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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    CompoSecure Earns Sustainability Silver Medal from EcoVadis for Second Consecutive Year, Placing in the Top 15% of Companies Globally

    2024-10-03T12:00:00Z

    Strengthened commitment to sustainability practices results in a 7-point improvement Year-over-Year

    SOMERSET, N.J., Oct. 03, 2024 (GLOBE NEWSWIRE) -- CompoSecure, Inc. (Nasdaq: CMPO), a leader in metal payment cards, security, and authentication solutions, was awarded a Silver Medal by EcoVadis, a globally recognized leader in business sustainability ratings, for the second consecutive year. This accolade places CompoSecure in the top 15% of companies globally and highlights its commitment to sustainability through its environmental, social, and governance (ESG) practices.

    CompoSecure is honored to have earned a second EcoVadis Silver Medal, a testament to our relentless drive for environmental progress,” said Greg Maes, COO of CompoSecure. “This achievement reflects the dedication of our employees, whose efforts each day propel us forward in our mission to enhance our ESG practices. We are grateful for their commitment and excited to continue making a positive impact.”

    CompoSecure’s received a 67 in 2024 versus 60 in 2023, demonstrating significant progress in integrating ESG principles into its operations. The company's performance was assessed by EcoVadis across four critical categories, including environment, labor & human rights, ethics, and sustainable procurement. This year, EcoVadis updated its benchmarking methodology, which the Company believes makes the score improvement even more impressive.

    Key ESG Highlights Contributing to the Silver Medal:

    • Environment: CompoSecure has expanded its use of recycled materials in its metal payment cards, which are made from 65% post-consumer recycled stainless steel, reducing environmental impact.
    • Labor & Human Rights: CompoSecure maintains fair labor practices and safe, inclusive working conditions across its operations, prioritizing the well-being of its workforce.
    • Ethics: The company aligns its ethical practices with global corporate responsibility and transparency standards.
    • Sustainable Procurement: CompoSecure upholds high standards for sourcing and procurement.

    EcoVadis is a purpose-driven company dedicated to embedding sustainability intelligence into every business decision worldwide. With global, trusted and actionable ratings, businesses of all sizes rely on EcoVadis’ detailed insights to comply with ESG regulations, reduce GHG emissions, and improve the sustainability performance of their business and value chain across 220 industries in 180 countries. More than 130,000 companies globally have been rated by EcoVadis. EcoVadis’ business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Compact, the International Labour Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard. The ratings provide an evidenced-based analysis on performance and an actionable roadmap for continuous improvement.

    About CompoSecure

    Founded in 2000, CompoSecure (Nasdaq: CMPO) is a technology partner to market leaders, fintechs and consumers enabling trust for millions of people around the globe. The company combines elegance, simplicity and security to deliver exceptional experiences and peace of mind in the physical and digital world. CompoSecure’s innovative payment card technology and metal cards with Arculus security and authentication capabilities deliver unique, premium branded experiences, enable people to access and use their financial and digital assets and ensure trust at the point of a transaction. For more information, please visit www.CompoSecure.com and www.GetArculus.com.

    For CompoSecure

    Anthony Piniella
    Head of Communications 
    (917) 208-7724
    [email protected]

    Sean Mansouri, CFA
    Elevate IR
    (720) 330-2829
    [email protected]


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