EasyFi Partners with Clover Finance — Bringing Polkadot-Based Assets to Layer 2 Money Market

Hi Readers!!!

Here is a great expansion for EasyFi Network, EasyFi partners with Clover to bring Polkadot-based assets to the layer 2 money market. Since Polygon Network(Previously Matic) now entertains Polkadot-based projects, and Easyfi is built on Polygon Network. It becomes very easy for Polkadot-based assets to be on Easyfi Network.

Now Clover has partnered with EasyFi Network, they provide compatibility to easily deploy Ethereum dApps on Polkadot and create trustless 2-way pegs between ERC20 and DOT-based assets.

Eayfi will be able to expand to and leverage the Polkadot ecosystem, DOT-based assets can be enlisted as collateral on EasyFi Network with this.

Clover is a powerful smart contract platform that enables Ethereum developers and projects to migrate their contracts to Polkadot Network.

What the Partnership Entails

This partnership will help EasyFi with the below listed;

  • Partnership with Clover will make EasyFi expand its products and services to other networks including non-Ethereum based blockchains.
  • Bridges can be built and enable interoperability between different blockchain networks for seamless access to their token system, making it usable and accessible on EasyFi Lending protocol.
  • Render multichain compatibility to the EasyFi money markets by listing newer collaterals such as staked assets derivatives and native tokens from other projects.
  • This is another big step to achieve the #DoMoreWithDefi vision in getting newer ways to help users maximize the utility of their crypto assets.

All EasyFi wants is to offer newer collateral options and expand the lending protocol, Clover partnership with EasyFi is a good start to expand into the Polkadot ecosystem and have DOT-based assets as collateral on the best Defi layer 2 lending protocol.

EasyFi & Clover

Speaking on this partnership, Anshul Dhir, CoFounder & COO said, We are very happy to join hands with Clover Finance in line with our endeavours to offer newer collateral options and dedicated money markets to newer evolving ecosystems and horizontal expansion of EasyFi lending Protocol. Our partnership allows EasyFi to expand into the Polkadot ecosystem and enable DOT-based assets on our collateral markets.

And Norelle Ng, COO, Clover Finance, added

We are excited to collaborate with the EasyFi team which is helping to pioneer a new age in decentralized lending. This partnership will allow Clover to become one of the first ever projects in the Polkadot ecosystem to leverage EasyFi’s DeFi lending protocol. Together with EasyFi, we aim to bring forth a new era in DeFi to better serve the broad Polkadot community.

THANKS FOR READING

I am Bee 🐝

Blockchain and Crypto Enthusiast