INTRODUCTION

DeFi is not an uncommon term in the current financial system due to its growing impacts on the financial market. It provides solutions to the limitations of traditional finance. It encourages an open and decentralized financial transaction that won’t depend on intermediaries, like banks, insurers, brokerages, or stock exchanges. Instead, it allows the use of decentralized networks to provide services to users. Despite the fact cryptocurrency allows decentralized transactions, it is faced with the same challenges that it has always avoided; intermediaries! So, this brought about the emergence of DeFi liquidity pools.

Cyclops Finance is based on this notion. Gamers would be able to convert their Non-Fungible tokens to fiat, utilize them as collateral for loans, and engage in Decentralized Exchange (Dex) Lending and Borrowing. The Cyclops Finance team has now transferred the project to the Binance Smart Chain and renamed it ETNA. Zeus resides on Mount Olympus, while the Cyclops relocated to Mount Etna, according to Greek mythology. The project team came up with the term ETNA to represent the transition from the Cyclops Finance Erc20 network to ETNA's Binance Smart Chain network.

About ETNA

ETNA Cryptocurrency lending platform works by connecting borrowers to a network of lenders registered on the platform. To borrow an amount, the borrower needs to first deposit his/her crypto assets on the platform as “Collateral”. The lender can lend the amount to borrower and earn interest over it. Once, the borrower repays the loan with interest, he/she get’s back his/her crypto assets from the crypto lending platform.

For lenders it could be an opportunity to earn some interest by lending it to other users. Borrowers would be able to avoid the pressure to sell cryptos when they feel that price may rise in future.ETNA chose the Binance Smart Chain network to provide its clients with cost-effective and user-friendly Defi goods. A thirteen-minute video review of the film is posted below.

ETNA's Initiative

The Lending/Borrowing and Hybrid marketplace systems are the two most important applications on the Decentralised Finance platforms. The ETNA platform, created by the core team, has effectively combined these characteristics into one system. As a result, this is one Defi platform that any crypto Defi fan should participate with and not overlook.

Borrowing and Lending:

By incorporating an NFT tokenization method, Cyclops Finance was the first lending platform to enable the use of non-fungible tokens as collateral security to receive loans. In Cyclops finance, the team cleverly devised a leverage function that aids investors in avoiding the high-interest rates demanded by decentralized platforms. Once again, interest-free loans are available when ETNA tokens are used as collateral security. So, no matter how you look at it, ETNA is a win-win situation for all parties involved. By eliminating interest costs for traders who use ETNA tokens as collateral, the value of ETNA tokens will rise, and the market price will rise as well.

Hybrid Market Place is a type of marketplace that combines the best of both worlds.

ETNA's technology effectively combines the traditional liquidity DEX protocol with a broker-to-buyer transaction. The Hybrid Market Place combines a trading product with payment gateways, allowing investors to trade different crypto assets without having to maintain multiple crypto wallets. This eliminates the hassle of going from one website to the next in order to access a wallet or obtain several pieces of information.

ETNA and other Stablecoins are compared.

ETNA, BUSD, DAI, and USDT may all be compared using the graphic below. It is evident that ETNA offers the most affordable prices for every multiple of 10. The Annual Percentage Yield (APY) is 15% every year.

Contact With Us:

Website: https://etna.network
Whitepaper : https://www.etna.network/assets/ETNA.pdf
Twitter: https://twitter.com/EtnaNetwork
Telegram: https://t.me/EtnaNetwork
Medium : https://etnanetwork.medium.com
Discord : https://discord.com/invite/dbuEXdm
Github : https://github.com/etna-network

Author By:

User Name : Casini
BTT profile : https://bitcointalk.org/index.php?action=profile;u=2742305
BSC Wallet : 0xec440022a3ca22c4dc196eb6dd05e405b9527a72