EasyFi Network’s universal layer 2 lending protocol for digital assets, has launched its Polygon loan protocol. On November 15, 2021, the new lending protocol was launched. It will initially support six money markets by supplying or borrowing from Polygon Network.
Anshul Dhir, EasyFi Network’s COO and co-founder announced the new development.,” Six money markets on our protocol on Polygon Network are now open for operations. This is a huge milestone for our company. Plan Q4 2021Full protocol launch. We have launched the markets first on Polygon Network and will be soon followed with launch of markets on Binance Smart Chain and other networks.”
EasyFi Network performed extensive groundwork prior to its launch in order to protect the security and safety of its user base. The protocol has been subjected to a full security audit by one of the leading cybersecurity firms — Halborn Security. The exercise Included analysis and testing of the project’s smart contracts through almost all possible scenarios to ensure compliance with global security standards. EasyFi also continues its internal audits in order to find areas of concern, and to implement risk and corrective management measures.
This exhaustive list includes vulnerability assessments, penetration testing and DDOS simulations.
EasyFi’s lending protocol on Polygon will currently list the following assets as collateral markets – $MATIC, $USDC, $USDT, $DAI, $WETH and $WBTC – with more to be added in the near future.
Anshul provided more information on the Lending., “The first 6 money markets to be open for the users on our protocol on Polygon are $MATIC, $USDC, $USDT, $DAI, $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.”
EasyFi Network has a solid development plan for Q4 2021, as was announced in conjunction with the protocol launch. First, the upcoming token markets for Polygon will be live. They allow lending and borrowing volatile as well as stable assets via its Polygon Network protocol. Project will be working to go live with staked derivatives assets soon as collateral markets, as was indicated earlier this year by strategic partnerships with certain staked derivative projects such as RAMP and StaFi.
This partnership will yield results as EasyFi plans to launch tokens and derivatives assets that can be used as collateral markets. Staked derivative tokens that are listed on the platform as yield-bearing collateral will become available. Users who own these listed derivatives may be eligible for loans. The protocol will be live on Binance Smart Chain, with markets and potential expansion to other networks.
Learn more about EasyFi at – https://easyfi.network/