Punk Protocol Announces its Testnet Launching on Kovan Network

SAN FRANCISCO, June 04, 2021 (GLOBE 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.

Punk Protocol Announces its Testnet Launching on Kovan Network 1

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/

Punk Protocol Announces its Testnet Launching on Kovan Network 2
About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 42,314.00
ethereum
Ethereum (ETH) $ 2,853.87
cardano
Cardano (ADA) $ 2.25
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 341.84
xrp
XRP (XRP) $ 0.927516
solana
Solana (SOL) $ 131.45
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.97
dogecoin
Dogecoin (DOGE) $ 0.206461
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,314.00
ethereumEthereum (ETH)
$ 2,853.87
tetherTether (USDT)
$ 1.01
bitcoin-cashBitcoin Cash (BCH)
$ 508.12
litecoinLitecoin (LTC)
$ 149.36
bitcoinBitcoin (BTC)
36.050,26
ethereumEthereum (ETH)
2.431,41
tetherTether (USDT)
0,860490
bitcoin-cashBitcoin Cash (BCH)
432,90
litecoinLitecoin (LTC)
127,25
bitcoinBitcoin (BTC)
30,875.89
ethereumEthereum (ETH)
2,082.43
tetherTether (USDT)
0.736982
bitcoin-cashBitcoin Cash (BCH)
370.77
litecoinLitecoin (LTC)
108.99

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,236 0.07 % 1.56 % 12.49 %
Ethereum2,851.7 0.08 % 2.98 % 16.80 %
Cardano2.250 0.19 % 4.97 % 5.39 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin341.79 0.11 % 4.51 % 16.94 %
XRP0.9263 0.09 % 2.77 % 13.90 %
Solana131.31 0.26 % 7.93 % 22.81 %
USD Coin1.000 0.12 % 0.28 % 0.05 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2064 0.21 % 2.49 % 14.69 %

bitcoin
Bitcoin (BTC) $ 42,314.00
ethereum
Ethereum (ETH) $ 2,853.87
cardano
Cardano (ADA) $ 2.25
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 341.84
xrp
XRP (XRP) $ 0.927516
solana
Solana (SOL) $ 131.45
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.97
dogecoin
Dogecoin (DOGE) $ 0.206461