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Lynqyo, Aave, and Binance Coin Are Moving to Transform Crypto Lending

Place/Date: - September 8th, 2022 at 1:41 pm UTC · 4 min read
Source: Lynqyo

The trend of cryptocurrency today has made several people eager to try and earn profits in the crypto sector; most only think about holding and selling when the price of the asset increases. However, cryptocurrencies like Lynqyo (LNQ), Aave (AAVE), and Binance Coin (BNB) offer a great alternative to earning with digital assets – crypto lending.

The concept of crypto lending is similar to traditional lending services. The only difference is that lenders loan their crypto assets – instead of fiat currencies – on a decentralized platform. These lenders also receive crypto dividends in exchange for the amount they lent.

However, Lynqyo, Aave, and Binance Coin are outstanding cryptocurrencies for lending since they offer special services for creatives, expansive liquidity pools, high returns for liquidity providers, etc.

Let’s explore how the above tokens facilitate better crypto lending services.

Lighting a Fire Under the Cryptosphere – Lynqyo

Lynqyo (LNQ) is a new cryptocurrency created for ownership of non-physical content, governance, and liquidity. Its network is a Content Economy Protocol; therefore, it uses financial instruments to operate DeFi activities such as subscription payments, rewards, and guaranteed lending.

The Lynqyo protocol grants access to these services using an intrinsic utility token – the LNQ token. Based on the Polygon network, this LNQ token serves three primary functions – governance, utility, and fan rewards. Consequently, it facilitates swift, affordable, and cross-chain transactions.

The LNQ token is also a liquidity pool token that rewards liquidity pool providers. Furthermore, it incorporates decentralized banking with various financial services explicitly designed to give creatives on the platform access to extra funds without third parties.

Consequently, it implements a Dynamic Liquidity Protocol as a continuous loan mechanism, guaranteed by subscription revenue from the creators. This service encourages and attracts more creators to the platform since they can borrow from the protocol to facilitate their activities, using their earnings on the platform as collateral.

The ongoing LNQ token presale offers interested buyers opportunities to earn cash-back rewards after purchasing LNQ tokens. Early buyers who purchase within 10 minutes of signup will receive a 25% bonus, while the 2nd, 3rd, 4th, and 5th purchases will receive a 50%, 100%, 120%, and 130% bonus each.

Make Your Stake – Aave

Aave is a prominent DeFi lending protocol in the crypto sector. It uses smart contracts to permit people to lend and borrow crypto and real-world assets without intermediaries.

Built originally on the Ethereum blockchain, the Aave protocol boasts one of the largest lending pools in the blockchain industry. Both lenders and borrowers benefit from the Aave protocol.

Aave lenders earn interest based on the volume of their assets in the liquidity pool, while borrowers receive extra funds using their assets as collateral. Borrowers on the decentralized platform also benefit from ‘flash loans’, which help them access quick emergency funds without collateral.

The protocol’s native token – the AAVE token – governs the Aave DAO.  It facilitates voting on Aave Improvement Proposals (AIPs) and helps to decide voting outcomes. Also, AAVE holders can stake their tokens within the protocol to secure the network and earn staking rewards and fees from the protocol.

Can the King Be Toppled? Binance Coin

Binance Coin is the native token of the Binance Exchange – the world’s largest crypto exchange. As a utility coin, Binance Coin (BNB) offers discounted trading fees to users on both the Binance CEX and DEX. Therefore, it is useful for different activities on the crypto platform.

Binance users use the Binance Coin (BNB) to pay transaction fees. Most importantly, the coin facilitates low-interest loans on the Binance CeFi platform. The crypto giant offers different crypto assets for users to lend, borrow, and earn passive income. Borrowers can easily access simple crypto-collateral loans across many tokens and coins, including BTC, ETH, and BNB.

The funds for these loans come from Binance users who wish to earn interest on their HODled crypto assets. Therefore, crypto lending on Binance provides value to both the borrower and the lender.

Crypto lending and borrowing have massive potential for growth. Cryptocurrencies like Lynqyo (LNQ), Aave (AAVE), and Binance Coin (BNB) have what it takes to make more transformative impacts.

You can follow up on the ongoing LNQ token presale by visiting the links: Website, Presale, Telegram.

Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.

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