---
description: >-
  Magnify Cash is a Decentralized Credit Market that supports lending in any
  currency, against any collateral, on your own terms.
---

# Welcome to Magnify Cash

### What is a Decentralized Credit Market (DCM)?

A Decentralized Credit Market is a permissionless and non-custodial protocol that allows lending and borrowing with **any** onchain asset.&#x20;

## Bottlenecks in Existing Lending Protocols

* **Centralization & Governance:** Lending desks are owned and governed by the protocol, requiring lenders and borrowers to get permission to whitelist new currencies and collateral.
* **Manual P2P Lending:** Current lending desks requires constant management, such as re-adding liquidity after loan repayments. This creates a window for competing lenders to absorb demand.
* **Risk Exposure:** Existing protocols rely on oracle data and/or shared liquidity pools. Oracle risks include false or unavailable data (i.e. price feeds), network congestion, and outsourced node management. Shared liquidity pool risk comes as a result of giving up custody of funds to a protocol that may be prone to hacks/exploits.

## Our Solution

By combining **universal collateral acceptance** and **universal lending currency support** into a **non-custodial** and **permissionless** protocol, Magnify Cash has created an attractive solution for a truly free and decentralized credit market.

* **Universal Collateral Acceptance:** We automatically support all borrowing collateral types (ERC-721s and ERC-1155s), broadening the spectrum of assets that can be financed.
* **Universal Lending Currency Support:** Our platform allows for loans in any ERC-20 token, removing the currency limitations present in existing solutions.

When you create a lending desk on Magnify Cash, you own they keys to your desk so that you never give up custody of your assets. With our pool-based lending and fully automated, fixed-term loan issuance, we're not just participating in the market—we're redefining it.

### Benefits for Lenders

* Minimizes gas fees and streamline the lending process, reducing the number of steps required to initiate a loan.
* Automated lending reduces the need for manual intervention.
* Enables lenders to set terms easily and adjust them dynamically, aligning with market changes.
* Supports lending in any currency, providing flexibility, diversification options and creates more utility for fungible tokens.
* Offers a simplified loan origination process with predefined terms, directing borrowers to a dedicated URL that lenders can share for hassle-free loan initiation.

### Benefits for Borrowers

* Facilitates borrowing in any currency, ensuring accessibility and inclusivity.
* Only provides fixed-rate options offering stability and predictability for borrowers.
* Offers a wide range of customizable options, including loan durations, interest rates, currencies, and collaterals, empowering borrowers to tailor their loans to their specific needs.
* Borrowers can settle their loans at the end of the loan term, offering convenience and flexibility in managing repayments.

## Magnify Cash Incentivized Testnet/Open Beta

The Magnify Cash open beta is live on Base Sepolia Testnet to give our early adopters a first look at what is coming! Our team will be tracking testnet activity for the initial stage of our (TBA) early adopters incentive program.

You can join the open beta and get your first look at our dApp by following the documentation on the [next page!](welcome-to-magnify-cash/testnet-documentation)
