ETNA: A Gaming Network and a Hybrid Marketplace!

blockchaintrace (2)in #etnanetwork • 3 years ago

In the conventional video game business, tech giants like Microsoft and Sony have introduced collectible things like Achievement points for Xbox and Trophies for Sony PlayStation to help measure the amount of work a player puts into a video game. Achievement points may be traded for other valuable things, which can then be converted for fiat cash in the US dollar. Players in a game like Fortnite might be rewarded with US Dollars for their achievements and goods in the game.

Cyclops Finance is based on this notion. Gamers would be able to convert their Non-Fungible tokens to fiat, utilize them as collateral for loans, and engage in Decentralized Exchange (Dex) Lending and Borrowing. The Cyclops Finance team has now transferred the project to the Binance Smart Chain and renamed it ETNA. Zeus resides on Mount Olympus, while the Cyclops relocated to Mount Etna, according to Greek mythology. The project team came up with the term ETNA to represent the transition from the Cyclops Finance Erc20 network to ETNA's Binance Smart Chain network.

ETNA: A Review

ETNA is a user-friendly lending/borrowing and trading platform with a simple interface. The Binance Smart Chain architecture is used to create a decentralized platform. The main goal of the core team is to promote the global adoption of Decentralized Finance (Defi) technology. The core team wants to make using the platform as simple as possible by avoiding the usage of numerous wallets. There are no intermediaries or regulating organizations in the Decentralized Finance ecosystem, removing any single point of failure. Because of the tendency that the Defi system provides, the ETNA team picked Defi over Centralized Exchange, CeX. In just over a year, the Defi system's total locked assets have increased by up to 9,700 percent. ETNA is entering this market to provide user-centric solutions to help the Defi innovative category grow. ETNA chose the Binance Smart Chain network to provide its clients with cost-effective and user-friendly Defi goods. A thirteen-minute video review of the film is posted below.

ETNA's Initiative

The Lending/Borrowing and Hybrid marketplace systems are the two most important applications on the Decentralised Finance platforms. The ETNA platform, created by the core team, has effectively combined these characteristics into one system. As a result, this is one Defi platform that any crypto Defi fan should participate with and not overlook.

Borrowing and Lending:

By incorporating an NFT tokenization method, Cyclops Finance was the first lending platform to enable the use of non-fungible tokens as collateral security to receive loans. In Cyclops finance, the team cleverly devised a leverage function that aids investors in avoiding the high-interest rates demanded by decentralized platforms. Once again, interest-free loans are available when ETNA tokens are used as collateral security. So, no matter how you look at it, ETNA is a win-win situation for all parties involved. By eliminating interest costs for traders who use ETNA tokens as collateral, the value of ETNA tokens will rise, and the market price will rise as well.

Hybrid Market Place is a type of marketplace that combines the best of both worlds.

ETNA's technology effectively combines the traditional liquidity DEX protocol with a broker-to-buyer transaction. The Hybrid Market Place combines a trading product with payment gateways, allowing investors to trade different crypto assets without having to maintain multiple crypto wallets. This eliminates the hassle of going from one website to the next in order to access a wallet or obtain several pieces of information.

ETNA and other Stablecoins are compared.

ETNA, BUSD, DAI, and USDT may all be compared using the graphic below. It is evident that ETNA offers the most affordable prices for every multiple of 10. The Annual Percentage Yield (APY) is 15% every year.

Contact With Us:

Website: https://etna.network
Whitepaper : https://www.etna.network/assets/ETNA.pdf
Twitter: https://twitter.com/EtnaNetwork
Telegram: https://t.me/EtnaNetwork
Medium : https://etnanetwork.medium.com
Discord : https://discord.com/invite/dbuEXdm
Github : https://github.com/etna-network