Cyclops Finance: Presenting Etna
What started out as a NFT based gaming platform for a “Cyclops Treasure” game, the Cyclops Finance team is now hoping to venture into the Binance Smart Chain Protocol to provide the users a refreshed, quick and cheaper means of utility.
Starting with a user-friendly Borrowing and Lending platform called Etna.
Cyclops Finance’s BSC DeFi Project: Etna
In the Greek Mythology, Cyclops made their home on Mount Etna, hence the name was a perfect fit for Cyclops Finance’s migration onto BSC. Etna is a Decentralized Lending system that allows users to lend, borrow with ease whilst combining it with a Broker-buyer type marketplace.
Etna’s lending feature allow users to take out collateralized loans at fix interest rates or variable interest rates. Leveraging on ETNA Tokens, users would further be able to fully or partially cancel out interest fees on any active loans. That means, ZERO INTEREST Loans are no longer a dream.
Lending/borrowing feature also allows the use of whitelisted NFTs as collateral for loans.(Feature to be developed in the future)
Etna’s Aim and Approach
Cyclops Finance is currently running on the Ethereum Protocol. However, with High gas fees and slow confirmation times raining on the parade, a venture into the cost-effective and high speed BSC seemed like a no-brainer.
Details of the Native Cyclops Finance tokens are as follows:
With Oxbull.Tech’s assistance, Etna now aims to raise 3,000 BNB (Soft cap 1,000 BNB) worth of funding to aid in staff expansion as well as development in the areas of:
- Platform Rebranding
- Crypto License application
- Integration of payment gateway
- Development of the Broker-Buyer marketplace Hybrid model
- Development of an all-in-one Mobile app/wallet
- Team’s allocation is locked for 2 years, 5% emission quarterly after 2 years
- Partnership and development fund is locked up. Max. of 10% can be emitted at a time and on community vote
- Foundation allocation is locked. Committee is set and community votes for any unlock
- Remaining Pre-sale tokens to be burnt in the event where Soft Cap is not met. Listing will continue to be done, but a a lower Market Cap Value.
Etna’s Current Roadmap Q1 sees the following:
- Token Presale, and migration to BSC
- Listing on DEXs and CEXs
- Deployment of Lending and Borrowing platform on BSC
- Integration of Liquidity-Earn Yield Farming feature
- Leveraging Feature for interest fee reduction/cancellation
- Platform rebranding
- Partnership and Expansion
IDO Approach on Oxbull.Tech
ETNA Presale price: USD 0.08 per Token
ETNA Listing price: USD 0.10 per Token
Listing on the 21st March, 1600 UTC
With an updated approach to Oxbull.Tech’s IDO model, Pre-sale would be categorized into 4 main groups:
Tier 1: Guaranteed
For a Guaranteed participation of the ETNA IDO, Investors would be required to already be STAKING THE EITHER before 0000 Coordinated Universal Time(UTC), 15th March 2021:
- OXB/BNB LiquidityPool with more than 4,000 OXB staked continuously prior to project launch
- OXB-OXB farm with more than 8,000 OXB staked continuously prior to project launch
Will have 9 hours guaranteed buying time on the 20th March 1600 UTC onwards.
Contributions will be minimum 2BNB, Max 20 BNB per address.
Tier 2+3: Whitelisting
Investors currently STAKING a minimum of 4,000 OXB or 2,000 OXB in the OXB/OXB farm prior to listing to be qualified for the Whitelist lottery.
Qualified investors shall have buying time on the 21st March 2021 between 1400–1500 UTC on a FIRST COME FIRST SERVE (FCFS) basis.
Contributions will be minimum 0.5 BNB, Max 5 BNB per address
Shall be allocated on the 21st March 2021 from 1430 UTC on a FIRST COME FIRST SERVE (FCFS) basis.
Contributions will be capped at 2 BNB per address.
Etna’s Whitepaper available here.
Etna and Cyclops Finance’s team are doxxed, To find out more about Cyclops Finance, visit:
- Website: https://etna.network/home
- Telegram: https://t.me/CyclopsFinance
- Twitter: https://twitter.com/CyclopsFinance
- Github: https://github.com/CyclopsFinance
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