Changer

Changer is a decentralized forex protocol that enables the issuance and trade of non-USD stablecoin that index more than twenty FX prices. Corporate users that require fast transaction speed and lower transaction fee can use the Changer CeFi version. On the other hand, people who are more familiar with DeFi can use the Changer DeFi version.

Changer offers both versions so that users can get the benefit of CeFi, meaning that it guarantees a high transaction speed and no transaction fee, as well as the benefit of DeFi, which enables access to our service without a complicated sign-up process. The CeFi version beta service has been ongoing since March 24th and the DeFi version will be released for the first time this fall.

Within Changer, in both the CeFi and DeFi version, there are no real FX transactions taking place. Instead, stablecoin transactions that index FX prices are made. Therefore, we are currently relatively free from existing FX government regulations, but we will actively comply with any changes to regulations on stablecoin transactions.

Changer receives price information from the crypto market and the FX market and creates real time exchange rates between various digital assets. The crypto prices are linked to major exchanges and OTCs. As for the FX process, it is either directly or indirectly connected to major banks and financial institutions.

When a user trades stablecoin on Changer CeFi version, Changer holds real foreign currency assets just like a hedge trade in the actual FX market. Just as USDT or USDC have real USD in the bank, when a user purchases eEUR from Changer, Changer CeFi buys and holds the same amount of EUR from the actual FX market. Therefore the Changer CeFi version functions in a way that’s similar to USDT or USDC.

On the other hand, the Changer DeFi functions like Maker. When the user issues eEUR in exchange for wBTC or ETH, they become the underlying assets. (the real time price feed for wBTC/eEUR or ETH/eEUR is provided by Changer CeFi version, which is already connected to the crypto and FX market therefore becoming an Oracle source to convey price feed to contracts)

If the collateral value drops, Changer immediately converts the collateral to real EUR (or takes the EUR Long position) to ensure that it reaches 1:1 ratio with the eEUR issued by Changer DeFi. Under such situations, Changer DeFi version can choose to use the CeFi version instead for securing the underlying assets and the liquidation of the collateral.

Changer’s ultimate goal is to become a currency exchange protocol that enables users to exchange ‘Anything to Anything”at the best exchange rate. That is why our brand is called the “Changer”.

Exchangeable items will include digital assets such as Bitcoin and Ethereum, various foreign currency price indexed stablecoins issued by Changer as well as various asset groups such as gift cards and companies’ mileage, loyalty points, CBDC, tokenized stocks, tokenized art/real estate, and synthetic assets in the future.

Institutions can have access to all of these digital assets at the best exchange rates and will also be able to easily convert one to another with a single API integration. Retail users will also be able to exchange any digital asset for another at the world’s most competitive price, including the previously inaccessible crypto OTC market price, regardless of the size of the transaction.

Chain Partners is one of the most well known blockchain companies in Korea. Led by CEO Charles Pyo, who was an advisor on blockchain and digital currency national strategies at the Presidential Committee on the 4th Industrial Revolution and the National Assembly’s 4th Industrial Revolution Special Committee, it has been leading more than 15 new blockchain related businesses in Korea since its establishment and 13 million dollars worth of VC investment in 2017.