RAS AL KHAIMAH, United Arab Emirates, July 17, 2023 (GLOBE NEWSWIRE) -- Nukem Loans, an isolated lending protocol specifically designed for MEME coins, is set to deploy a Lending Market for Dogelon Mars (ELON).
Dogelon Mars (ELON) is one of the most successful meme coins inspired by the one and only Elon Musk. With over 12,400 holders on the BNB smart chain, ELON currently has a market cap of $87.5 million, with only $0.08 million of liquidity on PancakeSwap, resulting in a liquidity to market capitalization ratio of approximately 0.000914.
DeFiKash, the founder of Nukem Loans, stated, "ELON has great potential for utilizing all the features Nukem Loans is offering to create a successful lending market on the BNB smart chain for their project. With more than 12,400 token holders and $87.5 million collateral value, borrowers will initially compete for $0.22k worth of loans, while lenders can expect very lucrative yields and potential growth in the addressable market for ELON. As liquidity continues to increase on the BNB smart chain, the "liquidatable" value will correspondingly expand, allowing us to increase the total loan deployment on the ELON market."
"ELON is definitely underrepresented on the BNB smart chain. We see a huge opportunity here, and we are confident that the lending utility Nukem Loans is offering to ELON holders will result in the migration of a substantial amount of tokens and liquidity to the BNB smart chain. Our lending platform will be released on the Ethereum network in a few weeks, but we would like to see an active lending market for ELON on BNB as well, primarily due to the low transactional fees. With no transactional tax applied to each buy, sell, or transfer, we can easily deploy a lending market on our platform," explained community manager Coinsigliere.
"Nukem Loans gives token holders a reason to HODL ELON coin and refrain from selling by allowing them to take loans against their collateral value when needed. The leverage function brings more volume and volatility to token trading, giving more upside potential to the price action. Users can hedge their risk, trade volatility, or earn passive income by using Nukem Loans. This level of utility attracts more token holders and leads to market cap growth," added Coinsigliere.
About Nukem Loans
Nukem Loans, an isolated lending protocol designed specifically for high-risk meme projects with deep liquidity and large communities. After 18 months of dedicated work and over 50 iterations, Nukem Loans has perfected their smart contracts to revolutionize the industry and empower projects with strong communities but limited utility.
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