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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    Brazil Ecommerce Market Databook 2024: An $87.6 Billion Industry by 2028 - 100+ KPIs on Verticals, Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics

    2024-09-30T13:09:45Z

    Dublin, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The "Brazil Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.

    The E-commerce market in Brazil is expected to grow by 10.10% on annual basis to reach US$62.6 billion in 2024. Medium to long term growth story of E-commerce industry in Brazil promises to be attractive. The E-commerce is expected to grow steadily over the forecast period, recording a CAGR of 8.75% during 2024-2028. The E-commerce Gross Merchandise Value in the country will increase from US$56.9 billion in 2023 to reach US$87.6 billion by 2028.

    This report provides a detailed data centric analysis of E-commerce market dynamics, covering over 100 KPIs in Brazil. It details market opportunity across key B2C verticals - Retail Shopping, Travel & Hospitality, Online Food Service, Media and Entertainment, Healthcare and Wellness, and Technology Products and Services. It provides market share by key players across key verticals along with sales channels (Platform to Consumer, Direct to Consumer, Consumer to Consumer). In addition, it provides spending pattern by payment instruments along with a snapshot of consumer behaviour in Brazil.

    The growing competitive landscape is also driving the trend of mergers and acquisitions in the sector, as firms seek to improve their product while strengthening their position in the market. Furthermore, e-commerce firms are also raising capital rounds to expand in the Brazilian market. Overall, the publisher maintains a positive growth outlook for the B2C e-commerce industry in Brazil over the next three to four years.

    Firms are entering into acquisition deals to grow their presence in the Brazilian e-commerce market

    The e-commerce industry is poised for strong growth over the next three to four years in Brazil. Consequently, firms are entering into acquisition deals to grow their presence in the market.

    • Nuvemshop, in December 2023, acquired Perfit to enhance its sales and efficiency in marketing campaigns. Perfit is a standout choice for those seeking marketing automation solutions. Their tools make it easy to efficiently manage, segment, and send personalized communications to contact lists or email databases. Furthermore, Perfit also makes use of artificial intelligence to optimize marketing campaigns. The addition of Perfit is, therefore, expected to help Nuvemshop further strengthen its position in the Brazilian market over the next three to four years.
    • Shopee, the e-commerce arm operated by Singapore-based firm Sea, also entered into an acquisition deal with Brazilian fintech firm Blu in December 2023. The deal is part of the firm's strategy to accelerate growth in Brazil. The acquisition will enable Shopee to end its partnership with a local firm through which it currently offers credit to consumers. In Brazil, Shopee has more than 3 million merchants and the firm also gained approval from the central bank to operate as a payment institution in 2022. With a low-cost marketplace strategy, Shopee has been gaining strong popularity among online shoppers in Brazil.

    These collaborations are expected to further strengthen the position of Nuvemshop and Shopee in the Brazilian market over the medium term. As the competitive landscape continues to grow, the publisher expects more such acquisition deals to take place in the Brazilian e-commerce industry.

    Chinese e-commerce giants are eyeing global expansion, including key Latin American markets

    Brazil, alongside other Latin American markets, is offering strong growth opportunities in the e-commerce sector. To tap into the regional market, Chinese firms have announced significant investments in the region, including in Brazil.

    • Shein, for instance, has announced plans to make Brazil its export hub for the rest of the region. The firm revealed that it will invest US$150 million in developing a manufacturing network in Brazil. Shein is also planning to expand its network of 336 suppliers to 2,000 manufacturing partners in Latin America over the next three years.
    • Shein's expansion in Latin America comes amid criticism of the Chinese brand for avoiding import taxes, a tactic it has also used in the United States. In Brazil, import taxes are applicable to items valued up to US$50, but with Shein's local manufacturing capabilities, the brand can keep offering affordable domestic shipping.

    From the short to medium-term perspective, the publisher expects more global firms, including Chinese giants like Temu and TikTok to increase their investment in the Brazilian e-commerce market. This will drive the competitive landscape, while also supporting the sector growth over the medium term.

    E-commerce startups are raising capital to finance regional expansion, including in Brazil, in 2024

    To drive market penetration and tap into the growing market size, e-commerce startups are seeking venture capital and private equity funding. This trend is projected to gain further momentum in 2024.

    • Zubale, the e-commerce startup, announced that the firm had raised US$25 million in November 2023. The firm is planning to deploy the fresh capital towards its expansion plan in Brazil and Mexico. The firm initially began by connecting gig workers with stores or warehouses to help with tasks like packaging and deliveries. Now, it has expanded its services to provide logistics support and customer-facing software for businesses.
    • The firm is now looking to expand its reach beyond grocery stores and pharmacies. It is seeking to tap into clothing stores, pet chains, and electronics chains. In Brazil, the firm has a presence in 40 cities already. The fresh capital will enable Zubale to further speed up its penetration in the fast-growing Brazilian e-commerce market, driving revenue growth for the firm over the medium term.

    Key Attributes:

    Report AttributeDetails
    No. of Pages110
    Forecast Period2024 - 2028
    Estimated Market Value (USD) in 2024$62.62 Billion
    Forecasted Market Value (USD) by 2028$87.6 Billion
    Compound Annual Growth Rate8.7%
    Regions CoveredBrazil


    Scope

    Brazil Ecommerce Market Size and Future Growth Dynamics

    • Gross Merchandise Value Trend Analysis
    • Average Value Per Transaction Trend Analysis
    • Gross Merchandise Volume Trend Analysis

    Brazil User Statistics and Ratios of Key Performance Indicators

    • User Statistics
    • Card Abandonment Rate and Product Return Rate
    • Ecommerce Per Capita and GDP Per Capita
    • GDP Per Capita Trend Analysis

    Brazil Ecommerce Market Share by Key Players

    • Brazil Retail Shopping Ecommerce Market Share by Key Players
    • Brazil Travel Ecommerce Market Share by Key Players
    • Brazil Food Service Ecommerce Market Share by Key Players
    • Amazon Brazil
    • Americanas
    • Casas Bahia
    • Magazine Luiza
    • Mercado Livre
    • 99Food
    • iFood
    • James Delivery
    • Rappi
    • Uber Eats
    • AJ Mobilidade
    • CVC Brasil
    • Decolar Brasil
    • Flytour

    Brazil Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis

    • Retail Shopping (breakdown by clothing, footwear & accessories, health, beauty and personal care, food & beverage, appliances and electronics, home improvement, books, music & video, toys & hobby, auto)
    • Travel and Hospitality (breakdown by air travel, train & bus, taxi service, hotels & resorts)
    • Online Food Service (breakdown by aggregators, direct to consumer)
    • Media and Entertainment (breakdown by streaming services, movies & events, theme parks & gaming)
    • Healthcare and Wellness
    • Technology Products and Services
    • Other segments

    Brazil Ecommerce Market Size and Forecast by Retail Shopping Sales Channel

    • Platform to Consumer
    • Direct to Consumer
    • Consumer to Consumer

    Brazil Ecommerce Market Share by Travel and Hospitality Sales Channel

    • Market Share by Travel and Hospitality Sales Channel
    • Aggregator App - Gross Merchandise Value Trend Analysis
    • Direct to Consumer - Gross Merchandise Value Trend Analysis

    Brazil Ecommerce Market Size and Forecast by Online Food Service Sales Channel

    • Aggregator App
    • Direct to Consumer

    Brazil Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2019-2028)

    • Website Based
    • Live Streaming

    Brazil Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis

    • Cross Border
    • Domestic

    Brazil Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis

    • Mobile
    • Desktop

    Brazil Ecommerce Market Size and Forecast by Operating System

    • iOS/macOS
    • Android
    • Other Operating Systems

    Brazil Ecommerce Market Size and Forecast by City

    • Tier 1
    • Tier 2
    • Tier 3

    Brazil Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2019-2028)

    • Credit Card
    • Debit Card
    • Bank Transfer
    • Prepaid Card
    • Digital & Mobile Wallet
    • Cash
    • Other Digital Payment

    Brazil Ecommerce Consumer Demographics

    • Market Share by Age Group
    • Market Share by Income Level
    • Market Share by Gender

    For more information about this report visit https://www.researchandmarkets.com/r/ysaobj

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