EasyFi Lending Protocol Goes Live with Money Markets on Polygon
The common layer 2 digital property lending protocol, EasyFi Network has introduced that it’s now reside with its lending protocol on Polygon. The new lending protocol went reside on Nov 15, 2021 and can be initially supporting six cash markets with supplying and borrowing on Polygon Network.
While saying the newest growth, COO and Co-founder of EasyFi Network Anshul Dhir mentioned,” Six cash markets on our protocol on Polygon Network are actually open for operations. We have now accomplished a serious milestone in our This fall 2021 roadmap that of Full protocol launch. We have launched the markets first on Polygon Network and can be quickly adopted with launch of markets on Binance Smart Chain and different networks.”
In order to make sure the protection and safety of its userbase, EasyFi Network has carried out lots of groundwork main as much as the launch. The protocol has been subjected to a full safety audit by one of many main cybersecurity companies — Halborn Security. The train Included evaluation and testing of the challenge’s good contracts by means of nearly all doable eventualities to make sure compliance with world safety requirements. In addition to the exterior audits, EasyFi continues to hold out its personal inside audits to determine areas of concern and implement corrective and danger administration actions.
The exhaustive listing of inside audits consists of penetration testing, vulnerability assessments and DDOS simulation exams.
EasyFi’s lending protocol on Polygon will at the moment listing the next property as collateral markets – $MATIC, $USDC, $USDT, $DAI, $WETH and $WBTC – with extra to be added within the close to future.
Giving extra particulars of the Lending, Anshul mentioned, “The first 6 money markets to be open for the users on our protocol on Polygon are $MATIC, $USDC, $USDT, $DAI, $WETH (Wrapped Ether) and $WBTC (Wrapped Bitcoin). The Company is testing many other tokens as well, which it will add from time to time to enhance the lending markets.”
EasyFi Network is on monitor with its growth roadmap for This fall 2021 as introduced earlier with the total protocol launch. The upcoming token markets on Polygon are reside first, enabling lending and borrowing of risky and steady property on its protocol on Polygon Network. The challenge may even be pushing into going reside quickly with the staked derivatives property as collateral markets as indicated early this 12 months by means of strategic partnerships with a number of the staked by-product tasks like StaFi and RAMP.
These partnerships will bear fruits within the coming days as EasyFi gears to launch extra tokens and staked derivatives property as collateral markets on the protocol. Once the staked derivatives property market is launched, staked by-product tokens can be listed as yield-bearing collateral property on the platform and customers proudly owning these listed derivatives can safe loans in opposition to them. We may even be seeing the protocol going reside with its markets on Binance Smart Chain and growth to different networks as nicely.
Learn extra about EasyFi at – https://easyfi.community/