EasyFi also plans to launch Staked Derivative Assets.
On Monday, Layer 2 DeFi lending protocol, EasyFi launched its Lending Protocol with new Money Markets for Supplies and Borrowings on its platform. It is hosted on Polygon Network.
On the occasion, Anshul Dhir, COO & Co-Founder, EasyFi Network said,
“Six money markets on our protocol on Polygon Network are now open for operations. We are currently live on Polygon Network and will soon be launching on Binance Smart Chain and other networks as well.”Anshul Dhir, COO & Co-Founder, EasyFi Network
Before the launch, the project carried out a couple of security audits to ensure complete safety.
- Halborn Security Audits (External Audit)
EasyFi had onboarded Halborn Security to audit its smart contract for the overall security. Recently, the audits were completed, which brought the launch of the Lending Protocol closer.
Only after thorough and deep testing simulating different scenarios, approval was given, ensuring compliance to global security standards.
- Internal Audits
The EasyFi team went for the self-check route too and conducted tests including Penetration Testing, Vulnerability Assessments, and DDOS Simulation. The Internal Audits boosted the team’s confidence in its product.
Giving more details of the Lending Protocol, Anshul added, “The first 6 collateral markets to be open for the users on our protocol on Polygon are $USDC, $USDT, $DAI, $MATIC, $WETH (Wrapped Ether) and $WBTC (Wrapped Bitcoin). The Company is testing many other tokens as well, which it will add from time to time to enhance the lending markets.”
Earlier this year, EasyFi had partnered with projects that are focusing on Staked Derivatives such as StaFi and RAMP. These were strategic alliances as EasyFi plans to launch Staked Derivative Assets as Money Markets on the Layer 2 lending protocol.
The team is in the advanced stages of integration and will see new Collateral Assets activated so that users can use their derivative tokens as yield-bearing collateral assets on EasyFi.
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