We’ve got another exciting DeFi news to share with you today. Brace yourselves as Enable DeFi, a subsidiary of Enreach, gears up to launch Nukem Loans, an isolated lending protocol specifically designed for those high-risk meme projects boasting deep liquidity and large communities.
It’s been quite a journey for the Enable DeFi team. They’ve poured their hearts and souls into this project for a whopping 18 months, going through over 50 iterations to perfect their smart contracts. Their goal? To revolutionize the industry and give projects with passionate communities but limited utility a chance to shine.
Now, here’s where things get interesting. The team has developed a cutting-edge system, leveraging the rebasing ERC-4626 vault standard and non-transferable tokens. They quickly realized the immense potential of their technology. Following a rebrand to Enable DeFi and the establishment of a UAE-based company, they made a strategic decision to launch their protocol’s v1.0 as Nukem Loans, targeting the wild and unpredictable meme coin market.
So, what makes Nukem Loans stand out from the crowd? Well, it all starts with their unique design. They’ve introduced “Debt and Collateral Tokens” that reside right in users’ wallets. When the Debt Token surpasses a predefined liquidation point set by the Collateral Token, automatic liquidation kicks in. But that’s not all! Enable DeFi also developed Swapper, a handy tool that scans liquidity across Automated Market Makers (AMMs) to ensure efficient and secure liquidations. Talk about taking lending protocols to the next level!
Get your calendars ready because the launch date for the NUKEM token is just around the corner in June. But here’s the exciting part: Enable DeFi is going all out to differentiate itself from the typical cash-grab launches in the crypto space. They’ll be utilizing community and team funds (around $350k) to purchase the majority of the circulating supply once liquidity pairs are established on UniSwap (ETH) and PancakeSwap (BNB). Community tokens will be staked for six months and distributed as a fee-bearing sNUKEM token, while team tokens will support market-making activities on centralized exchanges following a 10-day lock-up period.
Nukem Loans not only offers an advanced isolated lending protocol tailored specifically for meme coins but also brings exciting incentives to the table. Both lending liquidity providers and sNUKEM holders will enjoy revenue distribution, creating a win-win situation. With around 80 community members securing allocations totaling $150,000 (or $350k with team funds), Nukem Loans is poised for an immediate market capitalization surge, expected to reach an impressive ~$13 million once trading kicks off.
If you’re ready to be part of the revolution and help rewrite the rules of DeFi lending, Enable DeFi is extending an invitation to pioneers like yourself. It’s time to seize the opportunity and join the movement!
Stay tuned for more updates as we witness the exciting launch of Nukem Loans. The DeFi world is about to be shaken up like never before!
Founded in 2022, EnreachDAO is a revolutionary DeFi platform that puts the power of governance in the hands of the community. The project offers a unique proposition by tokenizing traditional financial assets or the utility of real-world projects on any blockchain. But that’s not all – EnreachDAO also equips token holders and market makers with the necessary tools to deploy liquidity and effectively hedge risks. With EnreachDAO, the possibilities are endless, and the future of decentralized finance is being reshaped.
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- Source: https://techstartups.com/2023/06/07/switzerland-based-enable-defi-to-launch-nukem-loans/
