The commitment phase of the CHANGE ICO is on until June 30, and we’ve been getting some questions about how exactly it works. We’ve received various inquiries, actually, like when will CHANGE staking be online, can vested CHANGE be staked, and, in general, what’s next for ChangeX. Here’s the gist of it.
The commitment phase — what is it, how does it work
Right, so the commitment phase is the period where investors have to provide the remaining 97% of the subscription they made in the first phase of the ICO (only 3% of the whole amount were due in that initial stage, which ended on May 31). Paying for the rest of the subscription can be done using our platform and via any supported currency therein. You can also choose to pay in installments, so little by little until you fulfill the pledge.
If we hit 100% of commitment during this phase, and that’s the important part, when the CHANGE tokens are released to their respective investors in September, then for a whole 11 months there will only be 67 million tokens in circulation. This is because of the average self-vested period of 10.8 months, which means that all those tokens will be locked out of circulation and will leave a relatively small amount of CHANGE as circulating supply, which will in turn offer very high APR to stakers.
Once the commitment phase concludes on June 30, we will take CHANGE to the HYDRA DEX for the Initial DEX Offering (IDO), where all investors will be able to buy CHANGE on a first-come, first-serve basis. This should happen in the first days of July, and the initial price of CHANGE will be $0.016.
So these are two options to buy CHANGE, but what are the pros and cons of each?
ICO-bought vs IDO-bought CHANGE
There is a trade-off when it comes to buying CHANGE during the ICO (which is no longer possible; you can only finish your subscriptions) and buying during the IDO event on the HYDRA DEX, and this is what it looks like.
Buying at the ICO
Pros
✔️ You make sure you buy at the low price of $0.016 per token
✔️ You can self-vest your tokens, so that you reduce the circulating supply of CHANGE come September, and you ensure that you will not sell prematurely due to market volatility (or other reasons)
✔️ Self-vesting makes sure you keep a larger amount of tokens because of the quota reduction protection (2.5% for every month of vesting)
✔️ ChangeX is for the long-term holders, with CHANGE offering better cash back rates, higher staking rewards, and access to free services, so holding more CHANGE is always good
Cons
❌ You cannot stake your ICO-bought CHANGE until your self-vesting period expires, and…
❌ … even if you don’t have self-vesting on, staking will be available to you end of September
Buying at the HYDRA DEX IDO
Pros
✔️ You can stake your CHANGE immediately once the CHANGE staking functionality are released
✔️ A (very) high APR for CHANGE is expected once staking is online in the app
Cons
❌ You buy at an uncertain price — there is no other supply than the Hydra DEX initially, meaning that people can only buy and the higher the demand, the higher the price
❌ You cannot use self-vesting
As you can see, there are various benefits and some drawbacks when it comes to buying at different phases. If you already bought at the ICO though, then you are in a position to make the absolute best of this system, especially if you vested your tokens — first, you reduced the circulating supply of CHANGE and contributed to higher staking rewards; second, you made sure you bought at a low price; and, third, if you buy during the DEX offering, you can stake your coins once the app and staking are online, so you’re basically getting the best bargain for your buck — using self-vesting to secure more tokens, buying at a low price, and having access to staking as early as July.
A win-win however you look at it.
That’s basically it, but we’re open to all questions on Telegram. Also, follow us on Twitter for updates.
Thanks for reading,
The ChangeX Team
