BitMart, a premier global digital asset trading platform, will list Annex Finance (ANN) on October 15, 2021. For all BitMart users, the ANN/USDT trading pair will be officially available for trading at 4:00 AM EDT.
What is Annex Finance?
Annex Finance is a lending/borrowing platform for cryptocurrencies. The project goal is to bridge the traditional lending platform for BSC, ETH, and Poly network bringing the network closer to each other, starting on BSC. Project will include DEX swap allowing users to create LP and liquidity with high APY returns, increasing ANN price/volume while allowing users to borrow and supply assets through smart contracts. The protocol will also be offering NFT marketplace as well as IDO auction, Annex Finance is aiming to be a one stop shop multi-chain DeFi platform.
Annex Finance allows users to utilize their cryptocurrencies by supplying aToken (ANN) to the network to earn passive income, supplying both collateral and liquidity respectively. By utilizing ANN tokens, this enables the community to
(1) Create a secure lending platform where lenders receive a compounded interest rate paid per block while borrower pays interest on the cryptocurrency borrowed
(2) Supplying liquidity contributing to the continuation and sustainability of the ecosystem
(3) Governance of select protocol features supporting flexibility and community ownership.
(4) Enable purchase and bid of NFT collectibles.
(5) Auction currency with ANN.
Unlike traditional finance systems, Annex Finance is enabled by an integrated DEX so that the community can swap tokens through a community-centric Defi platform. The community enhances the platform by detaining its governance through votes.
Features
To enforce the project’s commitment to the benefit of the community. Annex Finance will be launched with the following:
· BEP20 tokens swap & Liquidity Mining
· Borrowing cryptocurrencies and stablecoins with collateralized lending through the Binance smart chain network
· Supply cryptocurrencies and stablecoins and earn variable APY for providing liquidity to the protocol
· Borrow stablecoins from supplied collateral
· Initial liquidity provider will get extremely high APY with ANN. Please refer whitepaper.
· Annex Finance will feature a time lock system to control funds value. This feature will allow user to select a lock up time, the longer the assets are locked, the higher ANN apy will be paid out. Please refer whitepaper.
· Securing native LP allows users to earn high APY for providing liquidity to the protocol.
· ANN will act as a governance token for the community as well as supporting other future development.
· There will be a total limited supply of 1,000,000,000 tokens released over the course of the platform’s growth, the project token will be launched with an initial distribution supply of 50,000,000 tokens.
· All liquidity will be controlled via smart contracts, only stakeholders will have access to their own funds, security audit will also be implemented as soon as possible to ensure investors ease of mind that all funds are safe.
About BitMart
BitMart Exchange is a premier global digital assets trading platform with over 5 million users worldwide and ranked among the top crypto exchanges on CoinMarketCap. BitMart currently offers 370+ trading pairs with one of the lowest trading fees in the market. To learn more about BitMart, visit their website, follow their Twitter, or join their Telegram for more updated news and promotions. Download BitMart App to trade anytime, anywhere.
About Annex Finance
Annex Finance is a lending/borrowing platform for cryptocurrencies. The project goal is to bridge the traditional lending platform for BSC, ETH, and Poly network bringing the network closer to each other, starting on BSC. To learn more about Annex Finance, please visit their website, follow their Twitter and join their Telegram.
