Blockchain

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

on

    More in Blockchain:

    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]

    PostAd_coinrule_banner728x90

    Leave a Comment

    Your email address will not be published. Required fields are marked *

    *

    Joint Stock Company Kaspi.kz Announcement: If You Have Suffered Losses in Joint Stock Company Kaspi.kz (NASDAQ: KSPI), You Are Encouraged to Contact The Rosen Law Firm About Your Rights

    2024-10-04T00:22:00Z

    NEW YORK, Oct. 03, 2024 (GLOBE NEWSWIRE) --

    Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Joint Stock Company Kaspi.kz (NASDAQ: KSPI) resulting from allegations that Kaspi.kz may have issued materially misleading business information to the investing public.

    So What: If you purchased Kaspi.kz securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

    What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=29172 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

    What is this about: On September 19, 2024, Culper Research issued a report entitled “Kaspi.kz (KSPI): The NASDAQ-Listed Fintech Moving Money for Criminals and Kleptocrats.” In this report, Culper announced it was “short Kaspi, the operator of the largest payment network and second largest bank in Kazakhstan. We believe Kaspi has systematically misled U.S. investors and regulators in its repeated claims – especially ahead of the Company’s January 2024 [NASDAQ] listing – that the Company has zero exposure to Russia.” Further, Culper announced its “research exposes this grave deception: we believe that not only do Kaspi’s relationships with Russian partners permeate every segment of its business, but that in the wake of Russia’s February 2022 invasion of Ukraine and into 2024, Russia has contributed materially to Kaspi’s reported growth. Our research further unmasks Kaspi’s history of shadowy dealmaking, which raises not only related party and self-dealing concerns, but also exposes the Company’s vast, longstanding ties to bad actors including sanctioned oligarchs and Russian mobsters. We believe that Kaspi’s premium valuation and US listing are at risk, and shares are headed lower.”

    On this news, Kaspi.kz American Depositary Shares’ (“ADS”) fell $19.82 per ADS, or 16.1%, to close at $99.81 per ADS on September 19, 2024, and a further $2.71 per ADS, or 2.7%, to close at $97.10 per ADS on September 20, 2024.

    Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

    Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

    Attorney Advertising. Prior results do not guarantee a similar outcome.

    Contact Information:

            Laurence Rosen, Esq.
            Phillip Kim, Esq.
            The Rosen Law Firm, P.A.
            275 Madison Avenue, 40th Floor
            New York, NY 10016
            Tel: (212) 686-1060
            Toll Free: (866) 767-3653
            Fax: (212) 202-3827
            [email protected]
            www.rosenlegal.com


    GlobeNewsWire News

    Recent Comments