New borrowing and lending protocol aims to reduce the wealth gap and create a fair wealth generation ecosystem through its low-collateral and yield boosting
Technicorum Holdings an IT and service group specializing in Digital Assets and successful incubator of innovative DeFi and NFT project KingSwap, today jointly announced the Gennix microlending platform, launching in August. Gennix is a decentralized, frictionless digital asset borrowing and lending protocol that leverages Layer 2 scaling solutions on the Binance Smart Chain (BSC). Gennix is built for everyone from working professionals to investors to entrepreneurs. Using low collateral ratios and yield boosters, Gennix intends to create a fair system that generates income for all investors with the aim of reducing the wealth gap between socio-economic classes.
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A recent spike of services within the DeFi lending industry has benefited both lenders and borrowers. Unlike competitors, Gennix has increased security and uses the BSC ecosystem to leverage on high transaction speeds and low gas fees – leading to a highly decentralized and efficient borrowing/lending platform. This allows long-term investors to lend assets and earn higher interest rates. This is in stark contrast to traditional finance, where centralized financial institutions take custody of the assets of investors, offer low interest rates on deposits, and charge high interest rates on loans. Moreover, Gennix offers a binary options platform, which grants users of the platform access to sophisticated financial tools – made simple by an intuitive UI.
“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”, said Keefe Tan, Project Director of Gennix. “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.”
Many DeFi lending platforms were developed on the Ethereum ecosystem. Development on the Ethereum blockchain grants developers access to a wealth of tools such as smart contracts and DApps, but has a severe limitation of scalability, as well as high gas fees and slower transaction speeds relative to development on the Binance Smart Chain (BSC).
BSC was built from the ground up to be EVM-compatible (Ethereum Virtual Machine), and is highly scalable, interoperable and blockchain agnostic. Interoperability is a concept by which different blockchains can communicate with one another, while enabling the smooth sharing of information between different blockchains. Being blockchain agnostic means that the Gennix ecosystem is not constrained to the use of a singular blockchain protocol – effectively future-proofing the platform against unexpected developments in the blockchain space.
Microlending on the Gennix platform aims to replace the pillars of revenue of the current financial system by charging significantly less interest than traditional banks with time-binding credit. This not only cuts out the middleman but allows investors in the https://gennix.io/ ecosystem to use their capital for investments, rather than fees. The implementation of binary options aims to simplify seemingly complex options trading systems and allow users to generate more wealth while decreasing the exposure of their capital to the volatility of the crypto market.
Gennix will be offering various tiers of NFT, but unlike most NFTs that only serve as collectibles, our NFTs offer our users vast amounts of utility by means of $GNNX token airdrops, trading fee bonuses and additional staking rewards.
Gennix’s proof of stake reputation model increases the security of this project. Reputation in DeFi lending/borrowing platforms is paramount to the success of our project – as having little to no collateral while taking loans requires the utmost trust that the borrower will repay the loan plus interest on time. This is made possible by leveraging on our trustscore protocol and Blacklist capabilities, thus ensuring we have the highest quality of both borrowers and lenders across all DeFi borrowing/lending platforms – thus ensuring our position as dominant entities in this faction of the crypto space.
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