Zug, Switzerland, Nov. 09, 2020 (GLOBE NEWSWIRE) -- CorionX, the project that is revolutionizing and facilitating the adoption of DeFi and stablecoins with its #MoneyInTheRightDirection movement, is soon going to set a major milestone in its lifecycle. Its CORX token is going be listed on two major Decentralized Exchanges (DEXes), namely Tokenizer and Uniswap, which will fulfill a long pending demand of its community to trade the token freely, conveniently, and reliably on DEXes.
In order to facilitate this, CorionX is bringing an Initial DEX Offering (IDO) through Tokenizer. That IDO will open before 16th of November, which is the date set for the listing of CORX token on Probit Exchange. After IDO the CORX token will be listed on Tokenizer, Uniswap, and Probit exchanges around the same time. Funds raised through the IDO will be used for development purposes and for providing the much-needed liquidity.
In case you don’t know what IDOs are - they’re just another exchange offering, but one that happens on a decentralized exchange instead of the centralized one. In a nutshell, it’s IEO for diehard fans of decentralization.
Why an IDO? Why not IEO?
CorionX has already had a very successful IEO in partnership with Probit Exchange. Their CORX token, as we explained above, is also set to be listed for trading on Probit on 16th of November. However, as with anything related to centralized finance, the diehard fans of decentralization detest the idea of listings and offerings through Centralized exchanges. That is because decentralized finance brings greater reliability, transparency, and security to the overall system. In last few years the adoption of DeFi has also increased significantly, thus making it more important in the overall token economy.
Now since CorionX itself is also a DeFi project, it was obvious that its community members wanted the CORX token to be issued through an IDO. That’s why Corion Foundation decided to do this. In addition to that, the funds raised through IDO will also put Corion in a stronger position to further improve its platform and run its DeFi adoption movements.
Why Tokenizer DEX?
Many of you may be thinking about why the Corion Foundation choose Tokenizer DEX for its IDO. Well, that is for a number of reasons, but the major ones are as follows:
More than 100 tokens can be traded on it in a fully decentralized manner.
No Complicated or lengthy procedures required to start trading
On-chain token accreditation checks for investor protection
Social media login functionality to start trading immediately
High liquidity, because Tokenizer integrates well with other exchanges and industry players.
Tokenizer’s vision is to democratize and decentralize the world of finance with its innovative features, and each of these features serves exactly the same purpose. There’s absolutely no way to take control of the platform’s users funds like on centralized exchanges, users own their assets, which is why Corion Foundation chose them for their IDO over any other platform.
What is CorionX?
Founded in 2016, CorionX Foundation and Project is an ecosystem of various decentralized finance products and services to provide the best possible stablecoin usage and DeFi experience. It includes a wallet with scalable transactions, and a staking without locking up funds - all of which can be used by anyone who wants to board the bus. Their platform supports all major stablecoins and DeFi projects, including Tether, DAI, USDC, USDT, and Gemini Dollar, which means that you and your customers can use all these stablecoins to make payments through the products of Corion platform. Their CORX token works like ‘gas’ for rewarding users, and with facilitating interoperability. After IDO their token will become an even more important part of the crypto economy as its adoption will increase and more people will come to know about it, thus pulling them into the Corion network.
CorionX is also involved in various DeFi education programs to boost the adoption of stablecoins and DeFi. Their infamous #MoneyInTheRightDirection movement has led to the mass adoption of decentralized finance in many countries as awareness about the benefits of DeFi increased.
Some of the Features of CorionX:
● Staking without lockup: Holders of the CorionX utility token earn 2.5% quarterly staking rewards without needing to lock up their assets. This is distributed on the average CorionX balance held in the user's ETH wallet, leaving them free to transact and benefit from the token's utility without missing out on rewards.
●Increase rewards with lockup: Though token holders can earn a guaranteed 10.38% APR without staking locking up their assets, CorionX holders can opt for a lock-up period of 3, 6, or 12 months to boost their APR by up to 15%.
●Earn benefits: CorionX token holders can earn discounts and benefits for holding and participating in the CorionX ecosystem.
●Next generation of mobile payments: CorionX will launch a mobile Wallet (as white label software) that will use Fuse Network. This will power cheap, fast, and highly scalable stablecoin transactions within the community.
CorionX has forged a number of partnerships with various organizations and cryptocurrency projects to play more as a collaborator than a competitor in the industry. Their latest partnership was with Syscoin project, under which Syscoin’s interoperability bridge and Corion’s educational programs will try to utilize the powers of each other for boosting DeFi adoption. They also have a partnership with XcelPay Merchant POS and wallet provider, Artificial Intelligence startup TEAL, and another DeFi startup FUSE that aims to solve the scalability problem of Ethereum blockchain.
In short, CorionX is doing pretty much everything needed to improve the overall adoption of DeFi and stablecoins. As a result, it’s one of those few projects that will be the biggest beneficiaries of this financial revolution.