EasyFi (EASY) a DeFi Protocol for Undercollaterized Lending | Binance Research
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EasyFi (EASY) a DeFi Protocol for Undercollaterized Lending | Binance Research

He//o World... Welcome to Blockchain Announcements!

Today is day when Binance Research Blockchain world and inform us of interesting discoveries. This time they discovered EasyFi (EASY) A Layer 2 DeFi Protocol for Undercollaterized Lending.

There are not a lot of pieces of information but it's way more interesting because of it, so let's see what Binance discovered today:

  • EasyFi is a Decentralized Finance (DeFi) lending protocol that enables undercollateralized lending, with Plasma to improve user experience.
  • The EasyFi network is Ethereum compatible and blockchain agnostic, allowing cross-chain asset settlements. The network is secured using a Proof-of-Stake consensus mechanism.
  • TrustScore is EasyFi's user identity protocol. It analyzes borrowers' activities on various lending platforms and determines the collateralization ratio required for each individual.
  • EASY is EasyFi's native utility token and is used in the following functions:
    • Governance: EASY token holders can vote on network governance decisions.
    • Protocol Incentivization: Users can earn EASY tokens as rewards when they lend or borrow on the EasyFi platform.
    • Staking: Projects that wish to launch their lending and borrowing markets on the EasyFi network will have to stake EASY tokens.
    • Network Consensus: Users can stake EASY tokens to run a validator nodes and participate in network consensus.
    • Dual Farming: Users can also farm tokens of other DeFi projects tokens by staking their EASY tokens.

Like I said, interesting research.

Thanks for your attention and have a good life.

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