The digital assets will be available for purchase to be used as collateral for loans and provide NFT owners with additional staking rewards and platform fee discounts
SINGAPORE Aug 12 2021 (Blockchain Wire)
— Technicorum Holdings, which has been incubating the innovative DeFi and NFT project KingSwap (https://www.kingswap.io/), today announced that its decentralized microlending platform, Gennix, will offer investors the opportunity to purchase and stake Gennix NFTs on the Rarible and OpenSea marketplaces. Until now, non-fungible tokens have been solely collectible digital assets; however, the Gennix protocol will incorporate them into its project structure, adding utility and value for all investors. “NFTs, mixed with this explosive and the emerging financial vertical have limitless potential,” said Malcom Tan, Chief Strategic Advisor for Technicorum Group. “Investors will be able to use them as collateral in the DeFi lending ecosystem; and in the future, they can also represent more complex financial products like insurance, bonds and other options.”
NFTs have redefined the crypto space as each NFT serves as a tokenized version of real or digital assets that are unique, authentic and digitally scarce. Due to their unique, smart contracts on the blockchain, they can only be sold, exchanged or transferred in their whole form, lending themselves to bridge to, and serve multiple industries.“The five inaugural Gennix NFTs are named after utilities included within the Gennix ecosystem,” said Keefe Tan, Project Director of Gennix. “Stakers and investors of the Genesis, Aurora, Serenity, Byzantium and Metropolis NFTs will have privileged access to token airdrops, trading fee bonuses and additional rewards announced at a later date.”
The first collection of Gennix NFTs created by Technicorum Holdings and Gennix will be available for purchase on August 20, 2021 with more collections to follow. Detailed information on Gennix NFTs will be released closer to the launch date.Gennix protocol will serve in stark contrast to traditional financial services, by promoting end-to-end lending and borrowing of digital assets and related financial products by operating on public networks. Platform users and NFT investors will take advantage of earning fast and safe transactions with low gas rates. The proof-of-stake reputation model will increase security of the project by leveraging its Trustcome Protocol and Blacklist capabilities, which ensure the highest quality for both borrowers and lenders across all DeFi borrowing/lending platforms.
For more information on Gennix, please visit https://www.gennix.io/.
Technicorum Group comprises of subsidiaries, a few which are regulated, specializing in various verticals in the Digital Assets space, with a one-stop-shop capability to launch, incubate and bring to the global market any blockchain, digital asset, fintech, NFT, DeFi etc project, and is primarily responsible for the KingSwap project, with references of over 100 ICO’s worked on in the past 3 years through its subsidiaries.
Gennix is a DeFi-built uniform Layer 2 lending protocol that’s designed to maximize scalability, composability, and growth. The project promotes end-to-end lending and borrowing of digital assets and related financial products by operating on public networks. A game-changing feature that distinguishes Gennix from other DeFi projects is its foundation on the latest innovative BSC network and the introduction of NFT yield boosters. For more information, visit http://www.gennix.io/. All product and company names herein may be trademarks of their registered owners.