of the “show” currently is the use of the single token farming approach in the form of the Spot asset/TF-asset pairs, which implies that users face NO impermanent loss.

We’ve currently hit $60 mil in TVL locked, so we believe we’re off to a good start that was obviously boosted by the higher than average APYs we offer.


Currently, there are over 150 liquidity pools operating on the market, with the TF-USDT/USDT futures pool brandishing a Total Value Locked of $20.6 million, with rewards in CHNG in it standing at 108.917%.


Chainge recently demoed the DEX App on BadCrypto and CEO DJ Qian, who publicly disclosed his encrypted seed phrase during the show and challenged hackers to go ahead and hack his wallet. BadCrypto recently joined the Chainge Board of Advisors.


The Chainge DEX app can be downloaded free on Google Play, the Apple Apps store, and from the website.


Cover image modified from Gerd Altmann from Pixabay

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by Justin Roberti @justin-roberti.Writer/producer-gaming, tech, web culture, fintech, crypto, & nerd lore #benzinga #hackernoon #thegrowthmanifestopodcast
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