Community-Led EQIFI Sets Pace for Traditional Financial Products on DeFi

By Edward Moon | Analysis From Moon | 31 May 2021

Traditional forms of investment have always been a friction environment designed to bring in money for the banking institutions while leaving a small portion for the investor as “profits. ' DeFi opened up a whole new world of opportunities but is still inaccessible to many and even then, project leads have control over what can be offered. EQIFI is a DeFi platform that changes the game and sets the pace for all financial institutions of the future.

The Problem

Banks and other financial institutions are expected to generate $2.5 trillion this year. The large sum of money makes it attractive, but banks are not designed to be generous to their clients. Heavy fees, still using old technology, overly expensive and silo nature means they have high operational expenses which they charge from account holders.

The lending market still works on the same principle making it slow, unable to discover potential markets and overall have low liquidity. The same goes for interest rate swaps. Highly centralized and handled manually, it is prone to errors, frauds and other risks related to liquidity, high rates and isolated market.

DeFi has been a game-changer, but currently, it is a disruptive market, meaning it is disconnected from the mainstream financial world. The higher outputs are offset as people have a hard time liquidating in fiat. Different and incompatible blockchain networks add to this along with becoming fragmented and siloed. Run by teams that are highly technical with little grip on financial knowledge, the platforms ultimately fail to deliver expectations.

EQIFI: Community-Led Services

EQIFI has taken a unique approach towards solving the global financial issue. As the first DeFi platform that is powered by a fully licensed bank, it merges the world of DeFi and CeFi, unlocking trillions of dollars worth of potential.

Apart from this, EQIFI developers have opened up the platform governance to its users. This means users of the platform have a complete and democratic say in how EQIFI will work and progress - a people’s oriented financial institution. Through this, EQIFI users get the best of rates, as explained by Iona Frincu, the CTO,

“DeFi gives individuals the opportunity to be part of a community collaborating for everyone's benefit in a transparent way. For example, if multiple parties provide liquidity to a system, they are proportionally remunerated for that”... [and] … “EQIFI reunites different DeFi features and products in a single place, offering to its users the opportunity to lend, borrow, stake, or access the best yield out there.”

EQIFI Offerings

Powered by DeFi and connected to the world with a licensed traditional bank (EQIBank), EQIFI offers different services, with each product proposed and selected by its users.

  • Fixed Term Investments: The highest fixed income products.
  • Low Rate Lending: With no middleman, borrowers get low-interest rates and lenders make more profit. 10,000 EXQ token holders get added benefits of even lower interests and a high LTV.
  • Crypto/Fiat Accounts and Cards: ETH, ERC20, Fiat and stablecoin integration along with multi-currency banking accounts and credit cards.
  • Retail and Institutional Service: EQIFI will be offering services to all on equal footing. Individuals and firms are both welcome to take the EQIFI advantage.
  • Yield Aggregator: DeFi farming made simple. A user only needs to subscribe and the EQIFI platform will find the best farming options and automatically spread the assets for the best profit margin.

Where traditional financial institutions have complete control over what you can and can’t do with your assets, EQIFI offers a fresh take by allowing users to decide what they want. As public awareness increases on the financial hostage situations by institutions today, EQIFI sets the standard for the next iteration of financial services.

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Edward Moon
Edward Moon

Crypto trader and analyst.

Analysis From Moon
Analysis From Moon

Analysis From Moon

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