EasyFi, the favored DeFi lending protocol that not too long ago made information by integrating help for Binance Smart Chain has introduced a partnership with Mirror Protocol – one other DeFi powerhouse that’s main the best way with artificial property. The partnership will introduce a complete new class of property to the EasyFi ecosystem, enabling customers to make environment friendly use of their investments.
EasyFi and Mirror Protocol – Complementing Each Other’s Strengths
EasyFi is thought for its effectivity and ease of use. Designed as a layer 2 blockchain DeFi lending protocol, it’s at present providing lending on Polygon and Binance Smart Chain aside from different staking and farming companies. It is poised to satisfy a lot of the real-world necessities in the long run by providing varied new options like microlending, undercollateralized loans, credit score delegation and credit score default swaps options. In addition, the wholesome liquidity ranges and low transaction prices makes it very best for every kind of customers.
The multichain suitable EasyFi platform can function on native Ethereum, Polygon in addition to Binance Smart Chain networks, which makes collateralization of a variety of property on all three protocols potential.
Meanwhile, the Mirror Protocol specializes in the creation of artificial tokens which makes it potential to tokenize varied conventional monetary devices like shares, commodities. The tokenized property are generally known as mAssets and they’re accessible on Terra, Ethereum and Binance Smart Chain.
With this partnership, EasyFi will be capable of help mAssets on its platform whereas enabling the Mirror Protocol group to safe loans in opposition to their artificial property.
Tokenized Stocks and Commodities Money Markets
A results of the collaboration between EasyFi and Mirror Protocol is the launch of “Tokenized Stocks and Commodities Money Markets” on the EasyFi protocol. The new cash markets will likely be hosted on Binance Smart Chain and it is going to help tokenized variations of among the main world shares like Apple, Facebook, Google (Alphabet), Amazon, Tesla, Twitter, Microsoft and extra.
Apart from making tokenized FAANG (Facebook, Amazon, Apple, Netflix & Google) vary of property accessible to its customers, EasyFi additionally allows customers to take stablecoin loans in opposition to these tokenized shares and commodities like oil.
With the collaboration, EasyFi and Mirror Protocol usually are not solely making DeFi property extra accessible but additionally pushing for the creation of blockchain agnostic monetary options. Even although that is just the start, the development will finally catch up and when it occurs, EasyFi will likely be on the lead.