Annex Finance is a decentralized marketplace for lending and borrowing. Annex Finance contains all the features of a blue-chip DeFi project and has now integrated with Cronos chain. DeFi has been on a constant rise and if the S2F model is to be taken into consideration, we could see BTC at around 135k soon, which means DeFi also will have its day out in sun.
DefiLlama currently shows 269 billion in Total TVL locked across all chains. With constantly improving DeFi Protocols and widespread crypto adoption, it can only go higher. It’s a no-brainer that borrowing from a DeFi Protocol as compared to Banks is 100x easier and faster.
Launched first on user-friendly Binance Smart Chain, Annex Finance is a multi-purpose DeFi Protocol. It has the following use-cases:
- DEX and Farm
- Lending and Borrowing
- IDO Launchpad
- NFT Marketplace
- DAO Governance
The current market cap of Annex Finance, according to CoinMarketCap, is around 14.1 million. Annex Finance’s actions of integrating to other chains will translate into further adoption. That also means, it will be constantly looking out for more assets to be lent and borrowed. Before we look at the protocol, it is important to note that it has been audited by the leading DeFi Protocol auditor Certik. The audit report can be found here. I personally don’t put my funds on any unaudited DeFi Protocols.
At the time of writing this article, there are 18 assets available for lending and borrowing. These are the supply rates (variable) for them. I suppose if one doesn’t understand the borrowing part or if one doesn’t want to complicate things, then one can simply lend their assets and earn yield. Yield is distributed in $ANN, the native governance token of Annex Finance.
Cronos is already on mainnet and there’s plenty of DeFi activities already happening on it and current TVL is > 1 Bil. which is enormous for a chain that’s recently launched. Lending and borrowing options for Cronos will be live once they receive the oracle support, probably in mid-December. They have partnered with Cronos chain. For now, one can yield-farm on selected assets. Crypto.com has a huge, loyal user-base so they will definitely flock to newer DeFi Protocols offering amazing yields. Annex also plans to expand to Polygon and Ethereum.
Socials
- Website: https://www.annex.finance/
- Medium: https://blog.annex.finance/?gi=3d6b87324d09
- Twitter: https://twitter.com/AnnexFinance
- Telegram: https://t.me/Annex_finance_group
Disclaimer: This article was written by a third party. TheCronicle does not endorse and is not responsible for, or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. The Cronicle is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.