Blockchain

Magnify Cash Launches DeFi Protocol and Announces $MAG Token Fair Launch

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    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

    • Base Testnet

    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
    [email protected]

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    Balancing AI Hype and Hope: Industry Leaders Unveil Growth Playbook at AI Apex Asia Capital Connect Forum

    2024-09-27T15:37:40Z

    Singapore, Sept. 27, 2024 (GLOBE NEWSWIRE) -- The AI Apex Asia Capital Connect Forum recently concluded, offering critical insights into navigating the fine line between AI hype and genuine opportunities. With global AI investments projected to reach $200 billion by 2025, industry leaders convened to discuss strategies for sustainable growth and realistic expectations in this rapidly evolving sector.

    The forum featured two pivotal panel discussions: "Accelerating AI Growth: Founders and Investors Reveal Their Playbook" and "Decoding AI: From Hype to Hope," bringing together a diverse group of experts to share their perspectives on balancing optimism with pragmatism in AI development and investment.

    Separating Hype from Hope: The Rise of Agentic AI

    Alex Ren, Founding Partner of Fellows Fund, highlighted a paradigm shift that moves beyond the hype of generative AI: "We're witnessing a transition from generative AI to what we call 'Agentic AI.' This technology enables autonomous decision-making and task execution, opening up incredible opportunities for startups to create transformative enterprise solutions."

    Alex further elaborated on the concept of 'vertical AGI' as a more realistic and immediately impactful approach: "We're pursuing companies achieving AGI-like capabilities in specific domains such as customer support, search, marketing, or accounting. That's where we see the next wave of innovation, rather than chasing the hype of universal AGI."

    Grounding AI in Practical Implementation

    Jianfeng Lu, Founder & Chairman of Wiz.AI, emphasized the importance of focusing on real-world applications over grandiose claims: "The first priority should be the user scenario and customer use case. What kind of data can we accumulate to build effective AI models?"

    This sentiment was echoed by Shou Dong, CEO of ADVANCE.AI, who stated, "As an AI-powered fintech, we view large language models as tools to enhance efficiency and reduce costs. We're exploring applications in customer service, collections, and even telemarketing, always with a focus on measurable improvements in performance and efficiency."

    Realistic Investment Strategies in an Evolving Landscape

    Matthew Ma, Managing Director of Gaorong Capital, addressed the changing requirements for AI startup founders in light of more tempered market expectations: "Today's founders need to be well-rounded - they must understand technology deeply, have strong business acumen, and possess excellent fundraising capabilities. The days of securing funding based on hype alone are behind us."

    Matthew also noted a shift towards more grounded valuation metrics: "For deep tech companies, valuations are now driven by the rarity of talent and technology rather than hype. Investors are looking for clear paths to commercialization and sustainable business models."


    Balancing Innovation with Regulation

    Helena Ma, Advisor at Milken Institute & AI Apex Foundation, highlighted the importance of regulatory frameworks in creating a sustainable AI ecosystem: "Stringent regulatory frameworks can foster a more mature and secure AI ecosystem." This perspective underscores the need for responsible AI development that can withstand scrutiny and deliver long-term value.

    Identifying Real Opportunities in Emerging Markets

    Shou Dong pointed out untapped potential that goes beyond the hype in Southeast Asia: "There's still enormous opportunity in sectors like SME financing. With over 60 million small businesses across Indonesia and the Philippines alone, there's a massive market for AI-driven financial services tailored to this underserved segment."

    A Roadmap for AI's Future

    Weiru Chen, Professor of Strategy at CEIBS, outlined three key milestones for AI's future that balance ambition with achievability:

    1. Enhancing human productivity

    2. Catalyzing new, high-growth business lines

    3. Generating unprecedented value through disruptive innovations

    Leo Jiang, Founder of AI Business Asia, emphasized the importance of grounding AI development in tangible outcomes: "The key takeaway for founders is to address clear market needs with demonstrable potential for unicorn-level growth, regardless of whether you're leveraging AI, blockchain, or any other technology. It's about solving real problems, not chasing buzzwords."

    As the AI landscape continues to evolve, the AI Apex Asia Capital Connect Forum serves as a crucial platform for innovators, investors, and industry leaders to exchange ideas and shape a future where AI lives up to its promise without falling victim to unrealistic hype. By focusing on practical applications, long-term value creation, and ethical considerations, stakeholders can better position themselves to capitalize on the AI revolution while navigating its complex challenges and opportunities.

    About AI Apex Asia

    AI Apex Asia is a leading artificial intelligence community dedicated to advancing AI technologies and applications across Asian markets. With a focus on innovation, regional expertise, and responsible AI development, AI Apex Asia is committed to driving the adoption of AI solutions that address unique challenges and opportunities in diverse Asian industries.


    CONTACT: Joy Li, Partnership Manager, AI Apex Foundation Ltd 
[email protected]

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