The Charged Particles homepage starts with a question:
What’s in your NFT?
NFTs are special because they are more than tokens. Typically, an NFT is nothing more than a token embedded with an image, video, or video file, subsequently making NFTs unique. Because of tokenization and the distribution of the blockchain, various dApps launched projects to decentralize finance, leading to DeFi—an $83 billion success—only in Ethereum.
NFTs add more features different from ordinary tokens: The ability to truly own digital assets and then depend on the power of blockchain to engage in other activities.
Introducing Charged Particles
The Charged Particles project is a stand-out innovation in the burgeoning multi-million NFT space introducing new features.
The project is unique because it introduces an element of DeFi, NFT convenience, and blockchain agnosticism–distinctive and equally attractive features of the Ethereum-based project.
The project creators are keen on building a new asset class in NFTs in “charged” assets. This, in their projection, will be the cornerstone of what they expect to the true DeFi Lego digital economy.
It only makes sense because Charged Particles creators expertly merge NFTs with exciting aspects of DeFi.
And how do they achieve this?
Charged Particle creators allow users to add any ERC-20, ERC-1155, ERC-721 tokens into NFTs. The ability to add or “embed” tokens in an NFT, essentially creating a basket of currencies, distinguishes this project, injecting value.
And it doesn’t end there.
The flexibility of including any ERC-20 token—event those which can bear interests without losing ownership—is what analysts project will bring NFTs and DeFi closer, bridging them.
A charged particle is, in layman terms, interest-bearing NFTs. A “particle” is created when an interest-bearing token (DAI or Aave’s aToken) is infused into the NFT. Since they accrue interest over time, this particle is “charged” with rewards. Like in every other setting, the charge of every particle will depend on the interest rate and the holding period.
Unlocking Convenience and Creativity
The beauty in all this is the convenience that comes with this extension.
Notably, even though Charged Particles allow NFTs to include other NFTs and normal Ethereum-based tokens, these particles are still compliant with the ERC-721 standard.
At the same time, they are non-custodial. That means these tokens are controlled by users, exercising power via various non-custodial wallets, including MetaMask, Formatic, Dapper, and others.
Consequently, these particles—charged or not—can be transferred to other users and even auctioned in existing NFT marketplaces like Rarible or OpenSea. There are direct benefits to end-users from this arrangement, opening the flood gates of creativity.
Time-Locks and Programmable Yields
As the project continues to build, the development team has indicated that they will introduce other customization, including Time-Locks and Programmable Yields. Using Time-Locks, the project will allow users to charge a particle—an NFT—for a certain period before unlocking yields.
At the same time, the concept of programmable yield would automatically bring more functionality.
An NFT user can choose to charge the particle with any supported interest-bearing tokens, giving it an edge.
Time-locks and programmable yields can be included in one operation, enabling the eventual swapping of these charged tokens. Once swapped, they can decide what to do with the “charge.” Depending on their needs, they can choose to redeem them—discharge– or further transfer them.
Presently, Charged Particles support Aave Tokens. To further draw new users, depositing ERC-20 tokens and NFTs into a particle is currently free.
The development team has indicated that in the future, they plan to charge a fee in all placements from creators who wish to charge and sell their NFTs or third-party integrators who want to charge particles straight from their platforms.
Revenue will be at the protocol, not the dApp level, and the team will concurrently strive to decentralize progressively. Therefore, in the future, monetization methods will be later determined by the community.
Charged Particles Team
The Charged Particles Finance team is led by:
- Rob Secord is the founder with over 20-years working as a Full-Stack Engineer.
- The co-founder and business lead, Ben Lakoff, is a global trotter who has built a global finance network spanning four continents.
The two are supported by other team members in engineering, marketing, artist onboarding, growth, and design.
They are further advised by Leighton Cusak—the CEO of PoolTogether–and DeFi Dad—a DeFi Educator and CDO Zapper.
While he advises the team, Cusak also strongly believes in the project’s potential.
He is one of the many Angel investors, including Stani Kulechov of Aave, Tyler Ward of BarnBridge, Matty Ferrick of Nifty Gateway, and others.
Even as they build, Charged Particles are also supported by heavyweight crypto funds, including MoonWhale Ventures—serial investors and involved in several high profile projects—Parafi Capital, CoinGecko LongHash Ventures, and more.
Charged Particles (IONX) Tokenomics
Priming the Charged Particles ecosystem is the IONX utility and governance tokens.
IONX is used to pay transaction fees within the ecosystem. Meanwhile, token holders—as the project plans to progressively decentralize—would participate in governance by voting on changes that might include fee structure.
There are 100 million IONX tokens in total supply whose distribution is as follows:
- One million tokens were set aside for public sale.
- Seven million was set aside for the foundation
- 20 million were distributed to investors
- 23 million is under the team and investors
- Forty-nine million is for the community. Thirty percent will be distributed to liquidity providers in Uniswap.
There will be a token release schedule. Distribution will be done gradually once all the tokens have been distributed after two years. Charged Particles creators have indicated that there will be a two percent annual inflation. Extra tokens will be minted and distributed by the Charged Particles DAO.
At the time of writing, each token is trading at $0.48 for a market cap of around $3.38 million from the 7,059,207 IONX in circulation. IONX is fairly liquid, with an average of $72k in daily trading volumes.
The team raised $200k via Polkastarter. The 960 investors who participated are up 2X their investment.
According to Etherscan, 1,020 holders have generated over 11.2k transfers.
IONX is available for trading at the Ox Protocol and Uniswap–where it is paired against ETH.
Charged Particles (IONX) Catalysts
- IONX investors who took part in the token sale are already up 2X at spot rates—even though the token is down 69 percent from its all-time high. This highlights just how valuable the project is.
- IONX market cap is comparatively low—at just $3.8 million—versus the DeFi and NFT ecosystem, which commands billions and hundreds of millions. This is an undervaluation that investors can take advantage of.
- The token is only primarily available in Uniswap and the Ox Protocol (DEXes). Once listing is on CEXes like Binance with their global audience, its valuation would highly likely expand. At the same time, liquidity would rise to new levels.
- The team is experienced and is interested in seeing the project not only generate revenue but decentralize. IONX token holders, therefore, stand a chance to take charge of proceedings via a DAO.
- Building is ongoing. While aTokens from Aave is the only supported interest-bearing tokens, the team plans to support other tokens such as DAI or Compound’s cTokens. Besides adding interesting-bearing tokens, developers are also planning to release a front-running prevention feature.
- Leaders of other projects support Charged Particles. For example, Stani Kulechov of Aave, Tyler Ward of BarnBridge, Matty Ferrick of Nifty Gateway, and more are angel investors. At the same time, crypto funds like Moonwhale Ventures are investors. It highlights the quality of the project.
- IONX will be distributed for two years from the day of listing at Uniswap—when yield farming started. Before then, opportunistic investors can scoop tokens at spot rates and wait for even more gains in weeks and months ahead.
- Charged Particles development team is aware of the high fees in the Ethereum base layer. To mitigate rising fees without compromising security while enhancing the client experience, it will launch as a side chain in the EVM-compatible and highly scalable Polygon.
- The project is secure. Charged Particles code is audited by Arcadia Group. Its code was rigorously checked under different conditions, including optimization analysis, and found to be fault-free.
- Charged Particles project is creating a new asset class that brings DeFi and NFT closer. In addition, the introduction of innovations like nested NFTs and Yield Multiplier NFTs would significantly boost the liquidity of NFTs.