Layer 2 lending protocol EasyFi is the latest entrant to secure a partnership with top 25 ranked ProBit Exchange to onboard their listing and liquidity infrastructure while providing its 800,000 users with direct access to a unique lending platform featuring undercollateralized loans.
EasyFi’s native token EASY has just started trading across 3 of ProBit Exchange’s liquid markets including KRW, USDT, and BTC on December 23. The EASY token provides holders with governance, protocol incentivization, staking rewards, cross market interaction, and cross-chain settlement across the blockchain agnostic platform.
ProBit Exchange and EasyFi will explore integration to access all lending products that range from collateralized to under & non-collateralized loans along with access to DeFi lending directly from ProBit’s UI/UX. Additionally, ProBit Exchange users can now lend assets directly to EasyFi markets and accrue yield-bearing incentives.
EasyFi’s competitive edge features a Proof of Reputation-based TrustScore protocol that serves as a credit rating system, effectively assigning credit scores based on the borrowing and transaction history of each prospective user.
The reputable universal score metrics make it possible to execute an under collateralized loan as collateral requirements reflect each user’s borrowing activity and credibility across multiple DeFi platforms.
Built on Matic Network’s layer 2 solution to harness the off-chain scalability capabilities of Ethereum Plasma, EasyFi leads the pack in terms of speed and cost while still retaining access to the main liquidity pools on the Ethereum mainchain.
The onboarding of both Chainlink and Matic have infused EasyDefi with a fast, inexpensive source of off-chain data to help borrowers set up loans with accurate market prices while smart contracts can efficiently appropriate and monitor collateralization ratios based on TrustScore.
As part of their enhanced user incentives, EasyFi has also rolled out Dual Farming (DF2) which is a unique feature enabling EASY stakers to mine and farm tokens from EasyFi’s partners. This feature currently includes over 5,000,000 MATIC allocated as staking rewards for a hefty APY of up to 200%.
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A special ProBit Cup Event featuring 10,000 USDT for the top 20 point totals is currently running during the month of December in which users can accumulate points by purchasing and staking ProBit’s native token PROB.
To celebrate the upcoming holidays, ProBit Exchange has decided to extend the 50% discounted BTC subscription period as an early gift.
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