Delivering Trustworthy Assets During Uncertain Times — FinNexus & Bitrue Spark a DeFi Revolution
On May 11, participate in a piece of crypto history. Buy FNX!
We live in a completely different world than existed just three short months ago. The stock market crashed. Bitcoin crashed. Oil crashed. Not once, but twice! Three days ago, the oil futures contract for May delivery sank to a low of negative 37 dollars. Negative! We live in unprecedented times.
Now more than ever, investors must scrutinize the specific details of their holdings. These days it’s irresponsible to just “YOLO Market Buy!” any project that promises to moon 100x within a year. Token holders must align themselves with teams and ecosystems with long-term visions for bringing value onto the blockchain.
“Supplying investors with a diverse range of quality assets for different investment strategies is critical in the post-COVID-19 market. We will integrate advanced blockchain and legacy system protocols to make more assets accessible on-chain throughout the world,” said Boris Yang, CEO of DeFi platform FinNexus. His team believes that bringing both traditional finance investment products and true cutting-edge innovations are the key to the future of DeFi.
FinNexus Partners Are Top Notch
Luckily, FinNexus has associated itself with heavy hitters. Already backed by blockchain finance base layer outfit Wanchain, the 2020 roadmap for this ambitious startup also includes tokenized assets to be released on the XRP Ledger. They’ve also partnered with Bitrue — a leading financial services company with a strong user base in Europe and South-East Asia — to launch a token sale for their native utility token FNX starting on Monday, May 11. With a focus on rapid iteration and user-focused features, Bitrue is climbing the ranks of trusted digital asset exchanges.
“Innovation has always been at the heart of Bitrue, from the introduction of our Power Piggy product that gives ordinary investors a chance to earn while they sleep, to our adoption of XRP as a base currency, we’re always on the lookout for new ways to bring value to our users. We’re excited to be working on yet another cutting edge and unique financial product” said Curis Wang, CEO of Bitrue.
What makes Curis so excited about FinNexus?
FinNexus’ philosophy is to bring inventive and varied assets on chain in order to further enrich the composability, or “money Legos” attribute, of DeFi application ecosystems. By integrating unique digital assets on the XRP Ledger, FinNexus will introduce the fast-growing DeFi space to XRP, which so far has been insulated from this new and exciting industry.
Integrating Asset-Backed Tokens into DeFi
One glaring deficiency of the DeFi ecosystem is its lack of asset-backed tokens. FinNexus will utilize XRP’s robust interface with fiat currencies to enhance the usability of digital assets that tokenize actual cash flows. This proof of concept, initiated in partnership with a prominent Indonesian lending platform, will be released soon.
Bringing the passionate XRP fanbase to the exciting world of DeFi was an opportunity that the FinNexus team could not pass up. The XRP Army deserves more investment options. The FinNexus community is likewise excited about interfacing FNX-based protocols with the XRP Ledger — the future backbone for trustless, low-cost and fast international money transfers.
Another unique benefit is Incorporating FinNexus’ real world tokenization products into the FNX token distribution model. FNX holders enjoy conversion rights that provide a groundbreaking safeguard mechanism against price drops. Only upward potential remains for up to 80% of the FNX purchased during the sale. Click a button, and risk-averse token holders can lock in an annualized 10% yield within the first 3 months of owning FNX.
Introducing Fully Decentralized Bitcoin Options
While the FNX utility token will be minted as a WRC20 token on the Wanchain (WAN) blockchain, FinNexus will use WAN’s existing cross-chain protocols with Bitcoin and Ethereum to pioneer a protocol suite for the fully decentralized issuance of tradable options tokens for Bitcoin. Later, other crypto-assets and tokenized real assets will be added to the options platform. FNX users can hedge, speculate and insure their digital assets to suit their risk preferences. These products will debut on the FinNexus interface later this year.
Boris Yang was the founding technical lead at Wanchain because he wanted to be a part of making a fairer and more efficient global financial system. Having laid that technological foundation, his new goal as the CEO at FinNexus is to deliver that value wholly to each individual crypto-asset holder.
“We want to build FinNexus into a crypto supermarket, where users may discover many different unique products to efficiently satisfy their needs.”
On May 11, the FinNexus journey begins in earnest on Bitrue.
A shorter version of this post was released on PR Newswire here.
About FinNexus
FinNexus was founded by Wanchain, a leading global public blockchain, and Superatom, an Indonesia-based fintech enterprise with high profile investors. FinNexus is currently building a suite of innovative layer-3 protocol clusters to link the emerging world of blockchain solutions with the dizzying array of legacy systems that manage the global financial services industry today. FinNexus protocols will enable the creation of many innovative digital assets based on both real world enterprises as well as decentralized ecosystems by removing entry barriers for the creation, listing, and discovery of tokenized assets.
Please visit https://finnexus.io/.
About Bitrue
Bitrue is a growing cryptocurrency exchange and digital asset management service disrupting the industry by adapting traditional financial services to newly emerging crypto markets. Launched in July 2018, Bitrue offers worldwide services to cryptocurrency investors with offices across the globe. Bitrue has a close relationship with Ripple, with whom they share a vision regarding the potential of crypto-assets, and has become one of the top exchanges within the XRP community. They now support over 50 XRP pairs and have become one of the top 3 exchanges globally ranked by XRP volume, owing to significant market share in English speaking markets and SEA. Bitrue is backed by strong communities and is quickly becoming the one-stop platform for crypto traders around the world with its latest addition of fiat purchases.
More information is at https://www.bitrue.com.
About FNX Token Sale
Important tweets: 1 | 2 | 3 | 4 | 5 | 6 |7 | 8
Press releases: PR Newswire | Yahoo! News
Bitrue FNX Landing Page
Bitrue Help Center Pages: 1 | 2
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