BEIJING, CHINA / ACCESSWIRE / August 16, 2021 / Phoenix Finance, a leveraged token and derivatives platform formerly known as FinNexus, has officially announced the relaunch of its protocols on Polygon and Wanchain. The relaunch includes a new UI, brand revamp, and gradual deployment of the respective chains between August 9 and August 23, 2021. The first chain to be deployed will be Polygon on August 9th, with Wanchain soon after.
The relaunch event also includes important events for existing and new Phoenix Finance community members, including new staking opportunities and additional compensation for liquidity providers on the previous platform. The new protocol launches will include options and leveraged tokens, with a mining and staking mechanism to promote a stable environment for future growth. The one exception is Wanchain which will not include leveraged tokens initially.
The relaunch will also include various mining pools across chains, with users enjoying the opportunity of boosting their rewards by locking PHX or cPHX tokens. Incentives are not capped when it comes to the amount of PHX that can be staked.The more an investor stakes, the longer the lock period, and the higher the rewards. Rewards will range from 1000 to 6000 cPHX tokens per day depending on the chain and pool being accessed.
Phoenix Finance Co-Founder Ryan Tian says, "This relaunch marks an important milestone for the Phoenix Finance team and existing FinNexus community. Together, we have overcome significant challenges to prove the importance of decentralized financial instruments in this market and demand has never been higher. Our commitment to our community will continue with innovative incentive programs, transparency, and future products that reflect demand."
Users will be able to leverage BTC, ETH, USDC, and USDT as collateral for options and leveraged token pools to mine. For more information about Phoenix Finance's relaunch, please visit the company's website and official social media channels.
About Phoenix Finance
Phoenix Finance is the ultimate protocol suite for trading decentralized financial instruments. While Phoenix Finance aims to be a marketplace of various derivatives and hybrid decentralized and traditional financial products, the platform is most notably known for its work in DeFi options and innovative approaches to incentivizing users within the platform.
SOURCE: Phoenix Finance