Multiplier (MXX) is a non-custodial lending platform that allows users to borrow, lend, or receive yields in cryptocurrencies. A non-custodial platform allows the users complete control of their private keys. Multiplier aims to harness the power of decentralization to make financial transactions easier for the users. Multiplier is a fork of AAVE and runs on Binance Smart Chain.

The litepaper describes the platform as a market system that runs on a specific algorithm. Algorithms are instructions delivered to a computer to accomplish a task.

According to the whitepaper, Multiplier employs a particular contract called the Simplified Stable Bond or SSB. The SSB is a simplified version of a smart contract that helps manage transactions on the network. MXX is a utility token in the Multiplier network, with special features for liquidity and governance.

The platform seeks to allow minting of MXX through transactions, thereby enhancing the liquidity on the network. Multiplier plans to provide minting options to token holders for creating SSB contracts for a particular asset on the platform. Multiplier also aims to burn a part of the transaction fee to reduce the maximum supply of MXX tokens.

Token burning is the process of removing assets from circulation to regulate the value and control the circulation numbers. The platform aims to release 2.5% of MXX from the total supply every three months.

Multiplier aspires to use simplified and secure contracts to become a leading decentralized lending market.

The launch and the conceptualization of Multiplier were in 2020. Multiplier Finance is a DAO, and the litepaper mentions nine council members as the team currently responsible for the platform. The token’s total supply is 9,000,000,000 MXX.

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