Annex Finance – A Self-evolving and Innovative Decentralized Service
Decentralized lending is the new medium for businesses or individuals to easily get loans without any third party, while enabling lenders to earn high interest on their supplied cryptocurrencies. Utilizing these advantages, Annex Finance sets out on a mission to provide a more reliable platform for high-speed and low transaction, easy-to-supply and borrow-against collateral, and stablecoins minting on-demand within seconds.
About Annex Finance
Annex Finance is a lending and borrowing platform based on Decentralized Finance (DeFi) on Binance Smart Chain. Annex Finance understands the inefficiencies and difficulties associated with existing centralized financial systems and is working to develop a better solution by using the power and flexibility of DeFi.
Annex Finance might not be the first project trying to bridge the gap between traditional borrowing platforms with DeFi, but it will be the first to provide a DEX swap allowing users to create liquidity pools and liquidity itself to mint high APY returns. This feature can increase ANN token price/volume while letting users to borrow and supply assets through smart contracts.
DeFi borrowing/lending made convenient and profitable
Annex Finance wants to create a decentralized marketplace for lenders and borrowers with borderless stablecoins. By being on Binance Smart Chain (BSC), Annex Finance is fostering almost instantaneous and secure transactions with a significantly lower fee. Users can enjoy Borrow On-Demand features in order to have access to instant liquidity. They can use the AToken collateral to borrow from the Annex Protocol instantly with no trading fees, no slippage, directly on-chain, and available globally.
Users can borrow cryptocurrencies and stablecoins with collateralized lending through BSC’s vast network, or supply them and earn high APY for providing liquidity to the protocol, especially by being the platform token ($ANN) first liquidity source. Annex Finance will have a time lock system to manage the value of funds where users can pick a lock-up time. The longer the assets are locked, the greater the $ANN APY will be paid out. Users’ liquidity will be managed by smart contracts, and only stakeholders will have access to their own money.
Annex Finance honors the transparency and fairness of DeFi by presenting in their whitepaper clearly laid out formulas and diagrams for users to easily understand and track how the lucrative automatic holding rewards system works.
Annex Finance creates a sustainable ecosystem with multiple utilities
Annex Finance is relatively unique and diverse in its functionality and architecture.
Annex Lending
The Annex Lending protocol has developed a collateral token known as aToken. aTokens represent the unit of the collateral given and act as a redemption tool. The tokens are created and implemented through Governance processes and voted by token holders.
Users can become lenders while maintaining the security of collateral in the protocol by supplying various supported cryptocurrencies or digital assets onto the platform. These assets can be used as collateral for loans, supply liquidity, and for lenders to earn an APY.
Users who want to borrow supported cryptocurrency from the Annex Finance platform must deposit collateral or aTokens that get locked in the protocol. Once the process is completed, customers can borrow up to 80% of the collateral value. A liquidation event will occur if a user’s collateral value falls below the collateral ratio level.
Annex Finance’s AMM Decentralized Exchange (DEX)
Annex Finance’s platform will also have an Automated Market Maker (AMM) DEX, allowing users to trade and mint tokens. This DEX will provide exclusive yield farming for aTokens, giving active Annex Finance users the opportunity to earn substantially high APYs while also raising ANN price and volume.
NFT Marketplace
Annex Finance will also build a Non-Fungible Token (NFT) marketplace where users will be able to purchase, sell, and swap unique digital creation or mint NFTs using Annex Finance’s NFT minting tool. Annex Finance’s native token, $ANN, will be utilized to bid on for-sale NFTs.
Annex Finance also supports an IDO Launchpad and DAO Governance, promoting a community-centric crypto platform.
Tokenomics
$ANN is the main token of Annex Finance. The ANN token will serve as a governance token for the community, as well as a support token for any future projects.
The project token will be distributed with an initial distribution quantity of 50,000,000 tokens, with a total restricted supply of 1,000,000,000 tokens released during the duration of the platform’s growth.
Specifications:
– Token name: aToken
– Token ticker: $ANN
– Token decimals: 18
– Type: BEP-20
– Network: Binance Smart Chain
– Total supply: 1,000,000,000 $ANN
Use case:
– Activate Lending/Borrowing protocol
– Mint
– Trade on NFT Marketplace
– Take part in DAO Governance and IDO Launchpad
Token distribution:
Roadmap
Annex Finance has integrated with Cronos chain to become the world’s first lending platform for Cronos network. Cronos is already on the mainnet and there are plenty of DeFi activities already happening on it. The current TVL is over 1 Billion, which is enormous for a chain that has just recently launched. Lending and borrowing options for Cronos will be live once they receive the oracle support, probably in mid-December. The project also hopes to branch out to other blockchain networks, starting with the release of its first set of Wolf NFT in ETH. Annex Finance has been audited by the leading DeFi Protocol auditor Certik.
Social Channels
Learn more about Annex Finance:
Final Thoughts
Annex Finance is now among the few courageous services that aim to solve the Defi crypto loans challenges through utilizing the leverage that Binance Smart Chain has. With such a strong mission in mind and the benefits of the users at heart, Annex Finance can definitely take long strides in the long future.
Disclaimers
Writers’ opinions are solely their own and do not constitute any financial advice, investment advice or trading advice.
BSC Army strongly recommends that you do your own research and seek professional advice from a financial advisor where appropriate.
