[PRESS RELEASE – British Virgin Islands, Aug. 6, 2021]
Powered by EQIBank, Eqifi’s extremely anticipated launch gives a single uniform platform for decentralized finance merchandise.
Eqifi, a decentralized protocol for pooled lending, borrowing and investing Ethereum-based cryptocurrencies, stablecoins and choose fiat currencies, launched its decentralized finance platform in the present day, together with newly launched fixed- and variable-rate lending merchandise, in addition to a complicated yield aggregator and rate of interest swaps.
Brad Yasar, CEO of Eqifi, mentioned: “We’re extremely excited to deliver our new vary of DeFi merchandise to our neighborhood and purchasers. By harnessing the ability of DeFi expertise, Eqifi is positioned to turn into an business world chief. By blockchain expertise, Eqifi democratizes monetary merchandise beforehand solely out there to a choose few and we’re assured that Eqifi is greatest positioned to deliver these merchandise to purchasers who need to embrace the evolution of digital banking in an accessible and controlled method.”
Outlined in full under, Eqifi’s new merchandise simplify DeFi by consolidating a spread of refined companies on a single user-friendly platform. The merchandise are designed to deal with the shortcomings of the standard banking sector, similar to excessive charges, outdated expertise, out of date pricing fashions and costly money dealing with.
- Eqifi fixed-rate merchandise are pooled loans at a hard and fast rate of interest that choose a specified future date. The person gives collateral within the type of Ether (ETH), Wrapped Bitcoin (wBTC), stablecoins or choose fiat currencies (transformed into stablecoins) in swimming pools, with mounted charges connected.
- Eqifi variable-rate merchandise characteristic algorithmic borrow charges, making routinely conscious of adjustments throughout the community based mostly on person exercise and demand, growing ranges of borrowing from the token pool.
- Eqifi rate of interest swaps are a DeFi ahead contract wherein one stream of future curiosity funds is exchanged for an additional based mostly on a specified principal quantity. Rate of interest swaps often contain the change of a hard and fast rate of interest for a variable charge or vice versa.
- The Eqifi yield aggregator is an automatic aggregator of all main exterior yield farming merchandise, making yield farming easy and computerized. The platform routinely assigns capital between completely different liquidity swimming pools, in search of the optimum revenue and margin.
Ruled by holders of the platform’s native EQX token, Eqifi operates underneath a community-focused, decentralized ethos, permitting neighborhood members to make vital selections about the way forward for the undertaking, similar to itemizing and delisting belongings and tokens, adjusting rates of interest based on the market, modifying collateral limits, and pausing any loans or deposits for a sure time.
Eqifi is powered by EQIBank. Launched in 2015, EQIBank is among the world’s main digital banks and gives tax-neutral private and company banking companies in a number of currencies to purchasers in over 180 nations. EQIBank gives aggressive charges, 24/7 service, trusted safety and an revolutionary, easy on-line world banking expertise throughout all units. EQIBank gives financial institution accounts, loans, custody, debit and bank cards, over-the-counter, and wealth administration to Eqifi and all its certified purchasers.
Jason Blick, CEO of EQIBank and chairman of Eqifi, mentioned, “Eqifi’s new vary of merchandise is a necessary milestone on the highway to decentralized finance adoption. This can be a product vary like no different and EQIBank is pleased with its function because the regulated financial institution powering Eqifi. We assist and belief each Eqifi and this new vary of merchandise to deliver DeFi-enabled merchandise and options to mainstream audiences in an accessible manner.”
Eqifi, the primary DeFi undertaking powered by a licensed and controlled digital financial institution, is setting new requirements, establishing trustless transactions, and driving real-world adoption.
Eqifi’s infrastructure is optimized for real-time digital interactions. We’re on the forefront of embracing in the present day’s ever-demanding tradition that needs to embrace the evolution of digital applied sciences.