EQIFI, a decentralized protocol for pooled lending, borrowing, and investing Ethereum-based cryptocurrencies, stablecoins, and select fiat currencies, has launched its DeFi platform, which includes fixed- and variable-rate lending products, as well as the advanced yield aggregator and interest rate swaps.
“We are incredibly excited to bring our new range of DeFi products to our community and clients,” CEO Brad Yasar said. “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.”
EQIFI’s new products consolidate a range of sophisticated services on a single platform. 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.
A DeFi forward contract, EQIFI Interest Rate Swaps occur when one stream of future interest payments is exchanged for another based on a specified principal amount. The EQIFI Yield Aggregator is an automated aggregator of all leading external yield farming products. The platform automatically assigns capital between different liquidity pools, seeking the optimum profit and margin.
EQIFI is governed by EQX token holders and operates under a community-focused, decentralized ethos, allowing community members to make important decisions about the future of the project, such as listing and delisting assets and tokens, adjusting interest rates according to the market, modifying collateral limits, and pausing any loans or deposits for a certain time.
The EQIFI protocol is powered by EQIBank. Launched in 2015, EQIBank offers tax-neutral personal and corporate banking services in multiple currencies to clients in more than 180 countries. EQIBank provides bank accounts, loans, custody, debit and credit cards, OTC, and wealth management to EQIFI and all its qualified clients.
“EQIFI’s new range of products are an essential milestone on the road to decentralized finance adoption,” EQIBank CEO and EQIFI chairman Jason Blick said. “This is a product range like no other, and EQIBank is proud of its role as the regulated bank powering EQIFI. We support and trust both EQIFI and this new range of products to bring DeFi enabled products and solutions to mainstream audiences in an accessible way.”