On 6 August 2021, EQIFI launched a platform for decentralized finance (DeFi) products, which included fixed and variable rate lending products, besides interest rate swaps and an advanced yield aggregator. EQIFI is a decentralized protocol for pooled investing, borrowing, and lending in stablecoins, Ethereum-based cryptocurrencies, and also select fiat currencies.
These simplified DeFi products consolidate many sophisticated services on a single platform that is user-friendly. These products have been designed so that they could address many of the shortcomings which are prevalent in the traditional banking sector. These include outdated technology, high fees, expensive cash handling, and obsolete pricing models.
EQIFI Fixed-Rate Products: These are pooled loans that have a fixed rate of interest and these loans settle on a future specified date. The collateral is provided in the form of Ether, Wrapped Bitcoin, stablecoins, and even select fiat currencies in the pools.
EQIFI Variable-Rate Products: These products have algorithmic borrow rates, which automates the marketplace responses to the changes across the network. These changes may be a result of user activity, demand, or increasing levels of borrowing from the token pool.
EQIFI Interest Rate Swaps: These are DeFi forward products, which allow the exchange of one stream of future interest payments with another. This is based on a specified principal amount. These swaps generally involve the exchange of a variable interest rate for a fixed interest rate or vice versa.
The EQIFI Yield Aggregator: This is an aggregator for many leading external yield farming products, which makes the process of yield farming automated and simple. The capital between separate liquidity pools is automatically assigned in this platform, which allows one to seek the optimum levels of profit and margin.