Charged Particles has undoubtedly taken the cryptocurrency space by storm, smashing past 17k participants as the world seeks to experience the uniqueness of the all-inclusive NFT ecosystem. The increasing popularity of the platform in a relatively short while has been substantiated by a recent announcement that Charged Particles got over 17,000 participants for the IDO (Initial Decentralized Offering). The feat is particularly remarkable considering that the whitelisting of the offering was only launched on May 20th, with the Charged Particles’ Governance Token $IONX public launch on May 31st, 2021 exclusively on Polkastarter.
Overview of the Global NFT Market
The emergence of non-fungible tokens has been described by many as the next big in the world of cryptocurrency. The global market has literally exploded in recent times, as more businesses and individuals look to leverage its features and benefits. According to a report by NonFungible.com, a leading NFT market analyst firm, “the on-fungible token (NFT) market tripled in 2020, with the total value of transactions hitting $250 million, a 299% increase year on year.” Despite the amazing figures from the market, tons of stakeholders still struggle to be a part of the fast-emerging concept, which is where the team at Charged Particles is seeking to make a change.
Introduction To Charged Particles
Charged Particles was created in early 2020 as an NFT protocol that combines NFTs and DeFi in an unprecedented way. The protocol launched on Ethereum MainNet on 17 February 21 and has continued to attract interest from all categories of stakeholders.
Charged Particles is an innovation that aims to make it a lot easier for artists, creators, and developers to create superpowered NFTs with DeFi yield-bearing utility. The protocol is designed to allow users to mint unique non-fungible tokens, and charge them with DeFi functionality, ultimately providing speculative value and accrued interest value.
Charged Particles will enable the transformation of any NFT into a basket containing other ERC-20 tokens as well as other non-fungible tokens. Consequently, the NFT ecosystem becomes scalable, allowing users, especially creators, to load their NFTs with an interest-bearing token, accruing interest as time goes by and giving the token a “Charge.”
The platform is the first-of-its-kind that gives more value to NFTs, taking them beyond being unique collectibles by leveraging its innovative capabilities to load NFTs with yield-bearing tokens. Consequently, DeFi (Decentralized Finance), trading, gaming, and governance worlds can take advantage of NFTs to enhance their processes.
Key Events and Achievements
Since the launch of Charged Particles, the innovation has achieved some level of success as highlighted below:
- Some of the biggest MetaVerse parties ever recorded, with the next scheduled for 18 June 2021.
- The sales of Charged Particles NFT have exceeded $2 million, including a 42 ETH ($150K) sale of “Pandora’s Box” a rare NFT containing 14 other NFTs ‘nested’ inside.
- Release of Lepton NFTs — Rare yield-multiplying NFTs to be used when liquidity mining on Charged Particles goes live in June.
$IONX Initial Decentralized Exchange Offering (IDO)
The IDO follows hot on the heels of the 10x oversubscribed seed round of Charged Particles, which attracted some of the biggest Web3 investment houses in the cryptocurrency space to take the investment raised to more than $2m in total.
$IONX is the native governance token for the Charged Particles Protocol, with a total supply of 100,000,000. The supply will be broken down across community, investors, team, advisors, and foundation, with 50% reserved for Charged Particles community members and 1% allocated to the public listing during the IDO on Polkastarter May 31.