[PRESS RELEASE – Sofia, Bulgaria, 9th June 2022]
Hybrid Banking/DeFi project ChangeX is proud to announce the onboarding of a new advisory board, with experts of SoftBank, Merrill Lynch, and Citibank fame. The move reflects ChangeX’s efforts to streamline institutional capital acquisition and strategic development, after successfully oversubscribing the ICO for the CHANGE token by 180% on June 1.
ChangeX’s newly formed advisory board sees SoftBank Vision Fund’s Neil Cunha-Gomes, whose crypto investments include Consensys (one of the most reputable brands in the industry, behind flagship projects such as MetaMask) and Elliptic (one of the most trusted crypto compliance solutions providers) , working alongside seasoned experts Dimiter Gurdjilov and Stefan Ivanov, who together have 50+ years of experience with finance, investments, and capital management.
“We are extremely excited to have Neil, Dimiter, and Stefan onboard as our advisory team. Together, they represent what ChangeX is about, bringing knowledge of traditional finance, cryptocurrencies, and the DeFi space – the three pillars of our project”, said ChangeX CEO Nikifor Iliev. “Neil’s experience at SoftBank, and Dimiter, who has worked for Merrill Lynch Asset Management, JPMorgan, and George Soros’ Bedminster Capital, will bring invaluable insight to ChangeX.”
The third member of the advisory board is Stefan Ivanov – an alum of Harvard Business School’s Program for Leadership Development and a senior banker with 25+ years of experience at Citibank, Banque Paribas, and Challenger Capital Management, who has also served as the CEO of Citibank Bulgaria.
“With Stefan, Dimiter, and Neil, we feel pretty confident for the future. The CHANGE token is 180% oversubscribed.”, added by Mr. Iliev. “The numbers are remarkable considering market conditions, and paint a long-term profile for investors. This is evident through our self-vesting mechanism, which many of them used to lock their tokens for an average of 11 months. The locked amount turned out so high, that when CHANGE is released on September 30, there will be only 67 million tokens in circulation in the 11 months that follow. Because of CHANGE’s design and utility, and because it is deflationary, we’re expecting a very stable and sustainable aftermarket economy”, Mr. Iliev concluded.
After the commitment phase, where investors pay the rest of their deposits, is completed in June, CHANGE will make its initial DEX offering (IDO) on the HYDRA DEX in the first week of July. Investors who missed the ICO will be able to buy the token on a first-come, first-served basis.
The ChangeX app and CHANGE staking are set for an official release in July, with the beta version already available on the Google Play Store and App Store.
ChangeX is an all-in-one personal finance mobile app that merges traditional banking, crypto, and DeFi. ChangeX will offer users a personal bank account, access to multi-chain crypto, and high-APR DeFi tools such as Leveraged Staking, which doubles the rewards on all staked assets. ChangeX’s focus falls on passive income and crypto empowerment and will allow users to spend any in-app token on anything via its ChangeX Crypto Debit Card. Users will be able to lend their stablecoins, use locked and flexible staking, buy and pay with fiat, and swap crypto on the native ChangeX DEX, with everything being accessible in a few simple clicks.
Follow the project on Twitter and Telegram for more information and regular updates.
ChangeX.io founders Nick Iliev and Gary Guerassimov have a rich history of developing successful crypto and fintech products, among them xChange.bg – Bulgaria’s leading crypto exchange. HydraChain and LockTrip co-founders Nikola Alexandrov and Hristo Tenchev are also on board, each bringing seven years of blockchain experience to the project. The project’s CTO Martin Kuvandzhiev is one of the core developers at Bitcoin Gold – a hard fork of the source Bitcoin code, which brought decentralization back to retail traders and made mining via common GPUs possible again.