MENSA, the native token of Mensa Protocol – a decentralized lending platform, joined the bull run with a 207% gain in 24 hours!
Mensa Protocol (MENSA) has risen sharply in one day and looks set to continue its growth. Decentralized finance (DeFi) tokens are trending well right now and MENSA seems to be leading the way. It could be a solid bet for investors looking for a new token. The rise in value of MENSA is just beginning and the token could double from here if the momentum continues. The MENSA token is trading at $1.15 at the time of writing this article.
Where and how to buy Mensa Protocol in France and elsewhere?
You will need a trading account to be able to buy crypto-currencies. To open an account, simply click on the “Join now” or “Sign up” button on the selected platform and provide a username, password and email address. Most reputable platforms will also ask you to complete a Know Your Customer (KYC) process to verify your account. At this point, all you need to do is fund the account and start trading.
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What is the Mensa Protocol?
Mensa Protocol is a decentralized lending platform that allows users to borrow or lend multiple crypto-assets with ease. The MENSA token is used within the ecosystem as a recurrencynse and also for governance purposes. The maximum supply of tokens is set at 200 million tokens.
The protocol is built on the Fantom blockchain and allows for staking of MENSA tokens while penalizing early withdrawals through a capital gains tax. The protocol also rewards holders through various redistribution mechanisms.
The DeFi space is currently crowded, but MENSA claims to make the process easy for its users. The penalty of a short-term fee might encourage users to stay committed to the platform for a longer period of time.
Should I buy MENSA today?
MENSA is currently enjoying a strong price increase and early adopters can expect a further doubling of prices from current price levels. The chart below shows a strong rise in MENSA, fueled by bullish momentum. The price is still low compared to other popular tokens in the DeFi space. So MENSA could be a good bet for investors looking for a new innovative DeFi platform.
MENSA daily chart. Source: CoinMarketCap
This article is for informational purposes only – none of its contents should be construed as financial or investment advice.