The project has been created to promote 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.
Decentralized Finance (DeFi) has taken cryptocurrency a step further into making every financial service universally accessible. Harnessing the power of blockchain and smart contracts, it has made financial services available to virtually anyone with an internet connection. As a result, it bypasses the need for traditional intermediaries, like a bank or lawyer.
Gennix is a DeFi Layer 2 lending protocol 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 a decentralized network. A game-changing feature that distinguishes Gennix from other DeFi projects is its development on the Binance Smart Chain (BSC) network and Non-Fungible Tokens (NFTs) with utility.
Lending markets mostly appeal to borrowers who require capital for trading or leveraging purposes throughout decentralized financing. A massive inflow of institutional capital through different protocols and networks was recently observed.
NFTs are tokenized versions of tangible or digital assets. Each token is unique, authentic, and digitally scarce. In addition, NFTs can only be sold, exchanged, or transferred in their complete form. Because of these unique properties, NFTs have helped bridge assets across different industries.
Considering the challenges present in the DeFi and Blockchain Technology space, Gennix is committed to overcoming the technical shortcomings of the present network and bridge the divide between borrowers and lenders.
Gennix is a DeFi Layer 2 lending protocol designed to maximize scalability, composability, and growth. The project has been created to promote 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.
As discussed above, we plan to offer sophisticated financial products to our users. We decided to introduce goods into our microlending segment as our first bid. Micro-financing provides investors with a far lower cost in terms of interest than conventional banking and Peer-to-Peer (P2P) markets, with time-binding credit. These loans may be taken directly into the wallets and used for different purposes. For small businesses, microlending offers a big use case of capital fulfillment for their daily operational needs.
The leverage element indicates the amount of liquidity present in each asset pool. A smaller number represents lesser liquidity, whereas a larger number represents more underlying assets forming the liquidity provision. The ability of users to obtain loans is reliant on pools of the underlying assets and liquidity – based on the supplied collateral.
