EasyFi Network Products and Services — #DoMoreWithDefi
Hello Readers,
Have you seen or read anything about EasyFi Network products??. If No, Read On.
As a leading Layer 2 Defi Lending Protocol, EasyFi Network is doing everything to satisfy their users, they’ve got the best product, and they provide the best lending services ensuring security for all parties involved.
EasyFi Network Products
- Micro-Lending
- Under Collateralized Loans
- Credit Delegation
- Credit Default Swaps
Micro-Lending
Just as the name, Micro means something very small, and in Finance, it simply means giving out small funds/credit to users in need of them. These kinds of funds are usually funds to meet small financial needs, could be for health emergencies, to fund a small business or salary advance for monthly workers.
EasyFi Network is making Micro-Lending easier and more convenient for users, the exorbitant loan interest from local financiers is one of the major problems faced by borrowers. With EasyFi Network Micro-lending, users can have loans for emergencies, small business capital, and salary advances especially for users that receive their salaries in crypto.
Under Collateralized Loans
EasyFi Network providing under collateralized loan to its users will bring more trust into decentralized lending and this will definitely lead to more adoption, it’s one of the most important innovations of the lending industry as it will be a great help to build trust and increase adoption in the industry.
In most lending industry, over collateralized loan is a major barrier, EasyFi Network offers under collateralized loan and measuring users creditworthiness is done by maintaining users data over a period of time, this will surely show the creditworthiness and past records of non-payment by users. EasyFi Network uses Koinfox TrustScore to easily evaluate and disburse loans at the lowest possible collateralization ratio.
Credit Delegation
EasyFi Network ensuring the security of all parties involved in the lending process, credit delegation is one of its core products where users either know each other or the lender accepts the risk associated with the lending by deciding based on the report provided by the TrustScore.
Credit delegation can be understood as an agreement where the supplier knows the seeker and lends funds directly to the known borrower of choice. Therefore, we simply call credit delegation as ‘Know Your Borrower’ Source
The two parties that will be involved in the protocol will have to enter into a trust agreement where the depositors’ funds can be borrowed by the other party. Every other agreement or terms relating to the loan will be put into a delegation agreement and stored on-chain which can serve as a reference for everyone involved.
Credit Default Swaps
Credit Default Swap is also a very important product of EasyFi Network, this is a product that enables loan suppliers to convert their loans into a tradable instrument, sell them to institutional customers who are willing to cover the risk. CDS serves as insurance for investors as they are able to transfer or offset credit risk with other investors. CDS does 2 major things in the lending protocol, it serves as insurance against defaults and a reference entity.
EasyFi Network will provide an efficient market for credit default swaps by automating the whole process.
These are the products of EasyFi Network which makes them a unique Defi lending protocol everyone should be part of.
EasyFi Token is available on Uniswap with Contract Address #0x913D8ADf7CE6986a8CbFee5A54725D9Eea4F0729.
Don’t forget to be part of the EasyFi Network as everything comes very EASY.
With EasyFi Newtork, You can #DoMoreWithDefi
THANKS FOR READING
