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He//o World... Welcome to Blockchain Announcements!
Today is day when BINANCE Research Blockchain world and inform us of interesting discoveries. This time they discovered EasyFi (EASY) A Layer 2 DeFi Protocol for Undercollaterized Lending.
There are not a lot of pieces of information but it's way more interesting because of it, so let's see what Binance discovered today:
EasyFi is a Decentralized Finance (DeFi) lending protocol that enables undercollateralized lending, with Plasma to improve user experience.
The EasyFi network is Ethereum compatible and blockchain agnostic, allowing cross-chain asset settlements. The network is secured using a Proof-of-Stake consensus mechanism.
TrustScore is EasyFi's user identity protocol. It analyzes borrowers' activities on various lending platforms and determines the collateralization ratio required for each individual.
EASY is EasyFi's native utility token and is used in the following functions:
Governance: EASY token holders can vote on network governance decisions.
Protocol Incentivization: Users can earn EASY tokens as rewards when they lend or borrow on the EasyFi platform.
Staking: Projects that wish to launch their lending and borrowing markets on the EasyFi network will have to stake EASY tokens.
Network Consensus: Users can stake EASY tokens to run a validator nodes and participate in network consensus.
Dual Farming: Users can also farm tokens of other DeFi projects tokens by staking their EASY tokens.
Like I said, interesting research.
Thanks for your attention and have a good life.
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