Singapore, Singapore, July 23, 2024, Chainwire
A groundbreaking moment has arrived in decentralized finance (DeFi) as Magnify Cash unveils its next-generation DeFi protocol and announces the upcoming trade show launch of its native token, $MAG. As a pioneer in fintech, Magnify Cash is poised to reshape the financial services landscape for both individuals and businesses.
The future of decentralized credit markets
Magnify Cash is spearheading the next evolution in decentralized lending markets, unlocking liquidity for real-world assets (RWA), future yield tokens (FYT), and a host of digital assets through its innovative permissionless lending desks.
Solving major financial challenges
- Limited liquidity: Bridging the gap for diverse digital assets.
- Decentralization: Remove limitations on centralized and custodial lending.
Innovative products and solutions
- Unlicensed Loan Counters: Facilitate lending and borrowing of any ERC-20 token against RWA, FYT, and other digital assets.
- Decentralized Lending Options: Offer loan solutions without intermediaries, guaranteeing maximum security and transparency.
Universal guarantee and monetary support
Magnify Cash’s universal collateral acceptance feature supports a wide range of tokenized assets, including ERC-1155 and ERC-721 tokens. Users can now leverage NFTs and real-world tokenized assets such as artwork, real estate, bonds, and luxury items as collateral, unlocking liquidity without the need to liquidate these valuable assets.
Main Features
- Comprehensive support: Universal support for loan currencies and loan collateral (ERC-20, ERC-1155, ERC-721).
- Seamless Operations: Asset-backed lending and borrowing with license-free lending desk creation and management.
- Improved liquidity: Extensive liquidity options for all digital assets including stablecoins, ETH, Liquid Staking Tokens (LST), meme tokens, blue-chip NFTs, and treasury bonds.
- Advanced Risk Management: A dynamic interest rate model that uses linear interpolation and scaling factors, eliminating the need for oracles.
Robust security and compliance
- Guardian Protocol Audit: We guarantee first-class security.
- Gaslite Gas Optimization Audit: Maximize operational efficiency.
Proven success of the test network
- More than 500 lending desks were created.
- More than 500 loans issued.
- Nearly 5,000 unique users interacted.
Strategic alliances and future roadmap
Magnify Cash collaborates with industry-leading partners such as LydianLabs, FjordFoundry, Jiraiya, Tailored, Blaize, 4am, and H3AT Studios, amplifying the platform’s capabilities and reach. Key security audits conducted by Guardian Protocol and Gaslite reinforce Magnify Cash’s commitment to providing a safe and trustworthy platform.
Currently live on
Upcoming exciting releases
- Main base network: Coming soon (including RWAs)
- Main network: Coming soon (including RWAs)
- Possible Layer 2 releases: Abstract chain, explosive chain and more.
$MAG Token Fair Launch
The $MAG token will be launched via Fjord Foundry's liquidity bootstrapping protocol, ensuring fair and transparent distribution. The token sale will take place from From July 23 at 8:00 pm US Eastern Time to July 27 at 8:00 am US Eastern Time.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, receive $MAG tokens as rewards.
Participation opportunities
Safe $MAG Tokens: MAG token sale starts on July 23 at 8:00 PM EST (July 24 at 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 presentation, engaging video presentation, detailed whitepaper and technical documentation.
Interact with our community: Magnify Cash encourages you to join 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, permissionless, decentralized lending marketplace that allows 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 lending marketplaces offers a fresh perspective on the evolving world of decentralized finance.
For more information, users can visit or follow Magnify Cash on Twitter at X.com/MagnifyCash.
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ContactPress ManagerExpand.Cashsocial [email protected]
This article was originally published on Chainwire
