EasyFi (EZ): What is it? Is it a Good Investment?

There came a time Defi required a much more user-centric approach that emphasizes convenience and improves the user experience. Also, new users were looking for long-term engagement with better security and primary protection, rather than just transient incentives. 

Considering these pressing difficulties, and to assist the Defi business in its next logical step. EasyFi was created, a platform that aspires to achieve the lofty goal of financial inclusion through cheaper and faster transactions.

What is EasyFi?

EasyFi is a layer 2 lending mechanism for digital assets that are ubiquitous. It’s an accessible and welcoming financial system based on the Matic network, the far more promising layer 2 solution. 

They chose Matic Network because it complied with the Ether codebase, access to the Ethereum developer community. Plus, it can leverage the power of Matic’s Plasma technology.

Scalability is the first and most crucial DNA element of EasyFi. It’s a Layer 2 solution because it ensures that they incorporate faster and cheaper transactions into the protocol’s core. This allows EasyFi to serve several users and handle massive amounts of transactions. 

EasyFi aims to concentrate on the credit components of the protocol, allowing borrowers and access credit through multiple modules. Furthermore, EasyFi enables Defi-based Insurance modules to safeguard capital suppliers against future NPAs that may arise. This is a result of the evolution of lending markets.

What’s more? They centered EasyFi’s core on Ethereum and uses its well-known capabilities, such as smart contracts. To meet the goal of developing the Defi ecosystem. And being complementary to the agnostic framework that allows cross-chain communication.

Features of EasyFi

EasyFi is a decentralized financial service and infrastructure platform that focuses on virtual currencies and tokens lending and borrowing. So EasyFi’s features are as follows;

Token for EasyFi

EasyFi, like other DEXs, offers a cryptocurrency exchange, mining choices, and staking, including other services besides digital lending. The platform generates a utility token called $EASY.  The token enables governance voting, protocols incentivisation, staking rewards, and cross-chain communication and settlement.

Loans With Insufficient Collateral

The lack of a trustworthy credit score system hampered Defi from turning away potential lenders. When you consider the structure of blockchain, where information is not accessible to every user, this makes sense. 

EasyFi tackles this problem by using Koinfox TrustScore to assess borrowers’ credibility. This allows depositors to see who has better payment history. Then lowers the risk of bad debts. As a result, qualified borrowers have a better chance of receiving a loan under-collateralized, requiring little or no collateral.

Delegation of Credit

EasyFi designed a unique “Know Your Borrower” credit delegation to cut the needless middlemen. These middlemen hike up the cost and time of financing. This protocol enables borrowers and lenders to engage in a direct lending agreement. 

The agreement has every clause and provision on the loan balance, interest rate, period, and covenant. They’re recorded on-chain as immutable proof of the loan. For this agreement, they employ TrustScore as a foundation.

Services for Micro-Lending

As a result of blockchain and DeFi’s inability to eradicate credit concerns or non-repayment. People are still hesitant to lend their money through crypto platforms. 

Therefore, these challenges must be handled in a global marketplace. As several lenders worked to make a loan, the real value is reduced per basis with EasyFi. 

As a result, those dangers are spread and mitigated. The technique is anticipated to encourage lending and increase the availability of Defi loans.

Other Innovative Financial Services

EasyFi can design and integrate several advanced features. Such as Credit Default Swaps, which provide money hedging, insurance, and speculation, thanks to the usage of smart contracts. 

Investors can use these derivative instruments to optimize their options for reducing credit risks or offsetting risks with other users. While still maintaining full influence over their portfolios.

EasyFi’s Worth

The current EasyFi price is $2.11, with a trading activity of $1,183,508 in the last 24 hours. EasyFi has dropped 8.23% within the last 24 hours. 

Similarly, with a current market valuation of $5,330,932, Bitcoin is ranked #1149 on CoinMarketCap. There are 2,524,834 EZ coins in circulation, with a total quantity of 10,000,000 EZ tokens.

EasyFi (EZ) contract address

Below are the contract address EasyFi (EZ) contract addresses for the Ethereum, BNB Smart Chain, and Polygon networks.

Ethereum: 0x00aba6fe5557de1a1d565658cbddddf7c710a1eb

BNB Smart Chain (BEP20): 0x5512014efa6Cd57764Fa743756F7a6Ce3358cC83

Polygon: 0x34C1b299A74588D6Abdc1b85A53345A48428a521

Is EasyFi A Good Investment?

If you’re searching for a strong return on your virtual currency investment, EasyFi could be an excellent choice. At 2022-02-22, the EasyFi pricing is comparable to 16.740 USD. If you purchase EasyFi today for $100, you’d find an amount of 5.974 EZ. 

According to projections, long-term growth is projected, with a price prognosis of 61.251 US Dollars for 2026-11-14. The revenue from a 5-year investment is estimated to be roughly +265.9%. In 2027, your present $100 investment could be worth $365.9.

The Best Place to Buy EasyFi

If you’re looking for a place to buy EasyFi, the best cryptocurrency exchange to use right now is Binance.

Is EasyFi Safe?

It’s just like the rest of the cryptos out there in terms of legitimacy. Although in early 2021, the company recovered from a hack. Nevertheless with accessibility exchange on Binance and other great cryptocurrencies, and staking programs delivering a 29 percent APR, powerful branding. 

Plus an ultra-low maximum supply of just 10 million coins. Check out EasyFi on Twitter, where they make updates almost every day. DYOR, but it’s my belief this small-cap cryptocurrency has more potential than 99 percent of the other 11000 small-cap altcoins available.

In Conclusion

EasyFi is a worldwide layer 2 lending financial market system. A fork of the compound protocol built on the Matic network. 

This enables faster and lower-cost Defi transactions, as well as complex consumer-centric financial products to achieve financial inclusion. EasyFi advocates for a community-centric approach. Therefore the protocol intends to pass over entire authority to its user community shortly via novel governance modules. 

They incentivize their users for initial adoption through dual farming initiatives in conjunction with the Matic network. Plus the primary principle of value sharing to network participants.

Note: Cryptocurrency investment is risky. Invest carefully.

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Anthony Adewuyi

Anthony Adewuyi

Anthony is a Content Writer with MakeMoney.ng. He is passionate about Finance, Business, and Tech related topics. He is a Digital Entrepreneur with vast experience in Data Analytics and Advanced Google Analytics

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