Decentralized lending platform, Agile Finance Finally Launches its Token Presale, AGL

Decentralized lending platform, Agile Finance announced the launch of its private token sale starting this November. The token sale aims to boost user engagement and raise funds for the development of the platform to offer the best lending service among the current decentralized exchanges (DEXs).

Agile Finance is an algorithmic and autonomous interest rate protocol built for developers to unlock a universe of open financial solutions. The platform is the first-of-its-kind DEX offering users a direct DEX swap that allows users to create liquidity pools, provide liquidity, borrow and lend assets through smart contracts. The platform is governed through the Agile token, or AGL, which is set to launch through a presale in mid-November.

According to a statement, AGL will have a maximum capped supply of 1 billion tokens, with 100,000,000 AGL available during the presale launch. The token will have an initial market capitalization of $2.5 million. With only 100 million tokens available for the presale, each token will be purchased at $0.03 compared with the public launch price expected to be $0.05 once it hits the exchanges. The presale will last for 7 days from Mid November after which the public sale will then continue for another 3 days.

Launched in 2020, Agile Finance aims to provide the most stable and efficient decentralized platform. To achieve this, the platform requires a bigger pool of liquidity providers hence the presale initiative. Simply put, more users and liquidity providers on the platform create a more stable and secure platform while strengthening the value of AGL tokens. Based on Cronos chain, an EVM compatible chain, the platform lowers the fees and provides higher security which welcomes more participation from users.

The upcoming AGL offers users a host of advantages on the Agile Finance platform. First, users can use the token to create a secure lending platform where lenders receive a compounded interest rate paid per block while the borrower pays interest on the cryptocurrency borrowed. Users may supply various cryptocurrencies and digital assets, which will be used as collateral for loans and in return earn a high APY from the LP. The interest rate is paid on a variable basis depending on the yield curve utilization of the digital asset market.

Users can also use the AGL token to borrow assets from the liquidity pools. Those wishing to borrow from the platform need to lock-up assets, which will be used as collateral, allowing users to borrow up to 60% of this amount. Agile Finance platform charges a compound interest rate applied per block on the borrowed asset while users hold no monthly payment obligations.

Additionally, the AGL token will be used for the governance of select protocol features and proposals to support the full decentralization of the platform. Finally, the token can be used to purchase and bid for NFT collections. The platform includes ERC721 and ERC1155 assets including art, censorship-resistant domain names, virtual worlds, trading cards, sports, and collectibles.

To start borrowing, users are required to open an account with Agile Finance using their Metamask, Trust Wallet or Wallet Connect wallets.

In the future, the platform aims at listing on several centralized exchanges including Binance, Crypto.com, and Coinbase. Notwithstanding, the platform is working on achieving cross-chain compatibility and interoperability between different blockchains.