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EASY Coin is the native cryptocurrency of the EasyFi platform, which defines itself as a universal layer 2 lending protocol focused on scalability, interoperability, and adoption in the DeFi sector.
EasyFi is designed as an open network infrastructure to operate on public networks, facilitating the lending and borrowing of digital assets and related financial products. Additionally, the EasyFi network is independent of the blockchain, allowing for cross-chain asset payments and utilizes a Proof of Stake consensus mechanism.
What is Eeasyfi (EASY)?
Eeasyfi is an Ethereum-based project aimed at addressing various challenges faced by first-generation DeFi projects. With the goal of redesigning decentralized finance (DeFi), EasyFi claims to be a real catalyst for the adoption of DeFi.
EasyFi is characterized as a protocol created with a vision to solve some of the natural challenges faced by first-generation DeFi solutions, particularly in terms of transaction speed and cost, which are bottlenecks for large-scale DeFi operations.
Additionally, EasyFi’s services include micro-loans. The platform notes that billions of people in developing economies work only for small value daily term loans, but these loans are subject to very high-interest rates. EasyFi microloans come into play at this point, allowing people to benefit from small loans without high interest rates.
Furthermore, EasyFi enables credit delegation, one of its core products, for more trust-based loans where both parties know each other or agree on the debtor’s TrustScore and accept the level of risk. Delegation typically comes into play for loans of a certain size and allows for the financing of various needs of trusted institutions through the protocol.
On the other hand, users can earn EASY coin through yield farming on the platform. EasyFi enables users to own the native protocol token “EASY” by interacting with the protocol. Anyone interacting with the platform can collect EASY tokens. Farmed tokens are distributed daily to users based on their contributions to protocol interaction.
At this point, it would be beneficial to look at the current figures related to EasyFi (EASY).
Eeasyfi Coin, a DeFi token, was trading at $5.92 against USD and 0.00038332 BTC against Bitcoin at the time this article was prepared. In addition, it’s worth noting that EASY Coin hit its lowest point on October 19, 2020, at $1.07 and its record high on October 31, 2020, at $10.88.
Moreover, according to CoinMarketCap data, Eeasyfi Coin, ranked 823rd in terms of market capitalization, has a market value of $3,149,245. Currently, there are 531,625 Eeasyfi in circulation, and it is stated that this number will eventually reach 10,000,000 EasyFi (EASY).
EASY Coin Review
EASY, the native cryptocurrency of the EasyFi lending protocol, has drawn attention especially after its listing on Binance. EASY broke its historical record and experienced a significant increase after the Binance listing.
In addition, the EasyFi platform is considered promising for the future, being both a lending protocol and a DeFi project.
How to Buy EASY Coin?
EASY coin can be easily and quickly purchased through Binance, the world’s number one cryptocurrency trading platform in terms of market capitalization.
