Multiplier Finance — an algorithmic money market system helps to provide safe and unique lending and borrowing opportunities such as instant loans to Binance's smart chain. The protocol drafts are designed and forked, based on Aave with revenue sharing components for liquidity providers and token holders who govern the protocol. bMXX, the BEP-20 token, will be the Multi-Chain (Lend) governance token.
Contents:
Brief information about the Multiplier Finance platform
Users can participate with supported digital assets on the platform, which can be as collateral for loans or as liquidity. The delivery of digital assets to the platform enables users to participate as “CREDITORS” while maintaining the safety of the collateral in the protocol. Lenders will receive a variable interest rate, depending on the use of that particular market.
Users, who wish to borrow from Multi-Chain Lend (MCL), must provide collateral, which will be in the protocol. The surplus collateral must back these assets and will allow borrowing up to 75% of the collateral value. These provisioning factors are defined by the protocol and controlled through a management process that is documented in this document.
The platform has 2 types of commissions:
| 1 | Loan commission, starting from 0.001% of the loan amount, is charged when the loan is issued. |
| 2 | Term loan commission, starting from 0.06%, of which: 70% - to lenders, 20% - to the management pool, 10% - to the reserve pool. There are also fees (in BNB) for transactions in the Binance Smart Chain - depending on the status of the network and the complexity of the transaction. |
You simply deposit the desired asset and amount. After making a deposit, you will earn APY on market demand for loans. In addition, asset escrow allows you to borrow, using the deposited assets as collateral. Any interest you earn helps to offset the interest rate that you accumulate through loans.
Additional data
Your funds are in a smart contract. The smart contract code is publicly available, open source, formally audited and tracked by third-party auditors. The site has a LitePaper document. With its help, you can familiarize yourself with the system in more detail.
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