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

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]