As more research is done on the application of decentralized systems into day-to-day interactions, the interest in cryptocurrencies continues to gain traction. Today, central banks are making efforts to launch the Central Bank Digital Currencies (CBDC).
In an attempt to get ahead of the stablecoin thrills, Corion Foundation launched in 2016, with the aim of popularizing and developing stablecoins and other cryptocurrency-based projects. Currently, this Switzerland based platform plans on entering the market with its own stablecoin, Corion pay.
Consequently, the foundation is introducing CorionX, a modern blockchain hub for stablecoin users that aims at boosting the adoption of stablecoins, central bank digital currencies, decentralized finance, and other technologies. In simple terms, CorionX is a platform of products and services that integrates stablecoins, central bank digital currencies, and decentralized finance projects.
Features of the CorionX Ecosystem
While TorrentFunk is encouraging the global adoption of digital assets, it provides a means for the unbanked population to access swift, safe, and open finance. It is supporting mobile money payments through the launch of a mobile wallet dubbed the white label software.
White label software will provide the next generation of mobile payment services. It will allow highly scalable, fast, and cheap transactions among stablecoins, CorionX, and ERC 20 tokens users. The wallet will be an interoperability solution by integrating partner services, DeFi, and cryptocurrency savings to expand CorionX capabilities.
Furthermore, the platform provides the CorionX utility token, which will enable individuals to benefit from the evolution of money through its movement, MoneyInTheRightDirection. The movement aims at educating people, merchants, hedge funds, and financial service providers on Open finance solutions, stablecoins, and cryptocurrencies.
People who join the education movement can own and manage their digital assets through the CorionX wallets, use, invest, and enjoy the benefits of using digital coins instead of fiat currencies. CorionX also partnered with Syscoin to provide the Syscoin Bridge.
Syscoin Bridge is a decentralized interoperability solution supporting CorionX and its ERC-20 tokens for MovieBox, decentralized finance tokens, and Ethereum-based stablecoins. It is a cross-chain bridge that provides not only scalability solutions but also microtransaction capabilities. Platform users will enjoy fast and cheaper microtransactions supported by Syscoin’s robust blockchain security and unique Z-DAG Protocols.
The Benefits of CorionX
The CorionX ecosystem provides unprecedented capabilities and benefits, partly through collaboration to foster scalability and interoperability. Platform users and asset holders will enjoy a range of benefits, including:
One of the significant ways through which digital assets owners make money is through staking. However, most platforms require asset holders to lock up their assets for them to earn rewards.
CorionX is making the difference by supporting both the staking with lockup and staking without lockup options. Staking without lockup means that individuals can earn rewards from their staked CorionX balance in their ETH wallets while still using them in transactions.
However, staking without lockup will attract a lesser reward of 2.5% quarterly. Lockup staking will boost their rewards to 15% APR. Furthermore, CorionX will support the integration of centralized and decentralized finance for the mainstream’s easy access and enable them to earn rewards from stablecoin lending and cryptocurrency savings.
CorionX holders will also earn discounts by simply holding CorionX balances and being part of the platform.
CorionX Foundation targets to increase the global stablecoin use to 20 million daily. Currently, statistics focus on the volume of daily transactions, but CorionX is shifting the focus to the number of individual users.
However, CorionX is not merely pushing individuals and groups into the stablecoins, decentralized finance, and CBDC world. It uses its movement, MoneyInTheRightDirection, to educate people and onboard individuals who understand stablecoins and cryptocurrency projects as a whole.
Furthermore, there are several other educational programs that are currently under development, geared towards supporting stablecoins, CBDC, and CORX token adoption. The tally of daily stablecoin users will manifest the success of these educational programs. Any CorionX holder will have a special ticket to be part of the teams running CorionX campaigns.
Providing Multiple Use-Cases
In the past, most cryptocurrency projects have focused on a few services, including providing wallets, exchanges, and staking. CorionX is currently providing additional use cases, including rewards, membership fees, bug bounties, and reward programs, among others.
Furthermore, the platform continuously engages in collaborations to provide its users with better infrastructures and favorable conditions. One of its current collaborations is the link with Fuse to develop the Fuse Chain and Ethereum Bridge to support the transfer of ERC-20 tokens between the Ethereum Network and the Fuse Chain.
The CorionX wallet will be built on Fuse Studio, a decentralized application, and will allow users to hold different currencies, including fiat currency. All currencies stored will support stablecoins, CorionX, ERC tokens, and other stablecoins based on the Ethereum Network.
CorionX is providing cashback promotions as an incentive for adoption by merchants and service providers. The CorionX recruitment team will onboard merchants and service providers into stablecoins and agree on cashback promotions on CorionX.
Merchants and service providers have encouraged consumers to pay in stablecoins for them to earn cashback promotions.
In recent years, the cryptocurrency industry, more so stablecoins, have remained underexploited. One of the significant hurdles has been the lack of understanding of blockchain technology and digital assets.
As part of solving the problem, CorionX is employing education as one of its major programs to actualize the pattern shift. Also, notably, was the problem of having multiple financial technology experts competing against each other. As such, most of them have been providing primary and similar services.
However, CorionX is tapping the potential in partnerships to unlock stable coins. The Corion Foundation has already forged some partnerships that have seen it unlock unprecedented capabilities. The platform exploits Syscoin and Fuse’s powers through mutual agreements for scalability and interoperability solutions to foster stable coin and Defi adoption.