PRESS RELEASE. British Virgin Islands — 6th August, 2021 — EQIFI, a decentralized protocol for pooled lending, borrowing and investing Ethereum-based cryptocurrencies, stablecoins, and select fiat currencies, has today launched its DeFi platform, including newly introduced fixed- and variable-rate ledning products, as well as the advanced yield aggregator and interest rate swaps.
Brad Yasar, CEO of EQIFI, said: “We are incredibly excited to bring our new range of DeFi products to our community and clients. By harnessing the power of DeFi technology, EQIFI is positioned to become an industry world leader. Through blockchain technology, EQIFI democratizes financial products previously only available to a select few, and we are confident that EQIFI is best positioned to bring these products to clients who want to embrace the evolution of digital banking, in an accessible and regulated manner.”
Outlined in full below, EQIFI’s new products simplify DeFi by consolidating a range of sophisticated services on a single user-friendly platform. The products are designed to address the shortcomings of the traditional banking sector, such as high fees, outdated technology, obsolete pricing models, and expensive cash handling.
- EQIFI Fixed-Rate Products are pooled loans at a fixed interest rate that settle on a specified future date. The user provides collateral in the form of ETH, wBTC, Stablecoins, or select fiat currencies (converted into stablecoins) in pools, with fixed rates attached.
- EQIFI Variable-Rate Products feature algorithmic borrow rates, making the marketplace automatically responsive to changes across the network based on user activity and demand, increasing levels of borrowing from the token pool.
- EQIFI Interest Rate Swaps are a DeFi forward contract in which one stream of future interest payments is exchanged for another based on a specified
