EasyFi Showcases Digital ID-Based Credit Solution for DeFi; Upcoming ProBit Exclusive On February 3
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Following the partnership between ProBit Exchange and EasyFi to consolidate the current divide between centralized and decentralized finance, EASY will now be featured on the upcoming ProBit Exclusive Lite-on February 3 following their listing in January. ProBit Exchange has completed 15 editions of its unique 50% discounted subscription offering for many premium tokens that continue to excel on the market.
With the TVL of the DeFi space currently at $27B, EasyFi provides ProBit users ample opportunity to learn the ropes of borrowing, lending, earning yields, and many other features capable of democratizing financial welfare for the unbanked and marginalized.
Deployed on layer 2 blockchain MATIC for scalability and retrofitted with Chainlink price-feed oracles for accurate price tracking across markets, EasyFi has also recently secured a partnership with Blockpass to complete the so-called Identity Quad, a considerable paradigm shift in the lending and borrowing space.
Through Blockpass’s digital identity protocol, user identity information can be verified and transmitted to Matic via Chainlink oracles for vastly improved cost efficiency and speed. With all the data identity fully verified and expedited over to EasyFi, this will allow anyone to conveniently access a portable digital identity to lend and borrow digital assets in a fully compliant and transparent manner.
The partnership with Blockpass also sets up the stage for under-collateralized and uncollateralized loans, a significant feature aimed at equalizing the playing field financially.
A secure credit rating system based on Proof of Reputation through TrustScore smart contracts will provide credit scores for prospective lenders and borrowers. Financial history and credibility across cross-chain activities such as borrowing and repaying assets will be provided by whitelisting ERC20 addresses and can be used to determine eligibility for undercollateralized or even unsecured loans.
Following up on the success and community support behind Dual Farming (DF2), which enabled EASY stakers to farm MATIC tokens, EasyFi will launch DF3 to farm EASY at up to 219% APY depending on staking duration.
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ABOUT EASYFI NETWORK
EasyFi is a universal layer 2 lending protocol built for DeFi focused on scalability, composability, and adoption. As the first Layer 2 lending protocol built on Matic Network, the EasyFi Network has been designed as an open and inclusive financial network infrastructure to run on public networks to facilitate an end-to-end lending & borrowing of digital assets and related financial products.
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