Bitcoin News

Impermax Joins Hands With SX Network

Impermax, the automatically programmed cryptocurrency lending hub, has launched its LP lending and borrowing code on the SX Network. The features of Impermax are availed of by clients of decentralized crypto exchanges like Uniswap. This is because the lending platform provides the best, most unique amenities- both to lenders and borrowers alike.

Impermax is renowned as the only platform that allows Liquidity provider tokens as collateral security for automatic loaning of capital. Thereby, it ends the risk of any temporary financial setbacks for the providers of liquidity. Furthermore, debtors will gain an added advantage on this decentralized finance hub. It is the only platform that sanctions 10 times or more leverage on the borrower’s situation while ensuring that the risk of liquidation is as minimal as possible. This is a very crucial advantage, as the traditional lending platforms usually compel the loan takers to keep as collateral over 300 percent of the amount they have borrowed initially on an average basis. This increases the risk of the situation. Impermax‘s conditions come as a relief for these borrowers. The collaterization model will ensure that the debtor’s security incurs lesser risk with zero default for the loaner and higher leverage for the capital providers.

The smart contracts issued by the Impermax protocol are employed to invest the borrowed capital for purchasing and locking in more Liquidity Provider Tokens, which can be used to gain a second-layer loan, the funds from which can be used to purchase another loan, and so on.

Simone Rigolon, the owner-founder of Impermax, expressed her anticipation for working together with the SX Network since the ever-expanding DeFi ecosystem of SX will also boost the growth of Impermax.

Jason Palmer

Jason Palmer joined CoinNewsSpan as an editor and analyst. He has over five years of experience as a forex analyst. He holds a master's degree in business administration with specialization in finance. He is actively involved in analyzing the prevalent crypto trends. He has a keen interest in commodities and forex trading.

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