Eqifi launches a suite of decentralized financial products
Powered by EQIBank, the highly anticipated launch of EQIFI provides a single and uniform platform for decentralized financial products.
EQIF is a decentralized protocol for the lending, borrowing, and joint investment of Ethereum-based cryptocurrencies, stablecoins, and certain fiat currencies. EQIFI launched its decentralized financing platform on August 6, 2021.
It includes new fixed and floating rate loan products, as well as an advanced yield aggregator and interest rate swaps.
Brad Yasar, CEO of EQIFI, said: “We are extremely pleased to bring our new DeFi product line to our community and to our customers. By harnessing the power of DeFi technology, Eqifi is positioned to become a global industry leader. Thanks to blockchain technology, Eqifi democratizes financial products previously reserved for the privileged few and we are convinced that Eqifi is best placed to offer these products to clients who wish to adopt the evolution of digital banking in an accessible and regulated manner.
Described in full below, EQIFI’s new products simplify DeFi by consolidating a range of sophisticated services on one user-friendly platform.
The products are designed to address the shortcomings of the traditional banking industry, such as high fees, outdated technology, outdated pricing models, and expensive cash handling.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 a guarantee in the form of ether (ETH), wrapped bitcoin (wBTC), stablecoins, or certain fiat currencies (converted to stablecoins) in pools, with fixed rates attached.
- EQIFI variable rate products feature algorithmic borrowing rates, making the market automatically responsive to changes on the network based on user activity and demand, thus increasing token pool borrowing levels .
- EQIFI Interest Rate Swaps are a DeFi futures contract in which a stream of future interest payments are swapped for another based on a specified principal amount. Interest rate swaps generally involve swapping a fixed interest rate for a variable rate or vice versa.
- EQIFI Yield Aggregator is an automated aggregator of all major external yield agricultural products, making yield farming simple and automatic. The platform automatically allocates capital between different liquidity pools, seeking the optimal profit and margin.
Ruled by the holders of the platform’s native EQX token, Eqifi operates with a decentralized and community-driven ethic, allowing community members to make important decisions regarding the future of the project.
These decisions include listing and delisting assets and tokens, adjusting interest rates according to the market, changing collateral limits, and suspending any loan or deposit for a period of time.
EQIFI is powered by EQI Bank. Launched in 2015, EQIBank is one of the world’s leading digital banks, providing tax-neutral personal and business banking services in multiple currencies to customers in more than 180 countries.
EQIBank offers competitive pricing, 24/7 service, reliable security, and a simple and innovative global online banking experience on all devices.
EQIBank provides bank accounts, loans, safekeeping, debit and credit cards, over-the-counter and wealth management to Eqifi and all of its qualified clients.
Jason Blick, CEO of EQIBank and President of EQIFI, said: “Eqifi’s new product line is an essential step on the path to the adoption of decentralized finance. This is a range of products unlike any other and EQIBank is proud of its role as a regulated bank supplying EQIFI. We support and trust Eqifi and this new product line to bring DeFi compatible products and solutions to the general public in an accessible way. “
For more information, visit EQIFI website.
EQIFI, the first DeFi project powered by a licensed and regulated digital bank, sets new standards, establishes trust-free transactions, and drives real-world adoption.
EQIFI’s infrastructure is optimized for digital interactions in real time. We are at the forefront of embracing today’s increasingly demanding culture that wants to embrace the evolution of digital technologies.
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