EasyFi is a protocol built with a vision to solve some of the inherent challenges faced by gen 1 defi solutions with respect to the transaction speed and cost which are a bottleneck for defi operations at scale. What is EasyFi (Protocol) - EASY Token?
EasyFi is a protocol built with a vision to solve some of the inherent challenges faced by gen 1 defi solutions with respect to the transaction speed and cost which are a bottleneck for defi operations at scale.
There are billions of people in emerging economies who are working only because of daily time-bound loans of small value, however, these people are exploited by exorbitant interest rates by local financiers. Micro Loans from EasyFi are built for the very purpose of enabling people to draw upon small loans quickly for various purposes, be it their small business, medical emergency, or early salary (In case of various territories where salaries are paid in Crypto).
Under collateralized Loans are going to be one of the most important innovations of the lending industry to enable strong adoption and trust in decentralized lending. Connected with TrustScore (a decentralized rating mechanism built by Koinfox) EasyFi will enable the community to access billions in the capital that can be allocated efficiently.
EasyFi will enable credit delegation as one of its core products for more trust-based loans where both parties either know each other or accept the level of risk by deciding upon the TrustScore of the borrower. The delegation will typically come into play for loans above a certain size, enabling financing of various needs of trusted entities via the protocol.
CDS, which brings insurance to DeFi, are also going to be an important feature of the protocol enabling suppliers of the loans especially of a certain size, to be able to convert those loans into tradable instruments and sell them to institutional customers who are willing to cover the risk. This enables a simple form of credit insurance of various categories of loans issued on the protocol.
User onboarding and UX is another Big problem with many of defi protocols. EasyFi will enable frictionless onboarding of users onto it’s platform with inbuilt gasless meta transactions for users enabled by various of it’s ecosystem partner projects.
EasyFi will enable users to farm it native protocol token "EASY" by interacting with the protocol. Anyone can farm EASY tokens when they interact with the platform. Farmed tokens are distributed on daily basis to the users based on their interaction contribution with the protocol.
source : Crypto Millionaire Academy
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