The FIN token will be used to redistribute profits on the DeFiner network, provide proof of premium for lending and borrowing assets, and represent voting rights for users
MINNEAPOLIS, Sept. 29, 2020 /PRNewswire/ -- DeFiner, the decentralized finance (DeFi) network for crypto savings, loans, and payments, has announced the launch of 'FIN', the network's native token. The FIN token is a fully audited ERC20, Ethereum-based, cryptographic token that connects the entire DeFiner ecosystem.
FIN will have three primary uses - profit distribution, voting rights, and proof of premium. DeFiner will redistribute profits collected on the platform back to FIN token holders, including any transaction fees and interest. The FIN token also represents voting rights for holders, with one token equalling one vote on the network, empowering users to control the development of the platform. Lastly, the FIN token acts as proof of premium on the platform, with users being rewarded in FIN for lending capital and collateral on the network.
Jason Wu, CEO and Co-founder of DeFiner, said, "The launch of the FIN token is the next, highly-anticipated step in our mission to drive the mass adoption of DeFi. This year has brought with it an unprecedented surge for DeFi, with assets under management having broken the $10billion USD mark in recent weeks. As DeFi heats up and attracts support and investment from mammoth players in the financial world, DeFiner is working to ensure universal access to the innovative solutions coming out of the DeFi space."
The FIN token is currently available to community members on CoinList, where DeFiner is hosting a Private Sale in order to give members of its existing ecosystem access to the token. FIN is available through the token address provided by DeFiner, which is also available on the DeFiner website. This official token address is the only point of access for the FIN token, which has been fully audited by Taka Security in compliance with the ERC20 token standard.
The launch of FIN comes as DeFiner engages in a Seed funding round, with recent investments from Signum Capital, Alphabit, and SNZ Holding. DeFiner is preparing for the upcoming launch of its DeFi savings product, which is designed to allow users to earn interest on their stored assets.
Wu concluded, "As the user base for our lending product grows exponentially and as we prepare our community for the launch of our DeFi savings and payments products, we are connecting our suite of products through the FIN token. This token allows us to distribute profits to users, to give our users voting rights to have their say in the direction of the platform, and to be rewarded for engaging with DeFiner's lending solutions - all in the true spirit of decentralized ownership. We are empowering retail users in a truly fair, secure, decentralized financial ecosystem."
For the FIN token address, click here.
About DeFiner
DeFiner is a decentralized finance network for crypto savings, loans, and payments. Powered by blockchain technology, DeFiner's decentralized financial (DeFi) platform enables users to effortlessly lend, borrow, and earn digital assets within a global network. DeFiner removes the friction and costs associated with conventional financial services and instead offers maximum flexibility to set one's own rates and terms. DeFiner also removes the need for third parties from its financial ecosystem by using an immutable blockchain to track all loans and transactions, providing ultimate security for users. By offering 24/7 global accessibility with significantly lower costs than traditional finance, DeFiner allows those embracing the new, digital economy to unlock instant value from their assets.
For enquiries, contact support@definer.org
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