StaFi Partners with EasyFi Network — Introducing Staked Derivative Assets Money Markets on Layer 2 DeFi
Hello Readers!!!
Here is a very big collaboration between EasyFi Network and StaFi to make DeFi easier.
Read on to see how it benefits users!!!
Easyfi is the best and first fastest-growing layer 2 Defi lending protocol whose aim is to continuously work towards maximizing the utility of crypto and other digital assets and also to make all kinds of collateral available for its users to explore.
In a bid to expand the #DoMoreWithDefi initiative and provide Easyfi users with more access to collateralized tokens for lending and borrowing on Easyfi platform, Easyfi Network has partnered with StaFi to introduce staked derivative asset’s money Markets.
Stafi is the first DeFi protocol for un,locking liquidity of staked assets.
EasyFi network is the first Defi Lending protocol on Layer 2 Matic Network to list the Staked Derivative Assets as Collateral. With this collaboration, Users of EasyFi can now have StaFi rTokens as collateral for lending and borrowing on EasyFi platform, this will initiate new collateral market on the EasyFi Lending Protocol with the inclusion of multiple rTokens like rFIS, rETH, rATOM and so many others as collateral.
What are rTokens??
rTokens are derivative tokens received by users on staking PoS(Proof of Stake) tokens on StaFi Smart Contract. There are so many PoS tokens and for each one staked, users receive an equal amount of rTokens in returns, rTokens allow users to receive staking rewards as well as its liquidity through trading and also claim a corresponding amount of staked tokens anytime they want. For example, users can receive rXYZ as rToken if they stake XYZ.
What the partnership entail:
- rTokens will be accessible on the EasyFi Lending Platform as collateral.
- rTokens will enable StaFi and EasyFi users to lend and borrow staked derivative assets on EasyFi Network, this will help enhance liquidity further in DeFi.
- The partnership is Stage 2.0 of the #DoMoreWithDefi vision of Easyfi Network, This vision is focused on continuously working towards maximizing the utility of crypto and other digital assets through EasyFi Platform.
- The collaboration will add greater value to the Layer 2 DeFi community as it will open doors to new streams of liquidity and will help unlock the true potential of the staked derivative assets on Layer 2 Money Market.
You can read more here about StaFi Here and EasyFi Network Here or follow on Social Media.
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