EasyFi is a layer 2 Decentralized finance protocol built on the Matic blockchain network to facilitate the lending of undercollateralized digital assets. One of the key features of EasyFi is that it is based on TrustScore, a product of Koinfox that measures the credibility of the borrowers as well as the lenders and the level of risks involved. EasyFi also supports the Ethereum blockchain and many other ERC20 tokens.
The core element of EasyFi is to make lending easy, fast, and cheap, and to meet credit requirements without the need for hefty collateral or capital. Hence this DeFi protocol is based solely on trust. Undercollateralized lending is based on mutual trust between the borrower and the lender. Here is where TrustScore comes into play. TrustScore will verify and calculate the risks involved and the collateral ratio and make lending easy and stress-free for both parties.
The network is based on the PoS (proof-of-stake) consensus mechanism. EASY is the native token of the ecosystem. EASY token holders can vote and participate consensually and take decisions in the network. Borrowers and lenders can also earn EASY tokens after the completion of a transaction.
The latest buzzword is that EasyFi is collaborating with WazirX and hosting a grand token giveaway for EasyFi token holders. The event starts today on 27th January 2021 and will continue till 2nd February 2021. So, keep your eyes open and keep track of all the latest news.
Grand EasyFi + WazirX Giveaway
EASY token holders can hold, withdraw, borrow, and lend EASY tokens on the network’s INR market.
AMA with Ankit Gaur
Today, WazirX is hosting an AMA with Ankit Gaur, the CEO, and founder of the EasyFi network. Ankit is a well-known name in the blockchain community and has founded several tech companies including Tradelink.network and is also the co-founder of KoinFox, a crypto trading platform. Besides this, he has given his consultation to many global companies in the past. His knowledge and expertise in crypto automation tools and blockchain are noteworthy and interested individuals can take part in this interesting event and get a chance to ask questions live on the network.
Participants can answer 10 questions that have been crowdsourced from Twitter followers about EASY live on the network. Participants will get 10 minutes to answer the questions. Lucky participants can win prize money of $100 worth EASY tokens for the top 10 Twitter questions and $50 for the top 5 questions live on the network.
Highest Trader Kaun Marathon
- Date – 28th January, Thursday to 30th January
- Time – 9 AM IST on 28th January to 30 January 9 AM IST
This is a huge opportunity to earn prizes by trading on the INR market. Top 200 lucky winners can win prizes up to INR 12,04,000 or $15,000 worth of EASY tokens. Participants can take part in the trading marathon any time between 9 AM Thursday to 9 AM Saturday.
To participate, traders have to trade a minimum amount of INR 5,000 or 15.85 worth of EASY tokens. Winners will be decided on the basis of volume traded on the platform.
Instagram Trivia Contest
The Instagram Trivia contest will take place on Monday, 1st February at 12 PM sharp. Interested participants please follow the Instagram account and watch for the latest updates. Every 3 minutes, a question will be asked and participants have to give the correct answer. There will be a total of 3 questions that will be shared on the Instagram story. For every correct answer, one lucky winner will be chosen and will get a chance to win 2.54 EASY tokens.
To participate, interested people have to join the telegram discussion group at https://t.me/wazirx_discuss. There will be a total of 10 questions and for every correct answer, one lucky winner will win prizes from $100 to $10 respectively.
Note: During the token giveaway event, the EASY token price will be held at INR 315.5 or $3.93 and all prizes will be distributed within 10th February 2021. So, keep trading folks!