Multiplier V2 Official Launch on 19th 2021
Multiplier Finance is an algorithmic money market system designed to bring secure and unique lending and borrowing opportunities like flash loans onto the Binance Smart Chain. The protocol designs are architected and forked based on Aave with revenue sharing components for liquidity providers and token holders that govern the protocol.
In coming days, 19th August 2021 Multiplier v2 will be launch which includes the launching of incentivized lending and borrowing pools. All existing users currently participating in V1 Lending & Borrowing pools, should migrate their assets to V2 on 17th August to enjoy the new rewards.
Multiplier V2 will include new lender and borrower incentives where lenders who deposit stablecoins, and borrowers who loan BTC, ETH and BNB will receive additional rewards daily with high APY in returns.
New Deflationary Mechanisms
Various protocol fees will now be burned, including flash loan fees and cross-chain conversion fees. These fees will now be burned in $bMXX, or used to buy $bMXX to be burned. Additionally, revenue generated from our 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.
New Lender & Borrower Incentives
Multiplier V1, inspired by Aave, is a lending protocol originally conceptualized to forgo lending and borrowing rewards or emissions. V2 will now include new lender and borrower incentives where lenders who deposit stablecoins, and borrowers who loan BTC, ETH and BNB will now receive $bMXX token in daily basis.
Multiplier V2 Key Features
- Increased Governance Incentives—The current governance incentives of 400 $bMXX shared daily among stakers will be increased threefold to encourage greater governance participation.
- New Dark Mode UI—V2 will include a Dark Mode option. Users may toggle between Dark Mode and Light Mode in the new v2 UI.
- New 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.
- New Collateral Repayment Feature—Multiplier V2 will allow users to repay their debt/loans with their deposited collateral.
- New 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 tx.
- Debt Tokenization—In V2, borrowers will receive receipt tokens that represent their debt. This debt tokenization allows borrowers to manage their debt positions from their cold wallets.
Listed above are the unique features that the Multiplier V2 have, where its users will get to enjoy when its finally launch. Aside from this features, V2 will also have fees adjustments. Various protocol fees have been adjusted in V2, such as the removal of loan origination fees, and the reduction of flash loan fees. Fee adjustments were based on market feedback as well as with new deflationary mechanisms.
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.
Be part of the growing ecosystem of Multiplier, start staking today and take your sweet profit in the future.
ABOUT Multiplier
Multiplier is a non-custodial lending protocol on Binance Smart Chain with flash loans.
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“We deliver the news article base on our own thorough research. We want to preserved some important information regarding with the project that are presented in our column. We value our reader’s opinion and we thank you for your valued respect to us.We also don’t advice our readers to invest. As we always say ” Invest at your own risk and only invest what you can afford to lose “.
