At Magnify Cash, we believe that financial opportunity should be built on trust, growth, and second chances.

Today, we are excited to announce the Default Forgiveness Program — a limited-time initiative to help borrowers with outstanding V1 and V2 loans repay their $10 loan, clear their history, and unlock new borrowing opportunities in Magnify Cash V3.

If you had a loan from earlier versions of Magnify, this is your opportunity to rebuild your credit profile and rejoin the future of decentralized finance.

The Default Forgiveness Program is available until May 13, 2025.
After that, a 15% defaulter fee will apply to any repayments.

🔄 Why We Are Launching the Default Forgiveness Program

In the early versions of Magnify Cash, every borrower started with a $10 test loan to build their first credit footprint.
We understand that some users missed repayments — and now we want to offer a path to make it right.

By giving V1/V2 borrowers a clear way to repay and rebuild, we strengthen the entire Magnify ecosystem:

• More verified, active borrowers
• Lower risk for lenders
• Higher growth for the Magnify community

Everyone wins when real users get a second chance.

🛠 How the Default Forgiveness Program Works

1. Repay Your $10 V1/V2 Loan

Open the World App, navigate to Magnify Cash, and you will see a prompt to repay your outstanding $10 loan (plus a small or waived defaulter fee, depending on forgiveness settings).

Note: Borrowing from V3 pools will only be possible after full repayment.

2. Mint Your V3 Credit NFT

Once you have cleared your loan, you can mint your new V3 Credit NFT — your updated onchain credit profile.

This NFT allows you to:

• Access Magnify Cash V3 vaults
• Unlock tiered loan growth opportunities
• Start rebuilding your credit history transparently

3. Rebuild Your Borrower Score

Repay your first new V3 loans on time to upgrade your credit tier.
Higher tiers mean:

• Larger borrowing limits
• Lower loan fees
• Priority access to better financial products

🚀 Why You Should Repay and Rebuild Now

✅ Clear your record and rejoin Magnify Cash
✅ Access bigger loans and better terms over time
✅ Earn an onchain verified credit history tied to your World ID
✅ Unlock future opportunities across Web3 and decentralized finance

Your second chance starts with just $10 — but only if you act by May 13, 2025.

✨ Example: How It Works

Scenario:

• You had a $10 loan from Magnify V1 or V2 but missed repayment.
• During the forgiveness window, you repay the $10 (plus little to no penalty).
• You mint your V3 Credit NFT.
• You regain access to V3 pools.
• After a few successful repayments, you move up to higher credit tiers with larger loans and better terms.

🔥 Important Details

• The Default Forgiveness Program runs until May 13, 2025.
• Borrowers who repay during the forgiveness window can clear their loan with minimal or no penalties.
• After May 13, 2025:
  • Borrowers can still repay their V1/V2 loan.
  • However, a 15% defaulter fee will be automatically applied to their repayment.
• Repayment must be completed inside the World App.
• Only borrowers who fully repay can mint a new V3 Credit NFT and unlock future borrowing opportunities.

📅 Timeline Summary

🏁 Ready to Rebuild Your Future?

👉 Open Magnify Cash inside the World App
👉 Repay your $10 V1/V2 loan before May 13
👉 Mint your V3 Credit NFT
👉 Start borrowing and building your future onchain

The door is open — but only for a short time.

Your second chance is waiting.