DeFi hub Chainage seeks tokenholder approval for $13M capital raise
Decentralized finance service provider Chainage, with around $100 million in total value locked, is seeking to raise $13 million for protocol expansion, contingent on tokenholders’ approval within its native decentralized autonomous organization (DAO).
According to the April 1 snapshot proposal, the $13 million raise, led by an unknown venture capital firm, will result in the issuance of 50 million additional XCHNG protocol tokens, representing approximately 10% of Chainage’s circulating supply.
