1st Layer 2 Lending protocol to list staked derivative assets as collaterals
Easyfi Network, the universal Layer 2 DeFi lending protocol for digital assets, is introducing new collateral markets with the inclusion of multiple Staked Derivative Assets as collaterals. This makes EasyFi the first Layer 2 DeFi lending protocol to open up these new money markets for staked derivative assets.
EasyFi has already partnered with and onboarded StaFi and RAMP DEFI to include their staking derivative tokens as collaterals in the supply and borrow markets in its Version 1 of the protocol.
These partnership for collateralizing Staked Derivative Assets is first among many that EasyFi is working on in this space. Multiple partnerships are in the pipeline and many of them have already been concluded and will be announced shortly.
According to market estimates, the total staking market cap is over USD 125Bn; protocols like StaFi and RAMP have been working towards unlocking and maximizing the capital efficiency of the staked digital assets globally. Lending protocols like EasyFi will further enhance liquidity by 2x by adding the staked derivative assets as collaterals.
These new collaborations will initiate new collateral markets with the inclusion of multiple StaFi rTokens e.g. rFIS, rETH, rATOM and RAMP’s rUSD as collaterals. The new collaterals will join the other tokens currently on the supply and borrow markets viz. USDC, USDT, DAI and ETH. Here is how the stakers will benefit from these new money markets.
- Newly minted staked derivative tokens will be listed on the supply markets on EasyFi
- The staked derivative token holders can then supply them into the corresponding token markets and earn yield on the same.
- The users can then borrow from the stablecoin markets on EasyFi against the collaterals they have deposited.
EasyFi believes that the use of staked derivatives as collateral in money markets is the natural progression for staked asset derivatives. In an endeavour to make staking more capital efficient & catalyzing money supply in DeFi, EasyFi will be continuously introducing new money markets.
EasyFi believes that these collaborations will unlock large volumes of liquidity from staked assets while opening up multiple yield streams for DeFi users.
Speaking on this launch, Ankitt Gaur, Founder & CEO, Easyfi Network said, “Having staked derivative asset tokens as collateral on EasyFi Network opens up the doors to new streams of liquidity as well as help unlock the true potential of staked derivatives assets on layer 2 money markets.”
About the partners
StaFi, is the first DeFi protocol that is working towards unlocking liquidity of staked assets. Users on StaFi can stake proof-of-stake (PoS) tokens and receive rTokens in return, which are then available for trading while they are still earning staking rewards from the staked PoS tokens.
RAMP DEFI is a global decentralized finance solution that focuses on unlocking liquid capital from staked digital assets. Using the RAMP solution, users with staked assets can continue to receive staking rewards, retain capital appreciation potential on their staked portfolio, and unlock liquid capital to invest in new opportunities at the same time.
Easyfi is a universal layer 2 lending protocol built for defi focused on scalability, composability, and adoption. It has been designed as an open and inclusive financial network infrastructure to run on public networks to facilitate an end to end lending & borrowing of digital assets and related financial products. Easyfi is being built upon the ethos of permissionless networks & automation of smart contracts.