ABOUT THE COMPANY
Cyclops Finance has been working closely with highly skilled blockchain developers and team members as we aim to bring amazing products to the crypto community. Among the team's most important members are:
Cyclops Finance is working with a blockchain engineer with over ten years of expertise as a development lead and consultant. He holds a Ph.D. in Software Engineering as well.
Architect and Scalability Optimization Engineer: Cyclops Finance is working with an experienced Architecture Engineer to guarantee that scalability concerns are not encountered in the product.
Co-Founder and CEO: The Co-Founder of Cyclops Finance has been designing and refining the logic of all the products with a Master’s degree in applied mathematics and a background in engineering. Usability and security have been prioritized.
WHAT IS ETNA AND HOW DOES IT WORK?
Cyclops Finance is a blockchain startup that began as a hybrid gaming ecosystem with the goal of integrating in-game NFT assets into a decentralized borrowing and lending platform. On the Ethereum Protocol, enabling a seamless integration of financial and games.
Cyclops Finance is seeking to extend their lending/borrowing and Dex trading products as a result of their experience and intense interest in bringing DeFi-type goods to the Binance Smart Chain.
BSC is now focusing on developing solutions that will stimulate further use of DeFi technologies, beginning with Etna, a user-friendly lending/borrowing and trading platform.
Cyclops lived on Mount Etna in Greek mythology, thus the moniker was a natural choice for Cyclops Finance's transition to BSC. Etna intends to make it simple for people to get onboard by making it intuitive and easy to utilize the platform without having to possess numerous wallets.
WHAT IS THE PURPOSE OF ETNA?
Since Satoshi Nakamoto's early days, the Crypto sector has grown at an exponential rate. In tandem with new use-cases, developers and blockchain professionals have been consistently designing more efficient blockchain solutions.
We've recently seen the creation of Decentralized Finance (DeFi), a decentralized financial strategy without a single institution that eliminates centralized point-of-failure within the ecosystem, thanks to this wave of innovation.
DeFi is a remarkable example of innovative invention, and its popularity has skyrocketed in the last year. Observing an increase of over in just 12 months, Total Locked values increased by 9700 percent.
Etna is repositioning itself to offer more user-centric products to meet the demands of this market.
THE METHODOLOGY OF ETNA
By combining the two largest DeFi-type apps onto BSC, Etna's method combines the best of both worlds:
Lending and Borrowing: Cyclops Finance allows users to lend and borrow money. It features an NFT tokenization technique that allows any valuable NFT to be used as collateral, making it the first lending platform to facilitate the use of NFTs as collateral. It's also the first lending platform with a leveraging feature enabling lower interest rates and even interest-free loans for users that utilize native ETNA tokens as collateral.
Hybrid Marketplace: The traditional liquidity DEX protocol is combined with a Broker-Buyer type trading mechanism. Users will be able to trade numerous crypto assets without having to hold multiple crypto wallets thanks to the integration of trading products and payment gateways.
THE BINANCE SMART CHAIN APPROACH
Issues like as slower confirmation and excessive gas prices have become much more obvious as the number of applications and their use on Ethereum has grown.
Fortunately, Binance Smart Chain (BSC) addresses these concerns by employing a proof of stake consensus process. As a result, DeFi-type applications developed on BSC have experienced faster confirmations and lower gas costs.
Many DeFi projects are already creating or migrating to the Binance smart chain as a result of these favorable conditions. The Total Value Locked increased by four times in a month, from around $3 billion to $12 billion!
Etna's development on BSC would allow us to realize our goal of supplying cost-effective and user-friendly DeFi devices to our users.
BSC FOCUS by ETNA
• Lending/Borrowing of over 50 Assets
• Whitelisted NFT as Collateral
• Leveraging Feature for Interest Fee Reduction/Cancellation
• Automated Liquidity Pool Protocol
• Tiered Broker-Buyer type P2P Trading
• Fiat-Crypto Interface Integration
ROADMAP OF ETNA
Q1 2021…
• Token Presale, BSC mainet launch
• Listing on DEXs and CEXs
• Deployment of Lending and Borrowing platform on BSC
• Integration of Liquidity-Earn Yield Farming feature
• Leveraging Feature for interest fee reduction/cancellation
• Platform rebranding
• Partnership and Expansion
Q2 2021 – Q4 2021…
• Integration of Governance Mechanism
• Application for Crypto Exchange License
• Integration of Fiat interface and payment gateway
• Development of the first ever Broker-Buyer type P2P marketplace which is based on a Proof of Efficiency algorithm
• Development of mobile app that supports all the features available on Cyclops Finance
For more information use the bellow links:-
Website: https://www.etna.network/
Whitepaper: https://www.etna.network/assets/ETNA.pdf
Twitter: https://twitter.com/EtnaNetwork
Telegram group: https://t.me/EtnaNetwork
Telegram channel: https://t.me/EtnaChannel
Discord: https://discord.com/invite/dbuEXdm
YouTube: https://www.youtube.com/channel/UCgkP_qjdYSZ8iesrz5kK0YQ
Author:
Bitcointalk Username: cryptohobbs7
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2226573
BEP20 Wallet Address: 0xd948dFb82b813f80a3d14c03bfe31bFceaF3CDc3