Magnify Cash Launches DeFi Protocol, Announces Fair Launch of $MAG Token

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Singapore, Singapore, July 23, 2024, Chainwire

A revolutionary moment in decentralized finance (DeFi) has arrived Enlarge money Magnify Cash unveils its cutting-edge DeFi protocol and announces the upcoming launch of its native token, $MAG. As a pioneer in financial technology, Magnify Cash is poised to reshape the financial services landscape for individuals and businesses.

The Future of Decentralized Credit Markets

Magnify Cash is spearheading the next evolution of decentralized credit markets, unlocking liquidity for Real World Assets (RWA), Future Yield Tokens (FYT), and a myriad of digital assets through its innovative, permissionless lending desks.

Solving major financial challenges

• Limited liquidity: Bridging the gap for diversified digital assets.
• Decentralization: Removal of limitations on centralized and custodial loans.

Innovative products and solutions

• Unauthorized loan offices: Facilitate borrowing and lending of any ERC-20 token against RWA, FYT, and other digital assets.
• Decentralized borrowing options: Providing lending solutions without intermediaries, guaranteeing maximum security and transparency.

Universal guarantees 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 use NFTs and tokenized real-world assets such as art, real estate, bonds, and luxury goods as collateral, unlocking liquidity without having to liquidate these valuable assets.

Main characteristics

• Full support: Universal support for currency loans and loan guarantees (ERC-20, ERC-1155, ERC-721).
• Transparent operations: Asset-backed loans and borrowings with the creation and management of loan offices without authorization.
• Improved liquidity: Extensive liquidity options for all digital assets including stablecoins, ETH, Liquid Staking Tokens (LST), meme tokens, blue chip NFTs, and Treasuries.
• Advanced risk management: A dynamic interest rate model using linear interpolation and scaling factors, eliminating the need for oracles.

Robust security and compliance

Proven success of the test network

• More than 500 loan offices created.
• More than 500 loans issued.
• Nearly 5,000 unique engaged users.

Strategic alliances and roadmap for the future

Magnify Cash collaborates with industry leading partners such as Lydian Laboratories, Fjord Foundry, Jiraiya, AdaptedBlaize, 4 a.m., and H3AT Studiosamplifying the platform’s capabilities and reach. Leading security audits by Guardian Protocol and Gaslite reinforce Magnify Cash’s commitment to providing a secure and reliable platform.

Currently live on

Exciting launches coming soon

• Basic Main Network: Coming soon (including RWAs)
• Ethereum Mainnet: Coming soon (including RWAs)
• Potential Layer 2 Launches: Abstract chain, explosive chain and more.

Fair Launch of the $MAG Token

The $MAG token will be launched via Fjord Foundry’s liquidity bootstrapping protocol, ensuring fair and transparent distribution. The token sale will run from From July 23 at 8:00 PM EST to July 27 at 8:00 AM ESTwith over 70% of tokens allocated to the public. This fair 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

Secured $MAG Tokens: MAG Token Sale Begins on July 23 at 8:00 PM EST (July 24, 8:00 AM Singapore time)Participants are invited to join the launch of the fair at the Fjord Foundry here.

Explore the ecosystem: Magnify Cash invites interested parties to discover its complete ecosystem by visiting the WebsiteAccess the Pitch Deck, engaging intro video, detailed white paper and technical documentation.

Get involved with our community: Magnify Cash encourages you to join its vibrant community for real-time updates and support. Follow us on Twitterjoin Telegram Groupand participate in discussions on Discord.

About Magnify Cash

Enlarge money is a non-custodial, permissionless decentralized credit marketplace that allows users to lend ERC-20 tokens and borrow against non-fungible tokens (NFTs) and real-world assets (RWAs) with unparalleled flexibility and transparency. Committed to true decentralization, Magnify Cash provides 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 new 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.

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Contact

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Enlarge.Cash
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