EasyFi (EASY)A Layer 2 DeFi Protocol for Undercollaterized Lending.
- EasyFi is a Decentralized Finance (DeFi) lending protocol that enables undercollateralized lending, using 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.