Multi-Chain (Lend) bringing Flash Loans to Binance Smart Chain
Multi-Chain (Lend) protocol is a complete algorithmic money market protocol, allowing users to lend and borrow a diverse range of cryptocurrencies using both stable and variable interest rates.
The protocol designs are architectured and forked based on Aave, with notable distinguishing features such as increased revenue-sharing for token holders, lower rates for flash loans, and quicker transactions with lower gas fees due to the architecture of the Binance Smart Chain.
As it stands, Multi-Chain (Lend) will be the first to launch Flash Loans on Binance Smart Chain.
Flash Loans require zero collateral to execute and simply relies on the timing of the loan’s repayment. The Flash Loan is approved if it is used and paid back in full within the same block it was issued.
However, if the loan is not paid back within the same block, the entire transaction fails and the user is only liable for gas fees incurred. With gas fees of about 1 cent on Binance Smart Chain, this enables users to actively experiment with Multi-Chain (Lend) Flash Loans.
Multiplier will charge a 0.06% fee on successful Flash Loans, providing a steady revenue stream which is distributed among token holders.
Flash Loans open the doors for safe and secure arbitrage opportunities at virtually no cost to the user, and lay the foundation for innovative new applications in decentralized finance.
Stay tuned for continued updates on Multiplier’s progress.