What is Passive Income?
Do you know what passive income is? This income is independent from your daily activities. This includes interest from bank deposits, dividends, rental payments, royalties from intellectual property or patents. This kind of income doesn’t require you to take daily actions (as opposed to a paycheck that you have to earn).
There are many ways to secure passive income. The most common is a bank deposit, however, in this case the yields will be minimal.
We are creating new passive income options for the Multi-Chain Lend (MCL) project community. This means that our project allows your money to make money. You may ask, what kind of money and where does the profit even come from? Let’s find out!
Multi-Chain Lend (MCL) is an algorithmic money market system designed to bring secure and unique lending and borrowing opportunities like flash loans onto the Binance Smart Chain. Let’s keep in mind that DeFi profits from the fees paid by the end user. In the case of lending protocols and capital markets, however, profit is mostly derived from the interest on loans. In other words, the amount of money people are ready to pay to get access to capital constitutes the profit.
In one of the previous posts we compared Multi-Chain Lend to Aave. According to Token Terminal, the amount of interest generated by just the first version of Aave has reached $250,000 per day, and the total profits to $12.5 million. This means that lenders — the liquidity providers — have earned almost $90 million in a year.
With the launch of the upcoming Multi-Chain Lend v2, Multiplier aims to replicate their success with great new features with higher borrowing and lending incentives. Do stay tuned to the v2 launch!
Multiplier will launch MCL v2 by Q3 2021 with new and exciting features!
Website: https://multiplier.finance
Telegram: https://t.me/themultiplierio
Twitter: https://twitter.com/MultiplierMXX
Discord: https://discord.gg/cA3bsPX
Multiplier has been audited by CertiK and Kudelski Security, with 4/7 reputable multi-sig, and with users’ assets covered by CertiKShield*.
