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EasyFi Lending Protocol Goes Reside with Cash Markets on Polygon


The common layer 2 digital belongings lending protocol, EasyFi Community has introduced that it’s now stay with its lending protocol on Polygon. The brand new lending protocol went stay on Nov 15, 2021 and shall be initially supporting six cash markets with supplying and borrowing on Polygon Community.

Whereas saying the newest growth, COO and Co-founder of EasyFi Community Anshul Dhir stated,” Six cash markets on our protocol on Polygon Community at the moment are open for operations. We now have now accomplished a significant milestone in our This fall 2021 roadmap that of Full protocol launch. We now have launched the markets first on Polygon Community and shall be quickly adopted with launch of markets on Binance Sensible Chain and different networks.”

To be able to guarantee the protection and safety of its userbase, EasyFi Community has carried out a number of groundwork main as much as the launch. The protocol has been subjected to a full safety audit by one of many main cybersecurity corporations — Halborn Safety. The train Included evaluation and testing of the undertaking’s good contracts by means of virtually all potential situations to make sure compliance with international safety requirements. Along with the exterior audits, EasyFi continues to hold out its personal inner audits to determine areas of concern and implement corrective and danger administration actions.

The exhaustive checklist of inner audits contains penetration testing, vulnerability assessments and DDOS simulation assessments.

EasyFi’s lending protocol on Polygon will at present checklist the next belongings 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 stated, “The primary 6 cash markets to be open for the customers on our protocol on Polygon are $MATIC, $USDC, $USDT, $DAI, $WETH (Wrapped Ether) and $WBTC (Wrapped Bitcoin). The Firm is testing many different tokens as properly, which it is going to add once in a while to boost the lending markets.”

EasyFi Community is on observe with its growth roadmap for This fall 2021 as introduced earlier with the total protocol launch. The upcoming token markets on Polygon are stay first, enabling lending and borrowing of risky and steady belongings on its protocol on Polygon Community. The undertaking may also be pushing into going stay quickly with the staked derivatives belongings as collateral markets as indicated early this 12 months by means of strategic partnerships with among 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 belongings as collateral markets on the protocol. As soon as the staked derivatives belongings market is launched, staked by-product tokens shall be listed as yield-bearing collateral belongings on the platform and customers proudly owning these listed derivatives can safe loans towards them. We may also be seeing the protocol going stay with its markets on Binance Sensible Chain and enlargement to different networks as properly.

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