Singapore, Singapore, July 23, 2024, Chainwire
It’s a groundbreaking moment for decentralized finance (DeFi), as Magnify Cash unveils its cutting-edge DeFi protocol and announces the upcoming fair launch of its native token, $MAG. A pioneer in financial technology, Magnify Cash is ready to reshape the financial services landscape for individuals and businesses alike.
The Future of Decentralized Credit Markets
Magnify Cash is leading the next evolution of decentralized credit markets by providing liquidity for real-world assets (RWAs), future yield tokens (FYTs), and a host of digital assets through an innovative, permissionless lending desk.
Addressing Key Financial Challenges
- Limited liquidity: Bridging the gap between various digital assets.
- Dispersion: Eliminate centralized and custodial lending restrictions.
Innovative products and solutions
- Unauthorized lending desk: Facilitates lending and borrowing for RWA, FYT and other digital assets for any ERC-20 token.
- Decentralized borrowing options: We provide lending solutions without intermediaries, ensuring maximum security and transparency.
Universal Collateral and Currency Support
Magnify Cash’s Universal Collateral Acceptance feature supports a wide range of tokenized assets, including ERC-1155 and ERC-721 tokens. Users can now leverage NFTs and tokenized real-world assets such as art, real estate, bonds, and luxury goods as collateral to secure liquidity without having to cash out these valuable assets.
Key Features
- Comprehensive support: Universal support for loan currencies and loan collateral (ERC-20, ERC-1155, ERC-721).
- Smooth operation: Asset-backed lending and borrowing with the ability to create and manage a lending desk without a license.
- Improved liquidity: We offer a wide range of liquidity options for all digital assets, including stablecoins, ETH, liquid staking tokens (LST), meme tokens, blue chip NFTs, and government bonds.
- Advanced Risk Management: Eliminate the need for oracles with a dynamic interest rate model that leverages linear interpolation and scaling factors.
Strong security and compliance
Verified Testnet Success
- More than 500 lending desks have been created.
- More than 500 loans were issued.
- Nearly 5,000 unique users participated.
Strategic Partnerships and Future Roadmap
Magnify Cash works with leading industry partners such as LydianLabs, FjordFoundry, Jiraiya, Tailored, Blaize, 4am, and H3AT Studios to expand the capabilities and scope of the platform. Major security audits by Guardian Protocol and Gaslite reinforce Magnify Cash’s commitment to providing a secure and reliable platform.
Currently live
Exciting upcoming releases
- Basic Mainnet: Coming soon (including RWA)
- Ethereum Mainnet: Coming soon (including RWA)
- Potential Layer 2 releases: Abstract chains, explosive chains, etc.
Fair launch of $MAG tokens
$MAG tokens will be launched via Fjord Foundry’s liquidity bootstrapping protocol, ensuring fair and transparent distribution. The token sale will July 23rd 8pm EST – July 27th 8am ESTMore than 70% of tokens will be allocated to the public. This equitable approach encourages widespread participation and fosters a strong and engaged community. Active participants, including lenders, liquidity providers, and borrowers, are rewarded with $MAG tokens.
Opportunity to participate
Acquire $MAG Tokens: MAG token sale begins. July 23rd at 8pm EST (July 24th at 8am Singapore time)Participants are invited to join the launch of the fair at Fjord Foundry here.
Explore the ecosystem: Magnify Cash invites interested parties to visit the website and learn about its comprehensive ecosystem. Access the pitch deck, engaging intro video, detailed whitepaper, and technical documentation.
Join our community: Magnify Cash encourages you to join our vibrant community for real-time updates and support. Follow us TwitterJoin our Telegram group and join the discussion on Discord.
About Magnify Cash
Magnify Cash is a non-custodial and permissionless decentralized credit marketplace that lends users ERC-20 tokens and provides unparalleled flexibility and transparency for non-fungible tokens (NFTs) and real-world assets (RWAs). Striving for true decentralization, Magnify Cash universally supports ERC-20 tokens as the lending currency and ERC-1155/ERC-721 assets as collateral. The protocol’s innovative approach to on-chain credit markets offers a fresh perspective in the evolving world of decentralized finance.
For more information, users can visit https://Magnify.Cash or follow X.com/MagnifyCash on Twitter.
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contact
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Magnify.Cash
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