Singapore, Singapore, July 23rd, 2024,
Chainwire
A groundbreaking moment in decentralized finance (DeFi) is here
as Magnify Cash unveils its state-of-the-art DeFi
protocol and announces the upcoming Fair Launch of its native
token, $MAG. As a pioneer in financial technology, Magnify Cash is
set to reshape the financial services landscape for individuals and
enterprises alike.
The Future of Decentralized Credit Markets
Magnify Cash is spearheading the next evolution in decentralized
credit markets, unlocking liquidity for Real-World Assets (RWAs),
Future Yield Tokens (FYTs), and a myriad of digital assets through
its innovative, permissionless lending desks.
Solving Key Financial Challenges
- Limited Liquidity: Bridging the gap for
diverse digital assets.
- Decentralization: Eliminating centralized and
custodial lending limitations.
Innovative Products and Solutions
- Permissionless Lending Desks: Facilitate
borrowing and lending for any ERC-20 token against RWAs, FYTs, and
other digital assets.
- Decentralized Borrowing Options: Provide
lending solutions without intermediaries, ensuring maximum security
and transparency.
Universal Collateral and Currency Support
Magnify Cash’s Universal Collateral Acceptance feature supports
an extensive array 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, unlocking liquidity without the need to liquidate
these valuable assets.
Key Features
- Comprehensive Support: Universal support for
lending currencies and loan collateral (ERC-20, ERC-1155,
ERC-721).
- Seamless Operations: Asset-backed borrowing
and lending with permissionless creation and management of lending
desks.
- Enhanced Liquidity: Extensive liquidity
options for all digital assets, including stablecoins, ETH, liquid
staking tokens (LSTs), meme tokens, blue chip NFTs, and
treasuries.
- Advanced Risk Management: A dynamic interest
rate model utilizing linear interpolation and scaling factors,
eliminating the need for oracles.
Robust Security and Compliance
Proven Testnet Success
- Over 500 lending desks created.
- More than 500 loans issued.
- Nearly 5,000 unique users engaged.
Strategic Alliances and Future Roadmap
Magnify Cash collaborates with leading industry partners like
LydianLabs, FjordFoundry, Jiraiya, Tailored, Blaize, 4am, and H3AT Studios, amplifying the platform's capabilities
and outreach. Key security audits by Guardian Protocol and Gaslite
reinforce Magnify Cash’s commitment to providing a secure and
reliable platform.
Currently Live on
Exciting Upcoming Launches
- Base Mainnet: Coming Soon (Including
RWAs)
- Ethereum Mainnet: Coming Soon (Including
RWAs)
- Potential Layer 2 launches: Abstract Chain,
Blast Chain, and more.
Fair Launch of $MAG Token
The $MAG token will be launched through Fjord Foundry’s
liquidity bootstrapping protocol, ensuring a fair and transparent
distribution. The token sale runs from July 23rd, 8:00 PM
EST to July 27th, 8:00 AM EST, with over 70% of tokens
allocated to the public. This equitable approach encourages broad
participation and fosters a strong, engaged community. Active
participants, including lenders, liquidity providers, and
borrowers, are rewarded with $MAG tokens.
Participation Opportunities
Secure $MAG Tokens: The MAG token sale begins
on July 23rd at 8:00 PM EST (July 24th, 8:00 AM Singapore
Time). Participants are invited to join the Fair Launch at
Fjord Foundry here.
Explore the Ecosystem: Magnify Cash invites
interested parties to discover its comprehensive ecosystem by
visiting the Website. Access the Pitch
Deck, engaging Intro Video, detailed Whitepaper, and technical
Documentation.
Engage with Our Community: Magnify Cash
encourages joining its vibrant community for real-time updates and
support. Follow us on Twitter, join the
Telegram group, and participate in discussions on
Discord.
About Magnify Cash
Magnify Cash is a non-custodial and permissionless
decentralized credit market that empowers users to lend ERC-20
tokens and borrow against non-fungible tokens (NFTs) and Real-World
Assets (RWAs) with unmatched flexibility and transparency.
Committed to true decentralization, Magnify Cash ensures universal
support for ERC-20 tokens as lending currencies 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 Magnify Cash on Twitter
at X.com/MagnifyCash.
Magnify Media Kit: Link.
Contact
Press
Manager
Magnify.Cash
socials@magnify.cash