Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 4 June 2021, 21:00 HKT/SGT
Share:
    

Source: Punk Protocol
Punk Protocol Announces Its Testnet Launching on Kovan Network

San Francisco, CA, June 3, 2021 - (ACN Newswire) - Punk Protocol, a decentralized annuity protocol, announced its testnet launch on Kovan network on Friday, May 28th. Punk Protocol is the world's first DeFi 401k (a representative pension plan from the United States) with optimal strategies to generate high yield.

According to the OECD's report - PENSION MARKETS IN FOCUS 2020, assets in retirement savings plans have exceeded $50 trillion(USD) in 2019. The Total Value Locked in DeFi market reached over $157 billion(USD) in May 2021 (source provided - DefiLlama). With over 4,000 cryptocurrencies ushering in the explosive wave, there was no such product as decentralized pension or annuity until Punk Protocol is introduced.

Punk protocol is operated by a decentralized autonomous organization(DAO) and signifies the following features: community-led and voting-driven. The protocol is redesigned with a pension-generating format, laying its foundation on vault services. The vault includes services such as Yearn Finance or Harvest Finance. In order to establish a pension-generating structure, Punk protocol utilizes high-yield producing strategies with automated investments to multiple DeFi protocols like Compound.

Through the testnet release, the service will take finalizing steps to stabilize investment strategies and debug all possible errors.

The service will be officially released on its main network after thorough testing and completing its smart contract audit.

The contributors are developing their plans on producing more profitable models to deploy leverage and presenting diverse investment strategies that are resistible in a bear market. Punk protocol launches their product on the Ethereum network and plans to expand its service to other chains, including BSC, Solana, and Polygon, in the future.

Media Contact
Company: Punk Protocol
Contact: Media Team
E-mail: hello@punk.finance
Website: https://punk.finance/

SOURCE: Punk Protocol




Topic: Press release summary
Source: Punk Protocol


http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Latest Press Releases
TopFlower Is Introducing a Perfect NFT Farming Game  
Jan 19, 2022 18:00 HKT/SGT
MyTVchain Announces Closure of $880k Private Seed Round  
Jan 19, 2022 18:00 HKT/SGT
The Crypto Universe Now Has Savage Meme Token: AngryKitty Launches to Set New Rules on the Digital Playground  
Jan 19, 2022 18:00 HKT/SGT
CEFC Financial was Granted the Exclusive Right of Use of the Intellectual Property Right of Animated Characters by Chengdu Dreamtoys  
Jan 19, 2022 16:52 HKT/SGT
Eisai Listed as a Global 100 Most Sustainable Corporation for the Sixth Time  
Wednesday, January 19, 2022 4:36:00 PM
Honda and V2X Suisse Consortium to Advance Vehicle-to-Grid Charging Technology in Switzerland  
Wednesday, January 19, 2022 4:00:00 PM
Honda Signs Joint Development Agreement with SES, an EV Battery Research and Development Company  
Wednesday, January 19, 2022 12:01:00 PM
Spritzer Gives New Life to Bottles as Decorations for Chinese New Year  
Jan 19, 2022 12:00 HKT/SGT
Eisai's Anti-amyloid Beta Protofibril Antibody Lecanemab Selected as the Background Therapy for the Tau Nexgen Study  
Wednesday, January 19, 2022 9:06:00 AM
GCBC is Giving Rare NFT Holders a Seat at the Owner's Table  
Jan 18, 2022 23:00 HKT/SGT
More Press release >>
 Events:
More >>
 News Alerts
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 214 890 4418 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575

Connect With us: