Blockchain
MEZZ Launches Bidding-Backed Collateral Extension for DeFi
Saint Kitts and Nevis, Basseterre–(Newsfile Corp. – March 8, 2023) – MEZZ, a smart contract protocol, has launched a DeFi platform for users to engage in acquisition and liquidation of NFTs and other crypto assets through bidding-backed collateral extension. This unique approach is aimed at solving the liquidity problem in digital asset trading and acquisition. This way, users can acquire specific cryptocurrency assets without having all the necessary liquid assets available, to meet the needs of a rapidly changing market.
MEZZ
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With the MEZZ platform, the acquisition of an NFT or other crypto assets functions as the target acquisition in analogy to mezzanine finance, with an undercollateralized buyer being supported by the mezzanine financier to complete an acquisition.
At its core, users can take advantage of current market pricing and gain access to funding from other users by creating deals for specific ERC-1155, ERC-721, or ERC-20 tokens, known as “Target Assets”, without needing all the required liquidity immediately. An ETH down payment is provided by a user (“Maker”) who is creating the deal, and, if another user (“Bidder”) accepts the Maker’s deal, the Bidder will provide the remaining ETH balance for the purchase.
Furthermore, users can create deals based on their specific needs. As a result of this flexibility, traders can simultaneously take advantage of the down payment asset and the target asset that is being acquired.
Makers can create deals using MEZZ by specifying: the target asset; the amount of ETH they are willing to deposit as a down payment; the annual interest rate on the remaining ETH; the expiration date; and the payback duration.
MEZZ Token
The MEZZ token is the utility token of the MEZZ platform. The token serves several purposes across the platform including fee reductions and deal assurances.
After a deal has been created, bidders can accept the native token by providing the remaining ETH needed for the purchase. After the transaction has been executed, a MEZZ contract holds the Target Asset in escrow until the Maker repays the borrowed ETH plus interest. If the Maker does not repay the ETH within the set payback period, the deal is considered to be in default, and the bidder can claim the target asset and any MEZZ offered as a deal assurance.
On the MEZZ platform, Makers can cancel, update, or reactivate their deals prior to it being accepted by a Bidder. Alongside being fair and secure, the platform ensures that all parties involved in a deal are protected and that the Maker’s terms are followed. Basically, participants can access funding from other users to buy digital assets without needing all of the upfront liquidity.
About MEZZ
MEZZ is a smart contract protocol designed to solve the liquidity problem in digital asset trading and acquisition. The DeFi platform is developed for users to participate in acquisition and liquidation of Non-Fungible Tokens and other crypto assets through bidding-backed collateral extension.
Social Links
Telegram: http://t.me/mezzcommunity
Twitter: https://twitter.com/MEZZTOKEN
Official website: https://mezz.world/
MEZZ Dextools: https://www.dextools.io/app/en/ether/pair-explorer/0x43618d01979b0db3df71d1e7e504654943fa7530
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/157683
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This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
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The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
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For more news like this, check out all of the latest finance-related releases from PR Newswire.
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