Getting worldwide market access and doing peer to peer transactions without involving third parties while enjoying fast transactions with very low cost are the best features of the transparent, anonymous and trust less decentralized ecosystem of Blockcjhain technology. It has slowly and gradually got its place in the market and then with further technology developments like DeFi & NFTs, has captured the worldwide market and has effectively challenged the prevailing centralized ecosystem which is very dull and slow with lots of third party interference.

With the continuous growth of crypto market, Increasing hype of DeFi applications/protocols and Emerging of lots of NFT projects in the market, that has opened a new door where it seems much beneficial of mutual cooperation and merging of blockchain, DeFi and NFTs in the project’s ecosystem to get respectable position in the market.

What is ETNA Platform?

It all stared with Cyclops Finance platform that is using blockchain technology, created on ETH platform and has developed a revolutionary concept of using NFTs in DeFi earning protocols, and enabling the users to use all the applications and protocols of DeFi world while allowing the users to mint their NFTs and then use them as collateral as well as in staking or yield farming protocols of the platform.

With more congestion and insane hike of transaction costs on ETH platform, the small investors and traders are forced to sacrifice the usage of technology developments as they are not able to transact freely when the transaction speed is very low and fees is very high. To cope up this flaw the innovative project team of Cyclops has modified the ecosystem to provide more flexibility & scalability and has migrated to BSC network. The project is re branded and renamed as ETNA.

Features of ETNA Platform

-Fast and much Economical platform:  

ETNA is operating on BSC network as such this platform is capable to provide more flexibility and much scalability when the other blockchains are straggling in congested market, ETNA with Binance Smartchain is providing fast transactions with very low fees.

-More Transparency & Data Immutability:

ETNA is using blockchain technology and the transactions are executed by the smart chain and innovative smart contracts of the platform where the transaction is executed when certain conditions are met and the nodes of the platform are storing all the executed data on blockchain via blocks. The whole process is done in user’s account and the data of executed transaction is accessible to anyone in a distributed ledger on the blockchain. That also provides the data immutability since the manipulators and hackers do not get the chance to change, alter or destroy the processed data.

-Anonymity and Trustless ecosystem:

When it comes the mater of Financial transactions and real asset transactions, the mutual trust is required with revealing of identities. ETNA platform with its smart contracts is capable to handle all the trust required to execute the transaction as such the users are not required to reveal their identities while doing transactions on the platform. That has created an anonymous and trustless environment where the users can operate freely without being manipulated or any fear of fund lost. The technically advanced smart contracts of the platform will make it sure that the deserving person will receive the funds. That has created a strong trust element on the platform which in turn is increasing the number of end users of the platform.

Lending and Borrowing Application

ETNA Platform is a user friendly platform where the users of the platform are able to lend their assets which are stored uselessly in their wallets. That means the users are able to use the smartcontract feature of the ETNA platfortm and they can put their leisure assets on work to earn some good interest income. Same is the case with the needy parties who are requiring cryto assets to maintain their liquidity and to stabilize their projects as per the market conditions. Lending and borrowing is a very sophisticated term and lots of mutual trust is required while conducting financial transactions. And the best thing with ETNA platform is that it has created a trustless ecosystem and all the required trust is handled by the innovative smart contracts of the platform.

DeBank is the application of the platform that is supporting lending and borrowing feature. It is currently deployed on Binance smart chain as such is able to provide fast transactions with very low cost. It is providing more flexibility and scalability. Data immutability is the best feature of DeBank platform and the innovative smartcontarcts and nodes of the platform together with DeBank application will make it sure that the deserving person will receive the funds without any manipulation or hacking hazard.

DeBank is the first lending application that is allowing the use of NFTs as collateral. The owner o NFT is not required to sell his NFT to collect funds rather he can use DeBank application of the platform and can yield good revenue by lending his NFT. That is really an impressive move by the ETNA platform that has created a real use case of NFTs on the platform.

DeBank application is creating the value and importance of native token ETNA on the platform as such this application is allowing to use ETNA Token as collateral to avail interest free loan on the platform. ETNA token is the base of the platform that is supporting the ecosystem of the platform and because of DeBank application ETNA is getting more hype and acceptance in the market. That is a good move as more end users using ETNA platform means it will create more liquidity on the platform and that is the good for both buyers and sellers as with more liquid platform the transaction are done in a flash and there is a very low variation in price while selling or buying ETNA token.

Further DeBank is allowing the users to do yield farming with ETNA. The process is very simple. Just use the liquidity pool feature of  PancakeSwap and provide liquidity with ETNA and in turn earn high APY That will yield good amount of ETNA tokens and the users are able to increase the number of their ETNA tokens with DeBank application.

DeBank application is currently supports the lending and borrowing of seven tokens/coins namely BNB, ETNA, ETH, BTC, BUSD, USDT, and DAI.

Try out the current version of DeBank at: https://debank-lb.etna.network/

ETNA Networks’ NFTs

NFTs are unique tokens that runs on blockchain and these are known for their scarcity as there is no replica is possible for any NFT and also in a particular blockchain, an NFT can exist only in a single address. That created a much hype and importance of NFTs in the market and art lovers are buying these unique blockchain creations by paying lots of money. ETNA platform is fully supporting NFTs and this platform is the further evolution of DeFi protocol that has merged NFTs in DeFi earning ecosystem. The users of ETNA platform can store their NFTs on the platform, they can lend their NFTs to earn interest income. NFTs can be used to earn passive income on the platform by using them in staking and liquidity mining protocols of the platform.

ETNA is a Gaming platform Built for both game developers and players. On this platform conventional games can be deployed and integrated with the blockchain. This platform has created certain assets that are minted into NFTs. The community members can own such game assets and earn royalties which grows with game popularity.  ETNA Networks’ NFTs are gaming assets that would be deployed in the upcoming game. Currently, there are over 30 NFTs trading on the ETNA Network marketplace, these NFTs comprises of game characters, weapons, secret passages, creatures and many more. 

These NFTs are having special usages in the games and these are the tools that boost the gaming power and enable the player to clear all the obstacles to win the game. The best part with ETNA is the the owner of the NFT can use it as collateral and also able to give it on rent to the needy player who will take the NFT on rent and after using it will give it back with some interest income to owner. There are many pro game lovers that can not afford NFTs to buy but on ETNA platform they can do their needful by using the NFT rent option of the platform.

The characters currently trading on ETNA Network NFT Marketplace are : Apollo, Nyx, Arthemis, Cyclops, Hercules, Mercury, Wukong, Pantara, Osiris and Eagle.

ETNA token

Ticker ETNA is representing the native token of the platform. This token is having various usages on the platform and is the backbone of the platform that is supporting all the applications and protocols of the platform to work effectively.

• The holders of ETNA token can access all the offerings of the platform ans also able to get certain fee concession while executing transactions on the platform.
• ETNA token is supporting the lending feature of the platform where it is providing leveraging feature and also the holders of ETNA token are liable to get interest free loans on the platform by using their ETNA as collateral.
• ETNA token is supporting and strengthening the proof of insurance mechanism of the platform. All the applications and protocols of the platform are well backed and insured by ETNA token. All the generated rewards and interests on the platform are paid in ETNA token. The borrowers are required to add certain amount of ETNA tokens in insurance mechanism to give the fund security and timely paying interest to lenders so that the system will work without and dispute.
• ETNA has its usage in NFT market and has its role as NFT marketplace currency. NFTs are purchased and sold in ETNA token. Also the holders of ETNA token can use the NFT marketplace membership system.
• ETNA platform is a gaming platform that is modified to next level where DeFi & NFTs are combined in gaming zone to provide best user experience and more returns on the platform. ETNA token is the base on which this whole ecosystem is revolving. ETNA token is used as store of value for game assets. In gaming system of the platform there are lots of opportunities to earn good rewards and hunt treasures while clearing the game levels. These earned treasures and rewards can be converted in to ETNA token and then redeemed in fiat currency.

Roadmap

The project team of ETNA platform is having lots of experience in various sectors of blockchain technology and is capable to handle the project with best creation and implementations of future development strategies. ETNA is a self dependent platform and there is no need of external forces to run the platform. The team has enough knowledge and resources to make the project step by step grow and got o the moon. This project has a well constructed Roadmap.

Useful Links to get more Information:

• Website: https://www.etna.network/
• Whitepaper: https://www.etna.network/assets/ETNA.pdf
• Telegram: https://t.me/EtnaNetwork
• Twitter: https://twitter.com/EtnaNetwork
• Medium : https://medium.com/@EtnaNetwork

Author

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