Introducing Multiplier
Multiplier is a non-custodial lending protocol on Binance Smart Chain with flash loans.
How Multiplier Finance Works
Investors earn interest by committing their assets to lending pools, from which funds are made available to borrowers. The protocol is audited by CertiK and Kudelski Security (auditors of Solana), and crypto assets are partially covered by CertiKShield and Soteria Finance.
Since launch, Multiplier has accomplished their Q2 roadmap, which focused on synergic goals such as the onboarding of new collateral assets, integration of new wallets, and strategic collaborations with leading players including Alpaca Finance, ApeSwap, Wault Finance, and PancakeSwap.
Multiplier’s current TVL stands at over 20 million at time of writing.
Comparison Chart
Multiplier V2 Features
🔸Adjustment of Fees
🔸Deflationary Mechanisms
Fees generated from flash loans will now be burned. Additionally, revenue generated from the liquidation bot will be used to buy and burn bMXX. This is the first time bMXX will adopt deflationary burn mechanisms, ensuring a healthier ecosystem in the long-term.
🔸Collateral Swap Feature
Multiplier will be integrating with PancakeSwap to bring the swap feature to the platform. Users will have the ability to swap their deposited assets to other assets during a loan.
🔸Collateral Repayment Feature
Multiplier V2 will allow users to repay their debt/loans with their deposited collateral. This allows for greater flexibility especially when it comes to collateral liquidation risk.
🔸Batch Flash Loan Feature
Flash-borrowers could only borrow one currency at a time with V1. Batch Flash Loans will allow developers to execute a Flash Loan with multiple assets inside the same transaction.
🔸Debt Tokenization
In V2, borrowers will receive receipt tokens that represent their debt. Debt tokenization allows borrowers to manage their debt positions from their cold wallets.
🔸Stable & Variable Rate Borrowing
With V2, borrowers can have both a stable borrow position and a variable borrow position at the same time, with the same underlying asset, from the same wallet. This gives borrowers more options and flexibility for their loan position, and borrowers are still able to switch between the variable and stable rate at any time during a loan.
Incentives and Rewards
New Lender & Borrower Incentives
Multiplier V1, inspired by Aave, is a lending protocol originally conceptualized to forgo lending and borrowing rewards.
V2 will now include new lender and borrower incentives — lenders who deposit stablecoins, and borrowers who loan BTC, ETH and BNB will now receive additional rewards daily (on top of the APY!)
Additional Governance Incentives
Current governance incentives of 400 bMXX shared daily among stakers will be increased threefold to 1200 bMXX daily!
The increase in governance incentives is designed to encourage greater participation from existing holders, who can now stake their bMXX for higher rewards, proposal and voting rights.
bMXX holders will play a significant role in shaping the direction and success of Multiplier V2 on BSC.
bMXX goes through 4/7 Multi-Sig with reputable signatories from leading communities such as Autofarm, Beefy Finance, PancakeSwap, Bitcoin Addict and StableXSwap.
The new incentive models are not only expected to increase user participation, but also to attract various protocols such as yield optimizers to build strategies on top of the V2 pools.
Start staking now and have a say in Multiplier’s bright future!
*300,000~ bMXX staked in V1 governance at time of writing.
Team Multiplier
KIM HUI, CEO Founder of Belive SG. Former Creative Director in design space. Diverse background in multimedia and communication design. Bachelors in Communication Design at Glasgow School of Arts. Linkedin | Twitter | Telegram: @kimmultiplier
Yewnan, CTO Founder of PlayFury. Lead architect and solution designer for Defi, crypto exchanges, derivatives and solidity smart contracts. Full-stack programming expertise. Linkedin | Telegram: @yewnanmultiplier
Vinish, CIO Previously Managing Partner of xDelta Capital, a crypto market maker. Background in trading, trading technology and digital assets. MBA from University of Manchester. Linkedin | Telegram: @oldah
Jeff C.H. Ha, Compliance Officer Practicing lawyer. Experienced in regulatory advocacy. Led dozens of startups. Architect of legal framework for various corporate groups. Linkedin
D.R. Dudley, Marketing Director Experienced in overall corporate imaging. Former arbitrage trader. Established Bitcoin Singapore online community in 2013. Linkedin | Telegram: @multipliermarketing
Frank, Tech Lead Experience in development of cryptocurrency exchanges, wallets, solidity smart contracts, mobile and website applications. Full-stack programming expertise. Telegram: @frank_multiplier
Kuldeep K. Srivastava, Developer Experienced in dApp development and full stack app development. Certified Blockchain developer from Emurgo & Consensys academy. Linkedin
Long Nguyen, Developer 3 years experience in Front-end Development in BlockChain & Decentralized Financial products.
Binh Nguyen, Developer Front-end developer experienced in front-end development process, frameworks and techniques.
SA, Design Lead Experience in marketing, print and UI/UX design. Designer for Red Journey Campaign. Invitee to A’ Design Award Italy 2019.
Dung Nguyen, QA lead Over 11 years of experience working as QA Leader, Project Leader, Managerial roles within various domains including Blockchain.
Han, Researcher Documenting various blockchain-related activities including the strategic implications it has on communities, user adoption, and liquidity. Research, collect, analyze and report blockchain-related data.
Roadmap
Q4 2019 – Obtained Hong Kong SAR china NR. 1702/2019 Money Lenders License
Q1 2020 – Rolled out CEFI crypto Lending Platform
Q2 2020 – Obtained Switzerland Self-Regulatory Organisation (SRO) VQF License
– Rebranding and development of Multiplier Platform
Q3 2020 – Launched Multiplier CEFI platform
– Listed ‘MXX’ on Uniswap
– Launched Simplied Stable Bonds Protocol (SSB)
Q4 2020 – Launched TakoSwap (AMM DEX)
– Launched MXX Governance Module
– Implemented MXX Community Multi-Sig
Q1 2021 – – Private Beta TestNet Launch
– Public Beta TestNet Launch with Bug Bounties
– Primary Audit with Certik
– Exchange Listing and Liquidity Mining
– Secondary Audits
– MCL Converter Launch
– MCL Mainnet Launch
Q2 – Q3 2021-
Increased Adoption Increase the protocol adoption rate (TVL and Users) through strategic integrations, partnerships and incentives.
Developer Friendliness Establish developer friendly documentation and SDKs (Software development kits) and incentivise protocols and developers to build on top of Multi-Chain Lend.
Security Focus Establish the highest levels of code quality and robustness required to handle large sums of financial assets through continuous audits and bug bounties.
Conclusion
Mark the date! Join the launch of V2 on August 2nd 2021 to enjoy the highest rewards for lending and borrowing on the platform, and the great governance incentives!
V2 features are unparalleled among other lending protocols on BSC! If you’re a lender looking to enjoy great yield on your crypto assets, or if you’re just looking to leverage your assets by borrowing, try Multiplier.Finance today!
They have various tutorial guides and FAQs on their website (in Chinese too), as well as an active Twitter, Telegram and Discord.
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