Charged Particles’ much-awaited IDO starts on Polkastarter

Charged Particles is a relatively new protocol. It allows customers to deposit ERC-20 tokens into an NFT. As a result, users can now transfer a scarce NFT (e.g., Collectible, Art, In-Game Item, Virtual Real Estate, etc.) into a basket holding a number of other tokens. Furthermore, they can time-lock the Principal amount inside the NFT and get the programmable yield from the DeFi yield-generating assets through integration with the tokens.

Charged Particles decided to launch its IDO on Polkastarter on May 31st, 2021. The IONX token has already attracted lots of attention from investors. Its type is ERC20 ICO, and the price will be 0.20 USD per token during the initial coin offering. The platform will launch a total of 100,000,000 IONXs, but only 21% will be available for sale.

How does Charged Particles protocol work?

Let’s say a rare soccer card was purchased and loaded with $100 in 1920. Earning 8% per year, this card would now be worth almost $300,000. As a result, this collectible soccer card would have a $300,000 value today, along with the speculative value attached to it.

IONXs are Interest-bearing Non-Fungible Tokens or DeFi NFTs. Thus, “Particle” is a Non-Fungible Token minted with an interest-bearing token via the Charged Particles Protocol to accrue interest over time, giving it a “Charge.”

According to the team, the amount of interest earned from the specific token represents the amount of “Charge” that the particle has amassed over time.

Thanks to the Protocol, users will be able to turn any NFT into a DeFi NFT. And those NFT’s will have an actual underlying intrinsic value. Furthermore, they will accrue interest over time.

The Charged Particles are non-custodial, standard NFTs, and users can hold them in their wallets. They can also trade, transfer, or sell them just like any other NFT. However, the tokens’ value will increase over time.