EQIFI Launches Suite of DeFi Products Powered by a Global, Licensed Bank
[PRESS RELEASE – British Virgin Islands, Aug. 6, 2021]
Powered by EQIBank, Eqifi’s highly anticipated launch provides a single uniform platform for decentralized finance products.
Eqifi, a decentralized protocol for pooled lending, borrowing and investing Ethereum-based cryptocurrencies, stablecoins and select fiat currencies, launched its decentralized finance platform today, including newly introduced fixed- and variable-rate lending products, as well as an advanced yield aggregator and interest rate swaps.
Brad Yasar, CEO of Eqifi, said: “We are incredibly excited to bring our new range of DeFi products to our community and clients. By harnessing the power of DeFi technology, Eqifi is positioned to become an industry world leader. Through blockchain technology, Eqifi democratizes financial products previously only available to a select few and we are confident that Eqifi is best positioned to bring these products to clients who want to embrace the evolution of digital banking in an accessible and regulated manner.”
Outlined in full below, Eqifi’s new products simplify DeFi by consolidating a range of sophisticated services on a single user-friendly platform. The products are designed to address the shortcomings of the traditional banking sector, such as high fees, outdated technology, obsolete pricing models and expensive cash handling.
- Eqifi fixed-rate products are pooled loans at a fixed interest rate that settle on a specified future date. The user provides collateral in the form of Ether (ETH), Wrapped Bitcoin (wBTC), stablecoins or select fiat currencies (converted into stablecoins) in pools, with fixed rates attached.
- Eqifi variable-rate products feature algorithmic borrow rates, making the marketplace automatically responsive to changes across the network based on user activity and demand, increasing levels of borrowing from the token pool.
- Eqifi interest rate swaps are a DeFi forward contract in which one stream of future interest payments is exchanged for another based on a specified principal amount. Interest rate swaps usually involve the exchange of a fixed interest rate for a variable rate or vice versa.
- The Eqifi yield aggregator is an automated aggregator of all leading external yield farming products, making yield farming simple and automatic. The platform automatically assigns capital between different liquidity pools, seeking the optimum profit and margin.
Governed by holders of the platform’s native EQX token, Eqifi operates under a community-focused, decentralized ethos, allowing community members to make important decisions about the future of the project, such as listing and delisting assets and tokens, adjusting interest rates according to the market, modifying collateral limits, and pausing any loans or deposits for a certain time.
Eqifi is powered by EQIBank. Launched in 2015, EQIBank is one of the world’s leading digital banks and offers tax-neutral personal and corporate banking services in multiple currencies to clients in over 180 countries. EQIBank offers competitive rates, 24/7 service, trusted security and an innovative, simple online global banking experience across all devices. EQIBank provides bank accounts, loans, custody, debit and credit cards, over the counter, and wealth management to Eqifi and all its qualified clients.
Jason Blick, CEO of EQIBank and chairman of Eqifi, said, “Eqifi’s new range of products is an essential milestone on the road to decentralized finance adoption. This is a product range like no other and EQIBank is proud of its role as the regulated bank powering Eqifi. We support and trust both Eqifi and this new range of products to bring DeFi-enabled products and solutions to mainstream audiences in an accessible way.”
About Eqifi
Eqifi, the first DeFi project powered by a licensed and regulated digital bank, is setting new standards, establishing trustless transactions, and driving real-world adoption.
Eqifi’s infrastructure is optimized for real-time digital interactions. We are at the forefront of embracing today’s ever-demanding culture that wishes to embrace the evolution of digital technologies.
