It all started several months before this but lets start from a new chapter, the Birth of ETNA Network.
It happened mid March, a single idea grew into something bigger… here is where the lightbulb appears in cartoon universe lol, but jokes aside, ETNA Network came into existence then. The mission is to create an all-in-one ecosystem, a single platform of interconnected crypto-type technologies built for both the experienced and the inexperienced.
Currently, ETNA Network is building technologies in DeFi, gaming and NFTs. A brief overview of these technologies is as follows:
A Digital Asset Lending and Borrowing Platform where not only coins and tokens can be used as collateral, but also NFTs, digital lands and more. Yes, holders of valuable NFTs can now take a loan by using such NFTs as collateral, this is indeed a game changer.
A Hybrid Liquidity Protocol DEX where users will have access to hundreds of digital assets. An exchange where the complexity that comes with trading of cryptocurrencies is a thing of the past. With our novel Broker-Buyer-Type (BBT) trading mechanism, users with zero experience will be able to trade with ease.
Gaming platform where conventional games can be deployed and integrated with the blockchain. Built for both game developers and players. With game assets minted into NFTs, community members can own such game assets and earn royalties which grows with game popularity.
The game platform will include a game spot, The Tournament where players around the globe can compete and win great prizes.
With the ever growing trend of NFTs and its use case, there are still some issues that are yet to be addressed. ETNA, is building technologies that will solve some of these issues, these technologies include:
A Dynamic NFT Marketplace where users can buy and sell valuable NFTs on the spot…. yes, you can buy and sell NFTs like you would do for tokens/coins on an exchange. ETNA is able to achieve this by using an approach that has never been used before, an NFT value-lock-in mechanism, simply put, the value of each NFT is equated to some amount of the underlying currency. It is more interesting than it sounds as each NFT trade dynamics is modelled after a geometric price-demand curve. With this holders are certain to enjoy price appreciation and are guaranteed ease of trading back.
A Cross-Chain mechanism which facilitates the transferability of assets across blockchains. This is huge as this will enable the attainment of true universality of NFTs.
As you can see from the brief overview of just some of the technologies been developed, we a not MIA :) Instead, we are redefined to set to new standards, a pacesetter of the future of these technologies.
How far so far?
DeBank which is ETNA’s Lending/borrowing platform has been deployed on BSC. It currently supports the lending and borrowing of seven tokens/coins namely BNB, ETNA, ETH, BTC, BUSD, USDT, and DAI. It also supports the deposits of all ETNA NFTs and users can already use such NFTs to take out loans.
ETNA’s DeBank also allows holders of ETNA tokens to take out interest-free loans always. This is also the first of its kind in the crypto space.
As of the time of writing this article, over 4,500,000 ETNA and over 2000 NFTs have been deposited. Also, over $200,000 in interest-free loans have been taken.
ETNA’s NFT Marketplace v1 has also been deployed. It currently supports the buying and selling of over 30 NFT game assets. Since deployment on BSC few months ago, over 5000 NFTs have been minted.
In the following weeks and month, ETNA Network will be deploying a handful of updates as features, we are also working on listing on more exchanges.
If you would like to stay informed, here are some important links:
Telegram group: https://t.me/EtnaNetwork
Telegram channel: https://t.me/EtnaChannel