DeFi Platform Collective Finance Launches $CLF Token on Binance Chain

Photo by Shubham Dhage on Unsplash

Collective Finance, a decentralized finance (DeFi) platform, has revealed its intentions to begin the public sale of its own native currency, denoted by the symbol $CLF, and developed on the Binance Smart Chain (BSC) network.

The public token sale can be accessible with a 10% discount, as stated in a press release (1). Β This sets a generally lower barrier for more inclusive community engagement.

When it involves investing in multilayer, yield-generating prospects, the Collective Finance protocol was established as an inventive outfit that gives access and participation. Its primary purpose is to provide extensive exposure to digital commodity representation.

Collective Finance is optimistic that the token sale will help fast-track its growth across the board, even as it works to carve out a specific place for itself in the rapidly expanding world of decentralized Finance that exists today.

Collective Finance has stated that it has raised a total of $500,000 since the company’s start and that this sale is a way to offer access to more individuals as it works to put its goods into existence.

To participate in the Public sale, a minimum investment of $50 is required, and the maximum amount that may be raised is $500,000.


A Kind of Pre-Sale That’s Not Like the Others

A liquidity token that may be utilized to take part in governance processes will also be airdropped in addition to the primary token. This is one of the many ways in which the CLF token sale stands out from others in the cryptocurrency ecosystem.

According to the protocol, this difference can be seen in the fact that a liquidity token will be distributed alongside the main token.

The liquidity token, which has been given the name BTCB, is intended to give its holders the ability to make use of the primary resources provided by the Collective Finance platform.

Despite significant expansion over the course of the past few years, traditional money still has a number of advantages over decentralized Finance.

It is possible for participants in traditional Finance to hold and gain exposure to commodities such as gold, silver, and oil; however, there are stringent limitations, exorbitant costs, and limited ways to actually generate passive income from such assets, according to Collective Finance Crypzom-Zachary.

He also mentioned that Collective Finance wants to deliver on the same by offering C-Tokens, which represent a tradable, asset-backed, over-collateralized commodity with direct yield-earning potential.

He continues: β€œWe can help get the ball rolling by providing widespread access and inclusion to our suite of products and services as well as our powerful DeFi tools. This will allow us to open up multi-layered, yield-generating opportunities and expose as many people as possible to digitized commodity representations.”


The use of Collective Financing to Provide More Motivation

Participants in Collective Finance’s Public Token sale will be able to obtain access to free liquidity tokens, according to the company, and will also have the option to mint a limited edition NFT, according to an announcement made by Collective Finance.

Users will be required to make a deposit in the pre-sale of $1,000 or more and lock their position inside the Collective Finance locked-staking system within 7 days to take part in the NFT minting offer. Users can lock their position within any of the available tiers.

Per the statement, investors can get one Limited Edition NFT for every one thousand dollars they lock up.

Participating in the Public sale can be obtained by utilizing the Collective Finance DApp and proceeding to the Pre-sale Tab before the sale begins. When the project debuts in its entirety in April, the CLF and BTCB tokens will be distributed as an airdrop.

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