Bitcoin News and Finance
EQIFI Launches Suite of Decentralized Financial Products Powered by a Global, Licensed Bank Skip to main content

EQIFI Launches Suite of Decentralized Financial Products Powered by a Global, Licensed Bank

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 The products are designed to address the shortcomings of the traditional banking sector, such as high fees, outdated technology, obsolete pricing models, and expensive cash handling.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 principal amount. Interest rate swaps usually involve the exchange of a fixed interest rate for a variable rate, or vice versa.
  • The EQIFI Yield Aggregator is an automated aggregator of all leading external yield farming products, making yield farming simple and automatic. The platform automatically assigns capital between different liquidity pools, seeking the optimum profit and margin.

Governed by holders of the platform’s native EQX token, EQIFI 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.

EQIFI is powered by EQIBank. Launched in 2015, EQIBank is one of the world’s leading digital banks and offers tax-neutral personal and corporate banking services in multiple currencies to clients in over 180 countries. EQIBank offers competitive rates, 24/7 service, trusted security, and an innovative, simple online global banking experience across all devices. EQIBank provides bank accounts, loans, custody, debit and credit cards, OTC, and wealth management to EQIFI and all its qualified clients.

Jason Blick, CEO of EQIBank and Chairman of EQIFI, said: “EQIFI’s new range of products are an essential milestone on the road to decentralised finance adoption. 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.”

For more information, visit www.eqifi.com.

 

###

 

About EQIFI

EQIFI, the first DeFi project powered by a licensed and regulated digital bank, is setting new standards, establishing trustless transactions, and driving real-world adoption.

EQIFI’s infrastructure is optimized for real-time digital interactions. We are at the forefront of embracing today’s ever-demanding culture that wishes to embrace the evolution of digital technologies.

 

For Media Enquiries

David Cullinan

Chief Marketing officer

EQIFI

david@eqifi.com

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory