New York, NY, United States, 17th Aug 2022, Chainge Finance proposes decentralization as an answer to those stakeholders using centralized finance (CeFi) that have been affected by bankruptcy, acquisitions, and debt restructuring. With users and investors facing things like frozen withdrawals and bankruptcy hearings, a process is needed to protect these people from additional financial burdens and stress. Decentralized Finance can address this issue, namely through the use of Chainge’s unique and innovative technology.
DJ Qian, founder & CEO of Chainge Finance said “The best and most logical way to address this issue (and any future ones) is to achieve decentralization together. Moving assets to another centralized entity wouldn’t make sense as the key issue is the users’ ownership rights over their assets. Decentralized finance is the ultimate solution. Secure and reinforced by code. Not promises.”
The move to decentralization would allow users full ownership over their assets and would also reduce overall losses. As a leading decentralized finance platform, Chainge will make efforts to protect the interests of users who have suffered losses during these types of events and to try and avoid the same, or similar, things happening again in the future through the use of (DeFi) decentralization technology.
Not only do decentralized tools imply a way to prevent centralized entities from taking custody of a users’ assets in the future, but they also provide an on-the-spot, secure, efficient, and straight-forward method to return assets to victims who deserve to be made whole again without fearing the risk of yet another centralized entity managing their funds through the process.
Decentralization (as opposed to centralization) has undeniable advantages when it comes to trust and transparency. This comes down to the fact that the user is the one in control of their own assets. This means that there is no risk of losing ownership of the assets since only the user can access them. These assets will continue to exist on the blockchain no matter what, ensuring that secure management of these assets can be met while maintaining transparency. This also reduces the risk of asset mismanagement, human error, and mal-intended use.
With recent announcements such as pauses to withdrawals & transfers from particular CeFi entities, millions of investors have been affected. While market conditions play a large role in this, the infrastructure of CeFi is not established to support this amount of pressure while maintaining stability. As the most liquid web3 trading venue on the market and a forerunner in decentralized tech innovation, Chainge provides a viable and effective solution to these unfortunate instances.
As a leading DeFi utility app, and the most liquid cross-chain aggregator on the market, Chainge Finance is in a unique position of minimizing future damages. Through the use of DeFi, along with Chainge’s innovative technology, protection of users and investors can be achieved while ensuring prevention of loss.
About Chainge Finance:
Chainge Finance is a next generation DeFi app that stands as the most liquid web3 trading venue on the market, with over $70bn in aggregated liquidity. Chainge provides various cryptocurrency management tools such as a cross-chain wallet integrating 27 EVM & non-EVM compatible chains – so that users can seamlessly swap, send and receive crypto assets across networks – an Escrow Module, a top DEX Aggregator, a Futures DEX, and the very first decentralized Options DEX, all powered and secured by the innovative Fusion DCRM technology.
Change Finance App: https://app.chainge.finance/mymobile
Organization: Chainge Finance
Contact Person: Jill Moss
Email: Send Email
City: New York
Country: United States
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Unique Analyst journalist was involved in the writing and production of this article.