Annex Finance is a lending and borrowing platform based on Decentralized Finance (DeFi) that attempts to bridge the gap between existing lending platforms and DeFi. Annex Finance understands the inefficiencies and difficulties associated with existing centralized financial systems and is working to develop a better solution by using the power and flexibility of DeFi.

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Introduction

The use of blockchain in decentralized finance has resulted in a tremendous amount of variety in the crypto-financial arena. For new users, this may be quite intimidating. In order for the concept to be widely embraced, the Defi space must be user-friendly and secure across the network. 

In conventional financial lending systems, a borrower must offer credit or verifiable income to a lender before lending funds are considered. Annex Finance attempts to alleviate this friction in the traditional lending system by employing digital assets and cryptocurrencies as collateral that can be pledged and utilized to generate interest.

Annex finance is not the first decentralized financial platform to try to bridge the gap between traditional lending platforms and blockchains. Annex Finance benefits from the lessons learned from these previous initiatives, resulting in a much-enhanced platform.

Annex Finance will be the first to provide a DEX swap, allowing users to produce LP and liquidity themselves in order to get high APY returns and boost ANN price/volume while also letting users borrow and supply assets using smart contracts.

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Features

To enforce the project’s commitment to the benefit of the community. Annex Finance will be launched with the following:

  • BEP20 tokens swap & Liquidity Mining.
  • Borrowing cryptocurrencies and stablecoins with collateralized lending through the Binance smart chain network.
  • Supply cryptocurrencies and stablecoins and earn variable APY for providing liquidity to the protocol.
  • Borrow stablecoins from supplied collateral.
  • With ANN, the first liquidity source will get an exceptionally high APY. Annex Finance will have a time lock system to manage the value of funds. Users will be able to pick a lock-up time; the longer the assets are locked, the greater the ANN APY will be paid out.
  • Securing native LP enables users to earn a high APY in exchange for supplying liquidity to the system.
  • The ANN token will serve as a governance token for the community, as well as a support token for any future projects.
  • The project token will be distributed with an initial distribution quantity of 50,000,000 tokens, with a total restricted supply of 1,000,000,000 tokens released during the duration of the platform’s growth.
  • Their liquidity will be managed by smart contracts, and only stakeholders will have access to their own money. A security audit will be conducted as quickly as feasible to provide investors with peace of mind that all money is secure.

Product Utilities

Annex Auction

Annex Finance has pioneered a new mechanism of onboarding projects to the AnnexSwap exchange. Annex Auction is a set of ready-to-launch open-source smart contracts designed to assist projects in launching on the AnnexSwap exchange by increasing the desirability of the ready-to-launch token.

This function has a lot of advantages for both the new project that is about to start and Annex Finance. “The primary feature of Annex Auction is that it offers Initial Liquidity Providers for new listing tokens at low rates and keeps the auction token price higher than the listing price,” according to Annex Finance’s Whitepaper.

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Annex Lending

The Annex Lending protocol has developed a collateral token known as aToken. According to the Annex Finance Whitepaper, “aTokens represent the unit of the collateral given, may be used as a redemption mechanism, are produced and executed by Governance procedures, and are voted on by Annex Token holders.”

Users of Annex Finance will be able to provide supported crypto assets to the platform, which may be utilized as collateral against loans, supply liquidation, and capitalizing on the APYs given. Users who have provided Annex Finance with their digital currency will obtain an aToken, such as aBTC or aBNB. The aToken will be used to redeem the provided collateral.

Users who want to borrow supported cryptocurrency from the Annex Finance platform must deposit collateral or aTokens that get locked in the protocol. However, once completed, customers can borrow up to 80% of the collateral value. A liquidation event will occur if a user’s collateral value falls below the collateral ratio level.

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Annex Finance’s Automated Market Maker (DEX)

Annex Finance’s platform will also have an Automated Market Maker (AMM) DEX component, allowing users to trade and mint LP tokens. This will provide active Annex Finance users with the opportunity to earn large APYs while also raising ANN price and volume.

Exclusive yield farming for aTokens will also be possible on the platform. Users may substantially increase their cash by taking advantage of extra chances by utilizing their DEX mechanism. SushiSwap’s code will be used on the platform’s DEX to improve token farming.

NFT Marketplace

Annex Finance will also host a Non-Fungible Token (NFT) marketplace where users will be able to purchase, sell, and swap NFTs. Users will be able to mint NFTs using Annex Finance’s NFT minting tool. Annex Finance’s native token, ANN, will be utilized to bid on for-sale NFTs.

The ANN Token

One of Annex Finance’s most notable features is its native cryptocurrency, the aToken (ANN). The Annex Finance platform will employ the ANN token as a governance mechanism. ANN will provide both liquidity and collateral at the same time. ANN will also have additional use cases, such as the ability to buy and sell NFTs and Auction money.

Automatic Holding Rewards

Aside from usefulness, the ANN token has automatic holding benefits. If users keep ANN tokens for more than 30 days, they will get a 73% APY return with 0,2% daily on their ANN holdings every day after 31st day.

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Project Tokenomics

Tokenomics

The aToken (ANN) will control Annex Finance. ANN will be mintable up to a maximum of 700,000,000 tokens during the loan platform’s development and for providing liquidity to the DEX Swap.

Lenders and Borrowers will be paid with ANN tokens for adopting the Lending Protocol, while liquidity providers will be rewarded for providing liquidity to the DEX Swap. The incentive for ANN token distribution will be valid for six years.

Annex Finance will additionally lock 50,000,000 ANN in a token contract on Ethereum and Binance Smart Chain to reward holders of ANN tokens in personal wallets who have been in their wallets for more than 30 days depending on epochs.

The token will be auctioned out through Annex Auction and DEX exchange, with additional initial distribution supply allocated to project development. Early investors that use the system lock up at this early stage will be highly rewarded with aTokens via the bonus system. Annex Finance token holders can also use the token to vote inside the governance mechanism.

To acquire and bid on NFT collectibles, the Annex NFT marketplace will employ ANN/BNB as NFT money.

ANN will also be used to form an auction pool and pay auction costs.

Tokens Distribution

  • Prior Liquidity Price Speculation Auction (PLPSA) & Side Liquidity: 50,000,000 ANN 
  • LP Pool Mining: 350,000,000 ANN 
  • Governance Mining: 350,000,000 ANN 
  • BSC Holding Reward Pool: 50,000,000 ANN 
  • ETH Holding Reward Pool: 50,000,000 ANN 
  • Governance supply: 30,000,000 ANN 
  • Team and Development Treasury: 120,000,000 ANN 
  • Total supply: 1,000,000,000 ANN 
  • Initial Market Cap: $2,500,000 
  • Total Diluted Market Cap: $50,000,000

Roadmap

Phase 1

  • Whitepaper and Landing page launch

Phase 2

  • Auction Contract launch in BSC testnet
  • Annex Lending and Swap launch in BSC testnet

Phase 3

  • Security Audit for Auction, Lending and Swap contracts
  • Deploy Auction contract in BSC mainnet
  • Launch Auction for ANN ILO
  • Listing ANN in BSCscan
  • Listing ANN in Coingecko
  • Launch Annex Lending in Mainnet
  • Launch Annex Swap in Mainnet

Phase 4

  • Listing ANN in Coinmarketcap
  • Annex marketing in BSC news
  • Annex marketing in Yahoo, Bloomberg, Cointelegraph and Coindesk
  • Start Auction service with multiple types
  • Launch ANN governance
  • Launch Annex NFT marketplace in testnet

Phase 5

  • Expand network in ETH and Polygon testnet
  • Launch Annex AMM & Liquidator bot in mainnet Launch Annex NFT marketplace Build Annex bridge to support ANN in multiple networks
  • Support ETH and Polygon network in mainnet
  • Listing ANN in centralized exchanges

Phase 6

  • Launch Annex bug bounty
  • Launch Annex bridge in mainnet

Official Links

Website: https://www.annex.finance/ 

Twitter: https://twitter.com/AnnexFinance

Telegram: https://t.me/Annex_finance_group

Medium: annexfinance.medium.com/

Github: https://github.com/annexfinance/annex-protocol

Disclaimer

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