Magnify Cash proudly reveals its cutting-edge DeFi protocol alongside an announcement for a Fair Launch of its $MAG token.
Singapore, Singapore, July 23, 2024, Chainwire
A revolutionary development in the decentralized finance (DeFi) space has arrived as Magnify Cash introduces its advanced DeFi protocol, heralding the Fair Launch of its proprietary token, $MAG. As a frontrunner in the fintech sector, Magnify Cash is positioned to transform the financial services ecosystem for both individuals and businesses.
A New Era for Decentralized Credit Markets
Magnify Cash is at the forefront of the next wave of decentralized credit marketplaces, facilitating liquidity for Real-World Assets (RWAs), Future Yield Tokens (FYTs), and countless other digital assets through its groundbreaking permissionless lending platforms.
Solving Key Financial Challenges
- Addressing Limited Liquidity: Closing the gap for a variety of digital assets.
- Embracing Decentralization: Removing the constraints placed by centralized lending institutions.
Innovative Products and Solutions
- Permissionless Lending Platforms: Enable borrowing and lending with any ERC-20 token backed by RWAs, FYTs, and various digital assets.
- Decentralized Borrowing Solutions: Delivering lending opportunities free from intermediaries, ensuring optimal security and openness.
A Unified Approach to Collateral and Currency
The Universal Collateral Acceptance offered by Magnify Cash accommodates a wide range of tokenized assets, including ERC-1155 and ERC-721 tokens. Users have the ability to utilize NFTs and tokenized real-world assets like art, real estate, bonds, and luxury items as collateral, thus unlocking liquidity without needing to sell these treasured assets.
Key Features
- Comprehensive Support: All-encompassing backing for lending currencies and loan collateral (ERC-20, ERC-1155, ERC-721).
- Smooth Operations: Asset-backed borrowing and lending with seamless creation and management of lending platforms.
- Boosted Liquidity: Extensive liquidity solutions for all varieties of digital assets, including stablecoins, ETH, liquid staking tokens (LSTs), meme coins, premium NFTs, and treasury items.
- Advanced Risk Management: A proactive interest rate framework utilizing linear interpolation and scaling variables, doing away with the reliance on oracles.
Robust Security and Compliance
- Guardian Protocol Audit : Ensuring top-notch security.
- Gaslite Gas Optimization Audit : Maximizing operational efficiency.
Proven Testnet Success
- Over 500 lending desks created.
- More than 500 loans issued.
- Nearly 5,000 unique users engaged.
Strategic Partnerships and an Ambitious Roadmap
Magnify Cash collaborates with top-tier industry associates like LydianLabs , FjordFoundry , Jiraiya , Tailored , Blaize, 4am, and H3AT Studios , enhancing the platform’s functionality and reach. Essential security audits conducted by Guardian Protocol and Gaslite further solidify Magnify Cash’s dedication to operating a secure and trustworthy platform.
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- Base Mainnet: Launching Soon (Featuring RWAs)
- Ethereum Mainnet: Launching Soon (Featuring RWAs)
- Possible Layer 2 Developments: Abstract Chain, Blast Chain, and additional platforms.
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The distribution of the $MAG token will be conducted via Fjord Foundry’s liquidity bootstrapping methodology, guaranteeing a fair and transparent allocation. The token sale is scheduled from July 23rd, 8:00 PM EST to July 27th, 8:00 AM EST , with over 70% of tokens designated for public access. This equitable strategy is designed to promote widespread participation and cultivate a robust, engaged community. Participants actively engaging as lenders, liquidity providers, and borrowers will earn $MAG tokens.
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Secure Your $MAG Tokens: The sale for the MAG token kicks off on July 23rd at 8:00 PM EST (July 24th, 8:00 AM Singapore Time) . All are welcomed to participate in the Fair Launch at Fjord Foundry. Search .
Explore Our Ecosystem: Magnify Cash invites enthusiasts to delve into its rich ecosystem by visiting the Search . Here, you can access the Pitch Deck, captivating Intro Video, comprehensive Whitepaper, and technical Documentation.
Connect with Our Community: Magnify Cash invites you to become part of its vibrant community to stay updated and receive support. Follow us on Hack Seasons Airdrops Calendar Hot Projects Metaverse Post News .
Sponsored
Metaverse Post is an innovative, permissionless decentralized credit marketplace that empowers users to lend ERC-20 tokens while borrowing against non-fungible tokens (NFTs) and Real-World Assets (RWAs) with unparalleled flexibility and transparency. Committed to genuine decentralization, Magnify Cash offers universal support for ERC-20 tokens as lending currencies and ERC-1155/ERC-721 assets as collateral. The unique approach of this protocol to on-chain credit markets offers a fresh perspective in the rapidly evolving landscape of decentralized finance.
For more details, users can visit https://Magnify.Cash New Report Sponsored .
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Chainwire Published: July 23, 2024 at 6:05 pm Updated: July 23, 2024 at 6:05 pm , it’s important to remember that the information on this page is neither legal nor financial advice, nor should it be viewed as such. It’s crucial to invest only what you can afford to lose and seek independent advice if you're uncertain. For additional guidance, please refer to the terms and conditions as well as the help and support sections provided by the issuer or advertiser. MetaversePost strives for accurate and impartial reporting, but market dynamics can shift quickly and without notice.