We're excited to be working with strong and technically-minded teams like BitMax, who will deliver unique integrations for its users, leveraging our ecosystems.
DUBAI, United Arab Emirates (PRWEB) October 28, 2020
DeFi Money Market (DMM)'s governance token, DMG, is now listed on global digital asset trading platform BitMax. The listing expands access to DMG for yield farming and participation in DMM's DAO to make governance decisions. BitMax and DMM are working to introduce DMM's mTokens into the BitMax ecosystem to allow anyone to mint mTokens, which enable the generation 6.25% interest per year on any digital asset. DMM is able to achieve this positive and stable APY by backing mTokens with real-world, income-generating assets like aircraft, car equity loans, and real estate. Future integrations with yield farming are also in the works.
George Cao, CEO of BitMax, said, "We are pleased to add DMG to our listing to further support our users in participating in the fast-growing DeFi space and value-generating opportunities like their stable, uncorrelated yield and yield farming programs."
"With DeFi users now surpassing half a million and attention being paid by mainstream finance due to the extraordinary returns being generated, DeFi is poised to take the next leap into the mainstream," said Gregory Keough, Member of the DMM Foundation, the organization behind the DeFi Money Market (DMM). "As access to governance tokens like DMG improves through expanded listings, so will the number of people benefiting from all the advantages DeFi has to offer. We're excited to be working with strong and technically-minded teams like BitMax, who will deliver unique integrations for its users, leveraging our ecosystems."
DMM aims to close financial inclusion gaps by bringing earned interest back into the global monetary system by enabling anyone to earn a stable 6.25% APY on deposited funds (currently ETH, DAI, USDT and USDC). Ownership of DMG gives users a seat at the table in the DMM DAO and the ability to vote on governance decisions, such as introducing new digital assets to earn yield upon or changes to the interest paid out.
"This is how we transform finance," said Keough, "by giving users the keys to the systems that manage their value."
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About DeFi Money Market (DMM)
DeFi Money Market (DMM) is a novel digital currency ecosystem that solves the dual problems of currency debasement and the near-impossibility of earning interest with its DeFi protocol that empowers anyone to earn a positive yield (interest) on digital assets. DMM enables a stable 6.25% APY to be earned on deposited funds (currently ETH, DAI, USDT and USDC). DMM tokens help fight inflation because they are based on real-world, income-generating assets, such as aircraft, vehicles, and real estate. Decentralized governance via the DMM DAO ensures the highest transparency and accountability. Since the protocol is permissionless, anyone with an internet connection can mint mTokens and tap into a financial instrument that enables greater financial freedom and inclusion for all. DMM is backed by well known VCs Draper Goren Holm, a blockchain venture studio and fund created by Tim Draper, Alon Goren and Josef Holm, as well as Collaborative Fund.
BitMax.io (BTMX.com) is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust product design ranging from innovative volatility products to margin trading and other investment solutions.