RAS AL KHAIMAH, United Arab Emirates, July 14, 2023 (GLOBE NEWSWIRE) -- Enreach, a DeFi project specialized in funding receivables of real-world companies, achieved a remarkable milestone last week as it surpassed over one million staked NRCH tokens. This achievement speaks volumes about the company's growing influence and the stability of its native cryptocurrency, NRCH.
Despite harsh bear market conditions and consequent price action in the last year, the NRCH token stabilized around $1.5, resulting in a $3.2 million market cap. With a reported inflation rate of 0% for the last several months and almost 45% of the circulating supply staked, NRCH tokenomics are shaping a stable and non-dilutive asset with substantial potential for upside in the following quarters.
Enreach founder, DeFiKash, is confident that the rest of the year will bring big news for NRCH holders: "We are speaking with telecom relationships to see if they will accept USDT against acquired invoices. If our partners accept this course of action, we can move relatively fast in supporting this liquidity advance with vaults on Yaggr for the funded invoices."
The Enreach team is currently developing non-essential infrastructure that will support all business operations and enhance the quality of the user experience once negotiations with partners are complete and receivables funding starts circulating through the Enreach yield aggregating platform - YAGGR. "The company's strong community support, reflected in this latest milestone, is a huge validation but also an obligation to our community. We will continue to work hard to deliver the best user experience and onboard debt funding markets on our Yaggr platform!" said community manager Coinsigliere.
On any given day, firms in the US are owed $3 Trillion in trade receivables. By combining tokenized receivables with its blockchain interoperable technologies, Enreach will open up trade credit markets to greater efficiencies and transparency.
Mr S. Khan