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 *

    *

    Global Peer to Peer (P2P) Lending Analysis Report 2024: Market to grow by 39% During 2023-2028, Driven by Increased Investments, Reduced Operational Costs, and Low P2P Low Interest Rates

    2024-10-04T08:59:41Z

    Dublin, Oct. 04, 2024 (GLOBE NEWSWIRE) -- The "Global Peer to Peer (P2P) Lending Market 2024-2028" report has been added to ResearchAndMarkets.com's offering.

    The peer to peer (P2P) lending market is forecasted to grow by USD 754 billion during 2023-2028, accelerating at a CAGR of 39%

    This study identifies the rise in adoption of digital loans as one of the prime reasons driving the peer to peer (P2P) lending market growth during the next few years. Also, growing popularity of P2P lending investments and low interest rates offered by P2P lenders will lead to sizable demand in the market.

    The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by reduced operational costs of P2P lending vendors, use of advanced technologies in lending process, and rising number of small and mid-sized enterprises.

    The report on the peer to peer (P2P) lending market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

    The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading peer to peer (P2P) lending market vendors. Also, the peer to peer (P2P) lending market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

    Key Vendors

    • AS Mintos Marketplace
    • Avant LLC
    • Bondora Capital OU
    • Bridge Fintech Solutions Pvt. Ltd.
    • Enova International Inc.
    • Fairassets Technologies India Pvt. Ltd.
    • Funding Circle Holdings plc
    • Innofin Solutions Pvt. Ltd.
    • Kiva Microfunds
    • Lendbox
    • LendingClub Corp.
    • Lendingkart Finance Ltd.
    • LendingTree LLC
    • Metro Bank Plc
    • Prosper Funding LLC
    • Zopa Bank Ltd.

    Key Topics Covered:

    1 Executive Summary
    1.1 Market overview

    2 Market Landscape
    2.1 Market ecosystem
    2.2 Market characteristics
    2.3 Value chain analysis

    3 Market Sizing
    3.1 Market definition
    3.2 Market segment analysis
    3.3 Market size 2023
    3.4 Market outlook: Forecast for 2023-2028

    4 Historic Market Size
    4.1 Global Peer To Peer (P2P) Lending Market 2018 - 2022
    4.2 Business segment analysis 2018 - 2022
    4.3 End-user segment analysis 2018 - 2022
    4.4 Geography segment analysis 2018 - 2022
    4.5 Country segment analysis 2018 - 2022

    5 Five Forces Analysis
    5.1 Five forces summary
    5.2 Bargaining power of buyers
    5.3 Bargaining power of suppliers
    5.4 Threat of new entrants
    5.5 Threat of substitutes
    5.6 Threat of rivalry
    5.7 Market condition

    6 Market Segmentation by Business Segment
    6.1 Market segments
    6.2 Comparison by Market Segmentation by Business Segment
    6.3 Traditional lending - Market size and forecast 2023-2028
    6.4 Marketplace lending - Market size and forecast 2023-2028
    6.5 Market opportunity by Market Segmentation by Business Segment

    7 Market Segmentation by End-user
    7.1 Market segments
    7.2 Comparison by End-user
    7.3 Individual consumer - Market size and forecast 2023-2028
    7.4 Small businesses - Market size and forecast 2023-2028
    7.5 Large businesses - Market size and forecast 2023-2028
    7.6 Real estate - Market size and forecast 2023-2028
    7.7 Market opportunity by End-user

    8 Customer Landscape
    8.1 Customer landscape overview

    9 Geographic Landscape
    9.1 Geographic segmentation
    9.2 Geographic comparison

    10 Drivers, Challenges, and Opportunity/Restraints
    10.1 Market drivers
    10.2 Market challenges
    10.3 Impact of drivers and challenges
    10.4 Market opportunities/restraints

    11 Competitive Landscape
    11.1 Overview
    11.2 Competitive Landscape
    11.3 Landscape disruption
    11.4 Industry risks

    12 Competitive Analysis
    12.1 Companies profiled
    12.2 Market positioning of companies

    For more information about this report visit https://www.researchandmarkets.com/r/y2v67k

    About ResearchAndMarkets.com
    ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

    CONTACT: ResearchAndMarkets.com 
         Laura Wood,Senior Press Manager 
         [email protected]
         For E.S.T Office Hours Call 1-917-300-0470 
         For U.S./ CAN Toll Free Call 1-800-526-8630 
         For GMT Office Hours Call +353-1-416-8900

    GlobeNewsWire News

    Recent Comments