The post Magnify Cash Launches DeFi Protocol and Announces $MAG Token Fair Launch appeared on BitcoinEthereumNews.com.

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…

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Filed under: News - @ July 23, 2024 10:26 pm