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Multiplier V2 Sets New Standard For BSC Lending

The lending protocol offers fee reduction and deflationary mechanisms among other new features.

Multiplier Set to Launch V2

Multiplier Finance was first featured in a BSC News project insight 3 months ago, when they first launched their decentralized lending protocol on Binance Smart Chain (BSC) with flash loan support. 

Multiplier will officially launch V2 on August 2nd 2021 with a variety of new features to their lending protocol, as well as new and improved incentives for users who borrow and lend on their platform.

V2 will give users the most seamless experience when they borrow and lend, and is part of a continuous upgrade aimed towards unlocking greater value in Decentralized Finance (DeFi).  

Let’s dive into the various features V2 has to offer, including a comparison chart with other leading protocols in BSC, and their new V2 incentive rewards!


How Multiplier Finance Works

Investors earn interest by committing their assets to lending pools, from which funds are made available to borrowers. The protocol is audited by CertiK and Kudelski Security (auditors of Solana), and crypto assets are partially covered by CertiKShield and Soteria Finance.

Since launch, Multiplier has accomplished their Q2 roadmap, which focused on synergic goals such as the onboarding of new collateral assets, integration of new wallets, and strategic collaborations with leading players including Alpaca Finance, ApeSwap, Wault Finance, and PancakeSwap.

Multiplier’s current TVL stands at over 20 million at time of writing.

 

Comparison Chart

 


Multiplier V2 Features

Adjustment of Fees

Various protocol fees have been adjusted in V2, such as the removal of loan origination fees, and the reduction of flash loan fees.

Deflationary Mechanisms

Fees generated from flash loans will now be burned. Additionally, revenue generated from the liquidation bot will be used to buy and burn bMXX. This is the first time bMXX will adopt deflationary burn mechanisms, ensuring a healthier ecosystem in the long-term.

Collateral Swap Feature

Multiplier will be integrating with PancakeSwap to bring the swap feature to the platform. Users will have the ability to swap their deposited assets to other assets during a loan.

Collateral Repayment Feature

Multiplier V2 will allow users to repay their debt/loans with their deposited collateral. This allows for greater flexibility especially when it comes to collateral liquidation risk.

Batch Flash Loan Feature

Flash-borrowers could only borrow one currency at a time with V1. Batch Flash Loans will allow developers to execute a Flash Loan with multiple assets inside the same transaction.

Debt Tokenization

In V2, borrowers will receive receipt tokens that represent their debt. Debt tokenization allows borrowers to manage their debt positions from their cold wallets.

Stable & Variable Rate Borrowing

With V2, borrowers can have both a stable borrow position and a variable borrow position at the same time, with the same underlying asset, from the same wallet. This gives borrowers more options and flexibility for their loan position, and borrowers are still able to switch between the variable and stable rate at any time during a loan.


Incentives and Rewards 

New Lender & Borrower Incentives

Multiplier V1, inspired by Aave, is a lending protocol originally conceptualized to forgo lending and borrowing rewards.

V2 will now include new lender and borrower incentives — lenders who deposit stablecoins, and borrowers who loan BTC, ETH and BNB will now receive additional rewards daily (on top of the APY!)

 

Additional Governance Incentives

Current governance incentives of 400 bMXX shared daily among stakers will be increased threefold to 1200 bMXX daily! 

The increase in governance incentives is designed to encourage greater participation from existing holders, who can now stake their bMXX for higher rewards, proposal and voting rights. 

bMXX holders will play a significant role in shaping the direction and success of Multiplier V2 on BSC. 

bMXX goes through 4/7 Multi-Sig with reputable signatories from leading communities such as Autofarm, Beefy Finance, PancakeSwap, Bitcoin Addict and StableXSwap. 

The new incentive models are not only expected to increase user participation, but also to attract various protocols such as yield optimizers to build strategies on top of the V2 pools.

Start staking now and have a say in Multiplier’s bright future! 


*300,000~ bMXX staked in V1 governance at time of writing. 


Conclusion

Mark the date! Join the launch of V2 on August 2nd 2021 to enjoy the highest rewards for lending and borrowing on the platform, and the great governance incentives! 

V2 features are unparalleled among other lending protocols on BSC! If you’re a lender looking to enjoy great yield on your crypto assets, or if you’re just looking to leverage your assets by borrowing, try Multiplier.Finance today!

They have various tutorial guides and FAQs on their website (in Chinese too), as well as an active Twitter, Telegram and Discord.

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