KingSwap and Technicorum Holdings announce launch of decentralized digital asset protocol Gennix

KingSwap, an innovative DeFi and NFT project incubator, and Technicorum, an IT group specializing in digital assets, announced the August launch of their joint Gennix microlending platform today. Gennix is a frictionless, decentralized, digital asset lending and borrowing protocol that will be based on the Binance Smart Chain (BSC), leveraging Layer 2 scaling solutions. It targets entrepreneurs, investors, working professionals, and other groups. Gennix aims to create a fair system that yields revenue for all investors by using yield boosters and low collateral ratios. Its ultimate goal is to bridge the rich-poor gap.

Efficient, decentralized lending platform

The innovative, efficient borrowing and lending platform makes it possible for long-term investors to generate more interest on the assets they lend. Gennix also grants its users access to sophisticated financial tools through a binary options platform. Gennix project director Keefe Tan commented:

“Many of the incumbent DeFi/CeFI borrowing/lending platforms require excessive collateral for users to take loans. They also charge high platform fees and provide subpar returns. Gennix is turning the tide by providing investors with a seamless lending and borrowing tool with more equity and higher yields for investors new and old. The utility of DeFi and crypto will continue to increase, uniquely positioning Gennix in a prime spot to capture a large portion of market share.”

Benefits of Binance Smart Chain

BSC was developed to be EVM-compatible and is blockchain agnostic, interoperable, and highly scalable. Interoperability enables smooth data exchange between different blockchains. Gennix ecosystem is not limited to any one blockchain protocol. This makes it ready to handle any unexpected blockchain developments in the future.

Loans much cheaper than comparable ones from banks

Loans on the Gennix platform will cost significantly less in interest compared to those charged by traditional financial institutions like banks. This enables Gennix investors to use their capital for investments instead of it going toward fees and cuts out costly middlemen. By implementing binary options, users face less risk from crypto market volatility and generate more wealth. The new platform will be offering NFTs on various tiers, but they will offer high utility via $GNNX token airdrops, staking rewards, and trading fee bonuses unlike the majority of NFTs, which can only be used as collectibles.

The post KingSwap and Technicorum Holdings announce launch of decentralized digital asset protocol Gennix appeared first on Invezz.

Publication date: 
07/20/2021 - 15:25

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