The highly anticipated Gennix microlending platform which features innovative options, including where users need only stump up much lower collateral compared to other decentralised-lending platforms in the market, goes live on 27th October 2021.
Singapore, 9th Nov 2021, ZEXPRWIRE, Technicorum Holdings, an IT and service group specialising in digital assets and successful incubator of innovative DeFi and NFT project KingSwap, today announced that Gennix, a microlending protocol that seeks to reduce financial inequality on the blockchain has officially launched its microlending platform, making its services available to the public.
The Gennix decentralised, frictionless, digital-asset borrowing and lending platform facilitates loans for DeFi assets. The platform is now open to the public after months of hard work setting up and stress-testing it.
The Gennix microlending platform offers users an avenue for borrowing digital assets while providing lower collateral over time. This is made possible by the PoR-based (Proof of Reputation) evaluation tool TrustScore that achieves better network security through participants’ reputation. This helps enhance the reputation of borrowers who frequently repay the loans taken up at the platform. Borrowing in crypto allows arbitrage trading that allows users using the Gennix platform to leverage on to generate more capital.
Lenders are also incentivised to utilise our protocol due to the high-yield staking pools which generate returns on lender-provided assets. Users who hold Gennix tokens can deposit their $GNNX tokens into pools that in turn generate more Gennix tokens for the users. Relative to the modest 0.03-0.06% interest rate that retail banks offer to their depositors, Gennix offers users an up to 1,000% APY (annual percentage yield) during this promotional period, and will continue to incentivise both new and existing users to stay active on the platform after the promotional period.
Gennix offers NFTs (non fungible tokens), which can be used to generate enhanced returns on farming. These NFTs also offer $GNNX token airdrops and discounts on the platform. A token airdrop is where tokens get sent to users’ wallet addresses. The Gennix microlending platform offers a fair system that promotes profitable returns for everyone, thereby helping to reduce the wealth gap between the socio-economic classes. Gennix has undergone and passed its smart-contract audit with no major unwanted findings. This is an indicator of decreased risk involving malicious entities trying to exploit Gennix’s smart contracts and at the same time an indicator of enhanced investor security. This investor security is enhanced even further with Gennix’s blacklisting capabilities, which helps safeguard users’ interests.
Gennix enables participation for everyone; providing benefits for holders, stakers, lenders and borrowers alike, within the Gennix ecosystem. In the near future, Gennix will roll out an integrated, simple-to-use, fiat-crypto payment gateway that allows Gennix users to convert fiat currency directly into USDT. These USDT tokens can be used to purchase $GNNX tokens through its platform on the Binance Smart Chain (BSC). The on-ramp and off-ramp integration on the Gennix platform allows investors to purchase and withdraw amounts from as low as US$ 200 to as high as US$ 1,000,000 in fiat currency directly from their local bank accounts to the Gennix platform, and vice versa.
For more information on Gennix, visit https://www.gennix.io/
Gennix is listed on the DEX (decentralised exchange) PancakeSwap: https://pancakeswap.finance/swap?inputCurrency=BNB&outputCurrency=0x022b0f871eDc12B1549f894e3A2d721BBEf7519b
Gennix is a DeFi-built lending protocol that’s designed to maximise scalability, composability and growth. The project promotes the end-to-end lending and borrowing of digital assets and related financial products by operating on public networks. A game-changing feature that distinguishes Gennix from other DeFi projects is its foundation on the latest innovative BSC (Binance Smart Chain) network and the introduction of NFT yield-boosters. For more information, visit http://www.gennix.io/.
ABOUT TECHNICORUM HOLDINGS
Technicorum Holdings is a global investment and compliance company headquartered in Singapore. The Technicorum Group’s portfolio spans a broad spectrum of services in the digital asset space with full solution capabilities to launch and incubate projects. Technicorum Holding is a blockchain service provider within the fields of decentralised financial services, such as real estate, engineering, logistics, industrial, entertainment as well as life-sciences, and agricultural industries.
Technicorum Holdings owns and manages its assets based on ESG principles. As an engaged shareholder, Technicorum Holdings provides directives and sound corporate governance for its portfolio companies which include the procurement of high caliber, experienced management to manage its portfolio companies and investments.
Technicorum Holdings is responsible for the provision of regulatory compliance services, programmes, and communications for its portfolio companies and clients. Technicorum Holdings delivers action plans and support for businesses to meet the regulatory obligations and expectations of respective jurisdictions.
Technicorum Holdings comprises several subsidiaries, some of which are regulated, and specialises in various industries in the field of digital assets, DeFi, etc. and is mainly responsible for the KingSwap project. The group has numerous reference projects, including over 100 ICOs (initial coin offerings) completed over the last 4 years, through its subsidiaries.
For more information, please visit: https://www.technicorum.com/
KingSwap (https://www.kingswap.io/) is a DeFi project based out of Singapore with a **“regulated” token that introduces a liquidity-pool platform that makes fiat conversions possible. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles.
**” Regulated” – KingSwap commissioned Gravitas International Associates Pte Ltd, a Singapore Payment Services Act (PSA) exempt company, to issue the $KING tokens. A legal opinion regarding the token issuance has been submitted to the Monetary Authority of Singapore (MAS), the integrated regulator and supervisor of financial institutions in Singapore, in accordance with the PSA’s requirements. Gravitas has also submitted an application to the MAS for full licensing under the PSA, where the application is presently pending review. KingSwap itself has no license specific to DeFi projects, as there is no specific legislation anywhere in the world at this point in time pertaining to DeFi. KingSwap stays apprised of developments in the regulatory framework pertaining to the PSA in Singapore.
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