The burgeoning world of decentralized finance (DeFi) has sparked innovative solutions aimed at revolutionizing traditional finance, but certain obstacles, chief among them user experience, stunt widespread adoption. Many regard this hurdle as an opportunity to introduce financial technology apps catered towards traditional finance users while offering DeFi functionalities, thereby acclimatizing newbies to the concept of self-custody, a tenet of digital finance often misjudged as arduous.
A shining beacon in this redevelopment is Changex, revered as Web3’s Swiss Army knife of personal finance, has joined the Cointelegraph Accelerator. Changex, in its innovative stride, integrates crypto trading and lending into a familiar environment, reminiscent of traditional banking, and even includes an upcoming Visa debit card in its package.
Platforms like Changex are paving pathways for a more seamless transition between centralized finance (CeFi) and DeFi. The fusion of both concepts, aptly known as CeDeFi, promises users full responsibility over their crypto assets in a non-custodial environment, complete with the capacity to buy, sell, or transfer crypto. Changex offers compatibility with multiple blockchains including Ethereum, Polygon and Binance Smart Chain.
Staking, which typically bears high yield returns, is also a salient feature of the Changex app, with lending and stablecoin interests soon to follow. For those who stake, Changex promises additional APR on staking rewards with its native token, CHANGE.
Changex has scored a place in the Cointelegraph Accelerator courtesy of its expert team and a user-friendly interface that makes room for both Web2 and Web3 users. Not to mention the traction it has gained with about 25,000 monthly active users and roughly $3 million of staked assets.
The future of Changex presents more milestones, with Avalanche blockchain integration on the horizon. Subsequently, Changex plans to launch its biggest update by the fourth quarter of 2023, introducing its Visa Debit Card and Inter Bank Account Number (IBAN), empowering users to command over their finances.
However, the user-friendliness and Web2 familiarity the likes of Changex bring to the table beg the question: As we edge towards DeFi, are we inadvertently crafting a mirror of traditional systems we mean to leave behind? Only time, forward-thinking, and innovative platforms like Changex can weigh in on this subtle twist of irony.
Source: Cointelegraph
